Search

Bloomberg interview: MetLife strategist Matus on Big Tech earnings, economic concentration and the Fed’s inflation stance

Drew Matus, chief market strategist at MetLife Investment Management, speaks with Bloomberg’s This Weekend: Microsoft, Alphabet, Amazon and Intel are reporting earnings in succession this week. The real concentration is not stock-market concentration, but economic concentration, with AI driving the stock market, capital spending and consumption. As for Federal Reserve Chair Kevin Warsh, the market only wants to hear that he still cares about inflation.

Accelink Technologies’ profit doubles while Dioo Microcircuits remains loss-making: How is AI business progress reflected in results?

Accelink Technologies has deployed high-speed optical modules at scale, while ICZOOM is benefiting from an upswing in the electronics industry. Dioo Microcircuits’ return to profit in the first three quarters mainly came from investment-related gains, and humanoid robots still account for a small share of Zhaowei Machinery & Electronics’ revenue. Product portfolios, customer adoption and profit contributions need to be understood in stages.

Fastprint: AI drives high-end PCB capacity expansion; substrate volume growth determines earnings upside

Soochow Securities expects Fastprint’s net profit attributable to shareholders to rise from 519 million yuan to 2.092 billion yuan over 2026–2028, driven by expanding demand for high-end PCBs and higher IC substrate volumes. Customer qualification and capacity ramp-up for high-end substrates are key conditions for translating growth into profit.

As embodied intelligence moves toward mass production, why could data collection become a critical bottleneck?

Industrial Securities believes there is still a gap between the mass production of humanoid robots and the maturity of embodied intelligence, and that real-world data could become a scarce resource for breakthroughs in physical AI. An industry-chain estimate of a data-collection market exceeding 60 billion yuan depends on two assumptions: the scale of the robot hardware market in 2030 and the share of costs attributable to data collection.

Tianfu Communication continues to expand capacity: how have Sinomach Precision Industry and CTI improved their operations?

Demand for Tianfu Communication’s passive optical devices continues to grow, but products supporting NPO remain at the sample stage. Sinomach Precision Industry’s decline in bearing revenue has narrowed, while CTI has improved its operations through order mix adjustments, capacity ramp-up and acquisition integration.

Physical AI needs more data, optical connectors scale up: what will sustain refrigerants and overseas auto expansion?

The growth drivers of four industries are diverging: physical AI depends on collecting real-world data, optical connectors already have earnings and orders to support them, refrigerants rely on quota constraints to stabilize prices, and overseas auto expansion is shifting from an export rush to local production.

Middle East risks linger as Fed week begins

OPT: From industrial inspection to robot vision—what is driving its business upgrade?

OPT is extending its industrial vision technology to robot perception and working with Dobot to develop flexible production lines. The material is optimistic about the synergy of “vision + AI + robotics,” with the combination of core components, software platforms and industrial applications serving as the key link.

Bank of America: Western Digital: With Volume and Prices Rising, Why Is Bank of America Unconcerned About Higher Capital Spending?

The year-over-year increase in price per TB widened to 28%, while visibility into major customers’ demand extends to 2031. Bank of America believes the new investment is primarily intended to increase capacity per drive rather than the number of hard drives; the product transition also limits the scope for near-term cost reductions.

Construction-stock rebound hinges on orders turning into profit; Changlan Technology’s liquid-cooling plans depend on costs and validation progress

Guosheng Securities is positive on the conversion of a cleanroom leader’s orders into profits and on opportunities in some construction stocks after their pullback. Founder Securities believes the retrofit cost of immersion liquid cooling is now close to that of cold-plate cooling, but Changlan Technology’s coolants are still undergoing validation, and its forecast profit for 2026 is below the previous year’s level.

As the “AI + Software” policy gains momentum, how can AI agents be deployed at scale?

