🎁Q2 earnings season is here! Share your trades and split big prizes
【Contest】Q2 earnings season kicks off: Taiwan Semiconductor and ASML Holding lead the test of AI-related market sentiment, as Wall Street majors陆续 report results—Weekly Earnings Recap (7/13–7/17)
Don't miss out! Join the prediction game and win 66 points!Hello, fellow investors!Over the past few weeks,global markets have undergone a pivotal shift. Market dynamics have moved beyond simple rate-cut expectations to focus onsticky inflation and the deep erosion of cross-border supply chains caused by geopolitical tensions,with the global AI sector now entering a paradigm shift—from infrastructure build-out toward monetization through commercial applications.
Over the past few weeks,global markets have undergone a pivotal shift. Market dynamics have moved beyond simple rate-cut expectations to focus onsticky inflation and the deep erosion of cross-border supply chains caused by geopolitical tensions,with the global AI sector now entering a paradigm shift—from infrastructure build-out toward monetization through commercial applications.Against this backdrop, market patience is gradually wearing thin. Capital is no longer paying solely for GPU purchases; instead, it’s rigorously scrutinizing tech giants: their ability to convert computing power investments into high-margin revenue from real-world applications has become the key metric for assessing valuations and future upside potential.
The Physical Limits and Geopolitical Shoals of Global AI Compute—ASML Holding and Taiwan Semiconductor
As foundational enablers of AI compute, lithography leaders $ASML Holding (ASML.US)$ and the foundry leader $Taiwan Semiconductor (TSM.US)$ are now gripping the throat of the tech world and are the first to face the test of this shifting tide. ASML Holding, at the very top of the supply chain, will release its earnings before the market opens on July 15 Beijing time, navigatingunder pressure from geopolitical barriers and export controls reshaping regional demand structuresEUV lithography tool delivery timelines and capacity plans; behind the global push for diversified capacity expansion, shipment restrictions to specific regionscaused by regulatory policies remain a significant overhang. The key focus of this quarter’s earnings is whether new orders from other regions can continue to absorb the structural impact stemming from constrained markets.Moving down the supply chain, the focal point of the storm, Taiwan SemiconductorTaiwan Semiconductor, faces a balancing act between technological limits and geopolitical costs. Following closely behind, Taiwan Semiconductor will report earnings before the market opens on July 16 Beijing time, with itsCoWoS packaging capacity constraintshave become the primary bottleneck for current AI server shipments, andthe yield and production ramp-up pace of the 2nm process, on the other hand, represent the key variable determining whether high-end computing supply can be sustained over the next few years; meanwhile, the multinational multi-site expansion being actively pursued has led tosubstantial operational and depreciation costs, prompting Taiwan Semiconductor to adjust its foundry pricing and product mix to maintain a long-term gross margin target of approximately53%. Should traditional consumer electronics recovery remain weak, anddownstream giants slow their capital expenditures due to AI monetization falling short of expectations, Taiwan Semiconductor—whose revenue structure is becoming increasingly sensitive to the AI/HPC cycle—will face significant risks from demand volatility.
