{"id":88615,"date":"2026-05-06T09:07:38","date_gmt":"2026-05-06T01:07:38","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=88615"},"modified":"2026-05-06T09:07:38","modified_gmt":"2026-05-06T01:07:38","slug":"technical-analysis-6-may-2026","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-6-may-2026\/","title":{"rendered":"Technical Analysis &#8211; 6 May 2026"},"content":{"rendered":"\n<p class=\"has-cyan-bluish-gray-background-color has-background wp-block-paragraph\" id=\"top\"><strong><a href=\"\/researchstg\/#us\">United States<\/a> | <a href=\"\/researchstg\/#sg\">Singapore<\/a> | <a href=\"\/researchstg\/#hk\">Hong Kong<\/a> | <a href=\"\/researchstg\/#ea\" title=\"\">Earnings<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"us\"><a id=\"post-76998-_5ifytjpamge8\"><\/a><figure><img fetchpriority=\"high\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-77026\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-76998-1.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-76998-1.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/09\/word-image-76998-1-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">General Dynamics Corporation\u00a0(GD\u00a0US)<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"903\" height=\"540\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-72.png\" alt=\"\" class=\"wp-image-88647\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-72.png 903w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-72-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-72-768x459.png 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed above the\u00a05dEMA.\u00a0<\/li>\n\n\n\n<li>RSI\u00a0is constructive\u00a0and MACD\u00a0is about to turn positive.\u00a0<\/li>\n\n\n\n<li><strong>Long \u2013 Entry\u00a0340,\u00a0Target\u00a0370,\u00a0Stop\u00a0325<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-9.png\" alt=\"A line in a white background\n\nDescription automatically generated\" class=\"wp-image-87138\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-9.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-9-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Universal Safety Products, Inc\u00a0(UUU\u00a0US)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"540\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-71.png\" alt=\"\" class=\"wp-image-88645\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-71.png 903w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-71-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-71-768x459.png 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed\u00a0above\u00a0the 5dEMA.\u00a0\u00a0<\/li>\n\n\n\n<li>Both RSI and MACD are constructive.\u00a0<\/li>\n\n\n\n<li><strong>Long \u2013 Entry\u00a06,\u00a0Target\u00a08,\u00a0Stop\u00a05<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"\/researchstg\/#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87084-4-1.png\" alt=\"\" class=\"wp-image-87140\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87084-4-1.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87084-4-1-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-86958-_q3z2pzaup3mw\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-5.png\" class=\"wp-image-87044\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-5.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-5-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Aoxin\u00a0Q&M Dental Group Ltd.\u00a0(AOXIN\u00a0SP)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"540\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-57.png\" alt=\"\" class=\"wp-image-88618\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-57.png 903w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-57-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-57-768x459.png 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed\u00a0above the 5dEMA with rising volume.\u00a0<\/li>\n\n\n\n<li>Both RSI and MACD are constructive.\u00a0<\/li>\n\n\n\n<li><strong>Buy\u00a0\u2013 Entry\u00a00.20,\u00a0Target\u00a00.28,\u00a0Stop\u00a00.16<\/strong>\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png\" alt=\"A line in a white background\n\nDescription automatically generated\" class=\"wp-image-87159\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Trendlines Group Ltd.\u00a0(TTGL\u00a0SP)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"540\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-58.png\" alt=\"\" class=\"wp-image-88619\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-58.png 903w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-58-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-58-768x459.png 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed above the 5dEMA\u00a0with rising volume.\u00a0<\/li>\n\n\n\n<li>Both RSI and MACD are constructive.\u00a0<\/li>\n\n\n\n<li><strong>Buy\u00a0\u2013 Entry\u00a00.06,\u00a0Target\u00a00.08,\u00a0Stop\u00a00.05<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"\/researchstg\/#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87147-4.png\" alt=\"\" class=\"wp-image-87161\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87147-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87147-4-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><a id=\"post-87147-_ox2yqx6nkukc\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-87162\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87147-5.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87147-5.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-87147-5-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\">KE Holdings,\u00a0Inc.\u00a0(2423\u00a0HK)<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"534\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-59.png\" alt=\"\" class=\"wp-image-88620\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-59.png 903w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-59-300x177.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-59-768x454.png 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed at a two-months high above the 100dEMA.\u00a0<\/li>\n\n\n\n<li>Both RSI and MACD are constructive.\u00a0<\/li>\n\n\n\n<li><strong>Long\u00a0<\/strong>\u2013\u00a0<strong>Entry\u00a046,\u00a0Target\u00a050,\u00a0Stop\u00a044<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png\" alt=\"A line in a white background\n\nDescription automatically generated\" class=\"wp-image-87159\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">China Overseas Land & Investment Ltd (688\u00a0HK)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"534\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-60.png\" alt=\"\" class=\"wp-image-88621\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-60.png 903w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-60-300x177.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-60-768x454.png 768w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares\u00a0closed at a\u00a0two-months\u00a0high above the\u00a05dEMA.\u00a0\u00a0<\/li>\n\n\n\n<li>MACD is constructive, while RSI\u00a0is\u00a0overbought.\u00a0<\/li>\n\n\n\n<li><strong>Long \u2013 Entry\u00a013.7,\u00a0Target\u00a014.8, Stop\u00a013.2<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"\/researchstg\/#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-14.png\" alt=\"\" class=\"wp-image-87053\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-14.