Apple Inc. (AAPL.US) attempted to introduce CXMT (688825.SH) as its third DRAM supplier to lower future iPhone costs, foreign reports said.

However, CXMT refused to make price concessions, with its quotations similar to or even higher than those offered by Apple's existing suppliers Samsung Electronics and SK Hynix.

Huawei, XIAOMI-W (01810.HK) and other Chinese OEM have already signed long-term supply agreements with CXMT at high prices, leaving CXMT with little incentive to compete for Apple's orders with discounted pricing, sources said.
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Space Exploration Technologies Corp. (SPCX.US) shares plunged during pre-market trading on Wednesday (5th) after a spike in the company's AI spending raised investor concerns, overshadowing better-than-expected quarterly results. The stock last tumbled 10.4% in pre-market trading.

On Tuesday (4th), SpaceX released its first earnings report as a listed company. The space enterprise owned by CEO Elon Musk said capital expenditure in 2Q26 mushroomed sixfold to USD18.4 billion, exceeding analyst expectations, with most of the spending directed toward AI.

The company's shares closed slightly above USD125 on Tuesday, still below its IPO price of USD135 and markedly lower than the record high of more than USD200 reached shortly after listing.

During the current earnings season, market concerns have intensified over whether major technology companies can demonstrate returns from multi-billion-USD investments, weighing on investor sentiment.

Although the market believes SpaceX's proprietary models lag behind OpenAI and Anthropic, the company is positioning itself as an alternative cloud service provider by leasing computing capacity built with NVIDIA Corporation (NVDA.US) chips.

In addition, the company will face another potentially market-moving event on Thursday (6th), when the insider share lock-up period expires, allowing insiders to sell part of their holdings.
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Michael Burry, the renowned US hedge fund manager portrayed in "The Big Short", maintained his bearish stance even as the S&P 500 hit a record high. He warned that the current rally could ultimately end in a collapse similar to the 1987 stock market crash.

Although new highs in the S&P 500 may attract fresh capital into the market, he still believed US stocks are approaching a major peak and could experience a plunge similar to that seen in 1987.

Supported by corporate earnings beat and growing hopes that the Strait of Hormuz will reopen, US stocks stretched upswing for a fourth consecutive trading day overnight (4th), with the three major indices mounting nearly 2% or more. Both the DJIA and the S&P 500 notched fresh intraday and closing highs.

Burry believed demand for AI infrastructure may be driven by unsustainable financing arrangements. He said the market rally is creating a self-reinforcing cycle, while lower volatility is encouraging systematic investors to increase risk exposure.

He emphasized that he will continue to hold short positions in iShares PHLX SOX Semiconductor Sector Index Fund (SOXX.US), Micron Technology, Inc. (MU.US), NVIDIA Corporation (NVDA.US), Caterpillar, Inc. (CAT.US), Palantir Technologies Inc. (PLTR.US), Tesla, Inc. (TSLA.US) and Applied Materials, Inc. (AMAT.US), and remains highly confident about the long-term outlook for these positions.

However, he would cut losses promptly if the trades move significantly against him. Apart from the short position in NVIDIA, all other positions currently remain profitable.
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After capex for AI business of Space Exploration Technologies Corp. (SPCX.US) sharply topped expectations, company executives on Tuesday (4th) sought to assure investors that the investment is valuable and said the company could recoup costs within one year.

SpaceX released its first earnings report since its June listing, with shares falling after the results. 2Q26 revenue leaped 92% YoY, beating market expectations, but capex jumped up more than sixfold to USD18.4 billion, more than double quarterly total sales.

More than 80% of SpaceX's capex was directed toward AI. The company trails OpenAI, Anthropic and Google in models and services, and is competing in the cloud market with Microsoft Corporation (MSFT.US), Amazon.com, Inc. (AMZN.US) and Google by selling computing capacity.

According to market data, the USD18.4 billion capex topped analysts' average estimate of USD13.22 billion. SpaceX shares fell off 7.5% in after-hours trading, almost erasing earlier gains and trading more than 20% below the first-day trading price on June 12.
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Space Exploration Technologies Corp. (SPCX.US)'s 2Q revenue spiked 92% YoY to USD7.8 billion, topping analysts' expectations, while loss narrowed to USD541 million from USD1.008 billion in the same period last year.

