To The Moon

$NIO Inc.(NIO)$ On Thursday morning in Beijing, WTI crude had fallen 8.82 per cent and Brent had declined 9.13 per cent. After the Democratic sweep, markets increased the probability of de-escalation between the US and Iran and reconsidered the prospect of commercial traffic returning to the Strait of Hormuz. Lower oil can ease inflation and rate pressure, supporting valuations for large technology shares.

The Strait had not returned to normal commercial traffic, however, and no final agreement had been announced. Oil reflected a rapid reduction in the war premium rather than the removal of supply risk. A breakdown in negotiations could lift crude prices and inflation expectations again. The durability of the large-cap rally therefore depends partly on oil staying lower, not simply on the election-day reaction.

Qualcomm fell 7.52 per cent after-hours as handset weakness outweighed automotive growth

$Qualcomm(QCOM)$ closed up 5.33 per cent and fell 7.52 per cent after results. Fourth-quarter financial-year 2026 non-GAAP revenue declined 7 per cent to $10.442 billion, while non-GAAP earnings fell 28 per cent to $2.17 a share. Handset-chip revenue dropped 26 per cent to $5.14 billion as higher memory and component costs reduced purchasing capacity among smartphone manufacturers.

Automotive revenue was the bright spot, rising 89 per cent to nearly $2 billion and setting a quarterly record. Qualcomm reiterated its $5 billion financial-year 2027 data-centre revenue target and expects non-handset revenue to grow by more than 60 per cent. Automotive and data centres have not yet fully replaced handset earnings. Next-quarter earnings guidance of $2.15 to $2.35 a share had a midpoint below prior