Tmall’s digital electronics and mobile phone sales and Douyin’s livestreaming activity were strong in the opening phase, but general e-commerce grew only 0.9% during this year’s 618 shopping festival. Citi expects overall growth during Singles’ Day (Double 11) to slow from last year, while platforms place greater emphasis on conversion, retention and merchant efficiency.
Third-quarter 2026 revenue rose 40% year on year, while net profit grew just 9%; Nomura lowered its earnings forecasts for the next three years and is watching for new submarine cable orders.
Nomura believes enterprise demand for AI cloud services and security products is driving business growth, but rising component prices and competition in the cybersecurity market may continue to pressure gross margin; the bank maintains a neutral rating.
Third-party computing capacity delivery delays led Microsoft to reduce its 2026 capital expenditure guidance from 175 billion dollars to 170 billion dollars; management expects spending to exceed 50 billion dollars next quarter and accelerate in the first half of 2027.
UMC expects its blended average wafer selling price for full-year 2027 to rise 10% year over year and aims to increase AI-related revenue to more than a quarter of total revenue by 2029. High capacity utilization supports pricing power, but new capacity, depreciation and raw material costs will affect margins.
Nomura is positive on CHPT’s progress in cloud service provider processor and AI testing projects, raising its target price from NT$3000 to NT$4000; however, deliveries of low-margin products and expense guidance prompted it to lower its earnings forecasts.
In the third quarter of 2026, SK hynix’s operating profit exceeded Nomura’s expectations, but net profit fell sharply quarter on quarter. Nomura is positive on future memory prices and shareholder returns, and expects share repurchases and cancellations to further boost earnings per share.
Third-quarter revenue slightly exceeded Nomura Orient International’s expectations, but gross margin recovered more slowly. The firm raised its revenue forecasts for the next three years while cutting its profit forecasts and target price.
US Treasury Secretary Bessent said AI-related credit is not problematic; he also discussed energy prices, the bond market, Federal Reserve policy, and the contraction of Iran’s economy under the blockade.
Revenue rose 36.8% year on year in the third quarter of 2026, but net profit fell 5% quarter on quarter. Nomura Orient International cut its earnings forecast for the year while raising its 2027–2028 forecasts, betting on higher release-film volumes and economies of scale.
JCET’s third-quarter revenue reached a quarterly record, and the company raised its full-year investment budget by 65%. JPMorgan is optimistic about AI-related orders and product upgrades, while cutting its 2027–2028 earnings forecasts because of additional depreciation.
In the third quarter of 2026, Bestechnic’s revenue recovered quarter on quarter, but net profit fell sharply both year on year and quarter on quarter. Nomura Orient International cut its earnings forecasts and is watching customer adoption and mass-production progress for the BES6100 smart glasses chip.
Third-quarter sales declines widened and expenses rose. Although wholesale prices recovered, holiday retail sell-through remained weak. JPMorgan expects continued profit pressure in the fourth quarter and believes dividends and buybacks are insufficient to offset earnings risks.
Third-quarter revenue fell 45%–50% year over year, below JPMorgan’s previous forecast. The bank lowered its full-year earnings forecast and is watching overseas store expansion costs and the company’s ability to deliver follow-on hit IP.
In the first three quarters of 2026, semiconductors and electronic materials accounted for more than 40% of Injet Electric’s revenue, while new orders rose 169.24% year over year. Materials orders grew the fastest, and the company expects order growth to drive a subsequent increase in revenue.
TUC’s third-quarter gross margin rose to 36.9%, above the Bloomberg consensus. Nomura expects price increases to continue driving profit growth, but has also lowered its valuation multiple because of uncertainty surrounding a key AI customer’s next-generation project.
Third-quarter revenue rose 46% year on year, but the more significant new development is management’s expectation that fourth-quarter interconnect chip revenue growth will rise to about 103% year on year. Bernstein raised its full-year revenue forecast and sees further demand from upgrades to server memory channels.
Third-quarter data center revenue and gross margin exceeded market expectations, but weakening PC demand and inventory adjustments weighed on the fourth-quarter outlook. Bernstein says PC headwinds are more severe than previously expected.
AWS grew 39% year over year in the third quarter, and management expects growth to remain above 40% through 2028; however, advertising growth slowed to 11%, and the midpoint of fourth-quarter operating profit guidance was below market expectations.
Semiconductor and battery businesses drove OPT’s third-quarter revenue up 46% year over year, but revenue and profit declined quarter over quarter. BofA raised its price target to 97 yuan and remains focused on the near-term margin pressure from expansion into new businesses.
