Amazon has directly raised its capital expenditure for 2026 to $220 billion, $20 billion more than estimated, planning to invest 1.6 trillion RMB in one year. The numbers look staggering, but combined with the latest earnings report, this spending is far from reckless. 🤔 Specifically, there are three core logics: 🪁 Demand is not a false boom; cloud business growth is fully maxed out AWS Q2 revenue surged 37% year-over-year, marking the highest growth rate in nearly four years, with backlog orders approaching $500 billion. CEO Jassy also admitted that including plans for 2027 and 2028, computing power remains in short supply. This shows that enterprise demand for AI and cloud services is genuinely strong. 🪁 The additional $20 billion largely goes to covering costs This budget increase is not just for building more data centers but also forced by rising hardware prices. High-end storage and chips are in short supply, pushing procurement costs higher. A significant portion of the new funds is to absorb the rigid cost increases in the supply chain. 🪁 Short-term cash flow is negative, but the arms race giants have no way out The aggressive spending has caused Amazon’s free cash flow to turn negative over the past 12 months, but this is a strategic investment. Whoever lags in computing power will lose customers to Microsoft or Google. As long as demand is real, heavy asset infrastructure will yield steady returns over several years, and short-term tightness is fully controllable. ✍️ Looking ahead, several trends can be predicted: 🪁 Bottlenecks shift; storage and power become new pain points Buying GPUs alone is not enough; storage components and power supply are becoming new capacity chokepoints. Whoever can secure stable energy and supply chains will be able to truly deliver computing power. 🪁 In-house chip development will accelerate Facing expensive procurement costs, Amazon will push its own Trainium and Graviton chips more aggressively. This will reduce costs for customers and save money for itself, boosting profit margins. 🪁 Upstream hardware supply chain continues to quietly profit The AI infrastructure arms race that giants can’t stop directly benefits upstream high-end storage, optical modules, and data center power suppliers. This boom is expected to last a long time. In summary, Amazon’s budget increase is driven by strong demand and cost pressures. The AI infrastructure arms race among tech giants is far from over; the midgame has just begun. Not investment advice DYOR #财报观察员：亚马逊指引不及预期，股价却反涨9%

#30年期美债收益率创19年新高 What exactly is the market worried about? Recently, the market has shown a very contradictory phenomenon. On one hand, it is trading on rate cut expectations, while on the other hand, the 30-year US Treasury yield has been surging, once breaking through 5.27% at the end of July, the highest level since 2007. Many people are puzzled: hasn't inflation already cooled down? Why are long-term interest rates still rising? The core reason is actually very simple: The market is starting to doubt whether US inflation has truly ended. This round of long bond increases mainly hinges on three factors. 🪁 First is oil prices. Recently, oil prices have strengthened again, and the market worries that energy prices will push inflation up once more. Although the June PCE data showed cooling, investors are more focused on whether oil prices will bring inflation back up in the coming months. 🪁 Second is the resilience of the US economy. Previously, the market expected economic slowdown, Federal Reserve rate cuts, and a decline in long bond yields. But in reality, US consumption remains strong, corporate investment has not clearly stopped, and AI-related capital expenditures continue to expand. No obvious recession means interest rates are unlikely to fall quickly. 🪁 Third is US fiscal pressure. This might be the biggest logic behind the rise in long-term interest rates. The US will need to issue a large amount of government bonds in the coming years. If the market feels there is too much bond supply, it will demand higher yields to buy. So what’s rising now is not just interest rates, but the market’s repricing of the US long-term debt cost. 🤔 So is 5.3% really the peak? My view is that there will be pressure here in the short term, but it’s not certain this is the end. 💡 Next, focus on three signals: If oil prices continue to rise, US economic data remains strong, and fiscal deficit pressure does not ease, the 30-year Treasury may continue to challenge 5.5%. But if employment starts to cool, consumption weakens, and inflation continues to fall, then around 5.3% could become a temporary peak. For the market, US Treasury yields are the true valuation anchor. One important reason AI stocks, tech stocks, and even BTC have enjoyed high valuations in recent years is the low interest rate environment. Now that the 30-year Treasury stands above 5%, it’s essentially telling the market: The risk-free rate has risen, so asset valuations need to be recalculated. Therefore, what really matters in August is not just whether the Fed will cut rates, but whether long-term Treasuries can continue to break higher. ✍️ My judgment: Short-term risk assets may still be suppressed, especially high-valuation tech stocks. But if long bonds peak and fall back, capital may flow back into growth assets. The 5.3% level, in a sense, is a vote on the US economy for the next decade. Whether the market believes the US can continue high-speed growth or starts worrying about debt and inflation will determine the big direction in the coming months. DYOR Not investment advice

