Week 8 tracking shows that delivery waits for the iPhone 18 Pro lineup generally shortened, while Duo delivery dates remained at January 2027. JPMorgan believes Pro lineup demand volumes may decline year over year, while price increases and demand for the higher-priced Duo will support revenue growth.
Vertiv’s third-quarter revenue and profit exceeded market expectations, and organic orders more than doubled year over year. Evercore ISI believes capacity coming online and improved backlog execution could drive 2027 growth above the previous framework; however, quarterly revenue also benefited from the recognition of projects delayed from the prior quarter.
In the third quarter of 2026, Fastprint’s net profit far exceeded Nomura Orient International’s expectations. The firm raised its earnings forecasts for the next three years while cutting its target price from 39 yuan to 37 yuan.
AI investment is driving South Korean exports and economic growth in Taiwan, while Citi also sees mounting financing pressures in non-AI emerging markets. China’s PMIs broadly weakened in October, while the Bank of Japan held interest rates steady.
Gates’ third-quarter adjusted earnings per share exceeded JPMorgan’s expectations as North American industrial demand recovered and data center revenue grew; however, investment weighed on hydraulics margins, and cost pressure remains in the fourth quarter.
Roblox’s peak concurrent users fell 7% week over week, with its most popular games continuing to decline. JPMorgan believes fourth-quarter bookings guidance may be conservative, but growth investments and margin pressure continue to constrain its rating.
Since October, consensus forecasts for the five companies’ combined 2028 capital spending have risen 18%; meanwhile, software companies are beginning to see AI efficiency gains, but ServiceNow’s overall growth has yet to accelerate alongside its AI business.
Price increases and cost reductions helped the company withstand higher raw material prices and raise its full-year earnings guidance; however, North American sales remain in decline, while currency and cost pressures also constrain the 2027 earnings outlook.
Product price increases and mass production of new products lifted the gross margin in the first three quarters, but third-quarter revenue and profit fell quarter on quarter. Nomura Orient International cut its earnings forecasts and price target while remaining optimistic about growth from new products.
Microsoft Azure grew 48% at constant currency in the first quarter of fiscal 2027, exceeding company guidance and buy-side expectations; margins and free cash flow also beat expectations. Evercore ISI believes next quarter’s Azure guidance and the full-year cash flow outlook will inform subsequent assessments.
Wells Fargo sees opportunities in hyperscalers and infrastructure software following a reset in market sentiment, but sentiment toward healthcare has become overheated; the US midterm elections and corporate financing needs will influence the market’s next moves.
Revenue growth is accelerating at the three major cloud providers and some business margins are rising, but spending on data-center construction comes first, putting pressure on tech giants’ free cash flow. Nomura believes financing can ease short-term cash pressure, while compute oversupply remains a long-term concern.
Nomura estimates that, with the countercyclical factor included, the forecast USD/CNY central parity rate is 6.6819, 327 points below the previous fixing; the two model results differ by 317 points.
On 2 November, Market Logic focuses on AI content and games: combined active users of AI motion-comic dramas overseas have surpassed 150 million, Tokens are being trialled in livestream retail, and Shadow of the Blade Zero sold over 4 million copies across all platforms within 72 hours of release.
On 2 November, the index reversed last Friday’s losses on higher volume. AI applications led gains, while technology hardware came under pressure in the afternoon. Cailian Press says the index remains in a downtrend and that technology’s performance is key to a medium-term rebound. It also examines the business dynamics of short-drama platforms, mineral water and Token services.
Apple’s revenue rose 12% year over year in the fourth quarter of fiscal 2026, exceeding company guidance and market consensus; however, gross margin guidance for the December quarter fell to 45%–46%, below Bernstein and market expectations.
Lumentum’s quarterly margin and next-quarter guidance exceeded market expectations, but the stock-for-stock deal ties its valuation to Marvell’s share price and the progress of the transaction. Bernstein is positive on the fundamentals but believes the market-implied probability of completion is too high.
Tutor Intelligence CEO Josh Gruenstein discusses putting robots to work in an a16z interview: robotics is the ultimate systems problem; discarding any layer means losing 90% of the room for trade-offs, and most robotics companies will eventually move from horizontal to vertical integration.
Prof G host Scott Galloway answers a listener’s question on his podcast: concentration builds wealth, diversification preserves it. He says his biggest wealth mistake was failing to diversify; today, no single stock accounts for more than 3% of his assets.
