Chamath Palihapitiya的看法和高盛的报告完全不一样！2026 他还是推荐铜！而高盛..... 高盛警告：铜价近期飙升至1.3万美元以上，已严重脱离基本面，主要受美国关税预期引发的囤货潮和投机资金推动。 预计二季度关税落地后，市场将回归全球供应过剩现实，铜价面临大幅回调风险。 高盛数据显示，2025年全球铜市供应过剩600千吨，为2009年以来最大规模；受高价抑制需求及废铜供应增加影响，2026年过剩预期从160千吨上调至300千吨。 投机持仓已达历史高位。高盛分析，CME投机多头持仓占比虽未极端，但处于本轮上涨后期阶段。 模型显示，投机净持仓每增1%，铜价平均上涨0.4%。若要进一步推高至1.4万美元，需CME管理资金净多头持仓占比从12月底的24%升至约30%。

MARKET UPDATE CONSUMER 🔸 $SPWH Q4 adj. EPS $0.04 (est. -$0.06) on revs $340.4M (est. $329.6M), comps -0.5%. Expects positive comps in 2025; sees FY net sales -1% to +3.5% (est. +0.4%). 🔸 $TSLA sold 78,828 China-made EVs in March (-11.5% YoY); Model 3/Y deliveries +156.9% MoM. ENERGY, INDUSTRIALS & MATERIALS 🔸 Oil dips amid tariff, sanction concerns; OPEC+ supply and mixed policies add downside risks. 🔸 $BHP considers spinning off Australian iron ore & coal units. 🔸 $ED files debt securities shelf. 🔸 $SMG upgraded to Buy at Truist. FINANCIALS 🔸 $OZK raises dividend 2.38% to $0.43/share. 🔸 $SCHW upgraded to Buy at Citi, PT raised to $102 (from $85). 🔸 $SMA prices 27M-share offering at $30.00. 🔸 $V offers AAPL ~$100M for Apple Card deal (WSJ). HEALTHCARE 🔸 $ANGO Q3 adj. EPS -$0.08 (est. -$0.13) on revs $72M (est. $70.3M); raises FY guidance. 🔸 $EWTX reports positive Phase 2 data for EDG-7500 in HCM trial. 🔸 $LLY clarifies no ties to HIMS, Zepbound prescribable by any licensed provider. 🔸 $ENOV names Damien McDonald CEO (effective May 12). TECH, MEDIA & TELECOM 🔸 $MBLY selects VLN’s VA7000 chipsets for autonomous driving. 🔸 $NCNO Q4 adj. EPS -$0.09 (est. $0.19) on revs $141.4M (est. $140.8M); announces $100M buyback; guides Q1 revs $138.75-$140.75M (est. $145.47M) and EPS $0.15-$0.16 (est. $0.21). 🔸 $RMBL fires CFO Tiffany Kice (effective April 2, 2025), appoints Michael Quartieri as interim CFO.

#Upgrades - Sep 16, 2024 $ACRV: Ladenburg Thalmann Upgrades to Buy from Neutral $AEE: Mizuho Upgrades to Outperform from Neutral - PT $89 (from $82) $BHP: Bernstein Upgrades to Outperform from Market Perform $BLDR: Truist Securities Upgrades to Buy from Hold - PT $220 (from $165) $BNTX: JPMorgan Upgrades to Neutral from Underweight - PT $125 (from $91) $CHCT: Evercore ISI Upgrades to In Line from Underperform - PT $18 $CMPX: Ladenburg Thalmann Upgrades to Buy from Neutral - PT $5 $DK: Mizuho Upgrades to Neutral Underperform - PT $26 (from $28) $EGP: Evercore ISI Upgrades to Outperform from In Line - PT $204 $ENTG: Citi Upgrades to Buy from Neutral - PT $130 (from $119) $GTLS: Morgan Stanley Upgrades to Overweight from Equalweight - PT $175 $KMI: Morgan Stanley Upgrades to Equalweight from Underweight - PT $24 $OKE: Morgan Stanley Upgrades to Overweight from Equalweight - PT $111 (from $103) $ORCL: Melius Upgrades to Buy from Hold - PT $20 $SFM: Evercore ISI Upgrades to Outperform from In Line - PT $120 (from $96) $SLG: Evercore ISI Upgrades to In Line from Underperform - PT $66 $SPG: Evercore ISI Upgrades to Outperform from In Line - PT $172 $ZG: Wedbush Upgrades to Outperform from Neutral - PT $80 (from $50)