The policy connects supply and demand through technological-upgrade funding, computing-power vouchers and procurement for application scenarios. Guotai Haitong believes software vendors with industry experience, reliable agent capabilities and delivery capabilities have a better chance of turning technology investment into revenue growth and improved profitability.

Industrial AI adoption is accelerating: how can industrial internet platforms meet demand?

Citing IDC research, the material says the proportion of Chinese industrial enterprises using large models and AI agents rose from 9.6% in 2024 to 47.5% in 2025. China Post Securities sees promise in industrial internet platforms’ accumulated data and industry knowledge, but expanding applications into factory deployments also requires connecting business processes and resolving compatibility across platforms and equipment.

AI adoption accelerates and computing-capacity orders extend into 2028: the supports and constraints behind the tech rebound

A compilation by Cailian Press shows that enterprise AI has entered finance, auditing and manufacturing, while tight AWS capacity supports a positive assessment of the computing-power supply chain. The extent to which domestic suppliers benefit depends on specific products and deliveries, and the market’s rebound on higher volume coincided with a decline in the number of companies hitting new highs.

Citi: Goldwind’s third-quarter profit misses expectations as turbine sales fall and costs and disposal gains come under pressure

Goldwind’s third-quarter net profit fell 7% year on year as turbine sales weakened, gross margin declined quarter on quarter, and gains from wind-farm disposals also fell sharply. Citi sees further downside risk to the already reduced full-year sales target, while export growth is constrained by market structure and service capabilities.

Citi: Jianghai: Fourth-quarter ramp-up in AI capacitors meets expectations; scope for 2027 upgrades depends on capacity expansion

Citi expects fourth-quarter AI-related revenue of approximately 350 million yuan, double its third-quarter estimate, but profit to be broadly in line with its original forecast. Management has given higher sales volume and average selling price figures for 2027; capacity, customer qualification and price competition will determine whether the additional growth materializes.

Citi: East Money: Proprietary trading supports third-quarter earnings; Citi sees upside from a recovery in turnover

East Money’s third-quarter net profit rose 8.9% year on year, but brokerage revenue, margin financing and securities lending balances, and client funds fell from the previous quarter, while cost efficiency also weakened. Citi maintains its Buy rating based on the potential earnings upside from a recovery in turnover, although fourth-quarter turnover data remains in decline.

Citi: Han’s Laser’s IT revenue has already exceeded its full-year guidance. Why has Citi nevertheless cut its target price?

IT and PCB revenue doubled in the first three quarters, prompting Citi to raise its 2026 earnings forecast. But changes in the mix of demand for Apple models have increased uncertainty around 3D printing orders in 2027. Citi cut its target price from 190 yuan to 147 yuan and maintained its Buy rating.

Citi: China Northern Rare Earth’s profit for the first three quarters has exceeded Citi’s full-year forecast, while cash flow has also improved

China Northern Rare Earth’s third-quarter net profit rose 40% quarter on quarter, bringing its first-three-quarter total to 101% of Citi’s full-year forecast. Product mix, output and processing costs jointly supported the operating improvement, but the 72.3 yuan target price also includes a substantial valuation premium tied to the cycle and policy.

Citi: MiniMax open-sources M3.1 Flash: Citi focuses on inference efficiency and continuity of overseas services

M3.1 Flash processed more than 100 trillion tokens in its first 72 hours. Citi attributes its pace of adoption to lower inference cost per unit and improved utility for enterprise agents. Completion of the procedures related to overseas open-sourcing also eased concerns about service disruption, but valuation remains constrained by the risk of customers switching models and risks surrounding new product launches.

Citi: Kinder Morgan’s project estimates rise: Why is Citi still Neutral?

The combined estimated cost of three major projects has risen from approximately 5 billion dollars to more than 6 billion dollars, prompting Citi to raise its Kinder Morgan price target to 35 dollars. But EBITDA is expected to remain broadly flat in 2027, and the company’s forward valuation already carries a premium to US peers, limiting the case for a rating upgrade.