Emerging-market growth remains above trend, and inflation has risen less than expected. Goldman Sachs believes policy interventions and other growth drivers have cushioned the oil price shock, but net-importing economies still face pressure on growth and external balances if oil prices rise further.
Third-quarter revenue rose 19% year on year, but operating profit fell 53%. Bank of America downgraded the stock from Buy to Neutral and cut its price target from 1.25 million won to 420 thousand won: won appreciation is eroding profits from the Apple business, while a meaningful contribution from AI substrate capacity expansion is not expected until the end of 2028.
In the first quarter of fiscal 2027, New Oriental’s revenue growth was broadly in line with Goldman Sachs’ expectations, but margins at both its core education business and East Buy were below expectations. Goldman raised its revenue forecasts, lowered its margin assumptions and maintained different ratings on the two companies.
After results from Texas Instruments and Lam Research, earnings estimates rose while price-to-earnings ratios fell. Evercore sees further room for AI demand to grow, but rising inventories, peaking growth rates and declining customer cash flow are moving semiconductors into the later stages of the cycle.
Implant cases rose 15% year on year in the third quarter of 2026, but the average price fell 10%, limiting revenue growth to 3.6%. Management lowered its full-year case guidance, and Goldman Sachs subsequently cut its earnings forecasts and target price.
Elite Material and Taiwan Union Technology reported third-quarter core operating profits 6% and 16% above Goldman Sachs’ expectations, respectively. Goldman expects product upgrades and price increases to lift both companies’ fourth-quarter gross margins to about 41%, though their capacity rollout schedules and customer project transitions differ.
The platform links computing demand, green electricity supply and electricity prices, guiding companies to adjust when they run flexible workloads. Nationwide, 6 benchmark projects are operating, while another 8 mega-projects are under construction or being planned.
Guotai Haitong Securities expects Ampire’s net profit attributable to shareholders to fall 74.1% year on year in 2026, before recovering over the following two years as new pressure sensors scale up and the force sensor business expands. The company has delivered several types of force sensors in volume, while the size of the robot market still depends on complete robot shipments.
In the first half of 2026, revenue in China’s machine-tool industry rose 7.6% year on year, while profits grew 110.8%. Orient Securities believes capacity construction for precision components driven by AI computing power and humanoid robots is creating new sources of growth in machine-tool demand.
A quarter-on-quarter improvement in gross margin drove China Rare Earth’s third-quarter net profit growth, but quarterly free cash flow turned negative. Citi maintains its Buy rating, with its valuation view dependent on the rare-earth cycle and policy support.
Datacom optical modules account for a rapidly rising share of revenue. Citi expects the ramp-up of 800G and 1.6T products to raise both shipments and average selling prices, but expansion spending, customer concentration and potential restrictions on component sourcing could affect the realization of that growth.
Export sales rose 45.9% year on year, supporting Citi’s view that most full-year growth will come from overseas. Operating cash flow also improved, but foreign exchange losses and share-based incentive expenses weighed on profit.
The company raised its full-year guidance excluding the impact of the UK sale and plans to increase rents in 2027; Citi believes lost earnings from the RV asset sale will be offset by better performance and buybacks, with market expectations for next year broadly stable.
Higher memory prices and a greater share of high-value products drove a 38% quarter-on-quarter increase in SK hynix’s third-quarter operating profit. Citi raised its earnings forecasts for the fourth quarter and the following two years, while the company announced an annual shareholder return plan of approximately 100 trillion won.
In the third quarter of 2026, Corning’s optical communications revenue rose 44% year over year, helping overall revenue and earnings exceed market expectations; solar expansion fell behind schedule, and demand in the glass business was also soft. Citi maintained its Buy rating and lowered its price target from $220 to $200.
Citi estimates that CECONY’s return on equity in its next regulatory reset could rise from 9.4% to about 9.7%, adding approximately 3% to earnings per share growth. The reset is still about two years away, however, and the final outcome depends on regulatory negotiations and the formula’s parameters.
Citi expects Coherent’s September-quarter results to be broadly in line with guidance, while the ramp in 1.6T optical modules will drive December-quarter revenue and earnings per share above market expectations. Capacity expansion, yields and competition will determine the extent of margin improvement.
The phase III T-pam trial met its primary endpoint, but the progression-free survival benefit was limited and the incidence of interstitial lung disease was relatively high. Citi believes previously lowered expectations have softened the impact of the results on BioNTech, while also watching the endometrial cancer opportunity and other oncology programs.
Tesla, Figure AI and others are stepping up real-world data collection and model training; Zhenghai Magnetic's related orders for a globally renowned humanoid robot customer have entered an orderly mass-production phase.
The ChiNext Index rose more than 3%, while turnover on the two mainland exchanges increased by 167.5 billion yuan from the previous trading day. The robotics theme drove a broader spread of first-time limit-up stocks, but follow-through in high-priced stocks was weak. The September rebound ended after volume contracted, making sustained turnover the key question this time.
