{"id":92842,"date":"2026-07-29T08:00:58","date_gmt":"2026-07-29T00:00:58","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=92842"},"modified":"2026-07-29T11:22:42","modified_gmt":"2026-07-29T03:22:42","slug":"technical-analysis-29-july-2026","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-29-july-2026\/","title":{"rendered":"Technical Analysis: 29 July 2026"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"92842\" class=\"elementor elementor-92842\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7de8b58c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7de8b58c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-327eb9a6\" data-id=\"327eb9a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3580cd48 elementor-widget elementor-widget-heading\" data-id=\"3580cd48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">TECHNICAL ANALYSIS<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76fb0d42 elementor-widget elementor-widget-heading\" data-id=\"76fb0d42\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Technical Analysis: 29 July 2026<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-78cfe52b elementor-widget elementor-widget-text-editor\" data-id=\"78cfe52b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-family: Montserrat; font-size: 13px; font-weight: 600; background: #e8f4ff; padding: 12px 18px; border-radius: 0px; margin-top: 16px;\"><span style=\"color: #15a4ff;\"><span style=\"text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\"><a href=\"#sp\">SINGAPORE<\/a><\/span><\/span> \u00a0|\u00a0 <span style=\"color: #15a4ff;\"><span style=\"text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\"><a href=\"#hk\">HONG KONG<\/a><\/span><\/span> \u00a0|\u00a0 <span style=\"color: #15a4ff;\"><span style=\"text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\"><a href=\"#us\">UNITED STATES<\/a>\u00a0\u00a0<\/span><\/span>|<span style=\"color: #15a4ff;\">\u00a0\u00a0<\/span><a style=\"background-color: #e8f4ff;\" href=\"#er\">EARNINGS<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5fd542a2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5fd542a2\" data-element_type=\"section\" data-e-type=\"section\" id=\"sg\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7d1bf575\" data-id=\"7d1bf575\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3d6ff210 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"3d6ff210\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Singapore<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-211acbef e-flex e-con-boxed e-con e-parent\" data-id=\"211acbef\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-caa650a e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"caa650a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d889dd6 elementor-widget elementor-widget-text-editor\" data-id=\"d889dd6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding-top: 0px; padding-right: 15px; padding-bottom: 0px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">THBEV SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Thai Beverage Public Co., Ltd<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05a679f elementor-widget elementor-widget-text-editor\" data-id=\"05a679f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">Shares closed above the 5dEMA\u00a0with an increase in volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Buy \u2013 Entry\u00a00.44, Target\u00a00.50, Stop\u00a00.41<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3848921 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3848921\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e0c58a elementor-widget elementor-widget-image\" data-id=\"5e0c58a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1682\" height=\"1000\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.53.46-PM.png\" class=\"attachment-full size-full wp-image-92867\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.53.46-PM.png 1682w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.53.46-PM-300x178.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.53.46-PM-1024x609.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.53.46-PM-768x457.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.53.46-PM-1536x913.png 1536w\" sizes=\"(max-width: 1682px) 100vw, 1682px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-04e9bfc e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"04e9bfc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-55d7169 elementor-widget elementor-widget-text-editor\" data-id=\"55d7169\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">PROP SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">PropNex Ltd.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc8b150 elementor-widget elementor-widget-text-editor\" data-id=\"cc8b150\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><span data-contrast=\"none\">Shares closed above the 5dEMA\u00a0with rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Buy \u2013 Entry\u00a01.84, Target\u00a02.30, Stop\u00a01.61<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f6c763 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5f6c763\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a7904c elementor-widget elementor-widget-image\" data-id=\"2a7904c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1682\" height=\"996\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.00-PM.png\" class=\"attachment-full size-full wp-image-92868\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.00-PM.png 1682w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.00-PM-300x178.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.00-PM-1024x606.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.00-PM-768x455.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.00-PM-1536x910.png 1536w\" sizes=\"(max-width: 1682px) 100vw, 1682px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-59bbfb01 e-flex e-con-boxed e-con e-parent\" data-id=\"59bbfb01\" data-element_type=\"container\" data-e-type=\"container\" id=\"hk\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-48ad8487 e-con-full e-flex e-con e-child\" data-id=\"48ad8487\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6496da02 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"6496da02\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Hong Kong<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0b714db e-flex e-con-boxed e-con e-parent\" data-id=\"0b714db\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-e845b60 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"e845b60\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0a08a42 elementor-widget elementor-widget-text-editor\" data-id=\"0a08a42\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">322 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Tingyi (Cayman Islands) Holding Corp.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8424634 elementor-widget elementor-widget-text-editor\" data-id=\"8424634\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed above the\u00a0100dEMA.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long\u00a0<\/span><\/b><span data-contrast=\"auto\">\u2013\u00a0<\/span><b><span data-contrast=\"auto\">Entry\u00a011.4,\u00a0Target\u00a013.5,\u00a0Stop\u00a010.4<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ca8642 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8ca8642\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6063494 elementor-widget elementor-widget-image\" data-id=\"6063494\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1674\" height=\"1014\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.42-PM.png\" class=\"attachment-full size-full wp-image-92869\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.42-PM.png 1674w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.42-PM-300x182.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.42-PM-1024x620.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.42-PM-768x465.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.58.42-PM-1536x930.png 1536w\" sizes=\"(max-width: 1674px) 100vw, 1674px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-796d6d3 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"796d6d3\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ca1d82b elementor-widget elementor-widget-text-editor\" data-id=\"ca1d82b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">2319 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">China Mengniu Diary Company Limited<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42f415e elementor-widget elementor-widget-text-editor\" data-id=\"42f415e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares\u00a0closed above\u00a0the\u00a05dEMA.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">RSI and MACD is constructive.\u00a0<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry\u00a018.3, Target\u00a020.8, Stop\u00a017<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48f64b5 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"48f64b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b46392 elementor-widget elementor-widget-image\" data-id=\"7b46392\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1678\" height=\"1012\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.59.29-PM.png\" class=\"attachment-full size-full wp-image-92870\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.59.29-PM.png 1678w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.59.29-PM-300x181.