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-14-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\" id=\"er\"><img loading=\"lazy\" decoding=\"async\" width=\"601\" height=\"108\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-15.png\" alt=\"\" class=\"wp-image-87054\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-15.png 601w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/03\/word-image-86958-15-300x54.png 300w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Shopify Inc. (SHOP)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$3.17B,\u00a0+34.3% YoY,\u00a0beat\u00a0estimates\u00a0by $80M\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$0.36,\u00a0beat estimates by $0.03\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2Q<\/strong><strong>26\u00a0Guidance:<\/strong>\u00a02Q26 revenue is expected to grow at a high-20s % rate YoY. Shopify guided gross profit dollars to grow at a mid-20s % rate, operating expenses at 35% to 36% of revenue, and free cash flow margin to remain in the mid-teens.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>The quarter was strong on the core operating metrics. Revenue rose 34% YoY to $3.17B and GMV increased to about $100.7B,\u00a0indicating\u00a0that merchant activity and payments penetration remain healthy. This supports the view that Shopify is still executing well across both subscription and merchant solutions. The issue was the outlook on profitability rather than demand. While 2Q26 revenue guidance was solid, investors focused on higher operating expense guidance and only steady free cash flow margin. There is also a continued mix shift toward lower-margin merchant solutions, which can pressure near-term operating leverage even when GMV and revenue remain strong. The market reaction was negative, with shares falling sharply after the release. The principal variables to monitor are merchant solutions mix,\u00a0operating-expense discipline, gross profit growth\u00a0relative\u00a0to revenue growth, and whether AI-related product investment translates into stronger monetization rather than just higher cost.\u00a0<strong>2Q26\u00a0recommended trading range: $85\u00a0to $130.\u00a0Neutral\u00a0Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Shopify\u00a0Inc.\uff08SHOP<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>31.7\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f34.3%\uff0c\u8d85\u51fa\u9884\u671f8000\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>0.36\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.03\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u6536\u9884\u8ba1\u540c\u6bd4\u589e\u957f\u9ad8\u4e8c\u5341\u51e0%\uff1b\u6bdb\u5229\u6da6\u7f8e\u5143\u589e\u957f\u4e2d\u4e8c\u5341\u51e0%\uff1b\u8fd0\u8425\u652f\u51fa\u5360\u8425\u6536\u6bd4\u4f8b35%\u201336%\uff1b\u81ea\u7531\u73b0\u91d1\u6d41\u5229\u6da6\u7387\u7ef4\u6301\u5728\u4e2d teens\uff08\u7ea613%\u201316%\uff09\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u6838\u5fc3\u8fd0\u8425\u6307\u6807\u8868\u73b0\u5f3a\u52b2\u3002\u8425\u6536\u540c\u6bd4\u589e\u957f34%\u81f331.7\u4ebf\u7f8e\u5143\uff0c\u5546\u54c1\u4ea4\u6613\u603b\u989d\uff08GMV\uff09\u8fbe1007\u4ebf\u7f8e\u5143\uff0c\u663e\u793a\u5546\u5bb6\u6d3b\u8dc3\u5ea6\u4e0e\u652f\u4ed8\u6e17\u900f\u7387\u4fdd\u6301\u5065\u5eb7\uff0c\u5370\u8bc1Shopify\u5728\u8ba2\u9605\u670d\u52a1\u4e0e\u5546\u5bb6\u89e3\u51b3\u65b9\u6848\u4e24\u5927\u4e1a\u52a1\u7ebf\u5747\u6267\u884c\u826f\u597d\u3002\u7136\u800c\uff0c\u5e02\u573a\u62c5\u5fe7\u7126\u70b9\u4e0d\u5728\u9700\u6c42\u7aef\uff0c\u800c\u5728\u76c8\u5229\u8def\u5f84\u7684\u53ef\u89c1\u6027\uff1a\u5c3d\u7ba1Q2\u8425\u6536\u6307\u5f15\u7a33\u5065\uff0c\u4f46\u6295\u8d44\u8005\u5bf9\u66f4\u9ad8\u7684\u8fd0\u8425\u652f\u51fa\u5360\u6bd4\u53ca\u81ea\u7531\u73b0\u91d1\u6d41\u5229\u6da6\u7387\u4ec5\u6301\u5e73\u611f\u5230\u5931\u671b\u3002\u540c\u65f6\uff0c\u6536\u5165\u7ed3\u6784\u6301\u7eed\u5411\u4f4e\u6bdb\u5229\u7387\u7684\u5546\u5bb6\u89e3\u51b3\u65b9\u6848\uff08\u5982\u652f\u4ed8\u3001\u7269\u6d41\uff09\u503e\u659c\uff0c\u5373\u4fbfGMV\u548c\u9876\u5c42\u6536\u5165\u589e\u957f\u5f3a\u52b2\uff0c\u4ecd\u53ef\u80fd\u538b\u5236\u8fd1\u7aef\u8fd0\u8425\u6760\u6746\u3002\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u5927\u5e45\u4e0b\u8dcc\uff0c\u53cd\u6620\u5e02\u573a\u5bf9\u5229\u6da6\u7387\u627f\u538b\u4e0e\u6210\u672c\u6269\u5f20\u7684\u654f\u611f\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u5546\u5bb6\u89e3\u51b3\u65b9\u6848\u5728\u6536\u5165\u4e2d\u7684\u5360\u6bd4\u6f14\u53d8\uff1b\uff082\uff09\u8fd0\u8425\u652f\u51fa\u7eaa\u5f8b\u80fd\u5426\u5f3a\u5316\uff1b\uff083\uff09\u6bdb\u5229\u6da6\u589e\u901f\u662f\u5426\u8ddf\u4e0a\u8425\u6536\u6269\u5f20\uff1b\uff084\uff09AI\u76f8\u5173\u4ea7\u54c1\u6295\u5165\u80fd\u5426\u8f6c\u5316\u4e3a\u66f4\u5f3a\u53d8\u73b0\u80fd\u529b\uff0c\u800c\u975e\u4ec5\u589e\u52a0\u6210\u672c\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a85\u7f8e\u5143\u81f3130\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<br>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>PayPal Holdings, Inc. (PYPL)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$8.4B,\u00a0+7% YoY, beat estimates by\u00a0$340M\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP EPS<\/strong>:\u00a0$1.34,\u00a0beat estimates by\u00a0$0.07\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY26<\/strong><strong>\u00a0Guidance:<\/strong>\u00a0Reaffirmed FY26 adjusted EPS guidance of $5.15 to $5.30.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Dividends\/Share Buybacks:\u00a0<\/strong>PayPal repurchased about $1.5B of stock in 1Q26 and continues to target\u00a0roughly $6B of buybacks for FY26.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>The quarter was better than the headline revenue growth suggests. Transaction margin dollars increased 7% to $3.7B, total payment volume rose 7% to $417.2B, and branded checkout accelerated to 6% growth,\u00a0indicating\u00a0the core checkout business is stabilizing while profitability improves. Venmo revenue also rose more than 20%, supported by debit card and instant transfer usage.\u00a0The main issue is that top-line growth\u00a0remains\u00a0modest and the market is still debating durability. Unbranded processing growth slowed, active accounts were\u00a0essentially flat, and management only reaffirmed rather than raised the full-year outlook. The stock fell about 4% after the release, which reflects investor concern that margin improvement is outpacing revenue acceleration rather than occurring alongside it.\u00a0The principal variables to monitor are branded checkout growth, transaction margin dollar expansion, Venmo monetization, and whether product simplification and buybacks can support a sustained rerating without a clearer revenue reacceleration.\u00a0<strong>2Q26 recommended trading range: $35\u00a0to $60.\u00a0Neutral\u00a0Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>PayPal Holdings,\u00a0Inc.