Unspoken rules of social circles: the worse off you are, the warmer they get; the stronger you are, the farther they stay away from you. Does posting too much on social media invite jealousy? You can now stop and scroll through your own social circle posts to see if there’s a cruel and abnormal truth about human nature hidden inside. Many don’t realize that the better you do, the more comfortable your life is, the fewer likes you get on social media. Think back a few years ago, when you stayed up late working on a project, posting a selfie with dark circles eating instant noodles, captioned "working is so hard," wasn’t the comment section lively? Filled with hugs and sympathy, promises to treat you to a good meal next time. But now? After all your hardships and finally making it, you post a photo of your new car or a grid of your family vacationing on an island, hoping everyone will be happy for you, but the comments suddenly go silent. Even stranger, if you look closely at the list of likes, those who still like your posts are either your unconditionally supportive parents, acquaintances you haven’t contacted in ages with no conflicts of interest, real estate agents, or micro-business sellers. Those close friends, old classmates, and former colleagues seem to have collectively disappeared as if by agreement. Are they really so busy they don’t even have time to scroll their phones? Don’t be silly, definitely not. When you meet them offline at a dinner, you’ll find something both ridiculous and painful: they know exactly where you traveled, what fancy meals you had, and what brand of bag you bought. They might even half-jokingly tease you: "Hey, Old Li’s making money lately, eating Michelin meals every day, but never helps out his brothers." They clearly see every post, some even zoom in to study the photos carefully, but they absolutely refuse to tap that heart. Why? Because from the moment their eyes decide to swipe away, the gears of jealousy start turning deep in the darkest corners of human nature. Once you see through this, you’ll understand that likes in adult social circles are the lowest threshold for social validation. I’ve always called it the peer social filter. Simply put, when you and they earn similar salaries, rent similar apartments, squeeze into the same subway line during rush hour, and live similarly tough lives, a like from them means: "Brother, we’re on the same level, both struggling in the mud, I understand your pain, I support you." At this point, likes are safe, a way for the weak to band together for warmth. But once you start moving up, like secretly making money on the side, doubling your salary with a job change, or finding a partner with great conditions, this filter of shared misery instantly shatters. Your improvement becomes a glaring human mirror, directly reflecting their current mediocrity and stagnation. At this point, asking them to like your post is a joke. If they tap that like, it’s like biting their tongue to admit you’re doing better than them now, and they’re not. This goes against the little self-esteem humans have. Admitting someone else’s excellence highlights their own incompetence—who wants to do something that only adds to their own frustration? Psychology has a precise concept called relative deprivation. Simply put, a person’s sense of happiness is never judged by how many zeros are in their bank account or whether they’re eating instant noodles or steak tonight. They only look at one thing: how the people around them are doing. Even if they have no worries about food or clothing, own a car and a house, once they find that someone who used to be about the same or even worse off than them is suddenly doing better, their sense of happiness instantly evaporates, replaced by a strong feeling of deprivation. It’s as if the money you earned was taken from their pocket, and the glory you enjoy has stolen their spot. We often freely like posts from millionaires online or distant celebrities and influencers, but find it hard to genuinely praise friends nearby. As philosopher Russell sharply pointed out: a beggar won’t envy a millionaire driving a Rolls-Royce, but he will definitely envy another beggar who earned a few more coins today. Because the millionaire is too far away, but you are too close. You once started at the same starting line, so why are you flying ahead now? The real world is this cruel. Most acquaintances can accept you doing well, but absolutely cannot accept you doing better than them. If you’re struggling, they might sympathize and comfort you; if you’re doing too well, they will secretly compete with you. Your excellence itself is an offense in their eyes. Once you understand this, you’ll grasp a truth about human nature that overturns common perceptions. Those so-called acquaintances not liking your posts is never because your content is boring or your showing off is annoying, but because the self-value and lifestyle you display subtly threaten their fragile and sensitive self-esteem. Since posting on social media easily invites jealousy and hurts others, does that mean we must pretend to be poor every day and hold back from posting? Buy something nice but hide it for fear of being seen? Or even post a couple of unlucky updates deliberately to soothe others’ feelings? Of course not. Seeing through the gray areas of human nature is precisely to help us live more transparently and freely. Remember, the phone is your own purchase, the data plan is your own expense, and your social circle is your own digital diary. It’s not a shelter to protect others’ fragile self-esteem, nor a showcase to beg for approval. Post when you’re happy, show off boldly if you want. Post about a nice meal today, a new car tomorrow, a promotion and raise the day after with the most boastful caption. You don’t need those few pathetic likes below to confirm your value. Life is built step by step by yourself, not lived in others’ likes. If your rising light hurts some people’s eyes, they should wear sunglasses, not you extinguish your own light. When one day you post something brilliant and dazzling and find the comments silent, not a single like from acquaintances, don’t doubt yourself or think you did something wrong. Instead, just smile quietly inside. Because that dead silence, those pairs of eyes behind the screens burning red with jealousy, are the best proof that you are quietly rising, crossing social classes, and leaving others far behind. Your highlight moment no longer needs their likes to crown it. Remember, in the jungle law of adults, their silence is your greatest recognition.