The AI division posted an operating loss of USD1.26 billion, while the space division recorded a loss of USD542 million. The network connectivity business continued to post a profit, with operating profit reaching USD1.66 billion.

Following the earnings release, the company's share price fell 7.46% in after-hours trading.

SpaceX CEO Elon Musk said the company will fully build future AI services based on NVIDIA Corporation (NVDA.US) systems, as he believes the Vera Rubin multi-rack POD-level system is the best and highly values the partnership with NVIDIA.

Musk said in May that Tesla, Inc. (TSLA.US) and SpaceX would likely continue purchasing chips from both NVIDIA and Advanced Micro Devices, Inc. (AMD.US).

However, after Musk's latest remarks that SpaceX would fully adopt NVIDIA systems, NVIDIA shares jumped up 2.16% in after-hours trading, while AMD dived nearly 9%.
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Advanced Micro Devices, Inc. (AMD.US) logged a 50% YoY surge in 2Q revenue to USD11.536 billion, beating expectations. Profit spiked 1.63x YoY to USD2.297 billion, while non-GAAP diluted EPS reached USD1.66, also ahead of expectations. However, the company's shares still plunged 8.8% to USD472.94 in after-hours trading.

Data center business was the key growth driver for AMD. Data center revenue for the quarter reached USD6.7 billion, up 107% YoY, benefiting from sales of CPUs and GPUs.

AMD forecast 3Q revenue of about USD13 billion, plus or minus USD300 million, vs market expectations of USD12.52 billion. Some analysts had previously expected revenue guidance to reach USD14 billion.
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After Amazon.com, Inc. (AMZN.US) shares set a record high on Monday (3rd), founder Jeff Bezos filed a plan to sell about 15 million shares worth about USD4.1 billion. The news weighed on the stock, which closed down more than 2% on Tuesday (4th).

Amazon posted strong results for 2Q, with growth in its cloud computing business beating, reinforcing investor confidence that its AI investments are translating into accelerating demand growth.

Amazon shares have cumulatively elevated about 20% YTD, exceling the S&P 500's 11% gain.
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CXMT (688825.SH) is preparing to produce advanced smartphone memory chips, narrowing the technology gap with Micron Technology, Inc. (MU.US), SK hynix Inc. (SKHY.US) and Samsung Electronics, Bloomberg, citing sources, reported.

The company plans to begin small-scale production of advanced low-power memory chips around the end of the year. If prototype testing delivers favorable results, mass production will commence.

The advanced chip, known as Low Power Double Data Rate 6 memory (LPDDR6), offers considerably faster data transmission speeds and higher energy efficiency compared with previous-generation products, helping smartphones and laptops run AI applications.
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Apple Inc. (AAPL.US) logged sales of more than USD10 billion in India for the last fiscal year for the first time, representing a double-digit percentage YoY increase, Bloomberg, citing sources, reported. iPhone accounted for the vast majority of sales, while sales of iPad and MacBook also hiked.

Although India currently accounts for only a small portion of its overall business, it is gradually becoming a major sales region outside the US and China. India has also become a key part of Apple's manufacturing strategy, with five iPhone factories in the country.
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Samsung regained the top position in the global DRAM market in 2Q with a 39% market share, recovering to 2024 levels, Counterpoint Research's latest global memory tracker report showed.

In comparison, although SK hynix Inc. (SKHY.US) charted a YoY surge of 214% in quarterly revenue, its market share fell from 39% in 2Q25 to 26% in 2Q26. As one of the world's top three memory manufacturers, Micron Technology, Inc. (MU.US) also delivered solid quarterly results, securing a 25% market share and nearly wrestling with SK hynix for second place. Since the rise of the AI boom in 2H23, Micron has maintained strong growth momentum.

Neil Shah, Vice President of Research at Counterpoint Research, forecast Micron's DRAM revenue to have leaped around fivefold since 2Q25, positioning the company to overtake SK hynix and become the world's second-largest player. Market competition will continue to be influenced by factors including capacity allocation and pricing mechanisms under long-term agreements (LTA).
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