\uff08PYPL<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>84\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f7%\uff0c\u8d85\u51fa\u9884\u671f3.4\u4ebf\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>1.34\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/strong>\u91cd\u7533\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca5.15\u20135.30\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u80a1\u606f\u4e0e\u8d44\u672c\u8fd4\u8fd8\uff1a<\/strong>\u7b2c\u4e00\u5b63\u5ea6\u56de\u8d2d\u7ea615\u4ebf\u7f8e\u5143\u80a1\u7968\uff0c\u7ef4\u63012026\u8d22\u5e74\u7ea660\u4ebf\u7f8e\u5143\u56de\u8d2d\u76ee\u6807\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u4f18\u4e8e\u8868\u9762\u8425\u6536\u589e\u901f\u6240\u6697\u793a\u7684\u6c34\u5e73\u3002\u4ea4\u6613\u6bdb\u5229\uff08Transaction Margin Dollars\uff09\u589e\u957f7%\u81f337\u4ebf\u7f8e\u5143\uff0c\u603b\u652f\u4ed8\u989d\uff08TPV\uff09\u8fbe4172\u4ebf\u7f8e\u5143\uff08+7%\uff09\uff0c\u54c1\u724c\u7ed3\u8d26\uff08Branded Checkout\uff09\u540c\u6bd4\u589e\u957f6%\uff0c\u663e\u793a\u6838\u5fc3\u7ed3\u8d26\u4e1a\u52a1\u6b63\u4f01\u7a33\uff0c\u540c\u65f6\u76c8\u5229\u80fd\u529b\u6301\u7eed\u6539\u5584\u3002Venmo\u6536\u5165\u589e\u957f\u8d8520%\uff0c\u53d7\u76ca\u4e8e\u501f\u8bb0\u5361\u53ca\u5373\u65f6\u8f6c\u8d26\u4f7f\u7528\u91cf\u63d0\u5347\u3002\u7136\u800c\uff0c\u9876\u5c42\u589e\u957f\u4ecd\u663e\u6e29\u548c\uff0c\u5e02\u573a\u5bf9\u53ef\u6301\u7eed\u6027\u5b58\u7591\uff1a\u975e\u54c1\u724c\u5904\u7406\uff08Unbranded Processing\uff09\u589e\u901f\u653e\u7f13\uff0c\u6d3b\u8dc3\u8d26\u6237\u6570\u57fa\u672c\u6301\u5e73\uff0c\u4e14\u7ba1\u7406\u5c42\u4ec5\u91cd\u7533\u5168\u5e74\u6307\u5f15\uff0c\u672a\u4e88\u4e0a\u8c03\u3002\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u4e0b\u8dcc\u7ea64%\uff0c\u53cd\u6620\u6295\u8d44\u8005\u62c5\u5fe7\u2014\u2014\u5229\u6da6\u7387\u6539\u5584\u6b63\u5feb\u4e8e\u8425\u6536\u52a0\u901f\uff0c\u800c\u975e\u540c\u6b65\u53d1\u751f\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u54c1\u724c\u7ed3\u8d26\u589e\u957f\u80fd\u5426\u5ef6\u7eed\uff1b\uff082\uff09\u4ea4\u6613\u6bdb\u5229\u7f8e\u5143\u662f\u5426\u6301\u7eed\u6269\u5f20\uff1b\uff083\uff09Venmo\u53d8\u73b0\u6548\u7387\u63d0\u5347\uff1b\uff084\uff09\u5728\u7f3a\u4e4f\u660e\u786e\u8425\u6536\u518d\u52a0\u901f\u7684\u60c5\u51b5\u4e0b\uff0c\u4ea7\u54c1\u7b80\u5316\u4e0e\u80a1\u7968\u56de\u8d2d\u80fd\u5426\u652f\u6491\u4f30\u503c\u6301\u7eed\u91cd\u4f30\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a35\u7f8e\u5143\u81f360\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>KKR & Co. Inc.\u00a0(KKR)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0AUM:\u00a0<\/strong>$758B,\u00a0+14% YoY.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$1.39,\u00a0beat estimates by\u00a0$0.13\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2Q<\/strong><strong>26 Guidance:<\/strong>\u00a0No explicit\u00a0guidance.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>The quarter was strong on the core fee engine. Adjusted net income reached about $1.25B, management fees rose 30% to $1.2B, and fee-related earnings per share increased 23% to $1.13. AUM reached a record\u00a0roughly $758B, while KKR raised $28B of new capital, including about $23B for North America Fund XIV. The main issue is not current execution, but forward visibility. Gross returns were modest, around 1% in private equity and negative in credit strategies, and management explicitly cautioned that volatility, geopolitical risk, and tighter credit conditions may make it harder to hit prior earnings ambitions. That is why the stock reaction softened after the\u00a0initial\u00a0beat. The principal variables to monitor are realization activity, fundraising durability, fee-related earnings growth, and whether volatility starts to delay exits or reduce deployment economics.\u00a0<strong>2Q26 recommended trading range: $85\u00a0to $130.\u00a0Neutral\u00a0Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>KKR & Co.\u00a0Inc.\uff08KKR<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7ba1\u7406\u8d44\u4ea7\u89c4\u6a21\uff08AUM\uff09\uff1a<\/strong>7580\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f14%\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>1.39\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.13\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u672a\u63d0\u4f9b\u660e\u786e\u8d22\u52a1\u6307\u5f15\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u5728\u6838\u5fc3\u8d39\u7528\u5f15\u64ce\u65b9\u9762\u8868\u73b0\u5f3a\u52b2\u3002\u8c03\u6574\u540e\u51c0\u5229\u6da6\u7ea612.5\u4ebf\u7f8e\u5143\uff0c\u7ba1\u7406\u8d39\u6536\u5165\u5927\u589e30%\u81f312\u4ebf\u7f8e\u5143\uff0c\u8d39\u7528\u76f8\u5173\u6bcf\u80a1\u6536\u76ca\uff08FRE per share\uff09\u589e\u957f23%\u81f31.13\u7f8e\u5143\u3002AUM\u8fbe\u521b\u7eaa\u5f55\u7684\u7ea67580\u4ebf\u7f8e\u5143\uff0c\u5b63\u5ea6\u5185\u52df\u8d44280\u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u5305\u62ec\u5317\u7f8e\u7b2c\u5341\u56db\u671f\u57fa\u91d1\uff08North America Fund XIV\uff09\u7684\u7ea6230\u4ebf\u7f8e\u5143\uff0c\u663e\u793a\u5176\u52df\u8d44\u80fd\u529b\u4f9d\u7136\u9886\u5148\u540c\u4e1a\u3002\u7136\u800c\uff0c\u5f53\u524d\u6311\u6218\u4e0d\u5728\u6267\u884c\uff0c\u800c\u5728\u524d\u77bb\u6027\u80fd\u89c1\u5ea6\uff1a\u4e00\u5b63\u5ea6\u79c1\u52df\u80a1\u6743\u7efc\u5408\u56de\u62a5\u7387\u4ec5\u7ea61%\uff0c\u4fe1\u8d37\u7b56\u7565\u66f4\u5f55\u5f97\u8d1f\u56de\u62a5\uff1b\u7ba1\u7406\u5c42\u660e\u786e\u8b66\u793a\uff0c\u5e02\u573a\u6ce2\u52a8\u3001\u5730\u7f18\u653f\u6cbb\u98ce\u9669\u53ca\u4fe1\u8d37\u73af\u5883\u6536\u7d27\u53ef\u80fd\u4f7f\u516c\u53f8\u96be\u4ee5\u5b9e\u73b0\u6b64\u524d\u8bbe\u5b9a\u7684\u76c8\u5229\u76ee\u6807\u3002\u6b63\u56e0\u5982\u6b64\uff0c\u5c3d\u7ba1\u4e1a\u7ee9\u8d85\u9884\u671f\uff0c\u80a1\u4ef7\u5728\u76d8\u521d\u4e0a\u6da8\u540e\u56de\u5410\u6da8\u5e45\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u8d44\u4ea7\u9000\u51fa\u4e0e\u5151\u73b0\u6d3b\u52a8\u8282\u594f\uff1b\uff082\uff09\u52df\u8d44\u52bf\u5934\u80fd\u5426\u6301\u7eed\uff1b\uff083\uff09\u8d39\u7528\u76f8\u5173\u6536\u76ca\u7684\u589e\u957f\u53ef\u6301\u7eed\u6027\uff1b\uff084\uff09\u5e02\u573a\u6ce2\u52a8\u662f\u5426\u8fdb\u4e00\u6b65\u5ef6\u8fdf\u9000\u51fa\u6216\u524a\u5f31\u6295\u8d44\u90e8\u7f72\u56de\u62a5\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a85\u7f8e\u5143\u81f3130\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Advanced Micro Devices, Inc.\u00a0(AMD)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$10.25B,\u00a0+37.8% YoY, beat estimates by\u00a0330M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$1.37,\u00a0beat estimates by\u00a0$0.08\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2Q<\/strong><strong>26 Guidance:<\/strong>\u00a02Q26 revenue guided to about $11.2B, above expectations, with non-GAAP gross margin expected at about 56%.