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.59.29-PM-1024x618.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.59.29-PM-768x463.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-28-at-11.59.29-PM-1536x926.png 1536w\" sizes=\"(max-width: 1678px) 100vw, 1678px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ec83e44 e-flex e-con-boxed e-con e-parent\" data-id=\"ec83e44\" data-element_type=\"container\" data-e-type=\"container\" id=\"us\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2a2d5e8f e-con-full e-flex e-con e-child\" data-id=\"2a2d5e8f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d298853 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"d298853\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">United States<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a4bba78 e-flex e-con-boxed e-con e-parent\" data-id=\"a4bba78\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-49fcacc9 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"49fcacc9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d277b15 elementor-widget elementor-widget-text-editor\" data-id=\"1d277b15\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">GRMN US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Garmin Ltd.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a4d3e66 elementor-widget elementor-widget-text-editor\" data-id=\"6a4d3e66\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed\u00a0above\u00a0the\u00a05dEMA\u00a0with elevated volume.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"15\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry\u00a0240,\u00a0Target\u00a0270,\u00a0Stop\u00a0225<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-179691ff elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"179691ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38985d1d elementor-widget elementor-widget-image\" data-id=\"38985d1d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"2052\" height=\"1228\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM.png\" class=\"attachment-full size-full wp-image-92895\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM.png 2052w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM-300x180.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM-1024x613.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM-768x460.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM-1536x919.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.19.32-AM-2048x1226.png 2048w\" sizes=\"(max-width: 2052px) 100vw, 2052px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-47db7ac5 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"47db7ac5\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8e69be9 elementor-widget elementor-widget-text-editor\" data-id=\"8e69be9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">ARLO US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Arlo Technologies, Inc.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31bab0f1 elementor-widget elementor-widget-text-editor\" data-id=\"31bab0f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed\u00a0above\u00a0the\u00a05dEMA\u00a0with increasing volume.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry\u00a014.00,\u00a0Target\u00a016.50,\u00a0Stop\u00a012.75<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d3c72a2 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2d3c72a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73aec530 elementor-widget elementor-widget-image\" data-id=\"73aec530\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"2052\" height=\"1222\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM.png\" class=\"attachment-full size-full wp-image-92896\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM.png 2052w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM-1024x610.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM-768x457.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM-1536x915.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/07\/Screenshot-2026-07-29-at-11.20.00-AM-2048x1220.png 2048w\" sizes=\"(max-width: 2052px) 100vw, 2052px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a0c420a e-con e-atomic-element e-flexbox-base e-1a0c420a-108c1cb \" data-id=\"1a0c420a\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"1a0c420a\" data-e-type=\"e-flexbox\" data-id=\"1a0c420a\">\n    \t\t\t<p class=\"e-32092b11-15817bd e-paragraph-base\" data-interaction-id=\"32092b11\" data-e-type=\"widget\" data-id=\"32092b11\"><a target=\"_self\" href=\"#top\" id=\"e-mq4jsug1-z6kdzol\">^ Back to Top<\/a><\/p>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-30f27d76 e-flex e-con-boxed e-con e-parent\" data-id=\"30f27d76\" data-element_type=\"container\" data-e-type=\"container\" id=\"er\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ad2646f e-con-full e-flex e-con e-child\" data-id=\"ad2646f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-50b50a35 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"50b50a35\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Earnings<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-39b0c2cc e-flex e-con-boxed elementor-invisible e-con e-parent\" data-id=\"39b0c2cc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_tablet&quot;:&quot;fadeInUp&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-297187d6 elementor-widget elementor-widget-text-editor\" data-id=\"297187d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">PayPal Holdings, Inc. (PYPL)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$8.7B<\/span><span data-contrast=\"auto\">,\u00a0+4.8% YoY,\u00a0beat\u00a0estimates\u00a0by\u00a0<\/span><span data-contrast=\"auto\">$230M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">\u202f$1.38,\u00a0beat\u00a0estimates\u00a0by\u202f$0.10<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised FY26 non-GAAP EPS guidance to approximately US$5.38 from US$5.31. Management also expects transaction margin dollars of approximately US$15.6B, reflecting continued progress in its turnaround initiatives.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks:<\/span><\/b><span data-contrast=\"auto\">\u00a0Repurchased approximately US$1.5B of shares during the quarter and paid approximately US$125M in dividends.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was a solid beat-and-raise quarter. TPV grew 9%, Venmo continued to improve, branded checkout remained stable at 2% growth, Buy Now Pay Later volumes increased\u00a026%, and\u00a0tap-to-pay adoption grew more than 60%. The turnaround strategy is beginning to translate into better payment volume growth and improving profitability. The key issue remains margin quality. Non-GAAP operating margin declined to 17.4% from 19.8% a year ago as PayPal accelerated investments in AI, marketing and product development while executing a multi-year transformation programme expected to generate approximately US$400M of savings during 2026. In addition, ongoing takeover speculation involving a reported bid from Stripe and Advent International continues to create uncertainty around the long-term strategic direction. Shares rose roughly 4% following the earnings release. The principal variables to monitor are branded checkout growth, Venmo monetisation, transaction margin expansion, AI-driven product adoption, and whether cost savings begin to offset elevated investment spending.\u00a0<\/span><b><span data-contrast=\"auto\">1Q27\u00a0recommended trading range: $50\u00a0to $70.\u00a0Neutral\u00a0Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">PayPal Holdings, Inc.\uff08PYPL<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">87<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">4.8%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">2.3<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">1.38<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.10<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\u4e0a\u8c03\uff1a<\/span><\/b><span data-contrast=\"auto\">\u975e<\/span><span data-contrast=\"auto\">GAAP EPS<\/span><span data-contrast=\"auto\">\u6307\u5f15\u63d0\u5347\u81f3\u7ea6<\/span><span data-contrast=\"auto\">5.38<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff08\u539f\u4e3a<\/span><span data-contrast=\"auto\">5.31<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff09\uff1b\u9884\u8ba1\u4ea4\u6613\u6bdb\u5229\uff08<\/span><span data-contrast=\"auto\">transaction margin dollars\uff09<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u56de\u8d2d\u7ea6<\/span><span data-contrast=\"auto\">15<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u80a1\u7968\uff0c\u652f\u4ed8\u7ea6<\/span><span data-contrast=\"auto\">1.25<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u80a1\u606f<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u4e3a\u7a33\u5065\u7684\u201c\u8d85\u9884\u671f<\/span><span data-contrast=\"auto\">+<\/span><span