Technology

Track semiconductors, computing infrastructure and the technology cycle.

Reports on this topic

Morgan Stanley2026-11-05

Morgan Stanley: Datadog’s core growth accelerated in the third quarter, while large-customer factors weighed on fourth-quarter guidance

Datadog’s third-quarter revenue and operating margin both exceeded market consensus, but fourth-quarter revenue guidance was broadly flat quarter over quarter. Morgan Stanley believes assumptions about usage by a large customer and renewal discounts for AI customers are near-term drags, cutting its price target from $300 to $270 while maintaining an Overweight rating.

Morgan Stanley2026-11-05

Morgan Stanley: Arm licensing revenue props up results, while CPU ramp-up faces cost and delivery tests

Arm’s 2027 fiscal second-quarter revenue and earnings per share exceeded market consensus, but royalty revenue was below expectations. The company is more confident in generating up to $2 billion in CPU revenue over two fiscal years combined, while lowering its gross margin outlook for the first-generation product.

Morgan Stanley2026-11-05

Morgan Stanley: AppLovin’s third-quarter game ads reaccelerate; raises price target to $ 450

AppLovin’s third-quarter revenue grew 14% sequentially, exceeding the company’s earlier guidance of 7%–8%. Morgan Stanley believes upgrades to the game advertising model and e-commerce expansion open up room for growth, but the revenue growth rate in the fourth-quarter guidance falls to about 8%.

Bernstein2026-11-04

Bernstein: Uber's third-quarter Mobility business slows, while Delivery growth supports overall guidance

Tight driver supply weighed on Mobility Bookings growth, while Delivery accelerated and profit performance remained solid. The company expects overall Bookings to grow 18%–22% year over year at constant currency in the fourth quarter, while increasing investment in drivers and autonomous driving.

Bernstein2026-11-04

Bernstein: Toast’s third-quarter profit beats expectations; margin expansion may slow in 2027

Toast’s recurring gross profit and adjusted EBITDA in the third quarter both exceeded market consensus, but the company plans to continue investing in AI and sales capacity, and expects margins to improve only gradually in 2027.

Bernstein2026-11-04

Bernstein: IPG Photonics’ third-quarter growth continues; cycle nearing a peak prompts target price cut

IPG Photonics posted its fourth consecutive quarter of double-digit year-over-year revenue growth in the third quarter, but its fourth-quarter guidance reflects slower growth in battery investment. Bernstein is positive on the cycle and business diversification, while lowering its valuation multiple.

Bernstein2026-11-04

Bernstein: Datadog beats third-quarter guidance, but lower AI revenue expectations weigh on price target

Datadog’s third-quarter revenue grew 35% year over year, but the increase in full-year guidance was only equivalent to the quarter’s revenue beat. Bernstein expects growth to slow in the fourth quarter and lowered its AI customer revenue model and price target.

Bernstein2026-11-05

Bernstein: Coupang’s third-quarter loss exceeds expectations; margin recovery may be delayed until mid-2027

Coupang’s revenue was broadly in line with expectations, but fire-related costs, a decline in the gross margin of its self-operated business, and spending on Taiwan expansion weighed on profit. Bernstein lowered its price target and remains cautious about the pace of profit recovery.

Bernstein2026-11-04

Bernstein: Block’s third-quarter results beat expectations; can Neighborhoods drive user growth?

Cash App lending drove gross profit above expectations, while Square’s payment volume continued to grow; Bernstein believes sustained improvement in user growth is key to valuation.

Goldman Sachs2026-11-04

Goldman Sachs: ARM licensing revenue boosts quarterly results, while weak royalties and chip gross margins constrain the outlook

ARM’s fiscal 2027 second-quarter revenue and profit exceeded market expectations, but the beat came mainly from its licensing business, while royalty revenue was weighed down by weak smartphone demand. Management is more confident about AGI CPU revenue, and Goldman Sachs raised its revenue forecast but maintained its Sell rating.

