Bitcoin briefly fell below $85,000.

According to BIT (Bit.com) market data, Apple’s pre-market U.S. stock dropped 1.44%. On the news front, Apple’s first foldable smartphone, the iPhone Duo, has seen screen damage near its hinge since launching in major markets on October 23. User-uploaded photos show some devices have white ray-like cracks starting at the hinge’s center and extending to the lower right of the screen. Industry insiders note the defect is concentrated at the same hinge position, likely tied to hinge design, meaning Apple may have to redesign the relevant structure. Reports add that Apple faced hinge supply challenges during R&D: its initial first supplier, U.S.-based Amphenol, was replaced by Taiwan’s Xinri Xing (Sunny Precision) due to lower-than-expected production yield, but the latter also encountered manufacturing difficulties and only supplied "golden samples" that met standards. Apple previously stated the iPhone Duo’s hinge comprises over 100 components and uses a 3D-printed hinge module. With the product now in mass production, Apple may resolve the defects while minimizing design changes, possibly by reducing hinge components. Reports highlight the hinge issues could impact product delivery and sales performance. Per Apple’s supply expectations shared with suppliers, as of the end of this year, component supply corresponding to the iPhone Duo’s full production capacity is around 6 million units. Separately, component supplier Fine M-Tec has stated that recent quality issues with the related products are unrelated to the components it supplied for assembly.

QCP Capital noted in its daily market report that BTC fell below $80,000 over the weekend amid news of the Middle East situation and outflows from Bitcoin spot ETFs, triggering liquidations of leveraged long positions. Currently, BTC has retreated to the bottom of its recent trading range, with market participants awaiting the U.S. Federal Reserve’s policy-setting meeting scheduled for October 27-28. QCP added that earnings reports from Microsoft, Google parent Alphabet (due Wednesday U.S. time) and Amazon (due Thursday) will act as key market variables. If the results validate the justification of massive AI-related capital expenditures, tech stocks could see valuation recovery; conversely, selling pressure on AI trades may intensify further. Additionally, oil prices, down roughly 2%, are another major factor weighing on markets. On the macro front, the Fed is widely expected to hold interest rates steady, though market pricing puts the probability of a December rate hike at nearly 84%, with Chair Warsh’s press conference drawing close attention. The U.S. 10-year Treasury yield stands at around 4.96%, down from its recent one-year high near 5.3%. QCP’s key price levels are: BTC support at $78,000, resistance at $86,000; ETH support at $2,150, resistance at $2,500. Separately, ETH spot ETFs have recorded outflows for four consecutive weeks.

TSMC plans to shrink the area of high-density 6T SRAM (Static Random-Access Memory) bit cells to below 0.017 square micrometers in its A14 process, which is targeted for mass production in 2028. The move breaks a long-standing stagnation of around 0.021 square micrometers for SRAM cell size since the N5 process launched in 2020. According to reports, TSMC is expected to unveil the relevant research results by the end of the year. Based on currently disclosed data, the A14 process’s SRAM cell area is expected to outpace Intel’s 18A process; Intel previously announced its high-density SRAM cell size is 0.021 square micrometers. As Samsung has not yet disclosed the specific SRAM cell dimensions of its latest process, a direct comparison is currently not possible. SRAM is a critical storage component for on-chip caches in CPUs, GPUs, and AI accelerator chips. Shrinking the cell area allows more cache to be packed into the same chip area, helping alleviate data access bottlenecks in AI chips and improve performance and energy efficiency. TSMC noted that the A14 process targets a 10-15% performance gain, 25-30% power reduction, and roughly 20% higher chip density compared to its N2 process. The A14 process is currently progressing toward its 2028 mass production goal, but its final yield, cost, and customer adoption remain unconfirmed.

SK Hynix plans to add an additional 50 trillion to 60 trillion won (approximately $350 billion to $420 billion) in shareholder returns. Combined with the 40 trillion won in share repurchases and cancellations already completed, the company’s total shareholder returns this year are expected to reach 90 trillion to 100 trillion won, a new all-time high for the firm. SK Hynix will finalize the plan via a board of directors resolution on October 28, and announce it alongside its third-quarter financial results. The company is considering returning value to shareholders through measures including special dividends and additional share repurchases. Brokerage firms estimate SK Hynix’s free cash flow this year will be around 200 trillion won. The company’s existing policy allocates more than 50% of its free cash flow to share repurchases, cancellations, and dividends. Driven by sustained growth in AI storage demand, SK Hynix’s profitability is steadily improving. If the plan is implemented, its annual shareholder return scale will be roughly 7 times that of last year, potentially putting it in competition with Samsung Electronics for the title of South Korea’s largest annual shareholder return among domestic companies. Samsung Electronics previously announced plans to deliver 90 trillion to 110 trillion won in shareholder returns this year.

According to Bloomberg, the plunge in shares of AI cloud computing firms is spilling over into tech stocks and the broader U.S. equity market. Since U.S. major indexes hit record highs on Oct. 6, CoreWeave’s stock has fallen 41%, while Iren and Nebius have dropped 40% and 36% respectively. Market concerns center on AI infrastructure firms’ heavy reliance on debt financing, with many expected to borrow more after reporting earnings. As U.S. Treasury yields rise and inflation persists, financing costs for these companies have climbed, while credit risk metrics for AI investments at some large tech firms have also hit new highs. Ohsung Kwon, chief equity strategist at Wells Fargo, warns that if cloud computing firms cut capital expenditure due to financing strains, the semiconductor industry will face a major hit. The Philadelphia Semiconductor Index has fallen 15% so far in October. Brian Reynolds, chief market strategist at Reynolds Strategy, says the sell-off has evolved from individual corporate events to macro risks, and forecasts the S&P 500 could retrace to its early-June lows, marking an additional ~4.7% drop from last Friday’s close. Meanwhile, concerns over an AI bubble and high-risk debt defaults continue to mount.

Mizuho Securities maintains an "Underperform" rating on Circle (CRCL), setting a target price of $43, roughly 48.1% lower than its current share price of $82.87. The brokerage warns that AI assistants may guide users toward higher-yield, insured alternative products, weakening USDC’s competitiveness. It projects this could exert $4 billion to $9 billion in downward pressure on USDC’s market capitalization, and cause Circle’s reserve revenue to decline by 10% to 20%. The firm also cuts Circle’s 2027 EBITDA forecast by around 5%.