China smartphone sell-through rose 15% month on month in September, but remained down 1.5% year on year. High memory costs are pushing up prices and squeezing low-end demand; Bernstein forecasts a 13.5% contraction in the full-year market.
Third-quarter PC shipments recorded their worst sequential performance for the period in more than 20 years. Bernstein cut its PC forecasts for both companies and raised its server forecasts, but its fourth-quarter estimates remain below market consensus.
Diamond’s high thermal conductivity and thermal matching advantages have drawn attention to its use in cooling high-power chips. Servers incorporating the technology have been delivered since 2026, while related products from Chinese manufacturers are at different stages, including validation, sample submission and project commissioning.
Western Securities believes that a new generation of agents can carry out tasks continuously with authorization, opening up potential new opportunities for AI applications. Oracle has launched an agent platform for implementing and upgrading cloud applications, while Chinese companies are also developing products for office work, model access and R&D management.
Changkong Gear brings the ability to develop and mass-produce reducers, while the liquid-cooling production line has entered the equipment procurement stage. Shenwan Hongyuan expects FIYTA’s profit to rebound sharply in 2026, but robot demand and the construction of new production capacity remain key conditions.
At midday on 27 October, the indices had opened higher and moved lower, but short-term sentiment had improved. Robotics was slightly stronger than expected, interest in intelligent driving was spreading to the physical AI branch, and consumer stocks strengthened, led by Shanghai Jiubai.
In the first three quarters of 2026, Xinji Energy’s electricity generation rose 88.75% year on year, as capacity added at three new power plants contributed a full quarter of generation in the third quarter. Kaiyuan Securities expects a recovery in on-grid thermal power prices and higher dividends next year, but forecasts a lower overall gross margin for the full year than in the previous year.
A sharp rise in revenue from lithium battery cathode materials drove earnings growth. Existing lithium iron phosphate capacity is operating at full production and selling all output, while new capacity is ramping up; the robotics business is expanding its customer base and applications through trial production of electric joints and cooperation with AgiBot.
Among previously treated patients with advanced or recurrent endometrial cancer, median overall survival was 19.0 months with sac-TMT and 12.1 months in the control group; stomatitis and a higher rate of dose interruptions remain important issues in clinical use.
Bernstein expects the quarterly terms of the US Department of Veterans Affairs contract could create a reporting headwind of 80 to 100 basis points for cRPO growth, while also seeing an opportunity for broader business expansion.
Bernstein expects Oracle may raise its financial targets, but investors are more focused on the profitability, financing and construction progress of its AI data centers. The firm estimates that the company may need an additional 10 billion to 20 billion dollars in financing in 2027 or the following year.
Bernstein raised its price target from $556 to $590 and maintained its Market Perform rating. Better-than-expected third-quarter earnings and a growing backlog prompted it to raise its revenue outlook, but expanding B-21 production requires upfront capital, while weapons-program funding and supply-chain capacity remain constraints.
In 2026, average monthly sales of Japanese semiconductor production equipment rose 48% year on year in the period from month 7 through September, accelerating from the previous quarter. Demand for equipment is broad-based, yet shares in the sector continue to fall. Goldman Sachs believes HOYA and Disco are trading near historical valuation lows.
Improved gross margin and operating expense ratio drove third-quarter operating profit well above Goldman Sachs’ expectations, but lower fourth-quarter gross margin guidance, the ramp-up of new capacity and depreciation pressure also prompted the bank to cut its revenue and earnings forecasts.
Goldman Sachs tracking shows that streaming continued to gain share of TV viewing time in August, although total viewing declined month over month. In the fourth quarter, traditional TV prime-time commercial ratings rose year over year, with cable companies posting divergent results.
Ninebot’s third-quarter revenue rose 14% year on year, while net profit fell 37% and came in 36% below Goldman Sachs’ forecast. The peak season for electric two-wheelers supported revenue, but product mix, costs and R&D spending weighed on profit.
Growth in new-energy vehicle gears and intelligent transmission businesses lifted revenue, but net profit grew only 4%. Goldman Sachs expects overseas projects and coaxial products to support growth in the automotive business, while AI robot gear revenue could also expand significantly in 2027.
Third-quarter revenue rose 14% year on year, while net profit grew 4% and came in slightly below market consensus. Morgan Stanley is positive on the ramp-up of overseas operations and coaxial gearboxes, and sees humanoid robots as an additional growth opportunity.
OPT's third-quarter revenue rose 46% year on year and operating profit exceeded Goldman Sachs' forecast by 77%; management is betting on a rebound in consumer electronics capital expenditure in 2027 while expanding its semiconductor and AI businesses.
The launch of Sword x Staff in Europe and the US and cost controls softened the decline in G-bits’ third-quarter results. Goldman Sachs expects a thinner new-game pipeline to put pressure on 2027 revenue as major games enter the declining phase of their life cycles.