#Tether quarterly profit of 1.5 billion, gold reserves increase to 146 tons Tether earned $1.5 billion in Q2, gold reserves surpassed 146 tons, is USDT becoming another financial giant? Tether's latest disclosed Q2 data shows a quarterly net profit of about $1.5 billion, USDT circulation reaching around $184 billion, and gold reserves increasing to approximately 146 tons. Many people's first reaction to this news is Tether is making a killing again But what I think is truly worth paying attention to is that Tether is quietly changing its positioning. Previously, everyone understood Tether simply: Users deposit dollars, Tether issues USDT, then uses reserve funds to buy U.S. Treasuries to earn yield. This business model is already very strong. But now Tether is doing something else: Dollar assets + gold + Bitcoin + ecosystem investments. It is gradually transforming from a stablecoin issuer into an asset management platform within the crypto world. The clearest signal is buying gold. Currently, Tether's gold reserves have exceeded 146 tons. Why would a company issuing a dollar stablecoin allocate a large amount of gold? Because it likely foresees changes in the global financial environment over the next few years. High debt, high deficits, and currency credit volatility are making gold an important direction for institutional asset allocation again. Tether is not putting all its eggs in the dollar basket but diversifying its assets. Another easily overlooked point: USDT growth rate is starting to slow down. Many see this as a bad thing, but I think it reflects market maturity. In previous bull markets, large amounts of retail funds rushed directly into exchanges, causing USDT demand to surge. Now, more institutional funds are entering the market through ETFs, custody, funds, and other means, increasing the channels for capital inflow. This indicates the crypto market is evolving from a pure trading market into financial infrastructure. Tether's real strength lies in controlling the most important thing in the crypto market: Liquidity ☝🏻 Many projects have high market caps but lack stable cash flow. Tether is different. Every additional USDT in circulation corresponds to a batch of reserve assets behind it, which can continuously generate income. This is why it increasingly resembles a financial company rather than a simple blockchain project. Of course, risks cannot be ignored. The biggest variable remains regulation. USDT's scale has reached a level that attracts global financial market attention, and future regulation will certainly become stricter. Also, if the market enters a prolonged bear phase, demand for funds will decline, affecting stablecoin growth and profits. But in the long term, I believe stablecoins might be the biggest entry point for the crypto industry. In recent years, the focus has been on exchanges, public chains, and DeFi. In the coming years, attention may shift to who controls global dollar liquidity. What Tether is doing now is essentially building a dollar financial system for the crypto world. On the surface, it is a stablecoin, But behind it connects dollars, gold, Bitcoin, and global capital flows. This may be USDT's greatest value. DYOR Not investment advice

#美股加密标的承压，币价波动影响财报 Recently, US-listed crypto assets have been under pressure, and price volatility is directly impacting earnings reports. Strategy announced Q2 earnings after market close yesterday, reporting a net loss of 8.22 billion, almost entirely due to fair value write-downs on Bitcoin holdings, purely an accounting loss. As of July 26, they still held 843,775 BTC with an average cost of $75,476. Since they had given an early warning, there was almost no movement after hours, closing at 97.74. Coinbase reported revenue of 1.22 billion on the same day, below expectations, down about 19% year-over-year, with a net loss of 360 million. The main reason was a decline in trading volume, and the stock fell 5% to 7% after hours. Bitcoin is now fluctuating around 64K. I think these two companies represent completely different approaches. Strategy is essentially a Bitcoin leverage tool; GAAP figures are noisy, and the real focus is on coin holdings and the balance sheet. This quarter, they reduced debt and hoarded cash, which is a pragmatic move. Coinbase is a legitimate business; subscription services now account for nearly half, market share is hitting new highs, and resilience is improving, but in the short term, it’s still tied to trading volume. In the short term, August historically isn’t very friendly to crypto, with funds on the sidelines. If the price breaks below 60K, both companies will face more pressure. But if it stabilizes or slowly recovers, Strategy’s accounting write-downs will reverse quarterly, showing the greatest elasticity. Coinbase will need to wait for trading volume to truly recover. Long term, I’m optimistic. We’re near the cycle bottom, institutional funds are still present, and there’s a chance for a rise in the second half of this year or next year. Don’t chase in the short term; wait for more stable price signals before acting. DYOR Not investment advice