data-contrast=\"auto\">\u4e0a\u8c03\u6307\u5f15\u201d\u8868\u73b0\uff0c\u6807\u5fd7\u5176\u8f6c\u578b\u6218\u7565\u521d\u89c1\u6210\u6548\u3002\u603b\u652f\u4ed8\u989d\uff08<\/span><span data-contrast=\"auto\">TPV\uff09\uff0cVenmo<\/span><span data-contrast=\"auto\">\u4e1a\u52a1\u6301\u7eed\u6539\u5584\uff0c\u5148\u4e70\u540e\u4ed8\uff08<\/span><span data-contrast=\"auto\">BNPL\uff09\uff0cTap-to-Pay<\/span><span data-contrast=\"auto\">\u7ebf\u4e0b\u652f\u4ed8\u91c7\u7528\u7387\u589e\u957f\u8d85<\/span><span data-contrast=\"auto\">60%<\/span><span data-contrast=\"auto\">\uff0c\u663e\u793a\u4ea7\u54c1\u521b\u65b0\u4e0e\u7528\u6237\u53c2\u4e0e\u5ea6\u6b63\u5728\u56de\u5347\u3002\u5c3d\u7ba1\u54c1\u724c\u7ed3\u8d26\uff08<\/span><span data-contrast=\"auto\">branded checkout<\/span><span data-contrast=\"auto\">\uff09\uff0c\u4f46\u6574\u4f53\u652f\u4ed8\u751f\u6001\u5c55\u73b0\u97e7\u6027\u3002\u7136\u800c\uff0c\u76c8\u5229\u8d28\u91cf\u4ecd\u662f\u7126\u70b9\u95ee\u9898\uff1a\u975e<\/span><span data-contrast=\"auto\">GAAP<\/span><span data-contrast=\"auto\">\u8fd0\u8425\u5229\u6da6\u7387\u4ece\u53bb\u5e74\u540c\u671f\u7684<\/span><span data-contrast=\"auto\">19.8%<\/span><span data-contrast=\"auto\">\u4e0b\u6ed1\u81f3<\/span><span data-contrast=\"auto\">17.4%<\/span><span data-contrast=\"auto\">\uff0c\u4e3b\u56e0\u516c\u53f8\u6b63\u52a0\u901f\u6295\u5165<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u3001\u8425\u9500\u53ca\u65b0\u4ea7\u54c1\u5f00\u53d1\uff0c\u540c\u65f6\u63a8\u8fdb\u4e00\u9879\u591a\u5e74\u671f\u8f6c\u578b\u8ba1\u5212\uff08\u9884\u8ba1<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74\u4ea7\u751f\u7ea6<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u6210\u672c\u8282\u7ea6\uff09\u3002\u5f53\u524d\u5904\u4e8e\u201c\u4ee5\u6295\u8d44\u6362\u589e\u957f\u201d\u9636\u6bb5\uff0c\u77ed\u671f\u5229\u6da6\u627f\u538b\u3002\u6b64\u5916\uff0c\u5e02\u573a\u6301\u7eed\u4f20\u95fb<\/span><span data-contrast=\"auto\">Stripe<\/span><span data-contrast=\"auto\">\u4e0e<\/span><span data-contrast=\"auto\">Advent International<\/span><span data-contrast=\"auto\">\u8054\u5408\u63d0\u51fa\u6536\u8d2d\u8981\u7ea6\uff0c\u867d\u672a\u83b7\u8bc1\u5b9e\uff0c\u4f46\u52a0\u5267\u4e86\u6295\u8d44\u8005\u5bf9<\/span><span data-contrast=\"auto\">PayPal<\/span><span data-contrast=\"auto\">\u957f\u671f\u6218\u7565\u8def\u5f84\u7684\u4e0d\u786e\u5b9a\u6027\u2014\u2014\u662f\u72ec\u7acb\u8f6c\u578b\uff0c\u8fd8\u662f\u6210\u4e3a\u5e76\u8d2d\u6807\u7684\uff1f\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">4%<\/span><span data-contrast=\"auto\">\uff0c\u53cd\u6620\u5e02\u573a\u5bf9\u57fa\u672c\u9762\u6539\u5584\u7684\u8ba4\u53ef\uff0c\u4f46\u4f30\u503c\u4ecd\u53d7\u5236\u4e8e\u5229\u6da6\u7387\u538b\u529b\u4e0e\u6218\u7565\u6a21\u7cca\u6027\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u54c1\u724c\u7ed3\u8d26\u80fd\u5426\u91cd\u56de\u589e\u957f\u8f68\u9053\uff1b\uff08<\/span><span data-contrast=\"auto\">2\uff09Venmo<\/span><span data-contrast=\"auto\">\u53d8\u73b0\u6548\u7387\uff08\u5e7f\u544a\u3001\u8ba2\u9605\u3001\u91d1\u878d\u4ea7\u54c1\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u4ea4\u6613\u6bdb\u5229\u80fd\u5426\u5728\u89c4\u6a21\u6548\u5e94\u4e0b\u6269\u5f20\uff1b\uff08<\/span><span data-contrast=\"auto\">4\uff09AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u7684\u65b0\u529f\u80fd\uff08\u5982\u667a\u80fd\u63a8\u8350\u3001\u6b3a\u8bc8\u9632\u63a7\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">5\uff092026<\/span><span data-contrast=\"auto\">\u5e74<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u6210\u672c\u8282\u7ea6\u662f\u5426\u5982\u671f\u5151\u73b0\uff0c\u62b5\u6d88\u9ad8\u6295\u5165\u5f71\u54cd\u3002<\/span><span data-contrast=\"auto\">PayPal<\/span><span data-contrast=\"auto\">\u6b63\u52aa\u529b\u91cd\u5851\u5176\u4f5c\u4e3a\u6570\u5b57\u652f\u4ed8\u6838\u5fc3\u5e73\u53f0\u7684\u5730\u4f4d\uff0c\u5728<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u4e0e\u7ebf\u4e0b\u573a\u666f\u62d3\u5c55\u4e2d\u5177\u5907\u6f5c\u529b\uff0c\u4f46\u9700\u8bc1\u660e\u5176\u80fd\u5728\u7ade\u4e89\u6fc0\u70c8\u7684\u652f\u4ed8\u751f\u6001\u4e2d\u5b9e\u73b0\u53ef\u6301\u7eed\u7684\u76c8\u5229\u589e\u957f\u3002<\/span><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">50<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">70<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">The Boeing Company (BA)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$24.6B<\/span><span data-contrast=\"auto\">,\u00a0+8.4% YoY,\u00a0beat\u00a0estimates by $330M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0&#8211;<\/span><span data-contrast=\"auto\">$0.76,\u00a0miss\u00a0estimates\u00a0by $0.45<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Boeing maintained FY26 free cash flow guidance of US$1B\u2013US$3B. Management reaffirmed plans to increase 737 MAX production to 47 aircraft per month, targeting 57 per month by early 2027, while continuing certification work for the 737-7, 737-10 and 777X programmes. Total backlog reached a record US$715B, including more than 6,200 commercial aircraft.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was an encouraging operational quarter despite another accounting loss. Commercial deliveries continued to recover, free cash flow turned positive at US$631M, and operating cash flow improved to US$1.36B. Commercial Airplanes and\u00a0Defense\u00a0both reported stronger revenue, while production stability continued to improve under CEO Kelly Ortberg&#8217;s turnaround plan. The primary weakness remains the defence business. Boeing recorded an additional US$280M charge on the Air Force One (VC-25B) programme, contributing to another quarterly loss. Certification timing for the 737 MAX variants and 777X, supplier execution, and engine availability also remain key operational risks. Nevertheless, investors focused on improving cash generation, higher delivery rates and the record backlog rather than the earnings miss. Shares rose approximately 4.8%\u20135.0% following the results. The principal variables to monitor are sustained 737 MAX production increases, certification milestones for new aircraft programmes, defence programme execution, supplier stability, and continued free cash flow improvement.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $200\u00a0to $260.\u00a0Neutral\u00a0Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">\u6ce2\u97f3\u516c\u53f8\uff08BA<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">246<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">8.4%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">3.3<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u4e8f\u635f\uff1a<\/span><\/b><span data-contrast=\"auto\">0.76<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4f4e\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">0.45<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff08\u4e8f\u635f\u6269\u5927\uff09<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u7ef4\u6301\u81ea\u7531\u73b0\u91d1\u6d41<\/span><span data-contrast=\"auto\">10<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">30<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u6307\u5f15\uff1b\u8ba1\u5212\u5c06<\/span><span data-contrast=\"auto\">737 MAX<\/span><span data-contrast=\"auto\">\u4ea7\u91cf\u63d0\u5347\u81f3\u6bcf\u6708<\/span><span data-contrast=\"auto\">47<\/span><span data-contrast=\"auto\">\u67b6\uff0c\u76ee\u6807<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u5e74\u521d\u8fbe<\/span><span data-contrast=\"auto\">57<\/span><span data-contrast=\"auto\">\u67b6<\/span><span data-contrast=\"auto\">\/<\/span><span data-contrast=\"auto\">\u6708\uff1b\u6301\u7eed\u63a8\u8fdb<\/span><span data-contrast=\"auto\">737-7\u3001737-10<\/span><span data-contrast=\"auto\">\u548c<\/span><span data-contrast=\"auto\">777X<\/span><span data-contrast=\"auto\">\u673a\u578b\u8ba4\u8bc1\uff1b\u79ef\u538b\u8ba2\u5355\u521b\u7eaa\u5f55\u8fbe<\/span><span data-contrast=\"auto\">7150<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff08\u542b\u8d85<\/span><span data-contrast=\"auto\">6200<\/span><span data-contrast=\"auto\">\u67b6\u5546\u7528\u98de\u673a\uff09<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8fd0\u8425\u8868\u73b0\u5448\u73b0\u201c\u73b0\u91d1\u6539\u5584\u3001\u76c8\u5229\u627f\u538b\u201d\u7684\u5206\u5316\u683c\u5c40\u3002\u5c3d\u7ba1\u518d\u5ea6\u5f55\u5f97\u4f1a\u8ba1\u4e8f\u635f\uff0c\u4f46\u81ea\u7531\u73b0\u91d1\u6d41\u8f6c\u6b63\u81f3<\/span><span data-contrast=\"auto\">6.31<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u7ecf\u8425\u6027\u73b0\u91d1\u6d41\u8fbe<\/span><span data-contrast=\"auto\">13.6<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u663e\u793a\u751f\u4ea7\u4e0e\u4ea4\u4ed8\u6548\u7387\u6301\u7eed\u6062\u590d\u3002\u5546\u7528\u98de\u673a\u4e0e\u9632\u52a1\u4e1a\u52a1\u6536\u5165\u5747\u589e\u957f\uff0c<\/span><span data-contrast=\"auto\">737 MAX<\/span><span data-contrast=\"auto\">\u4ea4\u4ed8\u7a33\u6b65\u722c\u5761\uff0c<\/span><span data-contrast=\"auto\">CEO Kelly Ortberg<\/span><span data-contrast=\"auto\">\u7684\u626d\u4e8f\u4e3a\u76c8\u8ba1\u5212\u521d\u89c1\u6210\u6548\u3002\u7136\u800c\uff0c\u9632\u52a1\u677f\u5757\u4ecd\u662f\u62d6\u7d2f\u4e3b\u56e0\uff1a\u516c\u53f8\u5bf9\u7a7a\u519b\u4e00\u53f7\uff08<\/span><span