The Dow rose by more than 240 points, but Tesla's market value evaporated by about 574.3 billion yuan overnight! The computer giant also fell by more than 8% after hours.
Edited by: Du Yu
On January 25, local time, the three major U.S. stock indexes collectively closed higher, with the Dow up 0.64%, the Nasdaq up 0.18%, and the S&P 500 up 0.53%.
According to CCTV News on January 25, data released by the U.S. Department of Labor on January 25 local time, in the week ending January 20, the number of people applying for unemployment benefits for the first time in the United States was 214,000, an increase of 25,000 compared with the number of people applying for unemployment benefits for the first time after the previous week.
According to media reports, U.S. Treasury Secretary Janet Yellen said that a year ago, forecasters believed that a U.S. recession was almost inevitable, but we did not see such a situation; inflation is well controlled, and if inflation remains low, consumer confidence will increase. Yellen said that $34 trillion in debt is a "terrible number," but that the United States also has a large economy, that actual debt service costs are still "quite manageable," and that we must take steps to ensure that the deficit is manageable.
Most of the popular technology stocks rose, IBM rose more than 9%, Google rose more than 2%, AMD rose more than 1%, airlines, oil and gas sectors rose first, American Airlines rose more than 10%, JetBlue Airways, Delta Air Lines, United Continental Airlines rose more than 5%, Chevron, ExxonMobil, Imperial Oil rose more than 2%. Automakers and space concepts were among the top decliners, with Fisker down more than 8%, Boeing down more than 5%, Virgin Galactic down nearly 3%, and Rivian down more than 2%.
Most of the popular Chinese concept stocks fell, and the Nasdaq China Golden Dragon Index fell 0.13%. Bilibili fell more than 3%, Vipshop and iQiyi fell more than 2%, Xpeng Motors, Weibo, Alibaba, Baidu, and Full Bang fell more than 1%, and Li Auto, Weilai, Tencent Music, Futu Holdings, and Pinduoduo fell slightly. NetEase rose more than 3%, and JD.com rose more than 1%.
Tesla fell by more than 12%, and its market value evaporated by 574.3 billion yuan overnight
Tesla was quoted at $182.63, down 12.13%, with a market capitalization of $580.57 billion. Its market value evaporated by 80.1 billion US dollars (about 574.3 billion yuan) overnight. ）
On the news side, Tesla announced its latest results, with revenue of $25.17 billion in the fourth quarter of last year, a year-on-year increase of 3%, lower than analysts' expectations of $25.87 billion, and total revenue for the year reached $96.773 billion, an increase of 19% year-on-year, a record high, but compared with the growth rate of more than 50% in the previous two years, revenue growth in 2023 will slow down significantly; Tesla attributed the decline in profits to the reduction in the average selling price of its vehicles, and " The increase in operating expenses, driven in part by artificial intelligence and other R&D projects". Gross margin was 17.6%, the lowest since 2019, down more than 600 basis points year-over-year and less than analysts' expectations of 18.1%.
Tesla warned that growth in 2024 is likely to be lower than last year, but did not give a specific target. In 2023, Tesla's global vehicle deliveries increased by 38% year-on-year, and Tesla's delivery target has been 50% per year for several years.
Image source: Photo by reporter Zhang Jian (unrelated to the picture and text)
Tesla CEO Elon Musk said on Wednesday: "Tesla is currently in between two major waves of growth, according to China Fund News. He also said that Tesla has made great strides on what he says is the next generation of low-cost vehicles. Musk said he expects Tesla to start producing the car at its Texas factory near the end of 2025.
In addition, Tesla was lowered by Goldman Sachs, Wedbush and HSBC. Specifically, Goldman Sachs lowered its price target to $220 from $255, Wedbush lowered its price target from $350 to $315, and HSBC lowered its price target from $146 to $143.
Tesla's valuation has long been underpinned by its sales momentum and Musk's commitment to transform the company into a leader in robotics and AI. But Musk's demand last week for more control over Tesla was mixed in with some uncertainty about his commitment to Tesla's development.
Tesla has faced other challenges in recent weeks. Among them, the Chinese automaker BYD surpassed Tesla in the fourth quarter of last year to become the world's No. 1 electric vehicle seller for the first time.
Intel's fourth-quarter revenue was higher than expected But revenue expectations for the next fiscal quarter were much lower than expected
On January 25, local time, Intel announced its latest financial report, Intel's fourth-quarter revenue was $15.41 billion, analysts expected $15.17 billion, adjusted earnings per share in the fourth fiscal quarter were $0.54, analysts expected $0.44, first-quarter revenue was expected to be $12.2 billion to $13.2 billion, analysts expected $14.25 billion, adjusted earnings per share in the first fiscal quarter were expected to be $0.13, analysts expected $0.34, and adjusted gross margin was expected to be 44.5% in the first quarter , analysts expected 45.5%.
As of the close of local time on January 25, Intel was at $49.55, up 0.94%, with a market value of $208.9 billion. After the earnings report, Intel fell more than 8% after hours.
According to public information, Intel is a global leader in the semiconductor industry and computing innovation, founded in 1968.
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