Evercore ISI2026-10-28

Evercore ISI: NXP posts strong third-quarter growth, target price cut to $ 300 amid valuation pressure

NXP’s third-quarter revenue and earnings per share both topped market consensus, but fourth-quarter guidance was broadly in line with expectations, and the shares fell 7% after hours. Evercore ISI is positive on automotive, data centers and buybacks, while lowering its earnings forecasts and target price.

HSBC2026-10-27

HSBC: MediaTek’s near-term ASIC growth is promising; V9 delays weigh on the 2028 outlook

MediaTek’s third-quarter 2026 revenue exceeded company guidance, and HSBC expects ASICs to begin making a substantial revenue contribution in the fourth quarter; however, challenges to the TPU V9 design and packaging schedule led the bank to cut its target price and maintain a Hold rating.

Cailian Press2026-11-05

Jingyan Technology sees net institutional buying of 61.26 million yuan: liquid-cooling and connector products are in mass production, while robotics products remain in R&D and validation

On 5 November, Jingyan Technology rose 20.01%. Institutional trading seats recorded net buying of 61.26 million yuan. The company’s liquid-cooling products are already being supplied in volume; some optical-module housing products and high-speed connector interfaces are in mass production. Robotics and dexterous-hand products remain at the R&D and validation stage.

Cailian Press2026-11-05

Can SOFCs ease the power-supply bottleneck at AI data centers? Construction timelines and economics are key

OpenAI proposed community commitments to reduce data centers’ impact on local power grids. Changjiang Securities believes solid oxide fuel cells can serve as a supplementary power-supply option for data centers, with their competitiveness depending on deployment speed, cost and system compatibility.

广发证券2026-11-02

GF Securities: AI capex by US cloud providers continues to grow, with a marked slowdown expected in 2028

GF Securities lowered its forecasts for capex growth at the five largest US cloud providers in 2027 and 2028: AI demand and tight computing capacity support near-term investment, but free-cash-flow and credit-rating pressures will limit subsequent expansion.

TMT Breakout

Broad-based selloff in tech stocks: semiconductors fall 13% as deleveraging deepens the pullback

QQQ fell 6.5% in a single day, with semiconductors leading the declines. TMT Breakout believes the AI trade already looked fragile ahead of the election, and that position and leverage unwinds are amplifying the decline; data-center approvals and project progress have also added new questions for investors.

Cailian Press2026-11-05

Kimi Launches Hosted Agents: Agent Runtime Framework Moves to the Cloud, Enterprise Workflows Become an Application Focus

Moonshot AI is offering its agent runtime framework as a cloud service. Brokerages believe that improvements in practical task capabilities and deployment in enterprise workflows are driving the commercialization of agents.

Cailian Press2026-11-05

Goodix Technology: From Smartphone Touch to Low-Power Bluetooth Chips and On-Device AI

Goodix Technology provides touch and side-mounted fingerprint solutions for Samsung’s first tri-fold smartphone. Its low-power Bluetooth chips are expanding into industrial and medical applications; some medical projects are at the small-scale trial-production stage.

Fengkou Yanbao2026-11-05

Anker Innovations: Balcony Solar-Plus-Storage Shifts from New Installations to Retrofits of Existing Systems; Consumer Energy-Storage Revenue Grows50%

High electricity prices in Europe and policy liberalization are driving adoption of balcony solar-plus-storage. Anker Innovations is addressing different household needs with higher-capacity new products and AC-coupled products, while reusing its consumer-electronics channels; Guotai Haitong expects its attributable net profit to grow 25.9% in 2026.

Cailian Press2026-11-05

AI PCs shift to local task execution; Gartner expects them to account for over half of shipments in 2026

Gartner expects global AI PC shipments to reach 143 million units in 2026, representing 55% of the PC market; Jinyuan Securities believes local large language models and agents will drive hardware configuration upgrades.

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