Jefferies downgraded Apple Inc. from Hold to Underperform, cutting its target price to $263.66.

According to market data from BIT (Bit.com), eBay (EBAY.O) shares fell 2.5% in pre-market trading, while GameStop (GME.N) rose 3.7%. On the news front, GameStop CEO Cohen is reportedly considering withdrawing its $56 billion acquisition offer for eBay.

Strategy sold 1,690 BTC last week at an average selling price of $64,262.

Strategy sold off an additional 1,690 BTC last week, bringing its total BTC sell-off over the past two weeks to 3,327 BTC. The firm also boosted its U.S. dollar reserves by $650 million to $4.65 billion last week.

After its H-share listing, Zhongchuang Xuchuang has quickly drawn attention from South Korean investors, becoming the Hong Kong-listed stock with the highest net buying amount by South Korean funds in the past month. Data from SEIBro, a subsidiary of the Korea Securities Depository (KSD), shows that between July 8 and August 7, South Korean investors settled purchases of Zhongchuang Xuchuang's H-shares worth 45.067 million U.S. dollars, with settlement sales of 1.6729 million U.S. dollars, resulting in a net purchase of 43.3942 million U.S. dollars, equivalent to about 340 million Hong Kong dollars, ranking first among Hong Kong-listed stocks in terms of net buying by South Korean investors during the same period. Zhongchuang Xuchuang's H-shares debuted on the Hong Kong Stock Exchange on July 30. In just 7 trading days, its net purchase scale was nearly four times that of the second-ranked stock on the same-period list, accounting for nearly half of the total net purchases of the top 10 Hong Kong-listed stocks by South Korean investors. The total net purchases of the top 10 Hong Kong-listed stocks by South Korean investors during the same period amounted to about 96.27 million U.S. dollars, with Tianrui Automotive Interior, ChinaAMC CSI 300 Index ETF, Minyin Capital, Luxshare Precision's H-shares, and others following behind. However, Zhongchuang Xuchuang's stock price corrected on August 10, with its H-shares falling 6.94% to 1,033 Hong Kong dollars per share, while its A-shares dropped 6.01% to 864.58 yuan per share. Market analysts believe that South Korean funds' rapid allocation to Zhongchuang Xuchuang may be related to the rapid growth of AI data centers, rising demand for optical modules, and the company's position in the global computing power infrastructure industrial chain.

Jefferies Group on Monday downgraded Apple (AAPL.O) from "Hold" to "Underperform", and cut its price target from $285.56 to $263.66, representing roughly 16% downside from last Friday’s closing price. As of press time, Apple’s pre-market shares were down 0.97%. Analyst Edison Lee noted in a client report that the originally planned 20th anniversary all-glass iPhone has been canceled due to poor yield. The model was initially expected to achieve a blended retail average price of $2,060. Apple’s broader plan was to extend the all-glass feature to future iPhone Pro and Pro Max models to further boost its average selling price and profit margins. Jefferies views this move as a "major setback" for Apple’s strategy of pushing higher-priced iPhones amid surging memory costs. In response, Jefferies cut its forecast for the compound annual growth rate of iPhone average selling prices from 9.0% to 6.8% for fiscal years 2026 through 2031, and lowered its fiscal 2028 earnings per share forecast by 2.1%.

According to market sources, GameStop (GME.N) CEO Ryan Cohen is reportedly considering withdrawing the proposed $56 billion acquisition of eBay. On May 3, GameStop formally proposed to acquire 100% of eBay’s equity at $125 per share, with a total equity value of approximately $55.5 billion, and disclosed it had built a roughly 5% economic interest in eBay through stocks and derivatives. The company stated at the time the transaction would be backed by around $9.4 billion in cash and liquid investments, plus up to $20 billion in acquisition financing from TD Securities. On June 26, GameStop noted management was still advancing the proposed acquisition, with more materials to follow. However, eBay’s board of directors formally rejected the non-binding proposal on May 12, calling the offer “neither credible nor attractive,” and specifically pointed to uncertainties in the financing plan, post-merger leverage and operational risks, as well as issues related to governance and management incentives. eBay also previously said it had not had any contact or negotiations with GameStop on the deal prior to receiving the proposal.