data-contrast=\"auto\">VC-25B<\/span><span data-contrast=\"auto\">\uff09\u9879\u76ee\u518d\u8ba1\u63d0<\/span><span data-contrast=\"auto\">2.8<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u8d39\u7528\uff0c\u52a0\u5267\u5b63\u5ea6\u4e8f\u635f\u3002\u6b64\u5916\uff0c<\/span><span data-contrast=\"auto\">737 MAX<\/span><span data-contrast=\"auto\">\u884d\u751f\u578b\u53f7\uff08<\/span><span data-contrast=\"auto\">-7\/-10<\/span><span data-contrast=\"auto\">\uff09\u53ca<\/span><span data-contrast=\"auto\">777X<\/span><span data-contrast=\"auto\">\u7684\u8ba4\u8bc1\u8fdb\u5ea6\u3001\u4f9b\u5e94\u94fe\u7a33\u5b9a\u6027\u3001\u53d1\u52a8\u673a\u4f9b\u5e94\u4ecd\u662f\u5173\u952e\u6267\u884c\u98ce\u9669\u3002\u5e02\u573a\u53cd\u5e94\u79ef\u6781\u2014\u2014\u80a1\u4ef7\u4e0a\u6da8<\/span><span data-contrast=\"auto\">4.8%\u20135.0%<\/span><span data-contrast=\"auto\">\uff0c\u53cd\u6620\u6295\u8d44\u8005\u66f4\u770b\u91cd\u73b0\u91d1\u6d41\u62d0\u70b9\u3001\u4ea4\u4ed8\u56de\u5347\u4e0e\u521b\u7eaa\u5f55<\/span><span data-contrast=\"auto\">\u00a0backlog\u00a0<\/span><span data-contrast=\"auto\">\u6240\u63d0\u4f9b\u7684\u957f\u671f\u80fd\u89c1\u5ea6\uff0c\u800c\u975e\u77ed\u671f\u76c8\u5229\u6ce2\u52a8\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1\uff09737 MAX<\/span><span data-contrast=\"auto\">\u4ea7\u80fd\u80fd\u5426\u7a33\u5b9a\u63d0\u5347\u81f3<\/span><span data-contrast=\"auto\">47+\/<\/span><span data-contrast=\"auto\">\u6708\uff1b\uff08<\/span><span data-contrast=\"auto\">2\uff09737-10<\/span><span data-contrast=\"auto\">\u7b49\u65b0\u673a\u578b\u80fd\u5426\u5982\u671f\u83b7<\/span><span data-contrast=\"auto\">FAA<\/span><span data-contrast=\"auto\">\u8ba4\u8bc1\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u9632\u52a1\u9879\u76ee\u6210\u672c\u63a7\u5236\u662f\u5426\u6539\u5584\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u4f9b\u5e94\u5546\u80fd\u5426\u4fdd\u969c\u96f6\u90e8\u4ef6\u53ca\u65f6\u4ea4\u4ed8\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u81ea\u7531\u73b0\u91d1\u6d41\u80fd\u5426\u5728<\/span><span data-contrast=\"auto\">H2<\/span><span data-contrast=\"auto\">\u6301\u7eed\u4e3a\u6b63\u5e76\u652f\u6491\u5168\u5e74\u76ee\u6807\u3002\u6ce2\u97f3\u6b63\u5904\u4e8e\u4ece\u591a\u5e74\u5371\u673a\u4e2d\u590d\u82cf\u7684\u5173\u952e\u9636\u6bb5\uff0c\u57fa\u672c\u9762\u8d8b\u52bf\u5411\u597d\uff0c\u4f46\u76c8\u5229\u4fee\u590d\u4ecd\u9700\u65f6\u95f4\u3002\u82e5\u751f\u4ea7\u4e0e\u8ba4\u8bc1\u987a\u5229\u63a8\u8fdb\uff0c\u6709\u671b\u9010\u6b65\u91cd\u83b7\u5e02\u573a\u4fe1\u4efb\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">200<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">260<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">The Coca-Cola Company (KO)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$13.4B<\/span><span data-contrast=\"auto\">,\u00a0+7.2% YoY,\u00a0beat\u00a0estimates by $230M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$0.97, beat estimates by $0.04<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised FY26 organic-revenue guidance to approximately 5% growth from 4%\u20135%. Comparable currency-neutral EPS growth was upgraded to 7%\u20138% from 6%\u20137%, while comparable reported EPS is now expected to increase 9%\u201310%, versus 8%\u20139% previously. Free-cash-flow guidance increased to approximately US$12.4B.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks:<\/span><\/b><span data-contrast=\"auto\">\u00a0Declared a quarterly dividend of US$0.53 per share, payable on 1 October 2026 to shareholders of record on 15 September.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was a strong beat-and-raise quarter. Global unit-case volume increased 5%, led by India, China, the U.S. and Brazil, while Trademark Coca-Cola volume rose 5% and Coca-Cola Zero Sugar increased 16%. North America delivered 7% organic revenue growth and 12% comparable currency-neutral operating-income growth, demonstrating healthy pricing and operating leverage. The principal concern is the sustainability of volume growth after the World Cup marketing boost. Asia-Pacific price\/mix declined 9%, and Coca-Cola lost regional value share as gains in China and Japan were outweighed by weakness in India. Higher aluminium, plastic and other input costs also remain potential margin headwinds. Shares rose approximately 5% after the results, reflecting the earnings beat and upgraded outlook. The key variables are post-World Cup volume retention, affordability initiatives in emerging markets, commodity-cost inflation and continued North\u00a0American margin expansion.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26\u00a0recommended trading range: $78\u00a0to $98.\u00a0Neutral\u00a0Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">The Coca-Cola Company\uff08KO<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">134<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">7.2%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">2.3<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.97<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.04<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\u5168\u9762\u4e0a\u8c03\uff1a<\/span><\/b><span data-contrast=\"auto\">\u6709\u673a\u6536\u5165\u589e\u957f\u6307\u5f15\u63d0\u5347\u81f3\u7ea6<\/span><span data-contrast=\"auto\">5%<\/span><span data-contrast=\"auto\">\uff08\u539f\u4e3a<\/span><span data-contrast=\"auto\">4%\u20135%<\/span><span data-contrast=\"auto\">\uff09\uff1b\u53ef\u6bd4\u6c47\u7387\u4e2d\u6027<\/span><span data-contrast=\"auto\">EPS<\/span><span data-contrast=\"auto\">\u589e\u957f\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">7%\u20138%<\/span><span data-contrast=\"auto\">\uff08\u539f\u4e3a<\/span><span data-contrast=\"auto\">6%\u20137%<\/span><span data-contrast=\"auto\">\uff09\uff1b\u53ef\u6bd4\u62a5\u544a<\/span><span data-contrast=\"auto\">EPS<\/span><span data-contrast=\"auto\">\u589e\u957f\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">9%\u201310%<\/span><span data-contrast=\"auto\">\uff08\u539f\u4e3a<\/span><span data-contrast=\"auto\">8%\u20139%<\/span><span data-contrast=\"auto\">\uff09\uff1b\u81ea\u7531\u73b0\u91d1\u6d41\u6307\u5f15\u63d0\u5347\u81f3\u7ea6<\/span><span data-contrast=\"auto\">124<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5ba3\u5e03\u5b63\u5ea6\u80a1\u606f\u6bcf\u80a1<\/span><span data-contrast=\"auto\">0.53<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74<\/span><span data-contrast=\"auto\">10<\/span><span data-contrast=\"auto\">\u6708<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\u65e5\u652f\u4ed8<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8868\u73b0\u5f3a\u52b2\uff0c\u4e3a\u5178\u578b\u7684\u201c\u8d85\u9884\u671f<\/span><span data-contrast=\"auto\">+<\/span><span data-contrast=\"auto\">\u5168\u9762\u4e0a\u8c03\u6307\u5f15\u201d\u7ec4\u5408\u3002\u5168\u7403\u9500\u91cf\u589e\u957f<\/span><span data-contrast=\"auto\">5%<\/span><span data-contrast=\"auto\">\uff0c\u7531\u5370\u5ea6\u3001\u4e2d\u56fd\u3001\u7f8e\u56fd\u548c\u5df4\u897f\u9a71\u52a8\uff1b\u6838\u5fc3\u54c1\u724c<\/span><span data-contrast=\"auto\">Coca-Cola<\/span><span data-contrast=\"auto\">\u9500\u91cf\u589e\u957f<\/span><span data-contrast=\"auto\">5%<\/span><span data-contrast=\"auto\">\uff0c\u96f6\u7cd6\u4ea7\u54c1\u5927\u589e<\/span><span data-contrast=\"auto\">16%<\/span><span data-contrast=\"auto\">\uff0c\u663e\u793a\u4ea7\u54c1\u7ec4\u5408\u5347\u7ea7\u4e0e\u5065\u5eb7\u5316\u8d8b\u52bf\u6301\u7eed\u63a8\u8fdb\u3002\u5317\u7f8e\u5e02\u573a\u5c24\u4e3a\u4eae\u773c\uff1a\u6709\u673a\u6536\u5165\u589e\u957f<\/span><span data-contrast=\"auto\">7%<\/span><span data-contrast=\"auto\">\uff0c\u8fd0\u8425\u5229\u6da6\uff08\u6c47\u7387\u4e2d\u6027\uff09\u589e\u957f<\/span><span data-contrast=\"auto\">12%<\/span><span data-contrast=\"auto\">\uff0c\u53cd\u6620\u5065\u5eb7\u7684\u63d0\u4ef7\u80fd\u529b\u4e0e\u8fd0\u8425\u6760\u6746\u3002\u7136\u800c\uff0c\u5e02\u573a\u5173\u6ce8\u53ef\u6301\u7eed\u6027\uff1a\u4e16\u754c\u676f\u8425\u9500\u6d3b\u52a8\u53ef\u80fd\u5e26\u6765\u77ed\u671f\u9500\u91cf\u63d0\u632f\uff0c<\/span><span data-contrast=\"auto\">Q3<\/span><span data-contrast=\"auto\">\u80fd\u5426\u7ef4\u6301\u589e\u957f\u5b58\u7591\uff1b\u4e9a\u592a\u533a\u4ef7\u683c<\/span><span data-contrast=\"auto\">\/<\/span><span data-contrast=\"auto\">\u7ec4\u5408\u4e0b\u964d<\/span><span data-contrast=\"auto\">9%<\/span><span data-contrast=\"auto\">\uff0c\u56e0\u5370\u5ea6\u5e02\u573a\u75b2\u8f6f\u62d6\u7d2f\u6574\u4f53\uff0c\u5bfc\u81f4\u8be5\u533a\u57df\u4ef7\u503c\u4efd\u989d\u6d41\u5931\uff1b\u94dd\u3001\u5851\u6599\u7b49\u539f\u6750\u6599\u6210\u672c\u4ecd\u5904\u9ad8\u4f4d\uff0c\u6784\u6210\u6f5c\u5728\u6bdb\u5229\u7387\u538b\u529b\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">5%<\/span><span data-contrast=\"auto\">\uff0c\u53cd\u6620\u6295\u8d44\u8005\u5bf9\u76c8\u5229\u8d28\u91cf\u548c\u6307\u5f15\u4e0a\u8c03\u7684\u8ba4\u53ef\u3002\u4f46\u4f5c\u4e3a\u9ad8\u80a1\u606f\u3001\u4f4e\u6ce2\u52a8\u7684\u5fc5\u9700\u6d88\u8d39\u54c1\u9f99\u5934\uff0c\u5176\u4f30\u503c\u5df2\u90e8\u5206\u53cd\u6620\u7a33\u5065\u9884\u671f\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u4e16\u754c\u676f\u540e\u9500\u91cf\u662f\u5426\u56de\u843d\uff1b\uff08<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\uff09\u65b0\u5174\u5e02\u573a<\/span><span