Review of Key Insights from TVB Program 'Niu Niu Talks U.S. Stocks' (December 8-12, 2025)

Li Guanhao: $Netflix (NFLX.US)$ Last Friday, the chairman expressed considerable confidence in the deal to investors, arguing that $Alphabet-C (GOOG.US)$ compared to large-scale digital media platforms such as YouTube and TikTok, Netflix may not necessarily form a monopoly. Currently, there are indeed two major competitors in the market: Disney+ and Amazon Prime. Additionally, some subscribers of Warner Bros overlap with Netflix users, which can be explained as complementary rather than constituting an absolute monopoly.

Assuming the transaction proceeds smoothly, Netflix may experience a short-term correction of approximately 10% due to market absorption of the newly added $10.7 billion in debt and integration costs, potentially reaching the $90 level. However, future growth driven by strong content IP and advertising revenue suggests that investors could consider using short-side options to acquire shares at a lower price.

Chen Hongming: Powell might take this opportunity to announce a bond-buying program amounting to $45 billion per month for at least six months. This is not an ordinary operation but is considered a form of "technical easing" aimed at replenishing depleted reserves within the banking system. If implemented, this would inject nearly $270 billion in liquidity over six months, providing significant support for highly valued technology stocks $Technology (LIST20763.US)$ and cryptocurrencies $Crypto (LIST20010.US)$ as key drivers for continued upward movement.

Huang Zizheng:It can also be observed that U.S. equities are consolidating at highs but lack clear direction, $NVIDIA (NVDA.US)$ NVIDIA successfully persuaded the U.S. government to grant it an export license for its H200 chips to China, but the market response has been muted. There seems to be concern that even if the U.S. allows exports, whether China will purchase them remains uncertain. After all, the H200 chip is already a 2023 product and cannot be considered cutting-edge. The last time NVIDIA obtained an export license for the H100 chip, it failed to find buyers in China. At present, the granting of an H200 export license has not elicited an enthusiastic response from China, leaving the market in a phase of speculation, with no visible impact on share prices.

Fu Kai: $Oracle (ORCL.US)$ Following the earnings release, investor selling sentiment surged due to overall revenue and cloud segment income falling short of expectations. A critical factor is Oracle’s alignment with the GPU camp supporting ChatGPT, while competition from Gemini's TPU has recently created pressure on Oracle’s future profit outlook. Additionally, high leverage risk must be noted. Oracle's current debt levels are already very high, and to fulfill its AI orders, the company will need to maintain extremely high capital expenditures over the next few quarters. This will severely squeeze free cash flow, raising concerns about the health of its balance sheet.

Feng Wenhui: $Visa (V.US)$ Management has also mentioned that the launch of stablecoin payments aims to enable anyone, anywhere in the world, to access funds more quickly and conveniently within minutes rather than days. Following the passage of the GENIUS ACT, the regulatory environment in the United States has become clearer, with an increasing number of traditional financial firms deploying resources in this field. Visa’s continuous business expansion and commitment to innovative products have successfully driven its transformation and reshaped the industry landscape.

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