Reborn in 2010, the AI ​​in my mind is too powerful.

Three days after the Disney board meeting, at 9:00 a.m. Eastern Time, Apple and Disney simultaneously posted a joint announcement on their official websites.

Apple Inc. and The Walt Disney Company announced a definitive merger agreement.

CNBC abruptly cut off its business news section, Bloomberg Terminal issued an emergency pop-up, and Dow Jones Newswires' push notifications covered every Bloomberg screen worldwide within two minutes.

The announcement consisted of only five paragraphs: the share swap ratio, the total consideration, the expected settlement date, leadership arrangements, and anti-monopoly expectations. Editors from major financial websites received advance copies of the censored document and simultaneously clicked the publish button at 9:01 AM.

Disney shares jumped 27% at the open. Pre-market trading had already pushed the price to the pre-set limit for the hedging clause, and all investment firms' trading desks received inquiries from all the world's largest funds.

But everyone's attention is more focused on Apple.

Typically, on the day a multi-billion dollar acquisition is announced, the buyer's stock price will fall.

The reason is simple: this time, 780 billion new shares were issued, which will dilute the value of all existing shareholders by about 10%.

In addition, the market needs time to digest the 340 billion yuan cash outlay. Even with a bright future, the market will likely experience some fluctuations in the short term.

But Apple's stock didn't fall at the open; the trading volume in the first five minutes broke the NYSE record, and the stock price slowly climbed after opening flat. By 10:30 a.m., it had risen by nearly 3%, and the world witnessed Apple's strength.

CNBC interviewed three groups of analysts to explain why Apple's stock price didn't fall.

The first group talks about synergy; the combination of Disney IP and Apple hardware is too complete, and Wall Street's models can no longer handle this kind of combination.

The second group said it was a cash flow safety cushion, with Apple having over $1200 billion in cash on its books, so taking out $340 billion was like an ordinary person buying coffee.

The third group said that the first two reasons were correct, but even more outrageous things had happened with Apple, and these were not enough to explain why the price had risen.

In fact, these analysts are well aware of where the problem lies, but academics usually don't like to attribute all economic problems to a few individuals.

However, one off-site guest didn't care about this; he had almost become a major Apple shareholder.

This man was Icahn, wearing a wrinkled shirt, who started to boast to Chen Yiran in his signature hoarse voice in his office: "You're analyzing Apple, you're wrong. People who buy Apple products in the market don't look at synergy models or cash flow."

Because many of the people buying Apple stock now are ordinary netizens, and even a lot of them are young people! They admire Chen Yiran and think he's a genius among geniuses. His Aurora Mobile isn't publicly listed yet, so if you want to buy Chen Yiran's stock, you can only buy Apple stock—it's that simple.

Several economists have started to disagree, denouncing it as unreasonable and irrational.

Icahn scoffed at these dogmatic economists: "Listen, I've spent my whole life investing. I've used the most complex leveraged buyout models and fought the most complex shareholder proxy battles. I can say with certainty that the most important thing in the market is sentiment!"

If a 20-year-old college student thought Chen Yiran wouldn't do a losing business and invested his pocket money in Apple products, I would definitely not laugh at him.

Let me ask you a simple question: when did you so-called economists ever have my wealth? Besides, I'm wrong, and this is irrational behavior.

Moreover, Chen went from zero to the world's third richest man in just two years. If you think you know better than him how to judge whether a deal is worthwhile, you should be the third richest man.

Apple is worth $750 billion, and it should be worth even more after acquiring Disney. The increase in annual revenue wasn't due to synergies, but rather because of Chen Yiran.

I believe that Cook simply cannot push through an acquisition of this magnitude. Sorry, Cook, but this is my honest opinion.

This transaction proves that Chen Yiran's connection with Apple may be deeper than we thought. Before Aurora Group went public, Apple was the best alternative we could buy.

After the live stream ended, Bloomberg's social media sentiment analysis tool showed that the frequency of buy and bullish terms in posts discussing the deal across the U.S. quadrupled in the past hour.

Despite numerous economists' vehement criticism that this was an unhealthy market, their words had no effect on the unwavering belief in the market, which no model could explain. By the close of trading that day, Apple's stock still surged by 7%, despite announcing a multi-billion dollar acquisition.

"Faith-based investment" refers to a group of highly skilled investors who hold shares solely based on their trust in a particular entrepreneur.

Previously, the most famous "faith-based" investment was Tesla.

The first Model S deliveries began in June this year, but the total number of deliveries for the year is expected to be less than three thousand. Musk's other entrepreneurial projects, such as his solar energy company, are also still burning through cash.

Only SpaceX, which received investment from Aurora Mobile, looks somewhat better.

Based on a comprehensive analysis of various data points, many economists are not optimistic about Tesla.

Since the beginning of the year, various short sellers have been heavily shorting Tesla, believing that Tesla is definitely not worth $30.

Now in October, Tesla's short selling volume has reached 35% of its outstanding shares, making it the stock with the highest short selling ratio in the US stock market.

However, Tesla's price remains firm at $33. The 15% short-selling interest rate is causing significant losses for major short sellers, yet they are stubbornly holding on, hoping the public will see the truth about the inflated stock price.

But there's nothing we can do about it; that's just how it is based on faith.

Tesla has had a die-hard community since 2008. They love electric cars and later developed a cult of vision for Musk. They not only buy cars but also hold Tesla stock steadfastly.

After Aurora Group invested in SpaceX, the two largest faith-based groups on the Internet began to merge.

A stock investment community called WallStreetBets (WSB) appeared on Reddit and became its headquarters.

Countless young people chant YOLO, which stands for You Only Live Once.

Buying Apple and Tesla has become a regular investment for them; they buy a batch and hold it as long as they have enough money.

They claim they bought diamond hands, holding on tightly and refusing to sell, demonstrating unwavering faith.

If you can't buy SpaceX, buy Tesla. If you can't buy Aurora Mobile, buy Apple.

After the market closed that day, the forum was flooded with chicken leg and diamond icons, which meant that someone had bought stocks and made a profit that day.

Of course, not everyone welcomes this acquisition.

After waiting a day, Google launched a media blitz attack on Apple's attempt to dominate the world.

Their PR team simultaneously sent an email with the same title to six media outlets: Apple is monopolizing American culture.