ozgurdonmaz/iStock Unreleased via Getty Images Article Thesis Apple Inc. ( AAPL ) reported its most recent earnings results on Thursday afternoon, showing nice growth and beating the consensus on both lines. But while Apple is a quality company, I don't think that it's a good investment at current prices -- compared to other Magnificent 7 companies, its growth and valuation combination isn't great. Past Coverage I have written about Apple here on Seeking Alpha in the past, most recently in January, or three months ago, when I published this article discussing AAPL's results for the previous quarter. I was neutral on Apple back then, with Apple rising a bit more compared to the broad market since that article was published. With Apple announcing its second-quarter earnings results on Thursday, I want to give an update on Apple today. What Happened? On Thursday afternoon, following the market's close, Apple announced its fiscal Q2 results , with the headline numbers looking like this: Apple Q2 earnings results (Seeking Alpha) Apple delivered a double beat, which is, of course, nice. This wasn't much of a surprise, though -- this was the 11th double beat in a row, so there is a pretty clear history of Wall Street analysts underestimating Apple. The company outperforms the consensus reliably, although usually not by a lot -- including during Q2, with revenues around 1.5% higher than expected, while earnings per share were around 3.5% higher than expected. Compared to the earnings beats that Alphabet ( GOOG )( GOOGL ) and Meta Platforms ( META ) delivered this week, Apple's double beat was a bit unspectacular. Still, a beat is a beat, and Apple continued to build its outperforming-the-consensus track record -- investors like that. Following the earnings release, Apple's shares traded up slightly, which aligns with my belief that this was good news but not too much of a surprise. Apple's Q2: Good Growth Let's delve into the numbers. Apple's growth had accelerated to 16% i...

Earnings Call Insights: Cerus (CERS) Q1 2026 Management View “2026 is off to a great start with strong first quarter results and increasing confidence in our sales outlook for the full-year,” said (Chief Operating Officer Vivek Jayaraman), and added that Q1 product revenue was “$53.7 million, up 24% compared to the first quarter of 2025,” driven by “continued strength in our global platelet franchise” and “accelerating demand in our U.S. IFC business.” (Chief Operating Officer Jayaraman) said Cerus is “raising our full-year 2026 product revenue guidance to $227 million to $231 million,” and “raising full-year IFC revenue guidance to $22 million to $24 million,” adding that the update reflects “total year-over-year product revenue growth of 10% to 12% compared to 2025 and approximately 30% to 40% for IFC.” (Chief Operating Officer Jayaraman) highlighted early execution under the Blood Centers of America agreement, stating, “We are already seeing early signs of traction, including increased activity at existing Cerus customers and new agreements to adopt PR platelets at BCA members who have yet to utilize INTERCEPT.” “Total revenue, which includes government contract revenue, increased 23% compared to the prior year results,” said (VP of Finance & CFO Kevin Green), and added, “first quarter revenue was $5.7 million compared to $3 million during the first quarter of 2025” for IFC. (President, CEO & Chairman William Greenman) said, “I want to thank all of you for joining us today for what will be my final earnings call as Cerus’ President and CEO,” and added, “I am very pleased to pass the baton to Vivek.” Outlook (Chief Operating Officer Jayaraman) said the guidance increase was supported by demand, stating, “Based on our better-than-expected start to the year as well as our growing conviction in the underlying demand for INTERCEPT, we are raising our full-year 2026 product revenue guidance to $227 million to $231 million.” On regional and product drivers for the balan...

Earnings Call Insights: Trupanion (TRUP) Q1 2026 Management View “In the first quarter, we generated over $40 million of adjusted operating income, up 29% year-over-year and remain on track to deliver $180 million for the full year,” said (President, CEO & Director Margaret Tooth), adding, “to fully capture what's ahead, we intend to embolden our messaging, broaden our existing products, introduce a brand-new product and continue to invest to grow the business.” “We added approximately 64,700 pets into our ecosystem in Q1,” (President, CEO & Director Tooth) said, and highlighted early rollout of new options: “adding flexibility to our core Trupanion product for pet parents wanting Trupanion at a lower entry point,” with “early results… encouraging with improved web conversion rates relative to prior periods.” “Total revenue for the quarter was $384 million, up 12% year-over-year,” said (Chief Financial Officer Fawwad Qureshi), adding that subscription revenue “was $269.5 million, up 16% year-over-year and exceeding the high end of our expectations.” Outlook “For the full year of 2026, we now expect total revenue in the range of $1.556 billion to $1.581 billion,” said (Chief Financial Officer Qureshi), and “we also continue to expect total adjusted operating income to be in the range of $173 million to $187 million.” “For the second quarter of 2026, total revenue is expected to be in the range of $386 million to $392 million… [and] total adjusted operating income is expected to be in the range of $40 million to $43 million,” (Chief Financial Officer Qureshi) said. Relative to the prior quarter’s guidance ranges, (Chief Financial Officer Qureshi) narrowed full-year ranges slightly (total revenue; subscription revenue) while reiterating the full-year adjusted operating income range. Financial Results (Chief Financial Officer Qureshi) said “adjusted operating income was $40.2 million in Q1,” and that subscription results drove the mix: “Our subscription business deliver...