data-contrast=\"auto\">\u00a0affordability\u00a0<\/span><span data-contrast=\"auto\">\u7b56\u7565\uff08\u5982\u5c0f\u5305\u88c5\u3001\u5e73\u4ef7\u4ea7\u54c1\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u5927\u5b97\u5546\u54c1\u6210\u672c\u8d70\u52bf\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u5317\u7f8e\u9ad8\u5229\u6da6\u7387\u80fd\u5426\u6301\u7eed\u6269\u5f20\u3002\u53ef\u53e3\u53ef\u4e50\u51ed\u501f\u5f3a\u5927\u54c1\u724c\u529b\u3001\u5168\u7403\u5206\u9500\u7f51\u7edc\u4e0e\u4ea7\u54c1\u521b\u65b0\uff0c\u5728\u901a\u80c0\u73af\u5883\u4e2d\u5c55\u73b0\u97e7\u6027\u3002\u957f\u671f\u589e\u957f\u903b\u8f91\u7a33\u56fa\uff0c\u4f46\u77ed\u671f\u7f3a\u4e4f\u7206\u53d1\u529b\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">78<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">98<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span>\u00a0<br \/><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">United Parcel Service, Inc. (UPS)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$22.8B<\/span><span data-contrast=\"auto\">,\u00a0+7.5% YoY,\u00a0beat\u00a0estimates by $960M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$1.76, beat estimates by $0.10<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised FY26 guidance to approximately US$91.2B of revenue, US$8.65B of adjusted operating profit, and US$7.22 of adjusted EPS. Capital expenditure guidance remains US$3.0B, while expected dividend payments remain approximately US$5.4B.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks:\u00a0<\/span><\/b><span data-contrast=\"auto\">Maintained its quarterly dividend. UPS expects to distribute approximately US$5.4B in dividends during FY26, subject to board approval.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was a strong beat-and-raise quarter. Revenue exceeded expectations across all three operating segments, with U.S. Domestic adjusted operating profit increasing more than 20% YoY as the company completed its 18-month Amazon volume reduction and network reconfiguration. Revenue per package increased 9.3%, highlighting a successful shift toward higher-margin B2B and healthcare shipments rather than lower-margin volume. The main issue is that investors remain unconvinced the second-half acceleration is fully achievable. Although UPS\u00a0raised full-year revenue and EPS guidance, the company still faces macroeconomic uncertainty, higher fuel costs and ongoing competition from Amazon and FedEx. The market also focused on approximately US$1.2B of transformation costs incurred during the quarter. Shares fell roughly 5%\u20136% following the results despite the earnings beat and upgraded outlook. The principal variables to monitor are U.S. domestic margin expansion, growth in healthcare logistics, pricing power, international volume recovery, and successful execution of the post-Amazon network.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $95\u00a0to $120. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">United Parcel Service, Inc.\uff08UPS<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">228\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f7.5%\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f9.6\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">1.76\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.10\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\u4e0a\u8c03\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u4e0a\u8c03\u81f3\u7ea6912\u4ebf\u7f8e\u5143\uff1b\u8c03\u6574\u540e\u8425\u4e1a\u5229\u6da6\u4e0a\u8c03\u81f386.5\u4ebf\u7f8e\u5143\uff1b\u8c03\u6574\u540eEPS\u4e0a\u8c03\u81f37.22\u7f8e\u5143\uff1b\u8d44\u672c\u5f00\u652f\u7ef4\u630130\u4ebf\u7f8e\u5143\uff1b\u9884\u8ba1\u5168\u5e74\u6d3e\u606f\u7ea654\u4ebf\u7f8e\u5143\uff08\u5b63\u5ea6\u80a1\u606f\u7ef4\u6301\u4e0d\u53d8\uff09<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u4e3a\u5f3a\u52b2\u7684\u201c\u5168\u9762\u8d85\u9884\u671f+\u6307\u5f15\u4e0a\u8c03\u201d\u8868\u73b0\u3002\u4e09\u5927\u4e1a\u52a1\u677f\u5757\u5747\u8d21\u732e\u8425\u6536\u589e\u957f\uff0c\u5c24\u5176\u7f8e\u56fd\u672c\u571f\u4e1a\u52a1\u8c03\u6574\u540e\u8425\u4e1a\u5229\u6da6\u540c\u6bd4\u5927\u589e\u8d8520%\uff0c\u6807\u5fd7\u5176\u4e3a\u671f18\u4e2a\u6708\u7684\u9000\u51fa\u4e9a\u9a6c\u900a\u4f4e\u5229\u6da6\u5305\u88f9\u4e1a\u52a1\u53ca\u7f51\u7edc\u91cd\u6784\u57fa\u672c\u5b8c\u6210\u3002\u5355\u4ef6\u6536\u5165\u63d0\u53479.3%\uff0c\u53cd\u6620\u6218\u7565\u6210\u529f\u8f6c\u5411\u9ad8\u6bdb\u5229\u7684B2B\u3001\u533b\u7597\u5065\u5eb7\u7b49\u4e13\u4e1a\u7269\u6d41\u9886\u57df\uff0c\u800c\u975e\u4f9d\u8d56\u4f4e\u4ef7\u7535\u5546\u4f53\u79ef\u3002\u7136\u800c\uff0c\u5e02\u573a\u53cd\u5e94\u8d1f\u9762\u2014\u2014\u80a1\u4ef7\u4e0b\u8dcc5%\u20136%\uff0c\u4e3b\u56e0\u6295\u8d44\u8005\u5bf9\u4e0b\u534a\u5e74\u52a0\u901f\u589e\u957f\u7684\u53ef\u6301\u7eed\u6027\u5b58\u7591\uff1a\u5c3d\u7ba1\u6307\u5f15\u4e0a\u8c03\uff0c\u4f46\u5b8f\u89c2\u4e0d\u786e\u5b9a\u6027\u3001\u9ad8\u71c3\u6cb9\u6210\u672c\u53ca\u6765\u81ea\u4e9a\u9a6c\u900a\u81ea\u8425\u7269\u6d41\u4e0eFedEx\u7684\u7ade\u4e89\u538b\u529b\u4ecd\u5728\uff1b\u672c\u5b63\u5ea6\u8ba1\u5165\u7ea612\u4ebf\u7f8e\u5143\u8f6c\u578b\u6210\u672c\uff0c\u663e\u793a\u7f51\u7edc\u4f18\u5316\u4ecd\u5728\u8fdb\u884c\u4e2d\uff0c\u77ed\u671f\u76c8\u5229\u6216\u53d7\u6270\u52a8\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u7f8e\u56fd\u672c\u571f\u5229\u6da6\u7387\u80fd\u5426\u5728\u5254\u9664\u8f6c\u578b\u6210\u672c\u540e\u6301\u7eed\u6269\u5f20\uff1b\uff082\uff09\u533b\u7597\u5065\u5eb7\u7269\u6d41\u7b49\u9ad8\u589e\u957f\u7ec6\u5206\u5e02\u573a\u6e17\u900f\u7387\uff1b\uff083\uff09\u5b9a\u4ef7\u80fd\u529b\u5728\u901a\u80c0\u73af\u5883\u4e2d\u7684\u7ef4\u6301\uff1b\uff084\uff09\u56fd\u9645\u4e1a\u52a1\u91cf\u80fd\u5426\u968f\u5168\u7403\u8d38\u6613\u56de\u6696\u800c\u6062\u590d\uff1b\uff085\uff09\u540e\u4e9a\u9a6c\u900a\u65f6\u4ee3\u65b0\u7f51\u7edc\u7684\u8fd0\u8425\u6548\u7387\u4e0e\u8d44\u4ea7\u56de\u62a5\u7387\u3002UPS\u6b63\u4ece\u201c\u7535\u5546\u5305\u88f9\u627f\u8fd0\u5546\u201d\u5411<\/span><span data-contrast=\"auto\">\u201c<\/span><span data-contrast=\"auto\">\u9ad8\u4ef7\u503c\u4f9b\u5e94\u94fe\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u5546\u201d\u8f6c\u578b\uff0c\u57fa\u672c\u9762\u8d8b\u52bf\u5411\u597d\u3002\u4f46\u5e02\u573a\u8981\u6c42\u66f4\u9ad8\u786e\u5b9a\u6027\u4ee5\u652f\u6491\u4f30\u503c\u4fee\u590d\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a95\u7f8e\u5143\u81f3120\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span>\u00a0<br \/><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Corning Incorporated (GLW)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$4.74B<\/span><span data-contrast=\"auto\">,\u00a0+22.8% YoY, beat estimates\u00a0by\u00a0$110M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$0.78, beat estimates by $0.03<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a03Q26 sales are expected to be US$4.9B\u2013US$5.0B, implying approximately 16% YoY growth but slightly below market expectations. Management announced a US$2B capital expansion plan to increase optical-fiber\u00a0manufacturing capacity in response to AI infrastructure demand.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividend\/Share Buybacks:\u00a0<\/span><\/b><span data-contrast=\"auto\">Declared a quarterly dividend of US$0.28 per share, payable on 29 September 2026.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was another strong operational quarter. Revenue and core EPS both exceeded expectations, with Optical Communications continuing to be the growth engine as\u00a0hyperscaler\u00a0AI spending drove a 32% increase in\u00a0segment revenue. The recently announced multibillion-dollar supply agreement with Amazon further strengthens long-term visibility for Corning&#8217;s fibre and connectivity products. The key issue was not demand, but capacity and mix. Management acknowledged that optical-fibre demand currently exceeds manufacturing capacity and that the company could sell more if it could produce more. At the same time, Gorilla Glass and broader consumer-electronics markets remain weak because of sluggish smartphone demand. Although 3Q revenue guidance still implies double-digit growth, it narrowly missed elevated investor expectations, triggering a sharp sell-off of more than 20%, Corning&#8217;s largest one-day decline in over two decades. The principal variables to monitor are the pace of optical-capacity expansion, conversion of AI networking demand into higher-margin revenue, recovery in consumer electronics, and whether optical margins remain strong as production ramps.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26\u00a0recommended trading range: $110\u00a0to $150.