1. Starbucks faces significant challenges ahead of its Q4 earnings, with expectations of stock decline due to underperformance against rivals like Dutch Bros and Luckin Coffee; 2. Recent U.S. store closures highlight brand retrenchment, weak same-store sales, and stagnant domestic growth prospects; 3. Despite a ~20x forward EBITDA multiple, the stock lacks valuation support, reinforcing a sell rating recommendation.

➀ Nintendo plans to announce the successor to the Nintendo Switch during the fiscal year ending April 2025; ➁ The company emphasizes the importance of the Nintendo Account, which will play a significant role in the next-generation console; ➂ The Nintendo Account will maintain continuity with over 100 million users.