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was a strong quarter, led by Data\u00a0Center. Segment revenue rose 57% YoY to $5.8B, driven by EPYC server CPUs and continued Instinct GPU ramp, while Client and Gaming revenue also increased 23% to $3.6B. The result supports the view that AMD is gaining real traction across AI infrastructure rather than relying on one product cycle. The main positive is the guidance and the mix. Q2 revenue guidance of about $11.2B implies another step up, and management also pointed to stronger long-term server CPU market assumptions. At the same time, there are still areas to watch, including rising competition, supply-chain tightness in memory, and softer expectations for PCs and gaming in the second half. The stock reacted positively after the release, with reports\u00a0indicating\u00a0an after-hours gain of\u00a0roughly 7%\u00a0to 12%, which is consistent with a market that was looking for a clear AI-led beat and raise. The principal variables to monitor are Data\u00a0Center\u00a0growth durability, Instinct GPU scale-up, gross-margin progression as AI mix rises, and whether weaker consumer end markets begin to offset some of the server strength later in the year.\u00a0<strong>2Q26 recommended trading range: $380 to $500.\u00a0Positive\u00a0Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u8d85\u5a01\u534a\u5bfc\u4f53\u516c\u53f8\uff08AMD<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>102.5\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f37.8%\uff0c\u8d85\u51fa\u9884\u671f3.3\u4ebf\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>1.37\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.08\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u6536\u7ea6112\u4ebf\u7f8e\u5143\uff08\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\uff09\uff0c\u975eGAAP\u6bdb\u5229\u7387\u7ea656%\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u5f3a\u52b2\uff0c\u6570\u636e\u4e2d\u5fc3\u4e1a\u52a1\u4e3a\u6700\u5927\u9a71\u52a8\u529b\u3002\u8be5\u677f\u5757\u8425\u6536\u540c\u6bd4\u5927\u589e57%\u81f358\u4ebf\u7f8e\u5143\uff0c\u53d7\u76ca\u4e8eEPYC\u670d\u52a1\u5668CPU\u6301\u7eed\u6e17\u900f\u53caInstinct AI GPU\u52a0\u901f\u4e0a\u91cf\uff1b\u5ba2\u6237\u7aef\u4e0e\u6e38\u620f\u4e1a\u52a1\u4ea6\u589e\u957f23%\u81f336\u4ebf\u7f8e\u5143\u3002\u6b64\u7ed3\u679c\u5370\u8bc1AMD\u6b63\u5728AI\u57fa\u7840\u8bbe\u65bd\u9886\u57df\u5efa\u7acb\u5e7f\u6cdb\u4e14\u53ef\u6301\u7eed\u7684\u7ade\u4e89\u529b\uff0c\u800c\u975e\u4f9d\u8d56\u5355\u4e00\u4ea7\u54c1\u5468\u671f\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8e\u524d\u77bb\u6307\u5f15\u4e0e\u4ea7\u54c1\u7ec4\u5408\u4f18\u5316\uff1aQ2\u8425\u6536\u6307\u5f15112\u4ebf\u7f8e\u5143\u9690\u542b\u73af\u6bd4\u8fdb\u4e00\u6b65\u589e\u957f\uff0c\u7ba1\u7406\u5c42\u4ea6\u4e0a\u8c03\u5bf9\u957f\u671f\u670d\u52a1\u5668CPU\u5e02\u573a\u4efd\u989d\u7684\u9884\u671f\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c\u4ecd\u9700\u5173\u6ce8\u82e5\u5e72\u98ce\u9669\uff1a\u7ade\u4e89\u52a0\u5267\u3001\u5185\u5b58\u4f9b\u5e94\u94fe\u8d8b\u7d27\uff0c\u4ee5\u53ca\u4e0b\u534a\u5e74PC\u4e0e\u6e38\u620f\u7ec8\u7aef\u9700\u6c42\u53ef\u80fd\u8f6c\u5f31\u3002\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u76d8\u540e\u5927\u6da87%\u201312%\uff0c\u53cd\u6620\u5e02\u573a\u5bf9\u201c\u6e05\u6670\u7684AI\u9a71\u52a8\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u7684\u79ef\u6781\u8ba4\u53ef\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u6570\u636e\u4e2d\u5fc3\u589e\u957f\u7684\u6301\u7eed\u6027\uff1b\uff082\uff09Instinct GPU\u4ea7\u80fd\u4e0e\u5ba2\u6237\u91c7\u7eb3\u901f\u5ea6\uff1b\uff083\uff09\u968f\u7740AI\u4ea7\u54c1\u5360\u6bd4\u63d0\u5347\uff0c\u6bdb\u5229\u7387\u80fd\u5426\u7a33\u6b65\u6539\u5584\uff1b\uff084\uff09\u6d88\u8d39\u7c7b\u7ec8\u7aef\u75b2\u8f6f\u662f\u5426\u5728\u5e74\u5185\u90e8\u5206\u62b5\u6d88\u670d\u52a1\u5668\u5f3a\u52bf\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a380\u7f8e\u5143\u81f3500\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Lumentum\u00a0Holdings Inc.\u00a0(LITE)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>3Q26\u00a0Revenue:\u00a0<\/strong>$808.4M,\u00a0+90.1% YoY,\u00a0miss\u00a0estimates by $1.65M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>3Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$2.37,\u00a0beat estimates by\u00a0$0.10\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>4Q<\/strong><strong>26 Guidance:<\/strong>\u00a04Q26 revenue guided to $960M to $1.01B and adjusted EPS to $2.85 to $3.05, both ahead of market expectations. Non-GAAP operating margin is guided to 35.0% to 36.0%.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was\u00a0a very strong\u00a0quarter on profitability and AI-driven optical demand. Revenue\u00a0nearly doubled\u00a0YoY,\u00a0non GAAP\u00a0operating margin expanded to 32.2% from 10.8% a year earlier, and management pointed to continued strength in cloud and AI networking demand. The quarter also showed that pricing, mix, and execution are improving at the same time. The main debate is expectations rather than fundamentals. Revenue came in a touch light versus consensus, and the stock fell after hours despite the earnings beat and strong F4 guide. The company has also already rallied sharply in 2026, so the hurdle for further upside is higher. The principal variables to monitor are whether AI optical demand continues to outpace supply into 2027 to 2028, whether margin expansion\u00a0remains\u00a0this strong as volumes scale, and whether co-packaged optics and optical circuit switching become meaningful contributors.\u00a0<strong>4Q26 recommended trading range: $850 to $1300.\u00a0Positive\u00a0Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Lumentum\u00a0Holdings\u00a0Inc.\uff08LITE<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>8.084\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f90.1%\uff0c\u7565\u4f4e\u4e8e\u9884\u671f165\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>2.37\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.10\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u65369.6\u4ebf\u201310.1\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca2.85\u20133.05\u7f8e\u5143\uff0c\u5747\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\uff1b\u975eGAAP\u8425\u4e1a\u5229\u6da6\u7387\u6307\u5f15\u4e3a35.0%\u201336.0%\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u5728\u76c8\u5229\u80fd\u529b\u4e0eAI\u9a71\u52a8\u7684\u5149\u901a\u4fe1\u9700\u6c42\u65b9\u9762\u8868\u73b0\u6781\u4e3a\u5f3a\u52b2\u3002\u8425\u6536\u540c\u6bd4\u63a5\u8fd1\u7ffb\u500d\uff0c\u975eGAAP\u8425\u4e1a\u5229\u6da6\u7387\u4ece\u53bb\u5e74\u540c\u671f\u768410.8%\u5927\u5e45\u6269\u5f20\u81f332.2%\uff0c\u7ba1\u7406\u5c42\u5f3a\u8c03\u4e91\u670d\u52a1\u4e0eAI\u7f51\u7edc\u5bf9\u9ad8\u7aef\u5149\u5b66\u5668\u4ef6\u7684\u9700\u6c42\u6301\u7eed\u65fa\u76db\u3002\u540c\u65f6\uff0c\u5b9a\u4ef7\u80fd\u529b\u3001\u4ea7\u54c1\u7ec4\u5408\u4f18\u5316\u4e0e\u8fd0\u8425\u6267\u884c\u540c\u6b65\u6539\u5584\uff0c\u663e\u793a\u516c\u53f8\u6b63\u9ad8\u6548\u8f6c\u5316\u884c\u4e1a\u9ad8\u666f\u6c14\u4e3a\u76c8\u5229\u5f39\u6027\u3002\u5f53\u524d\u4e3b\u8981\u77db\u76fe\u4e0d\u5728\u57fa\u672c\u9762\uff0c\u800c\u5728\u5e02\u573a\u9884\u671f\u5df2\u9ad8\uff1a\u5c3d\u7ba1EPS\u8d85\u9884\u671f\u4e14Q4\u6307\u5f15\u5f3a\u52b2\uff0c\u4f46\u56e0\u8425\u6536\u5fae\u5e45\u4e0d\u53ca\u5171\u8bc6\uff0c\u53e0\u52a0\u80a1\u4ef7\u57282026\u5e74\u5df2\u5927\u5e45\u4e0a\u6da8\uff0c\u76d8\u540e\u80a1\u4ef7\u56de\u843d\uff0c\u53cd\u6620\u6295\u8d44\u8005\u5bf9\u201c\u5b8c\u7f8e\u5151\u73b0\u201d\u8981\u6c42\u63d0\u5347\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff092027\u20132028\u5e74AI\u5149\u5b66\u9700\u6c42\u80fd\u5426\u6301\u7eed\u5feb\u4e8e\u4f9b\u7ed9\uff0c\u7ef4\u6301\u4f9b\u9700\u7d27\u5e73\u8861\uff1b\uff082\uff09\u5728\u51fa\u8d27\u91cf\u6269\u5927\u7684\u540c\u65f6\uff0c\u5229\u6da6\u7387\u6269\u5f20\u80fd\u5426\u4fdd\u6301\u5f3a\u52b2\uff1b\uff083\uff09\u5171\u5c01\u88c5\u5149\u5b66\uff08CPO\uff09\u4e0e\u5149\u7535\u8def\u4ea4\u6362\u7b49\u4e0b\u4e00\u4ee3\u6280\u672f\u662f\u5426\u5f00\u59cb\u8d21\u732e\u5b9e\u8d28\u6027\u6536\u5165\u3002<strong>26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a850\u7f8e\u5143\u81f31300\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Super Micro Computer, Inc.