Earnings Call Insights: Amgen (AMGN) Q1 2026 Management View "We had a strong first quarter and are well positioned to achieve our objectives for the year," said (Chairman & CEO Robert Bradway), reiterating that 2026 is "a springboard year" where the company expects "our rapidly growing products to offset the financial impact of patent expirations and increased competition." Bradway highlighted that "our 6 key growth drivers...generated 70% of our sales in the quarter and grew in aggregate by 24%." On MariTide, Bradway said Amgen is "disclosing additional Phase III studies...one of which will evaluate switching from the weekly injectables to MariTide on an every 8- or 12-week schedule" and will also evaluate "weight maintenance...on a schedule of 4 or 6 injections a year as well." Bradway described an AI leadership transition: "we took steps early on to have Dave Reese lead these efforts" and "we're encouraged that Jay Bradner will build on Dave's accomplishments, leading our artificial intelligence and data activities across the company." (Executive VP & CFO Peter Griffith) said, "We are pleased with our strong first quarter performance," reporting "non-GAAP operating margin was 45%" and "free cash flow" of "$1.5 billion." Outlook Griffith said, "we're raising our 2026 guidance ranges for both revenue and non-GAAP earnings per share," guiding to "total revenues in the range of $37.1 billion to $38.5 billion" and "non-GAAP earnings per share to be between $21.70 and $23.10," while noting, "our guidance does not include any potential business development transactions." Compared with Q4 2025, Amgen’s ranges increased from "$37.0 billion to $38.4 billion" and "$21.60 to $23." Griffith updated below-the-line assumptions to "non-GAAP OI&E...$2.2 billion to $2.3 billion of expense" and a "non-GAAP tax rate...15.0% to 16.5%." Financial Results Griffith reported "non-GAAP R&D spending increasing 16% year-over-year" and "non-GAAP cost of sales as a percentage of product sale...

需求政策共同发力 本周五，寒武纪高开，之后直接一路 震荡上行，午后 13:45 以大单封死 20 厘米 ，强势 涨停推动了 半导体板块指数 创出了 历史新高。 作为芯片制造基础 却是最核心 材料，硅片 可以说是 半导体产业的地基，而 12 英寸硅片 已经 成为 了 全球市场 的 主流， 也 是先进芯片制造 的刚需 材料。 目前， 全球硅片行业 已 呈现 出 大尺寸化 的 趋势， 据统计， 12 英寸硅片凭借 着 成本优势 和 适配先进制程的特 点 ，占据 了 超 75% 的市场份额。在政策扶持、技术突破与需求爆发的三重驱动下，国内 12 英寸硅片产业正迎来 重大发展机遇 ，长期 来说， 成长空间 广阔！ 01 大尺寸 硅片 已是 主流 硅片是晶圆制造中耗量 中 最大的材料，占比 高 达 30% ，全球 95% 以上的半导体器件、 99% 的集成电路都以硅片为衬底。 从产业发展 的 规律 来 看，硅片尺寸越大，单位芯片生产成本越低， 12 英寸硅片面积是 8 英寸的 2.25 倍，芯片产出效率提升 了 约 2.5 倍，经济效益优势显著。 当前， 12 英寸硅片 已经 主导 了 市场， 2024 年出货面积占比超 76% ，成为存储、逻辑等先进芯片的载体。 AI 芯片、 HBM 高带宽内存、先进制程处理器等高端产品，均依赖 12 英寸硅片生产。随着芯片工艺向 3nm 及以下演进、 NAND Flash 堆叠层数突破 200 层，对大尺寸、高精度硅片的需求只会只增不减。 SEMI 数据显示，全球 12 英寸晶圆厂产能 还在 持续 的 扩张， 2024 年达 834 万片 / 月， 2026 年将增至 989 万片 / 月，年复合增长率 8.9% 。下游产能 的 快速释放， 将会 带动 12 英寸硅片需求大幅 上升 ，行业景气度 也将水涨船高 ， 所以， 大尺寸化趋势已 形成 。 02 四重壁垒，行业格局 集中度高 12 英寸硅片并非标准化产品，而是技术、资金、设备、认证四重壁垒叠加的高端材料，极高的门槛让行业呈现 出 垄断格局。 在 技术层面， 12 英寸硅片对晶体要求 很 严苛，拉晶、抛光、外延等核心工艺难度随 着 尺寸放大呈指数级提升，拉晶环节直接决定产品良率上限，微小缺陷都会导致芯片报废。 设备层面， 高端单晶炉、抛光机等核心装备长期被海外掌控，设备采购与调试周期 ...