\u00a0Neutral\u00a0Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Corning Incorporated\uff08GLW<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">47.4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">22.8%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">1.1<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.78<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5c0f\u5e45\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.03<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u9884\u8ba1<\/span><span data-contrast=\"auto\">49<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">50<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff08\u540c\u6bd4<\/span><span data-contrast=\"auto\">+<\/span><span data-contrast=\"auto\">\u7ea6<\/span><span data-contrast=\"auto\">16%<\/span><span data-contrast=\"auto\">\uff09\uff0c\u7565\u4f4e\u4e8e\u5e02\u573a\u9ad8\u9884\u671f\uff1b\u5ba3\u5e03<\/span><span data-contrast=\"auto\">20<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u8d44\u672c\u6269\u5f20\u8ba1\u5212\uff0c\u7528\u4e8e\u63d0\u5347\u5149\u7f06\u5236\u9020\u4ea7\u80fd\u4ee5\u5e94\u5bf9<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u57fa\u7840\u8bbe\u65bd\u9700\u6c42<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5ba3\u5e03\u5b63\u5ea6\u80a1\u606f\u6bcf\u80a1<\/span><span data-contrast=\"auto\">0.28<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74<\/span><span data-contrast=\"auto\">9<\/span><span data-contrast=\"auto\">\u6708<\/span><span data-contrast=\"auto\">29<\/span><span data-contrast=\"auto\">\u65e5\u652f\u4ed8<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8fd0\u8425\u8868\u73b0\u5f3a\u52b2\uff0c\u5149\u901a\u4fe1\u4e1a\u52a1\u7ee7\u7eed\u4f5c\u4e3a\u6838\u5fc3\u589e\u957f\u5f15\u64ce\uff0c\u53d7\u76ca\u4e8e\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\uff08<\/span><span data-contrast=\"auto\">hyperscalers<\/span><span data-contrast=\"auto\">\uff09\u5bf9<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u6570\u636e\u4e2d\u5fc3\u7684\u5de8\u989d\u6295\u5165\uff0c\u8be5\u677f\u5757\u6536\u5165\u540c\u6bd4\u5927\u589e<\/span><span data-contrast=\"auto\">32%<\/span><span data-contrast=\"auto\">\u3002\u516c\u53f8\u8fd1\u671f\u4e0e\u4e9a\u9a6c\u900a\u7b7e\u7f72\u6570\u5341\u4ebf\u7f8e\u5143\u957f\u671f\u4f9b\u5e94\u534f\u8bae\uff0c\u663e\u8457\u63d0\u5347\u5149\u7ea4\u53ca\u8fde\u63a5\u4ea7\u54c1\u672a\u6765\u591a\u5e74\u7684\u6536\u5165\u80fd\u89c1\u5ea6\u3002\u7136\u800c\uff0c\u5e02\u573a\u7126\u70b9\u8fc5\u901f\u8f6c\u5411\u4f9b\u7ed9\u74f6\u9888\u4e0e\u7ed3\u6784\u6027\u5206\u5316\uff1a\u5149\u7f06\u9700\u6c42\u5df2\u8d85\u8fc7\u5f53\u524d\u4ea7\u80fd\uff0c\u7ba1\u7406\u5c42\u5766\u8a00\u201c\u82e5\u80fd\u751f\u4ea7\u66f4\u591a\uff0c\u5c31\u80fd\u5356\u51fa\u66f4\u591a\u201d\uff1b\u6d88\u8d39\u7535\u5b50\u677f\u5757\u6301\u7eed\u75b2\u8f6f\uff0c<\/span><span data-contrast=\"auto\">Gorilla Glass<\/span><span data-contrast=\"auto\">\u53d7\u667a\u80fd\u624b\u673a\u9700\u6c42\u4f4e\u8ff7\u62d6\u7d2f\uff0c\u6210\u4e3a\u589e\u957f\u62d6\u7d2f\u9879\uff1b\u5c3d\u7ba1<\/span><span data-contrast=\"auto\">Q3<\/span><span data-contrast=\"auto\">\u6307\u5f15\u4ecd\u9690\u542b\u53cc\u4f4d\u6570\u589e\u957f\uff0c\u4f46\u672a\u80fd\u6ee1\u8db3\u5df2\u88ab\u62ac\u9ad8\u7684\u5e02\u573a\u9884\u671f\uff0c\u5f15\u53d1\u5267\u70c8\u629b\u552e\u2014\u2014\u80a1\u4ef7\u5355\u65e5\u66b4\u8dcc\u8d85<\/span><span data-contrast=\"auto\">20%<\/span><span data-contrast=\"auto\">\uff0c\u521b\u4e8c\u5341\u591a\u5e74\u6765\u6700\u5927\u8dcc\u5e45\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1\uff0920<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u6269\u4ea7\u8ba1\u5212\u7684\u6267\u884c\u901f\u5ea6\u4e0e\u722c\u5761\u6548\u7387\uff1b\uff08<\/span><span data-contrast=\"auto\">2\uff09AI<\/span><span data-contrast=\"auto\">\u76f8\u5173\u5149\u901a\u4fe1\u6536\u5165\u80fd\u5426\u4ece\u201c\u91cf\u589e\u201d\u8f6c\u5411\u201c\u91cf\u5229\u53cc\u5347\u201d\uff08\u5f53\u524d\u6bdb\u5229\u7387\u627f\u538b\u4e8e\u4ea7\u80fd\u7d27\u5f20\u4e0e\u4ea7\u54c1\u7ec4\u5408\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u6d88\u8d39\u7535\u5b50\u5e02\u573a\uff08\u5c24\u5176\u9ad8\u7aef\u624b\u673a\uff09\u4f55\u65f6\u56de\u6696\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u5149\u901a\u4fe1\u677f\u5757\u5728\u4ea7\u80fd\u91ca\u653e\u540e\u80fd\u5426\u7ef4\u6301\u9ad8\u5229\u6da6\u7387\u3002<\/span><span data-contrast=\"auto\">Corning<\/span><span data-contrast=\"auto\">\u4f5c\u4e3a<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u57fa\u7840\u8bbe\u65bd\u5173\u952e\u6750\u6599\u4f9b\u5e94\u5546\uff0c\u6218\u7565\u5730\u4f4d\u7a81\u51fa\uff0c\u957f\u671f\u903b\u8f91\u575a\u5b9e\u3002\u4f46\u77ed\u671f\u4f30\u503c\u5df2\u9ad8\u5ea6\u4f9d\u8d56\u5149\u901a\u4fe1\u5355\u4e00\u5f15\u64ce\uff0c\u4e14\u6d88\u8d39\u7535\u5b50\u62d6\u7d2f\u672a\u6d88\uff0c\u5bfc\u81f4\u5e02\u573a\u60c5\u7eea\u654f\u611f\u3002\u82e5\u4ea7\u80fd\u6269\u5f20\u987a\u5229\u3001\u5229\u6da6\u7387\u6539\u5584\uff0c\u6709\u671b\u91cd\u83b7\u4fe1\u5fc3\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">110<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">150<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span>\u00a0<br \/><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Royal Caribbean Cruises Ltd. (RCL)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"25\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$4.83B<\/span><span data-contrast=\"auto\">,\u00a0+6.4% YoY,\u00a0in-line with estimates<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$4.21, beat estimates by $0.23<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised FY26 adjusted EPS guidance to US$17.73\u2013US$17.87 from US$17.10\u2013US$17.50, above market expectations. However, FY26 revenue growth guidance was reduced to approximately 9% from 10%,\u00a0while net yield growth guidance was narrowed to 2.35%\u20132.85% due to geopolitical-related booking softness on selected itineraries.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was another strong execution quarter. Revenue, EPS and onboard spending all exceeded expectations, supported by stronger-than-expected close-in bookings and continued pricing power. Booking volumes remain above last year&#8217;s levels and the company continues to achieve record pricing, demonstrating that premium cruise demand remains resilient despite macro uncertainty. The main concern is geopolitical disruption rather than demand destruction. Middle East tensions have softened bookings for certain Mediterranean itineraries and prompted management to trim its full-year revenue growth outlook. Even so, higher onboard spending, resilient Caribbean demand and lower expected fuel costs more than offset these headwinds, allowing management to raise full-year EPS guidance. Investors focused on the earnings upgrade rather than the modest revenue cut, with shares rising roughly 5% following the results. The principal variables to monitor are booking trends for 2027, the pace of recovery in Mediterranean itineraries, onboard spending per passenger, fuel costs and continued pricing power as additional capacity enters the market.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $280\u00a0to $370. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Royal Caribbean Cruises Ltd.\uff08RCL<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">48.3\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f6.4%\uff0c\u7b26\u5408\u9884\u671f<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"25\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">4.21\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.23\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\u8c03\u6574\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u8c03\u6574\u540eEPS\u81f317.73\u201317.87\u7f8e\u5143\uff08\u539f\u4e3a17.10\u201317.50\u7f8e\u5143\uff09\uff0c\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\uff1b\u4f46\u5c06\u5168\u5e74\u8425\u6536\u589e\u957f\u6307\u5f15\u4e0b\u8c03\u81f3\u7ea69%\uff08\u539f\u4e3a10%\uff09\uff1b\u51c0\u6536\u76ca\u7387\uff08net yield\uff09<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u518d\u6b21\u5c55\u73b0\u5353\u8d8a\u7684\u8fd0\u8425\u6267\u884c\u529b\u3002\u5c3d\u7ba1\u5730\u7f18\u653f\u6cbb\u6270\u52a8\u5b58\u5728\uff0c\u8425\u6536\u3001\u76c8\u5229\u53ca\u8239\u4e0a\u6d88\u8d39\u5747\u8d85\u9884\u671f\uff0c\u5f97\u76ca\u4e8e\u4e34\u8fd1\u9884\u8ba2\uff08close-in bookings\uff09\u8868\u73b0\u5f3a\u52b2\u548c\u6301\u7eed\u7684\u5b9a\u4ef7\u80fd\u529b\u3002\u5f53\u524d\u9884\u8ba2\u91cf\u4ecd\u9ad8\u4e8e\u53bb\u5e74\u540c\u671f\uff0c\u4e14\u5b9e\u73b0\u521b\u7eaa\u5f55\u7684\u7968\u4ef7\u6c34\u5e73\uff0c\u5370\u8bc1\u9ad8\u7aef\u90ae\u8f6e\u9700\u6c42\u5728\u5b8f\u89c2\u4e0d\u786e\u5b9a\u6027\u4e0b\u4f9d\u7136\u575a\u97e7\u3002\u7136\u800c\uff0c\u5730\u7f18\u98ce\u9669\u6b63\u5f71\u54cd\u90e8\u5206\u822a\u7ebf\u9700\u6c42\uff1a\u4e2d\u4e1c\u5c40\u52bf\u7d27\u5f20\u5bfc\u81f4\u5730\u4e2d\u6d77\u90e8\u5206\u822a\u6b21\u9884\u8ba2\u653e\u7f13\uff0c\u8feb\u4f7f\u516c\u53f8\u5c0f\u5e45\u4e0b\u8c03\u5168\u5e74\u8425\u6536\u4e0e\u51c0\u6536\u76ca\u7387\u6307\u5f15\u3002\u503c\u5f97\u80af\u5b9a\u7684\u662f\uff0c\u52a0\u52d2\u6bd4\u6d77\u822a\u7ebf\u9700\u6c42\u7a33\u5065\u3001\u8239\u4e0a\u4eba\u5747\u6d88\u8d39\u63d0\u5347\u3001\u71c3\u6cb9\u6210\u672c\u9884\u671f\u4e0b\u964d\uff0c\u5171\u540c\u62b5\u6d88\u4e86\u533a\u57df\u6270\u52a8\uff0c\u652f\u6491EPS\u6307\u5f15\u4e0a\u8c03\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea65%\uff0c\u53cd\u6620\u5e02\u573a\u66f4\u5173\u6ce8\u76c8\u5229\u4e0a\u8c03\u4e0e\u9700\u6c42\u97e7\u6027\uff0c\u800c\u975e\u5c0f\u5e45\u8425\u6536\u4fee\u6b63\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff092027\u5e74\u822a\u6b21\u9884\u8ba2\u8d8b\u52bf\u662f\u5426\u5ef6\u7eed\u5f3a\u52bf\uff1b\uff082\uff09\u5730\u4e2d\u6d77\u822a\u7ebf\u9700\u6c42\u80fd\u5426\u968f\u5c40\u52bf\u7f13\u548c\u800c\u6062\u590d\uff1b\uff083\uff09\u8239\u4e0a\u4eba\u5747\u6d88\u8d39\u80fd\u5426\u7ef4\u6301\u9ad8\u4f4d\uff1b\uff084\uff09\u71c3\u6cb9\u4ef7\u683c\u662f\u5426\u4fdd\u6301\u4e0b\u884c\u8d8b\u52bf\uff1b\uff085\uff09\u5728\u65b0\u8239\u4ea4\u4ed8\u589e\u52a0\u4f9b\u7ed9\u7684\u80cc\u666f\u4e0b\uff0c\u516c\u53f8\u80fd\u5426\u7ef4\u6301\u5b9a\u4ef7\u6743\u3002Royal