\u00a0(SMCI)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>3Q26\u00a0Revenue:\u00a0<\/strong>$10.2B,\u00a0+121.7% YoY,\u00a0miss\u00a0estimates by $2.25B.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>3Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$0.84,\u00a0beat estimates by\u00a0$0.22\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>4Q<\/strong><strong>26 Guidance:<\/strong>\u00a04Q26 revenue guided to $11.0B to $12.5B and adjusted EPS to $0.65 to $0.79, both ahead of market expectations.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was a mixed quarter with a better forward setup. Revenue surged 123% YoY, but the print missed both Street expectations and the company\u2019s own prior guide because of customer site readiness delays and supply-chain constraints. On the other hand, margins recovered meaningfully, with gross margin improving to 9.9% from 6.3% in the prior quarter, which helped drive a clear EPS beat.\u00a0The key positive is that management framed the revenue shortfall as timing rather than demand deterioration. Orders and backlog remain strong, AI GPU-related platforms contributed more than 80% of revenue, and the F4Q26 guide implies deferred demand should begin converting over the next quarter. The after-hours stock reaction, up about 18%, shows the market focused more on margin recovery and the stronger guide than on the revenue miss itself. The main risks\u00a0remain\u00a0execution and credibility. Investors still need proof that delayed revenue truly converts, that margins stay near current levels, and that legal and compliance overhangs do not broaden. The principal variables to monitor are F4 revenue conversion, gross-margin durability, manufacturing ramp outside the U.S., and whether backlog strength translates into a cleaner FY27 setup.\u00a0<strong>4Q26 recommended trading range: $27\u00a0to $40. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u8d85\u5fae\u7535\u8111\u516c\u53f8\uff08SMCI<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>102\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f121.7%\uff0c\u4f4e\u4e8e\u9884\u671f22.5\u4ebf\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>0.84\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.22\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u6536110\u4ebf\u2013125\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca0.65\u20130.79\u7f8e\u5143\uff0c\u5747\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u559c\u5fe7\u53c2\u534a\uff0c\u4f46\u524d\u77bb\u683c\u5c40\u660e\u663e\u6539\u5584\u3002\u8425\u6536\u540c\u6bd4\u6fc0\u589e123%\uff0c\u4f46\u4ecd\u4e0d\u53ca\u5e02\u573a\u53ca\u516c\u53f8\u81ea\u8eab\u6b64\u524d\u6307\u5f15\uff0c\u4e3b\u56e0\u5ba2\u6237\u6570\u636e\u4e2d\u5fc3\u5c31\u7eea\u5ef6\u8fdf\u53ca\u4f9b\u5e94\u94fe\u74f6\u9888\u5bfc\u81f4\u4ea4\u4ed8\u63a8\u8fdf\u3002\u7136\u800c\uff0c\u5229\u6da6\u7387\u663e\u8457\u4fee\u590d\uff1a\u6bdb\u5229\u7387\u4ece\u4e0a\u5b63\u5ea6\u76846.3%\u56de\u5347\u81f39.9%\uff0c\u63a8\u52a8EPS\u6e05\u6670\u8d85\u9884\u671f\u3002\u7ba1\u7406\u5c42\u5f3a\u8c03\uff0c\u6536\u5165\u7f3a\u53e3\u5c5e\u65f6\u70b9\u6027\u95ee\u9898\uff0c\u800c\u975e\u9700\u6c42\u51cf\u5f31\u2014\u2014\u8ba2\u5355\u4e0e\u79ef\u538b\u8ba2\u5355\u4f9d\u7136\u5f3a\u52b2\uff0cAI GPU\u76f8\u5173\u5e73\u53f0\u8d21\u732e\u8d8580%\u8425\u6536\uff0c\u4e14Q4\u6307\u5f15\u9690\u542b\u88ab\u63a8\u8fdf\u7684\u9700\u6c42\u5c06\u5728\u4e0b\u4e00\u5b63\u5ea6\u5f00\u59cb\u5151\u73b0\u3002\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u76d8\u540e\u5927\u6da8\u7ea618%\uff0c\u663e\u793a\u5e02\u573a\u66f4\u5173\u6ce8\u5229\u6da6\u7387\u590d\u82cf\u4e0e\u5f3a\u52b2\u524d\u77bb\u6307\u5f15\uff0c\u800c\u975e\u5355\u5b63\u8425\u6536\u7f3a\u53e3\u3002\u4e3b\u8981\u98ce\u9669\u4ecd\u96c6\u4e2d\u5728\u6267\u884c\u53ef\u4fe1\u5ea6\uff1a\u6295\u8d44\u8005\u9700\u770b\u5230\u5ef6\u8fdf\u6536\u5165\u786e\u5b9e\u8f6c\u5316\u3001\u6bdb\u5229\u7387\u7ef4\u6301\u5728\u5f53\u524d\u6c34\u5e73\uff0c\u4e14\u6cd5\u5f8b\u4e0e\u5408\u89c4\u95ee\u9898\u4e0d\u8fdb\u4e00\u6b65\u6269\u5927\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09Q4\u8425\u6536\u80fd\u5426\u987a\u5229\u5b9e\u73b0\uff1b\uff082\uff09\u6bdb\u5229\u7387\u662f\u5426\u5177\u5907\u6301\u7eed\u6027\uff1b\uff083\uff09\u7f8e\u56fd\u4ee5\u5916\u5236\u9020\u4ea7\u80fd\u722c\u5761\u8fdb\u5c55\uff1b\uff084\uff09\u5f3a\u52b2\u79ef\u538b\u8ba2\u5355\u80fd\u5426\u4e3a27\u8d22\u5e74\u5960\u5b9a\u66f4\u6e05\u6670\u3001\u66f4\u53ef\u9884\u6d4b\u7684\u589e\u957f\u57fa\u7840\u3002<strong>26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a27\u7f8e\u5143\u81f340\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Arista Networks, Inc.\u00a0(ANET)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$2.71B,\u00a0+35.5% YoY, beat estimates by $90M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$0.87,\u00a0beat estimates by\u00a0$0.06\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2Q<\/strong><strong>26 Guidance:<\/strong>\u00a02Q26\u00a0revenue\u00a0guided\u00a0to\u00a0about $2.8B and adjusted EPS to about $0.88.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY26 Guidance:\u00a0<\/strong>FY26 revenue outlook was raised to about $11.5B, with AI-related revenue target increased to about $3.5B.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was a strong quarter. Revenue growth remained\u00a0very high, adjusted operating margin held at 47.8%, and cash flow from operations reached $1.69B. The print confirms that Arista is still\u00a0benefiting\u00a0from AI cluster networking, cloud capex, and strong\u00a0hyperscaler\u00a0demand. The issue was expectations rather than execution. Despite the beat, the stock sold off sharply because 2Q26 revenue guidance of about $2.8B was only slightly above expectations, while margin guidance of about 46% to 47% suggested some moderation. The market appears to have wanted a larger upside surprise after a strong run into earnings. The principal variables to monitor are AI revenue conversion,\u00a0hyperscaler\u00a0spending durability, enterprise demand recovery, and whether margins\u00a0remain\u00a0near the current range as mix evolves.\u00a0<strong>2Q26 recommended trading range: $120 to $180. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Arista Networks,\u00a0Inc.