重庆市人民政府办公厅近日印发《重庆市推动经济稳中向好若干政策举措》，其中提出，支持企业用好科技创新资金。鼓励企业用好债券市场中长期、低成本资金，发行科技创新债券、绿色（可持续类）债券等创新产品。动态完善“两创”企业储备库，形成筛选—培育—证券化等全链条服务体系，用好创业板改革等增量金融政策，支持科技成果转化项目和优质未盈利创新企业上市融资、并购重组、知识产权证券化。支持硬科技初创团队、传统产业专精特新优势团队、高校院所科技成果转化项目等各类团队和企业申报市级种子基金。

Tesla's hidden boost: Over half a billion in revenue came from Musk's private empire MSN

The titans of the industry had a great run, but nothing lasts forever.

Key PointsThe advent of new technologies is changing the banking industry.

(Bloomberg) -- OpenAI Chief Financial Officer Sarah Friar pushed back on concerns about missing internal targets, saying the company is meeting objectives and sees “a vertical wall of demand” for its products.Most Read from BloombergUS Seeks to Deploy Hypersonic Missile for the First Time Against IranTwo NJ Malls Separated by Just Four Miles — and Very Different FatesTrump Says Iran Blockade ‘Incredible’ as Pump Prices Keep RisingNorth Korea Confirms Suicide Rule for Soldiers Ukraine Captures“We

This Catalyst Helped AMD Avoid Bankruptcy, and It's Coming Back to Supercharge the Stock (Hint: It's Not Artificial Intelligence) AOL.com

Meta increased its capital spending by $10 billion because it “continued to underestimate,” its compute needs, said its CFO.

巴克莱策略师表示，欧洲企业一季度财报表现扎实，但后市前景愈发模糊；伊朗战争带来的不确定性，正令企业盈利指引趋于保守。 由马格什・库马尔・钱德拉塞卡兰领衔的策略师团队称，从财报电话会议纪要来看，美伊战争冲击逐步显现，欧洲企业对经济前景的谨慎情绪明显升温。 近 25% 的企业表示冲突已拖累市场需求，同时供应链扰动与原材料成本上涨压力，也对相当数量企业造成冲击。 行业盈利指引方面：科技、工业板块最为乐观，非必需消费品与必需消费品板块最为悲观。 策略师指出，财报季过半后，欧洲一季度综合盈利增速开始回升；美股财报超预期表现远强于欧洲股市。 目前欧洲每股收益（EPS）增速约6%，美国达18%。 美股的每股收益、营收超预期幅度均大幅高于历史均值；欧洲每股收益超预期持平均值，营收超预期则低于均值。 市场股价反应自上周起有所好转，目前欧美两大市场整体均小幅收正。 策略师表示，防御性板块贡献了多数财报超预期标的，两大市场周期股表现均相对滞后。 责任编辑：刘明亮

Source: Bloomberg, 5:10

Rothschild Redburn initiates Astera Labs stock with neutral rating By Investing.com Investing.com Canada

Microsoft and OpenAI's relationship continues to evolve.

Key PointsMicrosoft changed its agreement with OpenAI.

