Subsea revenue and margins beat consensus, prompting the company to raise its 2026 revenue and free cash flow guidance; however, both new orders and backlog for the quarter fell short of expectations.
In the first quarter of fiscal 2027, SanDisk’s revenue and earnings per share both exceeded market consensus, with data centers the main source of growth; adjusted free cash flow, however, fell short of expectations.
Inventory gains from rising oil prices and improved refining margins drove Sinopec’s third-quarter net profit up 64% year on year; however, both refinery throughput and refined fuel sales fell, and Bernstein maintained its Underperform rating.
In the third quarter of 2026, Samsung SDI’s operating profit and margin excluding US manufacturing tax credits both exceeded Bernstein’s expectations. US energy storage orders and production-line conversions supported growth, but weak electric vehicle demand, declining subsidies and cash flow constraints remain.
Global interest rate hikes and rising bond yields are weighing on the AI stock rally. BofA believes tech debt has become more attractive after its relative return fell to a 30-year low, while a new round of risk-asset allocation must wait for rate hikes to end and oil prices to fall.
Third-quarter server business drove better-than-expected earnings, but fourth-quarter PC shipments are expected to fall sharply quarter over quarter, and inventory adjustments could continue into the first half of 2027. BofA cut its price target from $145 to $100.
Teradyne’s third-quarter revenue and earnings beat expectations, but the ramp-up of computing projects at two large cloud customers is concentrated in the middle and latter part of 2027. JPMorgan expects demand for memory, industrial and product testing to support sequential revenue growth in every quarter of 2027.
Shop Pay is expanding into AI channels, while Sidekick is taking on more merchant operations and store-building tasks. JPMorgan believes the product updates can help attract merchants and transaction volume, but its model also forecasts slower revenue growth and a lower gross margin.
Data center demand drove quarterly revenue above expectations, while the consumer business declined as customers adjusted to higher prices. Next-quarter guidance exceeded the Wall Street consensus but was slightly below buy-side expectations heard by JPMorgan.
The company has launched enterprise AI services and a voice agent and is considering a rebrand. JPMorgan believes the new businesses will take time to significantly drive growth, while the core business’s ability to withstand AI disruption remains key to its valuation.
Intel’s third-quarter profit beat expectations, but a fourth-quarter decline in the PC business and the shutdown of its Israeli factory weighed on guidance; capacity expansion will add to cash flow pressure in 2027.
Equinix’s annualized gross new bookings exceeded 500 million dollars for the first time in the third quarter, and pricing on new deals rose 12% year over year. JPMorgan sees room for price increases over multiple years as contracts renew, while its model shows expansion spending will continue to depress free cash flow.
AWS growth rose to 39% in the third quarter but still fell short of buy-side expectations. Amazon is optimistic about growth over the next two years and is preparing to increase investment. JPMorgan expects rising capital spending to weigh significantly on free cash flow in 2027.
Shell hopes to use higher oil prices to strengthen its balance sheet; meanwhile, rising freight costs are squeezing realized refining margins, and the cash contribution from Pearl GTL’s restart is subject to timing constraints.
In the quarter ended September 2026, SanDisk’s data-center revenue rose 61% sequentially, driving results and next-quarter guidance above market expectations. Morgan Stanley believes tight NAND supply and buybacks will support earnings, but consumer revenue has already declined sequentially.
Morgan Stanley expects Palantir’s third-quarter revenue to exceed the midpoint of company guidance by 5%–6%, but slowing US commercial customer growth, expectations for the fourth quarter and a high valuation limit the room for optimism.
AWS grew 39% year over year in the third quarter, below Morgan Stanley’s expectations. Rising capital spending and backlog support the long-term growth outlook, while cash flow and the costs of the satellite business remain under pressure.
Amazon and Intel’s cloud and server businesses are still growing, but cash investment, capacity and PC inventory reductions have changed near-term earnings expectations; SNDK and TWLO also face tests of their growth mix and margins.
Xi’an Xice Testing’s third-quarter revenue rose 42.43% year on year and its loss narrowed. The company is entering commercial space through its testing and electrical assembly capabilities and has taken a stake in a joint venture to expand into satellite design, launch and in-orbit delivery.
Quyu Jianpi Tea has entered the public consultation stage for OTC conversion, and existing out-of-hospital channels could help expand its sales. SIF001, a drug in which the company holds an indirect stake, has entered Phase II clinical trials in the United States, but its long-term sales potential still depends on research and development progress.