\uff08ANET<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>27.1\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f35.5%\uff0c\u8d85\u51fa\u9884\u671f9000\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>0.87\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.06\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u6536\u7ea628\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u7ea60.88\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/strong>\u4e0a\u8c03\u5168\u5e74\u8425\u6536\u5c55\u671b\u81f3\u7ea6115\u4ebf\u7f8e\u5143\uff1bAI\u76f8\u5173\u6536\u5165\u76ee\u6807\u63d0\u5347\u81f3\u7ea635\u4ebf\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u5f3a\u52b2\u3002\u8425\u6536\u4fdd\u6301\u9ad8\u901f\u589e\u957f\uff0c\u8c03\u6574\u540e\u8425\u4e1a\u5229\u6da6\u7387\u7a33\u5b9a\u572847.8%\uff0c\u7ecf\u8425\u6d3b\u52a8\u73b0\u91d1\u6d41\u8fbe16.9\u4ebf\u7f8e\u5143\uff0c\u518d\u6b21\u9a8c\u8bc1\u516c\u53f8\u6b63\u6301\u7eed\u53d7\u76ca\u4e8eAI\u96c6\u7fa4\u7ec4\u7f51\u3001\u4e91\u8d44\u672c\u5f00\u652f\u53ca\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\uff08hyperscaler\uff09\u3002\u7136\u800c\uff0c\u5e02\u573a\u53cd\u5e94\u8d1f\u9762\uff0c\u80a1\u4ef7\u5927\u5e45\u56de\u8c03\uff0c\u4e3b\u56e0\u524d\u77bb\u6307\u5f15\u672a\u8fbe\u9ad8\u6da8\u9884\u671f\uff1aQ2\u8425\u6536\u6307\u5f15\u4ec5\u7565\u8d85\u5171\u8bc6\uff0c\u4e14\u6bdb\u5229\u7387\u6307\u5f15\uff08\u7ea646%\u201347%\uff09\u6697\u793a\u77ed\u671f\u53ef\u80fd\u6e29\u548c\u56de\u843d\u3002\u5728\u8d22\u62a5\u524d\u80a1\u4ef7\u5df2\u5927\u5e45\u4e0a\u6da8\u7684\u80cc\u666f\u4e0b\uff0c\u6295\u8d44\u8005\u671f\u5f85\u66f4\u663e\u8457\u7684\u4e0a\u4fee\u60ca\u559c\uff0c\u800c\u5b9e\u9645\u6307\u5f15\u504f\u7a33\u5065\uff0c\u5bfc\u81f4\u83b7\u5229\u4e86\u7ed3\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09AI\u76f8\u5173\u6536\u5165\u80fd\u5426\u9ad8\u6548\u8f6c\u5316\u4e3a\u786e\u8ba4\u8425\u6536\uff1b\uff082\uff09\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u652f\u51fa\u662f\u5426\u5177\u5907\u6301\u7eed\u6027\uff1b\uff083\uff09\u4f01\u4e1a\u7aef\u9700\u6c42\u80fd\u5426\u56de\u6696\u5f62\u6210\u7b2c\u4e8c\u589e\u957f\u66f2\u7ebf\uff1b\uff084\uff09\u5728\u4ea7\u54c1\u7ec4\u5408\u6f14\u53d8\u8fc7\u7a0b\u4e2d\uff0c\u5229\u6da6\u7387\u80fd\u5426\u7ef4\u6301\u5728\u5f53\u524d\u9ad8\u4f4d\u533a\u95f4\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a120\u7f8e\u5143\u81f3180\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Astera Labs, Inc.\u00a0(ALAB)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$308.36M,\u00a0+93.5% YoY, beat estimates by $16.04M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$0.61,\u00a0beat estimates by\u00a0$0.07\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2Q<\/strong><strong>26 Guidance:<\/strong>\u00a02Q26\u00a0revenue\u00a0guided to $355M\u00a0to $365M and\u00a0adjusted\u00a0EPS to $0.68 to $0.70, both above expectations.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was\u00a0a very strong\u00a0quarter. Revenue rose 14% sequentially and 93% YoY, while gross margin remained high at 76.3% and operating leverage improved materially. The result indicates Astera is still converting AI infrastructure demand into both growth and profitability rather than only backlog expansion. The key positive is product breadth and forward demand. Management highlighted\u00a0strong growth\u00a0in PCIe 6 AI fabric and signal-conditioning\u00a0products, and\u00a0also announced shipments of the new Scorpio X-Series 320-lane AI fabric switch. The Q2 guide implies another step up in revenue and earnings, which supports the view that demand\u00a0remains\u00a0strong across rack-scale AI connectivity. The main issue is valuation and expectations. The stock had already been strong into the print, so the hurdle was high even for a beat-and-raise quarter. The principal variables to monitor are sustained revenue conversion from AI cluster deployments, continued gross-margin resilience as newer products ramp, and whether Astera can broaden customer concentration risk as it scales.\u00a0<strong>2Q26 recommended trading range: $190 to $260. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Astera Labs,\u00a0Inc.\uff08ALAB<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>3.0836\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f93.5%\uff0c\u8d85\u51fa\u9884\u671f1604\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>0.61\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u65363.55\u4ebf\u20133.65\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca0.68\u20130.70\u7f8e\u5143\uff0c\u5747\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u6781\u4e3a\u5f3a\u52b2\u3002\u8425\u6536\u73af\u6bd4\u589e\u957f14%\u3001\u540c\u6bd4\u5927\u589e93%\uff0c\u6bdb\u5229\u7387\u7ef4\u6301\u5728\u9ad8\u4f4d76.3%\uff0c\u8fd0\u8425\u6760\u6746\u663e\u8457\u6539\u5584\uff0c\u5370\u8bc1\u516c\u53f8\u6b63\u5c06AI\u57fa\u7840\u8bbe\u65bd\u9700\u6c42\u5207\u5b9e\u8f6c\u5316\u4e3a\u589e\u957f\u4e0e\u76c8\u5229\uff0c\u800c\u975e\u4ec5\u79ef\u7d2f\u8ba2\u5355\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8e\u4ea7\u54c1\u5e7f\u5ea6\u4e0e\u524d\u77bb\u9700\u6c42\u53ef\u89c1\u6027\uff1a\u7ba1\u7406\u5c42\u5f3a\u8c03PCIe 6 AI\u4e92\u8fde\u67b6\u6784\u4e0e\u4fe1\u53f7\u8c03\u7406\u4ea7\u54c1\u5f3a\u52b2\u589e\u957f\uff0c\u5e76\u5df2\u5f00\u59cb\u51fa\u8d27\u65b0\u4e00\u4ee3Scorpio X-Series 320\u901a\u9053AI\u4e92\u8fde\u4ea4\u6362\u82af\u7247\u3002Q2\u6307\u5f15\u9690\u542b\u6536\u5165\u4e0e\u5229\u6da6\u518d\u4e0a\u53f0\u9636\uff0c\u652f\u6301\u201c\u673a\u67b6\u7ea7AI\u8fde\u63a5\u9700\u6c42\u6301\u7eed\u65fa\u76db\u201d\u7684\u903b\u8f91\u3002\u4e3b\u8981\u6311\u6218\u5728\u4e8e\u4f30\u503c\u4e0e\u9884\u671f\u5df2\u9ad8\uff1a\u8d22\u62a5\u524d\u80a1\u4ef7\u5df2\u6709\u663e\u8457\u6da8\u5e45\uff0c\u5373\u4fbf\u4ea4\u51fa\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u7684\u4f18\u5f02\u6210\u7ee9\uff0c\u5e02\u573a\u53cd\u5e94\u4ecd\u504f\u8c28\u614e\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09AI\u96c6\u7fa4\u90e8\u7f72\u80fd\u5426\u6301\u7eed\u9a71\u52a8\u6536\u5165\u5151\u73b0\uff1b\uff082\uff09\u65b0\u4ea7\u54c1\u653e\u91cf\u8fc7\u7a0b\u4e2d\u6bdb\u5229\u7387\u80fd\u5426\u4fdd\u6301\u97e7\u6027\uff1b\uff083\uff09\u968f\u7740\u89c4\u6a21\u6269\u5927\uff0c\u80fd\u5426\u6709\u6548\u964d\u4f4e\u5ba2\u6237\u96c6\u4e2d\u5ea6\u98ce\u9669\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a190\u7f8e\u5143\u81f3260\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Strategy\u00a0Inc (MSTR)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$124.3M,\u00a0+11.9% YoY,\u00a0miss\u00a0estimates by $0.77M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0GAAP\u00a0EPS<\/strong>:\u00a0-$38.25,\u00a0beat estimates by\u00a0$19.27\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY<\/strong><strong>26 Guidance:<\/strong>\u00a0Management highlighted 9.4% BTC Yield year to date, 213,371 sats per share as of May 2026, and continued emphasis on growing bitcoin per share through capital markets activity.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was a mixed quarter. The software business was a minor positive, with revenue growing to $124.3M, but the reported earnings were dominated by a $14.46B unrealized digital-asset loss, driving an operating loss of $14.47B and net loss of $12.54B. Cash remained sizable at $2.21B as of March 31, 2026, which provides some balance-sheet flexibility despite higher financing obligations. The real focus\u00a0remains\u00a0the bitcoin treasury strategy. Strategy held 818,334 BTC as of May 3, 2026, making it still the largest corporate bitcoin holder by a wide margin. The company also raised\u00a0roughly $11.7B year to date, split\u00a0roughly evenly\u00a0between common equity and preferred instruments, which supports continued bitcoin accumulation but also increases dependence on capital-market access and preferred financing costs. The stock reaction was\u00a0relatively contained\u00a0given the scale of the accounting loss, which suggests investors\u00a0remain\u00a0focused on bitcoin per share growth rather than GAAP earnings volatility. The principal variables to monitor are bitcoin price direction, funding costs on preferred instruments, the company\u2019s ability to remain a net bitcoin acquirer, and whether dilution\u00a0remains\u00a0acceptable\u00a0relative\u00a0to BTC-per-share growth.