"We Shouldn't Have To Live Like This": UK Terror Level Raised To 'Severe' After Stabbing Attacks Britain's terrorism threat level was raised from “substantial” to “severe” on Thursday afternoon after a 45-year-old British national, reportedly born in Somalia, stabbed two Jewish men in North London. The elevation in the terrorism threat level suggests another terror attack is highly likely within the next six months, as Britain's experiment with mass migration is backfiring. The suspect is 45-year-old Essa Suleiman from south-east London, the BBC understands. He came to the UK from Somalia in the early 1990s - BBC News So it's now transpired that the Golders Green terrorist is named Essa Suleiman. Somali who has a history of violence, including stabbing two police officers and a police dog in 2008! https://t.co/Y4RfMi7OKR pic.twitter.com/kpCwmBEDur — Tommy Robinson 🇬🇧 (@TRobinsonNewEra) April 30, 2026 Shabana Mahmood, the Home Secretary, described Wednesday's attack as terrorism. "Today, the national threat level has increased to 'severe,' which means a terrorist attack is considered highly likely." "I know this will be a source of concern to many, particularly amongst our Jewish community, who have suffered so much," Mahmood said. 🚨 BREAKING: Keir Starmer's full address to the nation over the Golders Green terror attack "If you stand alongside people who say Globalize the Intifada, you are calling for terrorism against Jews" "I call on everyone decent in this country to open their eyes to Jewish pain" pic.twitter.com/Y8kJgoWOhq — Politics UK (@PolitlcsUK) April 30, 2026 The Joint Terrorism Analysis Center's decision to raise the national terror threat level comes in the wake of a Somalia-born man stabbing two Jewish men and follows a series of attacks in Jewish neighborhoods in recent weeks. For context, "severe" is the second-highest of five threat levels, below "critical," which means another attack is likely in the coming months, if not sooner. The last time the ...

财报和指引双双炸裂，股价却先跌为敬——这背后，藏着一个关于“预期已经太高”的市场逻辑。 据追风交易台消息，4月30日，闪迪发布了2026财年第一季度财报。当晚，一份来自华尔街的研究报告随即出炉，对这份财报及公司前景作出详细解读。 高盛认为短期的下跌，更多是情绪和仓位的释放，而非基本面的问题。该行表示，“我们预计股价最终将走高”，并将12个月目标价从700美元大幅上调至1200美元，EPS预测平均上调约55%。 为什么“炸裂财报”换来下跌？ 财报数据本身没有任何悬念——全面超预期，而且超出幅度相当惊人。 闪迪第一季度营收59.5亿美元，比分析师预期的51.01亿美元高出16.6%，比市场整体预期的47.81亿美元高出24.5%。毛利率达到78.4%，比分析师预期的69.8%高出近9个百分点。非GAAP每股收益23.41美元，比分析师预期的17.00美元高出37.7%，比市场整体预期的15.11美元高出近55%。 然而，股价盘后一度下跌6%。 在财报发布前，闪迪股价已经经历了一轮大幅拉升——NAND存储供需偏紧、数据中心SSD需求爆发、行业定价预期持续走强，这些利好早已被市场提前消化。投资者的预期，在财报发布前已经被推到了相当高的位置。 用报告的原话来说：“我们认为，由于股价在财报前大幅上涨，投资者预期已经显著提升。” 换句话说，财报再好，也需要超过“已经很高的预期”，才能推动股价进一步上行。短期的下跌，更多是情绪和仓位的释放，而非基本面的问题。 报告明确表示： “尽管股价初期下跌6%，我们预计股价最终将走高。” 二季度指引：再度大幅超预期 如果说一季度财报是“超预期”，那二季度指引则是“再度超预期”。 闪迪给出的二季度营收指引中值为80亿美元（区间77.5亿至82.5亿美元），比分析师预期的66.49亿美元高出20.3%，比市场整体预期的69.68亿美元高出14.8%。 毛利率指引为80%，比分析师预期的74.5%高出约5.5个百分点。 非GAAP每股收益指引区间为30至33美元，中值31.50美元，比分析师预期的24.21美元高出30.1%，比市场整体预期的25.96美元高出21.3%。 环比来看，营收指引中值较一季度实际营收增长约34.5%，同比增幅高达372%。 这组数字，几乎没有留下任何可以“失望”的空间。 420亿美元供应协议：锁定未来，但还需观察 财报中另...