Caribbean\u51ed\u501f\u54c1\u724c\u6ea2\u4ef7\u3001\u4ea7\u54c1\u521b\u65b0\uff08\u5982Icon\u7ea7\u90ae\u8f6e\uff09\u548c\u52a8\u6001\u5b9a\u4ef7\u80fd\u529b\uff0c\u5728\u884c\u4e1a\u4e2d\u5360\u636e\u9886\u5148\u5730\u4f4d\u3002\u77ed\u671f\u867d\u53d7\u5730\u7f18\u56e0\u7d20\u6270\u52a8\uff0c\u4f46\u57fa\u672c\u9762\u5065\u5eb7\uff0c\u76c8\u5229\u80fd\u89c1\u5ea6\u9ad8\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a280\u7f8e\u5143\u81f3370\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span>\u00a0<br \/><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Bloom Energy Corporation (BE)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$1.07B<\/span><span data-contrast=\"auto\">,\u00a0+166.7% YoY, beat estimates by $242.98M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$0.78, beat estimates by $0.37<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised FY26 revenue guidance to US$3.9B\u2013US$4.2B from US$3.4B\u2013US$3.8B, and\u00a0increased adjusted EPS guidance to US$2.55\u2013US$2.85 from US$1.85\u2013US$2.25. Management cited accelerating demand from\u00a0hyperscalers, AI labs,\u00a0neocloud\u00a0providers and colocation customers.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was an exceptional quarter. Revenue exceeded US$1 billion for the first time, adjusted EPS nearly doubled Street expectations, and product gross margin expanded materially. Management indicated that Bloom&#8217;s fuel-cell platform is increasingly becoming a preferred on-site power solution for AI data centres as customers seek faster deployment than conventional grid expansion. Backlog also continued to strengthen with new business from major\u00a0hyperscalers\u00a0and AI infrastructure customers. The key positive is the dramatic improvement in forward visibility. The sizeable guidance increase implies approximately 100% revenue growth at the midpoint for FY26, supported by both backlog conversion and continued order intake. Investors also welcomed Bloom&#8217;s expanding AI infrastructure partnerships, including large-scale deployment opportunities with Brookfield and major cloud customers. Shares rose approximately 13% in after-hours trading following the results. The principal variables to monitor are execution on manufacturing capacity, gross-margin sustainability as volumes scale, conversion of AI-related backlog into revenue, and competitive dynamics in distributed power generation.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $130\u00a0to $250. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Bloom Energy Corporation\uff08BE<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">10.7\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f166.7%\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f2.43\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.78\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.37\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\u5927\u5e45\u4e0a\u8c03\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u6307\u5f15\u63d0\u5347\u81f339\u4ebf\u201342\u4ebf\u7f8e\u5143\uff08\u539f\u4e3a34\u4ebf\u201338\u4ebf\u7f8e\u5143\uff09\uff1b\u8c03\u6574\u540eEPS\u6307\u5f15\u4e0a\u8c03\u81f32.55\u20132.85\u7f8e\u5143\uff08\u539f\u4e3a1.85\u20132.25\u7f8e\u5143\uff09\uff1b\u4e0a\u8c03\u4e3b\u56e0\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\uff08<\/span><span data-contrast=\"auto\">hyperscalers\uff09<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8868\u73b0\u6781\u4e3a\u5f3a\u52b2\uff0c\u521b\u4e0b\u516c\u53f8\u5386\u53f2\u91cc\u7a0b\u7891\u2014\u2014\u9996\u6b21\u5355\u5b63\u8425\u6536\u7a81\u783410\u4ebf\u7f8e\u5143\uff0c\u76c8\u5229\u8fd1\u4e4e\u7ffb\u500d\u4e8e\u5e02\u573a\u9884\u671f\uff0c\u4ea7\u54c1\u6bdb\u5229\u7387\u663e\u8457\u6269\u5f20\u3002\u6838\u5fc3\u9a71\u52a8\u529b\u6765\u81eaAI\u6570\u636e\u4e2d\u5fc3\u5bf9\u73b0\u573a\u5206\u5e03\u5f0f\u7535\u6e90\uff08on-site power\uff09\u7684\u8feb\u5207\u9700\u6c42\uff1a\u76f8\u6bd4\u4f20\u7edf\u7535\u7f51\u6269\u5bb9\uff0cBloom\u7684\u56fa\u4f53\u6c27\u5316\u7269\u71c3\u6599\u7535\u6c60\uff08SOFC\uff09\u53ef\u5b9e\u73b0\u66f4\u5feb\u90e8\u7f72\u3001\u66f4\u9ad8\u80fd\u6548\u4e0e\u4f4e\u78b3\u6392\u653e\uff0c\u6b63\u6210\u4e3aAI\u7b97\u529b\u57fa\u7840\u8bbe\u65bd\u7684\u5173\u952e\u80fd\u6e90\u89e3\u51b3\u65b9\u6848\u3002\u516c\u53f8 backlog \u6301\u7eed\u589e\u5f3a\uff0c\u8fd1\u671f\u8d62\u5f97\u591a\u5bb6\u5934\u90e8\u4e91\u670d\u52a1\u5546\u53caAI\u5b9e\u9a8c\u5ba4\u7684\u5927\u989d\u8ba2\u5355\uff0c\u5e76\u4e0eBrookfield\u7b49\u80fd\u6e90\u57fa\u7840\u8bbe\u65bd\u5de8\u5934\u6df1\u5316\u5408\u4f5c\uff0c\u5f00\u542f\u5927\u89c4\u6a21\u90e8\u7f72\u673a\u4f1a\u3002\u5168\u5e74\u6307\u5f15\u4e2d\u503c\u9690\u542b\u7ea6100%\u7684\u8425\u6536\u589e\u957f\uff0c\u663e\u793a\u9ad8\u589e\u957f\u4e0d\u4ec5\u6e90\u4e8e\u73b0\u6709\u8ba2\u5355\u8f6c\u5316\uff0c\u66f4\u53d7\u76ca\u4e8e\u6301\u7eed\u5f3a\u52b2\u7684\u65b0\u8ba2\u5355\u6d41\u5165\u3002\u8d22\u62a5\u540e\u76d8\u540e\u80a1\u4ef7\u5927\u6da8\u7ea613%\uff0c\u53cd\u6620\u5e02\u573a\u5bf9Bloom\u4ece\u201c\u6e05\u6d01\u80fd\u6e90\u6982\u5ff5\u80a1\u201d\u5411\u201cAI\u7535\u529b\u521a\u9700\u4f9b\u5e94\u5546\u201d\u8f6c\u578b\u7684\u8ba4\u53ef\u3002\u7136\u800c\uff0c\u9ad8\u901f\u589e\u957f\u4f34\u968f\u6267\u884c\u6311\u6218\uff1a\u5236\u9020\u4ea7\u80fd\u80fd\u5426\u5339\u914d\u8ba2\u5355\u7206\u53d1\uff1f\u6bdb\u5229\u7387\u5728\u5feb\u901f\u6269\u4ea7\u4e2d\u80fd\u5426\u7ef4\u6301\u9ad8\u4f4d\uff1f\u9762\u5bf9\u5361\u7279\u5f7c\u52d2\u3001\u6c22\u80fd\u65b9\u6848\u53ca\u5176\u4ed6\u5206\u5e03\u5f0f\u53d1\u7535\u6280\u672f\u7684\u7ade\u4e89\uff0cBloom\u7684\u6280\u672f\u4e0e\u6210\u672c\u4f18\u52bf\u662f\u5426\u53ef\u6301\u7eed\uff1f\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u4ea7\u80fd\u722c\u5761\u8fdb\u5ea6\u4e0e\u4f9b\u5e94\u94fe\u4fdd\u969c\uff1b\uff082\uff09AI\u76f8\u5173 backlog \u5411\u6536\u5165\u7684\u8f6c\u5316\u6548\u7387\uff1b\uff083\uff09\u89c4\u6a21\u5316\u4e0b\u7684\u6bdb\u5229\u7387\u7a33\u5b9a\u6027\uff1b\uff084\uff09\u4e0e\u4e91\u5382\u5546\u957f\u671fPPA\uff08\u8d2d\u7535\u534f\u8bae\uff09\u3002Bloom Energy\u6b63\u5904\u4e8e\u9700\u6c42\u7206\u53d1\u62d0\u70b9\uff0c\u5728AI\u9a71\u52a8\u7684\u80fd\u6e90\u8303\u5f0f\u53d8\u9769\u4e2d\u5360\u636e\u72ec\u7279\u751f\u6001\u4f4d\u3002\u82e5\u6267\u884c\u987a\u5229\uff0c\u6709\u671b\u6210\u4e3a\u5206\u5e03\u5f0f\u6e05\u6d01\u7535\u529b\u9886\u57df\u7684\u201c\u9690\u5f62\u51a0\u519b\u201d\u3002\u4f46\u9ad8\u4f30\u503c\u5df2\u90e8\u5206\u900f\u652f\u4e50\u89c2\u9884\u671f\uff0c\u9700\u6301\u7eed\u5151\u73b0\u4ee5\u652f\u6491\u4e0a\u884c\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a130\u7f8e\u5143\u81f3250\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<br \/><\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Seagate Technology Holdings plc (STX)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$3.63B<\/span><span data-contrast=\"auto\">,\u00a0+48.8% YoY, beat estimates by $140M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"34\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$5.71, beat estimates by $0.62<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"35\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">1Q<\/span><\/b><b><span data-contrast=\"auto\">27\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a01Q27 revenue is guided to approximately US$4.10B \u00b1 US$100M, above consensus of approximately US$3.8B. Adjusted EPS guidance is US$7.30 \u00b1 US$0.20, also materially ahead of expectations.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"36\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was an exceptional quarter. Revenue increased 49% YoY while adjusted EPS more than doubled, reflecting robust cloud and\u00a0hyperscaler\u00a0demand for high-capacity HDDs. Gross margin and free cash flow continued to improve as pricing remained firm and HAMR (Heat-Assisted Magnetic Recording) products gained traction. AI infrastructure continues to create incremental storage demand rather than replacing HDDs, benefiting Seagate&#8217;s enterprise business. The key positive is visibility. Management issued guidance substantially above expectations and reiterated that supply of mass-capacity HDDs remains constrained while\u00a0hyperscalers\u00a0continue expanding AI infrastructure. Investors had become concerned that recent weakness across AI hardware names would spread to storage, but these results suggest storage demand remains one of the strongest parts of the AI supply chain. Shares rose approximately 8% in after-hours trading following the earnings release. The principal variables to monitor are\u00a0hyperscaler\u00a0capex trends, HAMR adoption, enterprise HDD pricing, manufacturing capacity expansion and whether AI storage demand remains durable through 2027.