\u00a0<strong>2Q26 recommended trading range: $150 to $210. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Strategy\u00a0Inc.\uff08MSTR<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>1.243\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f11.9%\uff0c\u7565\u4f4e\u4e8e\u9884\u671f77\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u4e8f\u635f\uff1a<\/strong>38.25\u7f8e\u5143\uff0c\u4f18\u4e8e\u9884\u671f19.27\u7f8e\u5143\uff08\u4e8f\u635f\u6536\u7a84\uff09\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/strong>\u7ba1\u7406\u5c42\u5f3a\u8c032026\u5e74\u81f3\u4eca\u6bd4\u7279\u5e01\uff08BTC\uff09\u6536\u76ca\u7387\u8fbe9.4%\uff1b\u622a\u81f32026\u5e745\u6708\uff0c\u6bcf\u80a1\u6301\u6709213,371\u806a\uff08sats\uff09\uff1b\u91cd\u7533\u901a\u8fc7\u8d44\u672c\u5e02\u573a\u6d3b\u52a8\u6301\u7eed\u63d0\u5347\u201c\u6bcf\u80a1\u6bd4\u7279\u5e01\u201d\u4e3a\u6838\u5fc3\u6218\u7565\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u9ad8\u5ea6\u6df7\u5408\uff0c\u4f46\u7b26\u5408\u5176\u72ec\u7279\u5546\u4e1a\u6a21\u5f0f\u903b\u8f91\u3002\u8f6f\u4ef6\u4e1a\u52a1\u5c0f\u5e45\u589e\u957f\u81f31.243\u4ebf\u7f8e\u5143\uff0c\u6784\u6210\u8f7b\u5fae\u6b63\u9762\u8d21\u732e\uff1b\u7136\u800c\uff0c\u8d22\u62a5\u88ab144.6\u4ebf\u7f8e\u5143\u672a\u5b9e\u73b0\u6570\u5b57\u8d44\u4ea7\u51cf\u503c\u635f\u5931\u4e3b\u5bfc\uff0c\u5bfc\u81f4\u8fd0\u8425\u4e8f\u635f144.7\u4ebf\u7f8e\u5143\u3001\u51c0\u4e8f\u635f125.4\u4ebf\u7f8e\u5143\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c\u516c\u53f8\u4ecd\u6301\u670922.1\u4ebf\u7f8e\u5143\u73b0\u91d1\uff08\u622a\u81f32026\u5e743\u670831\u65e5\uff09\uff0c\u63d0\u4f9b\u4e00\u5b9a\u8d44\u4ea7\u8d1f\u503a\u8868\u7075\u6d3b\u6027\uff0c\u4ee5\u5e94\u5bf9\u65e5\u76ca\u589e\u957f\u7684\u878d\u8d44\u4e49\u52a1\u3002\u771f\u6b63\u7684\u7126\u70b9\u59cb\u7ec8\u662f\u5176\u6bd4\u7279\u5e01\u56fd\u5e93\u6218\u7565\uff1a\u622a\u81f32026\u5e745\u67083\u65e5\uff0c\u516c\u53f8\u6301\u6709818,334\u679aBTC\uff0c\u4ecd\u662f\u5168\u7403\u6301\u6709\u91cf\u6700\u5927\u7684\u4e0a\u5e02\u516c\u53f8\u30022026\u5e74\u8fc4\u4eca\u5df2\u901a\u8fc7\u8d44\u672c\u5e02\u573a\u7b79\u96c6\u7ea6117\u4ebf\u7f8e\u5143\uff08\u666e\u901a\u80a1\u4e0e\u4f18\u5148\u80a1\u5404\u534a\uff09\uff0c\u652f\u6491\u6301\u7eed\u8d2d\u5165\u6bd4\u7279\u5e01\uff0c\u4f46\u4e5f\u52a0\u5267\u4e86\u5bf9\u8d44\u672c\u5e02\u573a\u51c6\u5165\u53ca\u4f18\u5148\u80a1\u878d\u8d44\u6210\u672c\u7684\u4f9d\u8d56\u3002\u5c3d\u7ba1GAAP\u4e8f\u635f\u89c4\u6a21\u5de8\u5927\uff0c\u80a1\u4ef7\u53cd\u5e94\u76f8\u5bf9\u514b\u5236\uff0c\u8868\u660e\u6295\u8d44\u8005\u805a\u7126\u201c\u6bcf\u80a1\u6bd4\u7279\u5e01\u201d\u589e\u957f\uff0c\u800c\u975e\u4f1a\u8ba1\u5229\u6da6\u6ce2\u52a8\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u6bd4\u7279\u5e01\u4ef7\u683c\u8d70\u52bf\uff1b\uff082\uff09\u4f18\u5148\u80a1\u5de5\u5177\u7684\u878d\u8d44\u6210\u672c\uff1b\uff083\uff09\u516c\u53f8\u80fd\u5426\u7ef4\u6301\u51c0\u4e70\u5165BTC\u72b6\u6001\uff1b\uff084\uff09\u80a1\u6743\u7a00\u91ca\u7a0b\u5ea6\u662f\u5426\u5728\u201c\u6bcf\u80a1BTC\u589e\u957f\u201d\u903b\u8f91\u4e0b\u4ecd\u53ef\u88ab\u5e02\u573a\u63a5\u53d7\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a150\u7f8e\u5143\u81f3210\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Navitas Semiconductor Corp. (NVTS)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$8.59M,\u00a0-38.7% YoY, beat estimates by $0.41M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0GAAP\u00a0EPS<\/strong>:\u00a0-$0.15,\u00a0miss\u00a0estimates by\u00a0$0.05\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2Q<\/strong><strong>26 Guidance:<\/strong>\u00a02Q26 revenue guided to $10.0M \u00b1 $0.5M, above consensus expectations, with non-GAAP gross margin expected at 39.0% to 39.5%.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>The quarter was better than feared and showed early signs that the business mix is improving. Revenue grew 18% sequentially to $8.6M, non-GAAP gross margin improved to 39.0% from 38.7% in the prior quarter, and management pointed to stronger contribution from high-power end markets such as AI data\u00a0centers, energy and grid infrastructure, performance computing, and industrial electrification.\u00a0\u00a0The main issue is that the company is still\u00a0very small\u00a0and still in transition. Revenue\u00a0remains\u00a0sharply below the prior year, GAAP gross margin stayed negative at -9.3%, and profitability is still not close to breakeven. The market reaction was positive after the release because investors focused on the sequential recovery and stronger Q2 outlook, but the story\u00a0remains\u00a0heavily dependent on successful execution of the pivot away from legacy mobile exposure toward higher-power applications.\u00a0\u00a0The principal variables to monitor are whether sequential revenue growth continues through the rest of 2026, whether high-power markets become a clear majority of revenue, whether gross margin keeps improving as mix shifts, and whether backlog converts into a more durable scale-up.\u00a0<strong>2Q26 recommended trading range: $14\u00a0to $20. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Navitas Semiconductor\u00a0Corp.\uff08NVTS<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>859\u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u4e0b\u964d38.7%\uff0c\u7565\u8d85\u9884\u671f41\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u4e8f\u635f\uff1a<\/strong>0.15\u7f8e\u5143\uff0c\u4f4e\u4e8e\u9884\u671f0.05\u7f8e\u5143\uff08\u4e8f\u635f\u6269\u5927\uff09\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6307\u5f15\uff1a<\/strong>\u8425\u65361000\u4e07\u7f8e\u5143\uff08\u00b150\u4e07\u7f8e\u5143\uff09\uff0c\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\uff1b\u975eGAAP\u6bdb\u5229\u7387\u9884\u8ba1\u4e3a39.0%\u201339.5%\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u597d\u4e8e\u5e02\u573a\u6700\u60b2\u89c2\u9884\u671f\uff0c\u5e76\u663e\u73b0\u4e1a\u52a1\u7ed3\u6784\u6539\u5584\u7684\u521d\u6b65\u8ff9\u8c61\u3002\u8425\u6536\u73af\u6bd4\u589e\u957f18%\u81f3859\u4e07\u7f8e\u5143\uff0c\u975eGAAP\u6bdb\u5229\u7387\u4ece\u4e0a\u5b63\u5ea6\u768438.7%\u5fae\u5347\u81f339.0%\uff0c\u7ba1\u7406\u5c42\u6307\u51fa\u9ad8\u529f\u7387\u7ec8\u7aef\u5e02\u573a\uff08\u5982AI\u6570\u636e\u4e2d\u5fc3\u3001\u80fd\u6e90\u4e0e\u7535\u7f51\u57fa\u7840\u8bbe\u65bd\u3001\u9ad8\u6027\u80fd\u8ba1\u7b97\u53ca\u5de5\u4e1a\u7535\u6c14\u5316\uff09\u8d21\u732e\u589e\u5f3a\uff0c\u53cd\u6620\u516c\u53f8\u6b63\u9010\u6b65\u6446\u8131\u5bf9\u4f20\u7edf\u79fb\u52a8\u5e02\u573a\u7684\u4f9d\u8d56\u3002\u7136\u800c\uff0c\u516c\u53f8\u4ecd\u5904\u8f6c\u578b\u65e9\u671