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.
In the third quarter of 2026, Hengli Hydraulic’s recurring profit and operating cash flow rose 30% and 55% year over year, respectively, but foreign exchange and fair-value fluctuations weighed on reported profit, while new businesses and overseas expansion also pressured gross margins.
JPMorgan believes investment signals from AI financing are supporting US equities. The repricing of Brazilian assets remains confined to the local market for now, but crowded positions could transmit the shock to other markets through risk-management mechanisms. The Federal Reserve meeting and developments in the Middle East will also influence markets.
Risk appetite fell to its lowest level since April 2025, with credit assets leading losses while government bonds cushioned the AI-related sell-off. Goldman maintains a moderately pro-risk allocation but believes near-term events could prolong volatility.
ZTE’s revenue rose 34% year on year in the third quarter of 2026. Nomura sees Chinese cloud providers’ demand for AI servers as the main driver, but changes in the product mix and competition continue to weigh on gross margin.
Nomura reviewed four Phase III trials involving Kelun-Biotech, KeyMed Biosciences, Hengrui Pharmaceuticals and Hansoh Pharma: Kelun-Biotech’s drug improved both overall survival and progression-free survival, but had a higher rate of serious treatment-related adverse events; KeyMed’s drug met only one of its dual primary endpoints.
As growth in China’s mobile user base slows, ByteDance apps continue to expand their share of usage time. PineDrama leads overseas short-drama apps in user growth, but its user base remains smaller than those of earlier rivals. AI office tools and free music have also become new battlegrounds for platforms competing for users.
Higher customer advances and improved operating cash flow indicate that demand remains supported, but domestic price competition and the expansion of lower-margin products continue to weigh on margins. Nomura maintains its Buy rating and price target of 125 yuan.
Nomura has raised its forecast for new global data center deployments in 2027 from 32 gigawatts to 40 gigawatts and expects supply chain shortages to persist through 2027. At the same time, rising debt financing costs, project execution risks and limited visibility into 2028 demand constrain the optimistic view.
Li Ning brand retail sales fell by a low-single-digit percentage year on year in the third quarter. Direct retail sales were flat, but wholesale remained weak. Nomura cut its earnings forecasts and target price, saying brand investment supports long-term brand recognition, while a sluggish industry constrains near-term sales returns.
Wind turbine sales fell year on year and gross margin declined quarter on quarter, but overseas orders on hand continued to grow. Nomura cut its earnings forecasts and target price, while still expecting a greater share of overseas business to support a recovery in turbine margins.