#PCE month-over-month turns negative, GDP growth slows to 1.5% As soon as this set of data came out today, the community started debating again. The numbers just released by BEA basically match the trending topics. June PCE dropped 0.1% month-over-month, the first negative turn since 2020, and year-over-year fell from 4.1% to 3.7%. Core PCE rose 0.1% month-over-month, 3.3% year-over-year, close to expectations. On the same day, the initial annualized GDP estimate for Q2 was only 1.5%, below market expectations, but after excluding net exports, inventories, and government spending, domestic private final sales surged to 3.9%, hitting a new high since early 2023. I don't really believe the PCE turning negative marks the start of a trend of cooling. Oil prices clearly fell from high levels in June, and the energy component pulled the headline down significantly. The core remains firm, just not accelerating. Historically, this kind of situation—oil prices helping to suppress the headline while the core hovers around 3.3%—has happened several times, and later service inflation often pulls it back up. So now I’m more focused on July data, especially whether core services and rent can continue to soften. If core remains above 0.2% in July, this negative turn is likely just a one-month disturbance. Regarding GDP, I’m actually more focused on the 3.9%. Many people focus on the 1.5% and say the economy is slowing, but the slowdown mainly comes from a surge in imports and inventory decline. The private final sales, which truly reflect whether consumers and businesses are still spending, clearly accelerated. This shows domestic demand hasn’t collapsed; the tightening camp still has cards to play. The economy isn’t undergoing a soft landing; it’s more like a resilient slowdown. I haven’t adjusted my positions much for the second half of the year. This data pushed down the pricing for a September rate hike somewhat, which is short-term positive for risk assets. BTC also nudged up near 65k today. But I won’t chase heavy longs because the core inflation hasn’t truly come down, and private demand is still strong. The Fed will likely need to see another month or two of data before fully letting go of rate hikes. I’m now more inclined to maintain some positions in $BTC and $ETH—these core assets with good liquidity. Avoid chasing volatile small coins, control leverage, and don’t fantasize about rate cuts just because of one negative month. Keep watching July PCE and oil price trends; these two will decide if there’s any chance in September. In short, inflation cooling is real but not clean enough; economic slowdown is real but domestic demand remains strong. This kind of half-baked data makes the market hesitant to take heavy positions on either side. If your position is already heavy, I suggest reducing leverage and waiting for July data. If you’re empty or light, you can slowly build some core positions during this easing sentiment. DYOR Not investment advice

The AI stock god was crushed, and the biggest myth on Wall Street these past two days has been shattered Leopold Aschenbrenne, a 24-year-old German and former OpenAI employee, wrote a 165-page long article predicting the arrival of AI superintelligence. He used this story to raise funds and started a hedge fund With just 8 people, 4x leverage, heavily invested in SK Hynix, Micron, SanDisk—storage and computing hardware—and shorted traditional software. In the first half of the year, they directly achieved a 439% return, and the fund size soared to $45 billion, a legendary operation But in July, when AI hardware pulled back, the long positions were halved, shorts also lost, and with leverage magnified, the fund was liquidated. Within 36 hours, they urgently sold $16 billion worth of positions to Citadel at a significant discount Thoughts on this matter 🤔 1. Being right about the direction ≠ surviving to realize gains. Highly concentrated single theme + high leverage + long and short bets on the same narrative means a shift in sentiment kills instantly. Leverage is a double-edged sword: it creates myths on the way up and blows up on the way down 2. Wall Street only recognizes position management, not stories. Ken Griffin put it bluntly: many funds die because their positions are too concentrated but they can’t clearly explain their