HK Stocks Extend Declines. HSTECH Drops 2.8%; 2x Leveraged Samsung ETF Plunges 14%; Alibaba Falls 9%; MiniMax, Z.AI Fall over 6%; Xiaomi, Baidu, Kuaishou, SMIC Down Around 3%

TradingKey - Lam Research stock forecast: LRCX slides premarket despite a record quarter, as supply limits cap the December guide and $242.80 support comes under test.

Memory stocks fell around 4% across the board as Micron lost its $900 support level, while technical indicators raised alarms for a 16% retest of the low.

Tesla (TSLA) reported its third-quarter 2026 financial results, with revenue coming in slightly above market expectations and automotive gross margin improving, though higher operating expenses such as R&D weighed on profits. Meanwhile, the company disclosed that the Cybercab has joined its Austin Robotaxi fleet and Optimus has entered production.

Meta Platforms (META) saw its stock jump over 4% after releasing its third-quarter 2026 earnings report on October 21 Eastern Time. As of press time, the gain had narrowed to 2.86%, with the stock trading at $717.47. During the period, Meta's advertising business achieved gains in both volume and pricing, driving revenue above market expectations, though litigation costs weighed on operating profit. The company also narrowed its full-year capital expenditure guidance range. In the third quarter, Meta reported revenue of $64.601 billion, up 26% year-over-year and beating market expectations of $63.2 billion; on a constant currency basis, revenue also grew 26%.

On Wednesday, October 21, Eastern Time, tech stocks rallied, driving the three major U.S. stock indices higher. SpaceX's third-quarter financial results and news of its merger discussions with Tesla became the market focus, while AI-related stocks rebounded in tandem. At the close, the Dow Jones Industrial Average rose 0.69% to 52,856.09, the Nasdaq Composite Index gained 1.05% to 26,702.86, and the S&P 500 Index advanced 0.58% to 7,757.17.