United States | Singapore | Hong Kong | Earnings
Backblaze, Inc. (BLZE US)
- Shares closed above the 5dEMA with elevated volume for the month.
- RSI is at overbought levels but the MACD is still constructive.
- Long – Entry 9.0, Target 10.0, Stop 8.5
AudioCodes Ltd. (AUDC US)
- Shares closed above the 5dEMA with elevated volume for the week.
- Both RSI and MACD are constructive.
- Long – Entry 10, Target 12, Stop 9
Singapore Airlines Ltd. (SIA SP)
- Shares closed above the 5dEMA with volume spike.
- RSI is slightly overbought but MACD is still constructive.
- Buy – Entry 6.70, Target 7.20, Stop 6.45
Riverstone Holdings Limited (RSTON SP)
- Shares closed right below the 5dEMA with elevated volume for the week.
- RSI is slightly overbought but MACD is still constructive.
- Buy – Entry 0.92, Target 1.02, Stop 0.87
AAC Technologies Holdings Inc. (2018 HK)
- Shares closed above the 5dEMA with elevated volume for the week.
- Both RSI and MACD are constructive.
- Long – Entry 44, Target 54, Stop 39
China Resources Power Holdings (836 HK)
- Shares closed above the 5wEMA.
- RSI is slightly overbought but MACD is still constructive.
- Long – Entry 21, Target 25, Stop 19
Credo Technology Group Holding Ltd (CRDO)
- 4Q26 Revenue: $437M, +157% YoY, beat estimates by $3.7M
- 4Q26 Non-GAAP EPS: $1.16, beat estimates by $0.13
- 1Q27 Guidance: 1Q27 revenue guided to $465M to $475M, above consensus expectations of about $461M. Management also indicated FY26 revenue roughly tripled to about $1.3B, with continued strength expected into FY27.
- Comment: This was a very strong quarter on the numbers. Revenue rose 157% YoY to $437M and adjusted EPS came in well ahead of expectations, extending a run of triple-digit growth driven by AI data-center connectivity demand. The core demand backdrop still looks strong, with active electrical cables and related connectivity products remaining key beneficiaries of hyperscale AI infrastructure spending. The main issue was expectations rather than execution. Despite the beat and a guide above consensus, the stock fell sharply after hours because investors focused on slightly lower-than-hoped near-term upside and some gross-margin pressure, with non-GAAP gross margin at 68.3% and 1Q27 guided around 68.0%. Credo had also rallied very hard into the print, which raised the hurdle. The principal variables to monitor are AI connectivity demand durability, margin stability as volumes scale, integration of DustPhotonics, and whether revenue growth remains strong enough to support further estimate revisions after such a major stock move. 1Q27 recommended trading range: $130 to $280. Neutral Outlook.
Credo Technology Group Holding Ltd（CRDO)
- 26财年第四季度营收：4.37亿美元，同比大增157%，超出预期370万美元
- 26财年第四季度非公认会计准则每股收益：1.16美元，超出预期0.13美元
- 27财年第一季度指引：营收4.65亿-4.75亿美元（高于市场共识约4.61亿美元）；全年营收约13亿美元（同比约翻三倍），并预计27财年延续强劲势头
- 短评：本季度财报数据极为强劲。营收同比激增157%至4.37亿美元，调整后EPS大幅超预期，延续了由AI数据中心高速连接需求驱动的连续多季三位数增长。主动式电缆（AEC）及相关互连产品持续受益于超大规模客户（hyperscalers）对AI基础设施的巨额投入，核心需求背景依然坚实。然而，市场反应却显著负面——盘后股价大跌，主因在于：（1）尽管指引略超共识，但投资者期待更高的短期上行空间；（2）毛利率出现轻微压力，Q4非GAAP毛利率为68.3%，Q1指引约68.0%，引发对规模扩张下盈利韧性的担忧；（3）财报前股价已大幅上涨，抬高了兑现门槛。后续关键变量包括：（1）AI互连需求能否维持高景气；（2）在出货量快速提升背景下，毛利率是否企稳；（3）对DustPhotonics的整合进展及技术协同效应；（4）营收增长是否足够强劲，以支撑在经历大幅上涨后的估值继续获得盈利预测上调。27财年第一季度建议交易区间：130美元至280美元。中性前景。
Hewlett Packard Enterprise Company (HPE)
- 2Q26 Revenue: $10.7B, +40.2% YoY, beat estimates by $930M
- 2Q26 Non-GAAP EPS: $0.79, beat estimates by $0.26
- FY26 Guidance: Raised FY26 revenue growth guidance to 29% to 33% from 17% to 22%, raised non-GAAP EPS guidance to $3.35 to $3.45, and now expects at least $3.5B of FY26 free cash flow.
- Comment: This was a very strong quarter. Growth was broad-based, with Networking revenue up 148% and Cloud & AI revenue up 23% to $7.71B, while Server revenue also increased sharply. The quarter indicates that HPE is now seeing meaningful AI infrastructure demand translate into both revenue scale and better operating leverage. The main positive is the scale of the guidance raise. Management effectively pulled forward long-term targets by two years, which suggests current demand is stronger than previously expected rather than merely a one-quarter spike. The immediate stock reaction was very strong, with shares rising roughly 32% to 37% after the release. The principal variables to monitor are whether AI systems demand remains strong enough to sustain this higher growth range, whether Juniper integration continues to support Networking momentum, and whether free cash flow conversion keeps pace with the much stronger top-line outlook. 3Q26 recommended trading range: $47 to $100. Neutral Outlook.
慧与科技公司（HPE)
- 26财年第二季度营收：107亿美元，同比增长40.2%，大幅超出预期9.3亿美元
- 26财年第二季度非公认会计准则每股收益：0.79美元，显著超出预期0.26美元
- 26财年全年指引：大幅上调全年营收增速至29%–33%（原为17%–22%）；上调非GAAP EPS至3.35–3.45美元；预计全年自由现金流至少达35亿美元
- 短评：本季度表现极为强劲，增长具有广泛基础。网络业务营收暴增148%，云与AI业务收入增长23%至77.1亿美元，服务器业务亦显著回升，显示AI基础设施需求正切实转化为规模化收入与运营杠杆改善。核心亮点在于指引上调幅度空前：管理层实质上将长期目标提前两年实现，表明当前需求强度远超此前预期，而非单季脉冲。财报发布后股价应声大涨32%–37%，反映市场对HPE成功切入AI基建核心赛道的高度认可。AI系统订单能否维持高位、Juniper整合是否顺利推进、以及自由现金流能否匹配迅猛的顶层增长。若执行持续兑现，HPE有望巩固其在企业级AI基础设施领域的领先地位。后续关键变量包括：（1）AI系统需求是否具备持续性；（2）Juniper整合能否巩固网络业务动能；（3）自由现金流转化效率能否匹配顶层增长。26财年第三季度建议交易区间：47美元至100美元。中性前景。