real edge. SA’s 439% in the first half, then blew up in weeks—essentially a risk management failure 3. The AI narrative is shifting gears, hardware is being repriced. The market is moving from infinite growth to whether capital expenditure can close the loop and how profits are divided. The valuation cuts in storage and AI hardware reflect this sentiment shift. Short term will continue to be volatile, but forced large-scale sell-offs, if absorbed, might signal a phase low. The key is the real demand and capex guidance from major companies going forward This story is so typical: a 24-year-old genius, one article, one narrative, +8 people +4x leverage, extreme concentration, then reality slams them hard in a pullback. One of the most extreme bubble cases in this bull market and also one of the most painful risk lessons A myth when rising, a textbook case when falling DYOR Not investment advice #美光暴跌后：是底部还是半山腰？

#Fed's three votes for rate hike, tonight's PCE becomes the new focus FOMC result last night: 9 votes in favor, 3 against, the fifth consecutive hold, interest rate maintained at 3.50%-3.75%. But the real signal lies in the minority votes and Waller's wording. Three regional Fed presidents, Harker, Kashkari, and Logan, simultaneously voted for a 25 basis point rate hike. This is the first time since 2016 that three dissenting votes for a rate hike appeared in the same decision. Hawks inside the Fed are publicly stating that the current inflation path is still not convincing enough. Waller's wording was tougher than market expectations, directly wiping out the residual pricing for rate cuts this year. CME immediately adjusted, raising the probability of a September rate hike to about 63%, and JPMorgan advanced the expected rate hike from the second half of 2027 to December this year. The market reaction is interestingly split: the Dow dropped over 2%, long-term US Treasury yields rose, but gold climbed back above $4100, and the crypto market warmed up instead. The simultaneous rise in rate hike expectations, gold, and crypto indicates that some funds do not believe the Fed can control inflation but rather doubt the stability of fiat currency. $BTC is currently at 63,975, down 0.22%, with a daily high of 64,704. No significant drop after the FOMC, which itself is a statement. Tonight at 20:30, the PCE data is the next key point. 👉🏻 If PCE exceeds expectations, the 63% rate hike probability will continue to rise, long-term rates will climb further, and the stock market will be under pressure. 👉🏻 If PCE is below expectations, the three hawkish votes will seem too aggressive, and the market will reprice a hold. My judgment is that the market underestimates the real probability of a rate hike; the three dissenting votes are a costly public statement, not just talk. If tonight's PCE cooperates, it's not hard for the September rate hike probability to rise from 63% to 80%. The current calm feels more like waiting for data; the real pressure has not yet been released. Stay on the sidelines before 20:30 tonight 👀 DYOR Not investment advice

#财报观察员：Microsoft Cloud revenue breaks 100 billion, but Meta's guidance disappoints—Is the AI story diverging? $BTC currently at 63930, the market is waiting for tonight's answers. Let's first talk about what came out last night. Microsoft Q4 revenue 90 billion, +18%, Azure growth accelerating, Copilot enterprise paying users data exceeded expectations. This is AI monetization, not just an AI story. Every Copilot subscription is a real monthly fee, every Azure AI call is a real bill. Meta revenue 60.8 billion, +28%, growth faster than Microsoft. But free cash flow hit a four-year low, capital expenditure expected to reach 130-145 billion. Market reaction was a drop. 🤔 Why does higher growth lead to a drop? Because these two companies are doing fundamentally different things. Microsoft is selling AI to enterprises, Meta is burning money on AI to build infrastructure. One is revenue, the other is investment. Meta's business model is essentially advertising; AI helps improve ad targeting precision, which is already reflected in revenue, +28% proves that. But Zuckerberg wants more than that; he is betting on AGI, the Llama open-source ecosystem, next-generation computing infrastructure. The return cycle on these investments can't be seen in a single quarter. 