![[Gift]Don’t miss out! Join the prediction contest to win 66 points! Hello, fellow investors![Clap]Over the past few weeks,global market sentiment has undergone a pivotal shift.Market focus has shifted from pure rate-cut expectations tosticky inflation and the deepening erosion of global supply chains by geopolitical tensions,with the global AI sector now undergoing a paradigm shift—from infrastructure build-out toward monetization through commercial applications. Against this backdrop, market patience is gradually wearing thin. Capital is no longer just funding GPU purchases; instead, it’s rigorously scrutinizing tech giants on whether they can effectively convert their computational investments into high-margin revenue from real-world applications—this has become the key metric for assessing their valuations and future upside potential. The Physical Limits and Geopolitical Shoals of Global AI Computing Power — ASML Holding and Taiwan Semiconductor [Happy]As the foundation of AI computing power, lithography giant $ASML Holding (ASML.US)$ and foundry leader $Taiwan Semiconductor (TSM.US)$ are now controlling the chokepoint of the tech world and are the first to face the test of this shifting tide. ASML Holding, at the very top of the supply chain, will release its earnings before the market opens on July 15 Beijing time, navigatinggeopolitical barriers and export controls reshaping regional demand structuresMarket participants are closely watching itsEUV lithography tool delivery progress and capacity planning; behind the global push for diversified capacity expansion, shipment restrictions tospecific regions due to regulatory policiesremain a significant overhang. The key focus of this quarter’s earnings is whether new orders from other regions can sustain...](https://nnqimage.futunn.com/sns_client_feed/999982/20260714/web-1784033280538-oCZhEnCYxP.jpeg/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Convergence of premium assets—revaluation of financial, technology, and defensive equities
As ASML Holding and Taiwan Semiconductor define the physical boundaries of technology, other industry giants arereshaping the economic framework across three dimensions: liquidity, end-market monetization, and defensive hedgingOn the financial reservoir front,$JPMorgan (JPM.US)$ And, $Goldman Sachs (GS.US)$JPMorgan will be the first to report ahead of the market open on July 14 Beijing time: as the leading commercial bank, its net interest income guidancewill reveal whether the credit-driven earnings tailwind under high interest rates has peaked; meanwhile, results from Goldman Sachs, a major investment bank, will signalthe pace of recovery in cross-border M&A and IPO activities, with data from these two financial titans jointly forminga barometer for global macroeconomic sentiment。
As high-valuation sectors face repricing, market attention is also turning tothe twin defensive healthcare leaders。Expected to report earnings before the market opens on July 15 Beijing time, $Johnson & Johnson (JNJ.US)$ and will report earnings before the market opens on July 16 Beijing time $UnitedHealth (UNH.US)$ , their moves are critically important: diversified healthcare giant Johnson & Johnson’s growth momentum in innovative pharmaceuticals and medtech is key to sustaining its valuation; for health insurance giant UnitedHealth, whether its medical loss ratio remains within a healthy range directly determines market interest in defensive sectors,as any significant deviation in the loss ratio would adjust the relative attractiveness of safe-haven assets.
On the consumer monetization front, streaming giant $Netflix (NFLX.US)$ will face scrutiny after market close in the early hours of July 17 Beijing time. With user growth tailwinds slowing, the market is closely examining its progress in monetizing new businesses such as ad-supported subscriptions and live sports broadcasting, which determines whether its high-valuation thesis still holdsamid persistently high content production costs.
Quick Scan of Industry Pillars
Beyond the core mega-caps, several mid-tier companies engaged in physical manufacturing also offer us a micro-level perspective for observing economic details. Commercial banks closer to the consumer end $Bank of America (BAC.US)$ 、 $Citigroup (C.US)$and$Wells Fargo & Co (WFC.US)$will simultaneously release their earnings before the market opens on July 14 Beijing time. Amid persistent inflation and high interest rates, credit card debt and delinquency rates have risen significantly; whether loan loss provisions at these three banks show a notable increase in their earnings reports will directly illustrate the true state of consumer credit quality.
Investment banking and wealth management giants $Morgan Stanley (MS.US)$will report earnings before the market opens on July 15 Beijing time. The performance of their net new asset inflows in wealth management and advisory fees from investment bankingwill demonstrate financial resilience under an asset-light business model, and their results will serve as a key barometer of investor confidence in the market.
A bellwether for industrial and aerospace recovery $GE Aerospace (GE.US)$ ，is scheduled to release its earnings before the market opens on July 16 Beijing time.With sustained global recovery in air travel demand, the company plans to investtens of billions of dollars to upgrade its production lines and supply chain by 2026.Whether delivery progress on its aerospace engines and supply chain bottlenecks have seen substantive relief will be a critical window into assessing the challenges facing the global high-tech manufacturing recovery; any renewed disruption to delivery schedules would not onlyThe pace of recovery in the aviation industry will need to be reassessed, as will the investment cycle for high-end manufacturingwhich could also face another round of delays.