【有線新聞】醫管局實施探病新安排，即日起先在九龍中醫院聯網推行，兒科病房將24小時開放，方便家長照顧，而療養及復康等病房探病時間就增至9小時，目標7月前逐步擴展至所有公立醫院。 去公立醫院探病，只有中午和晚上兩個時段，每節2小時。醫管局計劃延長部分病房的探病時間，兒科病房會24小時開放，復康、療養及紓緩治療等病房全日探病時間會增至9小時。 有病人家屬覺得是好事，姚太：「如果去到末期階段的病人，我們可以多留一會，都不影響醫院運作情況下，多陪伴家人，走最後一程很重要，這個是我們病人家屬，一個心願來。」陳先生：「有些家屬要上班，如果那些時間，可以遷就到就比較好。」 九龍中聯網醫院包括廣華醫院，將率先實施新探病安排，但暫時不涵蓋老人科、骨科和急症病房。新探病安排是考慮到照顧者需要，尤其兒科病房的病童，至於日後會否涵蓋急症病房，醫管局要再評估。醫管局總護理行政經理唐華根：「急症病房，醫管局處理的病症都是危、急、重為主，病人進來時病情未穩定。醫療程序、巡房或在治療中有多大影響，感染控制措施有多大影響，這些都要再看清楚。」 探病的新安排，醫管局目標7月前逐步擴展至所有公立醫院。

在乳腺癌候选药物未能在一项关键的咨询委员会投票中获得支持后，英国制药集团 阿斯利康 （AstraZeneca）表示，该公司将继续与美国监管机构合作，对该药物进行审查。 这家制药商是英国富时100指数成分股。该公司周四晚间表示，美国食品药品管理局（Food and Drug Administration， 简称FDA）的肿瘤药物咨询委员会以6比3的投票结果，对乳腺癌治疗候选药物camizestrant的获益-风险评估给出否定性意见。 该公司表示：“在FDA完成对该申请的审查之际，阿斯利康将继续与其合作。”该监管机构不受该咨询委员会指导意见的约束，但会考虑其建议。 阿斯利康的苏珊．加尔布雷思（Susan Galbraith）表示：“我们坚信Serena-6试验（测试camizestrant）的结果，也很高兴该委员会将camizestrant视为一种安全有效的潜在新药。” 花旗（Citi）分析师写道，该委员会会议上出现了一些对该药物未来发展有利的积极迹象。 花旗表示：“对于正在进行的更大规模试验而言，重要的是，投反对票的委员似乎并未对药物毒性抱有重大担忧。” 该制药商本周早些时候表示，抗癌药物是今年第一季度收入增长的核心，肿瘤业务较上年同期实现了两位数增长。近年来，阿斯利康一直押注其肿瘤业务来刺激增长，将新药推向市场，并努力扩大现有药物的适应症范围。肿瘤业务目前占集团收入的近一半。 Jefferies的分析师表示，camizestrant审批受挫对该股而言并不是一个严重问题。 该行在给投资者的一份报告中表示：“除了可能对市场情绪造成打击外，这不应该是一个重大问题，任何走弱都提供了买入机会。”阿斯利康的股价在周五开盘交易中下跌了约1.8%。 责任编辑：刘明亮

格隆汇5月1日｜现货黄金日内跌超1%，报4575.15美元/盎司。现货白银跌0.79%，报73.12美元/盎司。

A viral video of three elephants sent from Malaysia to a zoo in Japan has sparked public anger after online users said the animals appeared distressed when visitors called their names in Malay – which many viewers interpreted as a sign of homesickness. The footage showed the three pachyderms – Dara, Amoi and Kelat – responding to the Malaysian visitors, while another widely shared clip led social media users to claim one of the elephants appeared to be “weeping”. Other clips and images...

alexsl Stock index futures were muted as Wall Street looked to kick off the month of May on an optimistic note. Dow futures ( INDU ) rose 0.13%, while S&P 500 futures ( SPX ) edged up 0.15% and Nasdaq 100 futures ( US100:IND ) slipped 0.14%. Apple ( AAPL ) gained 3% in premarket trade after the technology giant reported quarterly results that were above Wall Street’s forecast. Investors were looking ahead to PMI Manufacturing Final and ISM Manufacturing Index data. U.S. Treasury yields moved higher across the curve. The 10-year Treasury yield ( US10Y ) rose 2.2 basis points to 4.40%, while the 2-year Treasury yield ( US2Y ) climbed 2.5 basis points to 3.90%. The 30-year Treasury yield ( US30Y ) advanced 2 basis points to 4.99%. Top gainers in premarket trading included TKO Group ( TKO ) +3.99%, GoDaddy ( GDDY ) +3.01%, and Labcorp ( LH ) +3.00%. Decliners included Western Digital ( WDC ) -8.17%, Clorox ( CLX ) -7.23%, and Sandisk ( SNDK ) -5.97%. More on markets Why The S&P 500's 10% April Surge May Have Legs, Even With $4+ Gas Without Government Spending And Trade, GDP Rose By 2.5% In Q1, Boosted By AI Investments GDP Prints At 2%, But There's Noise In The Numbers