🤔 The question is: How long is the market willing to wait while burning so much money? I thought of a reference point: Amazon from 2013 to 2018. During those years, the market kept criticizing Bezos for burning cash without profits, but AWS was quietly becoming the world's largest cloud platform. Today AWS's gross margin supports all of Amazon. Zuckerberg is probably making the same bet, but the bet is on AI-era infrastructure. But here is a key difference: Amazon burned money to build the cloud with a clear B2B monetization path. What is Meta burning money to build? Open-source models, self-developed chips, super data centers—the beneficiaries are the entire industry. Where is Meta's own moat? Until this question has a clear answer, the continuous decline in FCF will remain a variable suppressing valuation. So this is not a divergence in the AI story, but a difference in monetization timing. Microsoft is taking the SaaS embedding route; AI is integrated into Office, Teams, Azure, enterprise customers pay per seat, cash flow is visible today. Meta is taking the platform reshaping route; AI will redefine what kind of company it is, and this answer may only be clear three years from now. Tonight's Amazon earnings report is the most important validation today. If AWS accelerates, it means enterprise AI cloud demand has not peaked, and Microsoft's Azure story becomes more solid. If AWS guidance falls short, then Microsoft's rise last night is an isolated event, not an industry resonance. Apple's highlight is service revenue and Apple Intelligence penetration rate, which is the first real data point of AI monetization on the consumer side. Once these two earnings reports are out, the full picture of AI monetization will be complete. Before that, there will be no conclusion on BTC's direction. DYOR Not investment advice

#SK Hynix's record-breaking earnings fall short of expectations, causing volatile storage stocks Q2 operating profit surged 557% year-over-year to 60.5 trillion KRW, a historic high, yet the stock price dropped The reason for missing expectations is counterintuitive The market expected 64 trillion, actual was 60.5 trillion, the gap comes from a high proportion of HBM. This cycle saw general DRAM and NAND prices rise broadly, but SK Hynix bet its capacity on HBM, thus missing out on the ordinary storage price hike benefits In other words, it fell behind in a quarter where both AI and traditional storage were booming because it focused too much on AI Management mentioned three things: no sign of AI investment slowdown, HBM4 has entered mass production and shipment, and long-term supply agreements usually lock in for 5 years. After-hours stock price reversed from decline to rise; today in early Korean trading, SK Hynix rose 4%, Samsung up 6%. This indicates last night's drop was an emotional reaction, not a fundamental revaluation. The market's punishment for missing expectations doesn't hold against the 5-year locked agreements On the same day, Seagate Technology rose against the trend after earnings; management said near-term HDD capacity is locked until 2028, with customer plans extending to 2029. Seagate's products and HBM are on completely different tracks—one is high-speed memory for AI training, the other is cold storage for data centers. But both companies signal the same thing: demand visibility has exceeded three years This shows the AI infrastructure build cycle is longer than many expect; it's not a one-quarter event but a structural cycle So the question arises, why are stock prices still volatile? The Philadelphia Semiconductor Index closed down 6% last night, SanDisk down 16%, Nasdaq 100 has fallen 10% from its peak entering a technical correction. Storage stock ADRs today: XSKHY -4%, XSNDK -4.66%. Good earnings, sold-out capacity, but stock prices are falling. This divergence means the market is answering a deeper question: where is the end of the boom cycle? Capacity locked until 2027, 2028, 2029 sounds certain, but every locked agreement carries an implicit assumption that buyers' AI capital expenditure plans remain unchanged After last week's news of Nvidia's guaranteed financing, the market for the first time seriously asked how much of these data center purchases are real demand and how much is supported by credit leverage? Without an answer to this, valuation premiums will remain under pressure My judgment: SK Hynix's rebound today is correct; last night's drop was an overreaction. The two data points—HBM4 mass production + 5-year locked agreements—are enough to support fundamentals. But the entire storage sector won't have an independent rally in the short term; direction will follow tonight's Microsoft and Meta capital expenditure guidance and tomorrow's FOMC The real risk is not SK Hynix itself but whether buyers' capital expenditure commitments can be fulfilled. This is the core variable determining valuation over the next 12 months for this supply chain BTC currently at 64449, up 1.53%. Market sentiment is slightly better than yesterday but still waiting for tonight's answers $SKHY $SNDK $QQQ DYOR Not investment advice