f\u4e14\u89c4\u6a21\u6781\u5c0f\uff1a\u540c\u6bd4\u8425\u6536\u5927\u5e45\u4e0b\u6ed1\uff0cGAAP\u6bdb\u5229\u7387\u4ecd\u4e3a\u8d1f9.3%\uff0c\u6574\u4f53\u76c8\u5229\u8ddd\u79bb\u76c8\u4e8f\u5e73\u8861\u5c1a\u8fdc\u3002\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u53cd\u5e94\u79ef\u6781\uff0c\u4e3b\u56e0\u6295\u8d44\u8005\u805a\u7126\u73af\u6bd4\u590d\u82cf\u8d8b\u52bf\u4e0eQ2\u66f4\u5f3a\u6307\u5f15\u3002\u4f46\u6545\u4e8b\u6210\u8d25\u9ad8\u5ea6\u4f9d\u8d56\u80fd\u5426\u6210\u529f\u6267\u884c\u5411\u9ad8\u529f\u7387\u5e94\u7528\u7684\u6218\u7565\u8f6c\u578b\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff092026\u5e74\u5269\u4f59\u5b63\u5ea6\u80fd\u5426\u7ef4\u6301\u73af\u6bd4\u6536\u5165\u589e\u957f\uff1b\uff082\uff09\u9ad8\u529f\u7387\u5e02\u573a\u662f\u5426\u6210\u4e3a\u8425\u6536\u7edd\u5bf9\u4e3b\u529b\uff1b\uff083\uff09\u4ea7\u54c1\u7ec4\u5408\u4f18\u5316\u80fd\u5426\u6301\u7eed\u63a8\u52a8\u6bdb\u5229\u7387\u63d0\u5347\uff1b\uff084\uff09\u73b0\u6709\u8ba2\u5355\u79ef\u538b\u80fd\u5426\u8f6c\u5316\u4e3a\u53ef\u6301\u7eed\u7684\u89c4\u6a21\u5316\u589e\u957f\u3002<strong>26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a14\u7f8e\u5143\u81f320\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tempus AI Inc. (TEM)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$348.11M,\u00a0+36.1% YoY, beat estimates by $2.67M.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0-$0.13,\u00a0beat estimates by\u00a0$0.07\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY26 Guidance:\u00a0<\/strong>Raised\u00a0its outlook to $1.59B\u00a0to $1.60B,\u00a0representing\u00a0approximately 25% annual growth. The company\u00a0maintained\u00a0its adjusted EBITDA guidance of approximately $65M\u00a0for the full year.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>Tempus AI reported mixed first-quarter results, with revenue rising 36.1%\u00a0YoY\u00a0to US$348.1mn, slightly ahead of expectations, but losses\u00a0remaining\u00a0a concern as GAAP net loss widened to US$125.9mn. Diagnostics revenue grew 34.7% to US$261.1mn, supported by 28% oncology volume growth, while minimal residual disease testing surged about 500% to\u00a0roughly 6,500\u00a0tests. Data and Applications revenue increased 40.5% to US$87.0mn, showing continued demand for Tempus\u2019 AI-driven healthcare data platform. However, shares fell after full-year revenue guidance of US$1.59bn\u00a0to US$1.60bn\u00a0came in broadly in line with expectations rather than meaningfully above them, while adjusted EBITDA guidance was\u00a0maintained\u00a0at around US$65mn. Looking ahead, Tempus\u00a0remains\u00a0a compelling long-term precision medicine and AI diagnostics story, but investor confidence will depend on whether rapid revenue growth and MRD adoption can translate into clearer operating leverage and sustained profitability.\u00a0<strong>2Q26 recommended trading range: $48\u00a0to $58. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tempus AI\u00a0\u516c\u53f8\u00a0(TEM<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>3.4811\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f36.1%\uff0c\u8d85\u51fa\u9884\u671f2670\u4e07\u7f8e\u5143\u3002\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6<\/strong><strong>Non-GAAP<\/strong><strong>\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>-0.13\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.07\u7f8e\u5143\u3002\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u4e0a\u8c03\u5168\u5e74\u5c55\u671b\u81f315.9\u4ebf\u81f316.0\u4ebf\u7f8e\u5143\uff0c\u9884\u8ba1\u7ea6\u5bf9\u5e9425%\u7684\u5e74\u5ea6\u589e\u957f\u3002\u516c\u53f8\u7ef4\u6301\u5168\u5e74\u8c03\u6574\u540eEBITDA\u6307\u5f15\u7ea66500\u4e07\u7f8e\u5143\u4e0d\u53d8\u3002\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>Tempus AI\u516c\u5e03\u7684\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u8f83\u4e3a\u201c\u51b7\u70ed\u4e0d\u5747\u201d\uff1a\u8425\u6536\u540c\u6bd4\u589e\u957f36.1%\u81f33.481\u4ebf\u7f8e\u5143\uff0c\u7565\u597d\u4e8e\u9884\u671f\uff1b\u4f46\u4e8f\u635f\u4ecd\u662f\u5e02\u573a\u5173\u6ce8\u70b9\u2014\u2014GAAP\u51c0\u4e8f\u635f\u6269\u5927\u81f31.259\u4ebf\u7f8e\u5143\u3002\u8bca\u65ad\u4e1a\u52a1\u8425\u6536\u589e\u957f34.7%\u81f32.611\u4ebf\u7f8e\u5143\uff0c\u53d7\u76ca\u4e8e\u80bf\u7624\u4e1a\u52a1\u91cf\u589e\u957f28%\uff1b\u800c\u201c\u5fae\u5c0f\u6b8b\u7559\u75c5\u7076\uff08MRD\uff09\u201d\u68c0\u6d4b\u5927\u5e45\u98d9\u5347\u7ea6500%\u81f3\u7ea66,500\u9879\u3002\u6570\u636e\u4e0e\u5e94\u7528\uff08Data and Applications\uff09\u8425\u6536\u589e\u957f40.5%\u81f38700\u4e07\u7f8e\u5143\uff0c\u663e\u793aTempus\u57fa\u4e8eAI\u7684\u533b\u7597\u6570\u636e\u5e73\u53f0\u9700\u6c42\u4ecd\u5728\u6301\u7eed\u3002\u4e0d\u8fc7\uff0c\u80a1\u4ef7\u5728\u76d8\u540e\/\u968f\u540e\u4e0b\u8dcc\uff1a\u539f\u56e0\u5728\u4e8e\u5168\u5e74\u8425\u6536\u6307\u5f1515.9\u4ebf\u81f316.0\u4ebf\u7f8e\u5143\u6574\u4f53\u4e0e\u9884\u671f\u57fa\u672c\u4e00\u81f4\uff0c\u5e76\u6ca1\u6709\u663e\u8457\u9ad8\u4e8e\u9884\u671f\uff1b\u540c\u65f6\u8c03\u6574\u540eEBITDA\u6307\u5f15\u4ecd\u7ef4\u6301\u5728\u7ea66500\u4e07\u7f8e\u5143\u3002\u5c55\u671b\u672a\u6765\uff0cTempus\u5728\u957f\u671f\u201c\u7cbe\u51c6\u533b\u7597+AI\u8bca\u65ad\u201d\u7684\u6545\u4e8b\u4e0a\u4ecd\u5177\u5438\u5f15\u529b\uff0c\u4f46\u6295\u8d44\u8005\u4fe1\u5fc3\u5c06\u53d6\u51b3\u4e8e\uff1a\u80fd\u5426\u5c06\u5feb\u901f\u7684\u8425\u6536\u589e\u957f\u548cMRD\u6e17\u900f\uff0c\u8fdb\u4e00\u6b65\u8f6c\u5316\u4e3a\u66f4\u6e05\u6670\u7684\u8fd0\u8425\u6760\u6746\uff0c\u5e76\u5b9e\u73b0\u6301\u7eed\u76c8\u5229\u3002<strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/strong><strong>48<\/strong><strong>\u7f8e\u5143\u81f3<\/strong><strong>58<\/strong><strong>\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/strong><strong>\u3002<\/strong><\/li>\n<\/ul>\n\n\n\n<div 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(SHOP)\u00a0 Shopify\u00a0Inc.\uff08SHOP)\u00a0 PayPal Holdings, Inc. (PYPL)\u00a0 PayPal Holdings,\u00a0Inc.\uff08PYPL)\u00a0 KKR [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-88615","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/www.kgieworld.sg\/research\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"United States | Singapore | Hong Kong | Earnings General Dynamics Corporation\u00a0(GD\u00a0US) Universal Safety Products, Inc\u00a0(UUU\u00a0US)\u00a0 ^ Back To Top Aoxin\u00a0Q&M Dental Group Ltd.\u00a0(AOXIN\u00a0SP)\u00a0 Trendlines Group Ltd.\u00a0(TTGL\u00a0SP)\u00a0 ^ Back To Top KE Holdings,\u00a0Inc.\u00a0(2423\u00a0HK) China Overseas Land & Investment Ltd (688\u00a0HK)\u00a0 ^ Back To Top Shopify Inc. (SHOP)\u00a0 Shopify\u00a0Inc.\uff08SHOP)\u00a0 PayPal Holdings, Inc. (PYPL)\u00a0 PayPal Holdings,\u00a0Inc.\uff08PYPL)\u00a0 KKR&hellip;","_links":{"self":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/88615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/comments?post=88615"}],"version-history":[{"count":0,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/88615\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/media?parent=88615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/categories?post=88615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/tags?post=88615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}