Amazon (AMZN) Earnings Dates, Reports & Conference Call

Last night, the three major US stock indexes closed lower again, with losses in gold and silver widening
$Nasdaq Composite Index (.IXIC.US)$Closing down 1.59%, $S&P 500 Index (.SPX.US)$Closing down 1.23%, $Dow Jones Industrial Average (.DJI.US)$Closing down 1.20%
$XAU/USD (XAUUSD.CFD)$Losses widened in the late hours last night, and early this morning it briefly broke below $4,700
$Silver Futures (MAY6) (SImain.US)$Early this morning it once fell 16%, wiping out all gains for the year
1. Excessive capital expenditure is the biggest concern, triggering valuation risks in the market
Most of the earnings reports from tech companies this time have exceeded market expectations, proving that AI is not a bubble and has indeed brought tangible profits to businesses
But the situation seems to be shifting from one extreme to another:Tech giants have launched an AI 'arms race' in order to maintain their leading positions in the AI era.
Capital expenditures are becoming increasingly aggressive.
At first, $Taiwan Semiconductor (TSM.US)$ when Microsoft announced its expanded capital expenditure, it was seen as a strong rebuttal to the AI bubble theory, indicating robust downstream demand.
However, when the Mag 7 began releasing their earnings reports, things started to get tricky.
$Microsoft (MSFT.US)$In the second fiscal quarter, capital expenditure reached $37.5 billion, a year-on-year increase of 66%.quite...

The recent sharp drop in the US market $E-mini NASDAQ 100 Futures (MAR6) (NQmain.US)$ , aside from the technical breakdown, the market has been looking for 'reasons.' Although I’m against finding reasons after the fact,this time, it’s absolutely 'necessary' to find the reason because we need to understand what caused it, whether it will persist for a long time, and if it might trigger systemic risks, etc.
Currently, I believe there are several reasons that have significantly impacted the market decline, including:
1) Short-term liquidity risk in BTC
2) Semiconductor CAPEX guidance exceeding expectations, triggering market concerns over ROI returns
3) The impact of Anthropic's plugin tool on SAAS
First of all, yesterday $Bitcoin (BTC.CC)$ Dropped from 73,000 to this morning's 60,000
The sharp drop in BTC inevitably triggered margin calls and forced liquidations. This time, the reason is said to be Blackstone's IBIT ETF, which triggered liquidations due to its decline. Unlike retail investors, as an index-based institutional ETF, IBIT must meet two main prerequisites: 1) large volume (single-day trading reached 10 billion) and 2) use of derivatives for hedging. This time, the decline triggered its MARGIN CALL. As it needed funds to cover the position, it sold its LONG PUT hedging options to fill the gap. When the market continued to fall, its BITCOIN lost protection, triggering another round of liquidation, while simultaneously impacting the long positions worth 1.7-2.5 billion across the network...