This quarter’s earnings reports are a key window for observingthe commercialization progress of AIand the resilience of the global economy. Differences among sector leaders intechnological barriers, capital expenditure timing, and cash flow resiliencewill become critical factors for the market to assess their medium- to long-term prospects, and also provide valuable insights for us to gaugemarket direction in the second half of 2026as an important reference point.
This earnings season is a moment of truth for testing investment theses: whether the narratives around AI, finance, and healthcare truly justify their valuations will soon become clear.
Before the results are revealed, pick the company you think is most likelyExceeding expectationsandto disappoint unexpectedlyJoin the Q2 earnings guess game to test your insight and win 66 points!
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「Earnings Flash」AI cuts through the noise—build your options strategy in three steps!![[Gift]Don’t miss out! Join the prediction contest to win 66 points! Hello, fellow investors![Clap]Over the past few weeks,global market sentiment has undergone a pivotal shift.Market focus has shifted from pure rate-cut expectations tosticky inflation and the deepening erosion of global supply chains by geopolitical tensions,with the global AI sector now undergoing a paradigm shift—from infrastructure build-out toward monetization through commercial applications. Against this backdrop, market patience is gradually wearing thin. Capital is no longer just funding GPU purchases; instead, it’s rigorously scrutinizing tech giants on whether they can effectively convert their computational investments into high-margin revenue from real-world applications—this has become the key metric for assessing their valuations and future upside potential. The Physical Limits and Geopolitical Shoals of Global AI Computing Power — ASML Holding and Taiwan Semiconductor [Happy]As the foundation of AI computing power, lithography giant $ASML Holding (ASML.US)$ and foundry leader $Taiwan Semiconductor (TSM.US)$ are now controlling the chokepoint of the tech world and are the first to face the test of this shifting tide. ASML Holding, at the very top of the supply chain, will release its earnings before the market opens on July 15 Beijing time, navigatinggeopolitical barriers and export controls reshaping regional demand structuresMarket participants are closely watching itsEUV lithography tool delivery progress and capacity planning; behind the global push for diversified capacity expansion, shipment restrictions tospecific regions due to regulatory policiesremain a significant overhang. The key focus of this quarter’s earnings is whether new orders from other regions can sustain...](https://nnqimage.futunn.com/sns_client_feed/999982/20260710/web-1783680954218-9UYbhQ3jsA.png/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Futubull AI Instant Q&A resolves your doubts; AI-powered stock selection locks in potential upside, while portfolio analysis helps seize opportunities and avoid risks!![[Gift]Don’t miss out! Join the prediction contest to win 66 points! Hello, fellow investors![Clap]Over the past few weeks,global market sentiment has undergone a pivotal shift.Market focus has shifted from pure rate-cut expectations tosticky inflation and the deepening erosion of global supply chains by geopolitical tensions,with the global AI sector now undergoing a paradigm shift—from infrastructure build-out toward monetization through commercial applications. Against this backdrop, market patience is gradually wearing thin. Capital is no longer just funding GPU purchases; instead, it’s rigorously scrutinizing tech giants on whether they can effectively convert their computational investments into high-margin revenue from real-world applications—this has become the key metric for assessing their valuations and future upside potential. The Physical Limits and Geopolitical Shoals of Global AI Computing Power — ASML Holding and Taiwan Semiconductor [Happy]As the foundation of AI computing power, lithography giant $ASML Holding (ASML.US)$ and foundry leader $Taiwan Semiconductor (TSM.US)$ are now controlling the chokepoint of the tech world and are the first to face the test of this shifting tide. ASML Holding, at the very top of the supply chain, will release its earnings before the market opens on July 15 Beijing time, navigatinggeopolitical barriers and export controls reshaping regional demand structuresMarket participants are closely watching itsEUV lithography tool delivery progress and capacity planning; behind the global push for diversified capacity expansion, shipment restrictions tospecific regions due to regulatory policiesremain a significant overhang. The key focus of this quarter’s earnings is whether new orders from other regions can sustain...](https://nnqimage.futunn.com/sns_client_feed/999982/20260710/web-1783664187108-6kNNftzuTf.webp/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
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