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

The Token Spending Price Index has dropped to 1.1635, continuing its downward trajectory since hitting a peak of 2.0651 on May 28 at the end of May, with a cumulative decline of 43.7% over two months. The index has now fallen below the 1.2446 level recorded at the end of 2025, marking an official year-to-date low, signaling that AI computing power pricing has returned to the starting point of this expansion cycle. Note: Token sales are a critical revenue source for the AI industry today, and their price serves as one of the key indicators measuring the current supply-demand balance of computing power. If Token prices stay elevated, cloud service providers will have the incentive to acquire more GPUs, DRAM memory, and expand data centers; conversely, AI enterprises may face "consumption downgrades", a potential leading indicator of the end of this hardware boom cycle. The Token price data is sourced from top global AI models including OpenAI, Anthropic, and DeepSeek.

Michael Saylor's @Strategy sold another 1,690 $BTC($108.6M) last week! Over the past 6 weeks, #Strategy has sold a total of 6,916 $BTC ($429.35M).

Strategy disclosed that it recently added $650 million to its U.S. dollar reserves and repurchased $109 million worth of STRC preferred shares. According to the company’s data, as of August 9, 2026, Strategy holds 840,447 Bitcoin in reserves, with its U.S. dollar reserves totaling $4.65 billion. This operation extended the duration of Strategy’s U.S. dollar reserves by 143 days, bringing it to approximately 2.7 years, while narrowing STRC’s credit spread by 10 basis points. As of press time, STRC rose 0.49% in pre-market trading on U.S. stocks.

According to Japan’s Kyodo News, multiple Japanese government officials revealed on the 10th that the Japanese and U.S. governments conducted an unusual joint yen-buying intervention on July 31 (U.S. Eastern Time), marking the first such action in 28 years. The decisive factor was Bank of Japan (BOJ) Governor Kazuo Ueda’s strong hint at a July 31 press conference that he would raise policy rates as early as September and beyond. Ueda explicitly stated he would “accelerate the pace of interest rate hikes” if necessary. The U.S. side gave a positive assessment, with both sides aligned on preventing excessive yen depreciation. The U.S. is concerned that Japan’s delayed rate hikes have caused excessive yen depreciation, which has in turn spurred further price increases and rising long-term interest rates, potentially spilling over to global financial markets. A senior Japanese government official disclosed: “Governor Ueda’s remarks were highly persuasive to the U.S. side. At the same time, this means the BOJ has no choice but to raise interest rates at its next policy meeting (scheduled for September 17-18).”

Serenity notes that with the recent reactivation of optical communication-related stocks including Sivers, OE Solutions, LITE, Coherent, and AAOI, the market has entered another period of high volatility. Historical research indicates that investors who deliver stronger long-term performance are often not frequent traders. Citing studies from Fidelity and the University of California, Berkeley, Serenity points out that top investors typically possess two key traits: those who hold assets long-term, even to the point of "forgetting their accounts exist", and those who refrain from overtrading. The studies show that infrequent traders earn an average return of approximately 18.5%, outperforming frequent traders who average 11.4%. Serenity adds that amid recent volatility in storage, optical communication, and AI-themed assets, many investors have exited positions due to short-term dips, only to miss subsequent sharp rebounds. It argues that investing requires sufficient long-term conviction, as a solid investment thesis helps investors avoid frequent trading during downturns and manage positions more rationally while deploying capital in batches during market corrections. Serenity reminds that while this is not investment advice, historical experience suggests that reducing ineffective trades and staying patient could be a critical factor for retail investors to improve their long-term returns.

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.