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $700 to $900. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Seagate Technology Holdings plc\uff08STX<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b>36.3\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f48.8%\uff0c\u8d85\u51fa\u9884\u671f1.4\u4ebf\u7f8e\u5143\u00a0<\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b>5.71\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.62\u7f8e\u5143\u00a0<\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"34\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b>\u8425\u6536\u7ea641\u4ebf\u7f8e\u5143\uff08\u00b11\u4ebf\u7f8e\u5143\uff09\uff0c\u8fdc\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u768438\u4ebf\u7f8e\u5143\uff1b\u8c03\u6574\u540eEPS\u7ea67.30\u7f8e\u5143\uff08\u00b10.20\u7f8e\u5143\uff09\uff0c\u5927\u5e45\u8d85\u9884\u671f\u00a0<\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"35\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b>\u672c\u5b63\u5ea6\u8868\u73b0\u6781\u4e3a\u5f3a\u52b2\uff0c\u9a8c\u8bc1\u5b58\u50a8\u5728AI\u57fa\u7840\u8bbe\u65bd\u4e2d\u7684\u5173\u952e\u5730\u4f4d\u3002\u8425\u6536\u8fd1\u7ffb\u500d\u589e\u957f\uff0c\u76c8\u5229\u540c\u6bd4\u7ffb\u500d\u4ee5\u4e0a\uff0c\u4e3b\u8981\u53d7\u76ca\u4e8e\u4e91\u670d\u52a1\u5546\u4e0e\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\uff08hyperscalers\uff09\u5bf9\u5927\u5bb9\u91cf\u4f01\u4e1a\u7ea7\u786c\u76d8\uff08HDD\uff09\u7684\u5f3a\u52b2\u9700\u6c42\u3002AI\u8bad\u7ec3\u4e0e\u63a8\u7406\u4e0d\u4ec5\u672a\u66ff\u4ee3HDD\uff0c\u53cd\u800c\u56e0\u6d77\u91cf\u6570\u636e\u5b58\u50a8\u9700\u6c42\u521b\u9020\u4e86\u589e\u91cf\u5e02\u573a\uff0c\u63a8\u52a8Seagate\u4f01\u4e1a\u4e1a\u52a1\u663e\u8457\u590d\u82cf\u3002\u6280\u672f\u5c42\u9762\uff0cHAMR\uff08\u70ed\u8f85\u52a9\u78c1\u8bb0\u5f55\uff09\u6b63\u52a0\u901f\u5546\u7528\uff0c\u652f\u6491\u66f4\u9ad8\u5bb9\u91cf\u4ea7\u54c1\u6ea2\u4ef7\uff1b\u540c\u65f6\uff0cHDD\u4f9b\u5e94\u6301\u7eed\u7d27\u5f20\uff0c\u53e0\u52a0\u5b9a\u4ef7\u575a\u633a\uff0c\u63a8\u52a8\u6bdb\u5229\u7387\u4e0e\u81ea\u7531\u73b0\u91d1\u6d41\u6301\u7eed\u6539\u5584\u3002\u6700\u5927\u4eae\u70b9\u5728\u4e8e\u524d\u77bb\u6027\u6307\u5f15\u5927\u5e45\u8d85\u9884\u671f\uff0c\u6253\u6d88\u5e02\u573a\u5bf9\u201cAI\u786c\u4ef6\u9700\u6c42\u6269\u6563\u81f3\u5b58\u50a8\u677f\u5757\u201d\u7684\u62c5\u5fe7\u3002\u7ba1\u7406\u5c42\u660e\u786e\u8868\u793a\uff0c\u5927\u5bb9\u91cfHDD\u4f9b\u9700\u7f3a\u53e3\u4ecd\u5c06\u5ef6\u7eed\uff0c\u800cAI\u6570\u636e\u4e2d\u5fc3\u6269\u5f20\u6b63\u9a71\u52a8\u7ed3\u6784\u6027\u9700\u6c42\u589e\u957f\uff0c\u4e3a\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\u63d0\u4f9b\u9ad8\u80fd\u89c1\u5ea6\u3002\u8d22\u62a5\u540e\u76d8\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea68%\uff0c\u53cd\u6620\u6295\u8d44\u8005\u5bf9Seagate\u4f5c\u4e3aAI\u5b58\u50a8\u6838\u5fc3\u53d7\u76ca\u8005\u7684\u91cd\u65b0\u5b9a\u4ef7\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u8d44\u672c\u5f00\u652f\u662f\u5426\u7ef4\u6301\u9ad8\u4f4d\uff1b\uff082\uff09HAMR\u6280\u672f\u6e17\u900f\u7387\u4e0e\u826f\u7387\u63d0\u5347\u8282\u594f\uff1b\uff083\uff09\u4f01\u4e1a\u7ea7HDD\u4ef7\u683c\u80fd\u5426\u5728\u4f9b\u9700\u7d27\u5e73\u8861\u4e0b\u4fdd\u6301\u7a33\u5b9a\uff1b\uff084\uff09\u5236\u9020\u4ea7\u80fd\u6269\u5f20\u80fd\u5426\u5339\u914d\u8ba2\u5355\u9700\u6c42\uff1b\uff085\uff09AI\u76f8\u5173\u5b58\u50a8\u9700\u6c42\u57282027\u5e74\u524d\u7684\u53ef\u6301\u7eed\u6027\u3002Seagate\u5df2\u4ece\u5468\u671f\u4f4e\u8c37\u5f3a\u52bf\u53cd\u5f39\uff0c\u6210\u4e3aAI\u6570\u636e\u7206\u70b8\u65f6\u4ee3\u7684\u5173\u952e\u57fa\u7840\u8bbe\u65bd\u4f9b\u5e94\u5546\u3002\u5c3d\u7ba1\u4f30\u503c\u5df2\u56de\u5347\uff0c\u4f46\u82e5\u9700\u6c42\u4e0e\u6267\u884c\u6301\u7eed\u5151\u73b0\uff0c\u4ecd\u6709\u4e0a\u884c\u7a7a\u95f4\u3002<strong>26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a700\u7f8e\u5143\u81f3900\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002\u00a0<\/strong><\/li><\/ul><p><strong>\u00a0<\/strong><\/p><p><b><span data-contrast=\"auto\">Enphase Energy, Inc. (ENPH)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"37\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$291.9M<\/span><span data-contrast=\"auto\">,\u00a0-19.6% YoY, beat estimates by $1.6M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"38\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$0.46,\u00a0in-line with\u00a0estimates\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"39\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a03Q26 revenue is guided to US$290M\u2013US$320M, with the midpoint modestly above consensus expectations. Safe-harbor\u00a0revenue more than doubled sequentially to US$84.3M, helping offset continued weakness in the residential solar market.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"40\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">This was a modestly better-than-feared quarter. Revenue slightly exceeded expectations, EPS met forecasts, and non-GAAP gross margin improved sequentially, indicating that cost controls and product mix continue to support profitability despite a challenging residential solar environment. The sharp increase in safe-harbor\u00a0revenue also provided an important near-term demand buffer. The key concern remains demand visibility. Core residential solar installations remain subdued across major markets, while the reported 60% GAAP gross margin benefited from approximately US$45.4M of tariff refunds, inflating reported profitability by roughly 15.6 percentage points. Investors therefore remain focused on underlying demand recovery rather than headline margins. Initial after-hours trading was positive, with shares rising about 4% following the release. The principal variables to monitor are U.S. residential solar demand, inventory normalization at installers, adoption of IQ Battery and EV charging products, international growth, and whether non-GAAP gross margins can continue improving without one-off tariff benefits.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $30 to $50. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Enphase Energy, Inc.\uff08ENPH<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"36\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">2.919<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u4e0b\u964d<\/span><span data-contrast=\"auto\">19.6%<\/span><span data-contrast=\"auto\">\uff0c\u5c0f\u5e45\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">160<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"37\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.46<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u7b26\u5408\u9884\u671f<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"38\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536<\/span><span data-contrast=\"auto\">2.9<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">3.2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff08\u4e2d\u503c\u7565\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\uff09\uff1b<\/span><span data-contrast=\"auto\">Safe Harbor<\/span><span data-contrast=\"auto\">\u6536\u5165\u73af\u6bd4\u589e\u957f\u8d85\u4e00\u500d\u81f3<\/span><span data-contrast=\"auto\">8430<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143\uff0c\u90e8\u5206\u5bf9\u51b2\u4f4f\u5b85\u592a\u9633\u80fd\u5e02\u573a\u75b2\u8f6f<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"39\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8868\u73b0\u201c\u7565\u597d\u4e8e\u60b2\u89c2\u9884\u671f\u201d\uff0c\u5728\u6781\u5177\u6311\u6218\u7684\u73af\u5883\u4e2d\u5c55\u73b0\u97e7\u6027\u3002\u5c3d\u7ba1\u4f4f\u5b85\u592a\u9633\u80fd\u5b89\u88c5\u9700\u6c42\u6301\u7eed\u4f4e\u8ff7\uff0c\u516c\u53f8\u901a\u8fc7\u4e25\u683c\u6210\u672c\u63a7\u5236\u3001\u4ea7\u54c1\u7ec4\u5408\u4f18\u5316\uff08\u5982\u9ad8\u6bdb\u5229\u7535\u6c60\u4e0e<\/span><span data-contrast=\"auto\">EV<\/span><span data-contrast=\"auto\">\u5145\u7535\u4ea7\u54c1\uff09\u53ca<\/span><span data-contrast=\"auto\">Safe Harbor<\/span><span data-contrast=\"auto\">\u9879\u76ee\u4ea4\u4ed8\uff08\u5229\u7528\u8fc7\u5f80\u5173\u7a0e\u9884\u4ed8\u9501\u5b9a\u7ec4\u4ef6\u4f9b\u5e94\uff09\uff0c\u652f\u6491\u4e86\u76c8\u5229\u7a33\u5b9a\u3002\u975e<\/span><span data-contrast=\"auto\">GAAP<\/span><span data-contrast=\"auto\">\u6bdb\u5229\u7387\u73af\u6bd4\u6539\u5584\uff0c\u663e\u793a\u8fd0\u8425\u6548\u7387\u4ecd\u5728\u63d0\u5347\u3002\u7136\u800c\uff0c<\/span><span data-contrast=\"auto\">GAAP<\/span><span data-contrast=\"auto\">\u6bdb\u5229\u7387\u9ad8\u8fbe<\/span><span data-contrast=\"auto\">60%<\/span><span data-contrast=\"auto\">\u7684\u90e8\u5206\u539f\u56e0\u662f\u4e00\u6b21\u6027\u5173\u7a0e\u9000\u6b3e\u7ea6<\/span><span data-contrast=\"auto\">4540<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143\uff0c\u82e5\u5254\u9664\u8be5\u56e0\u7d20\uff0c\u5b9e\u9645\u6bdb\u5229\u7387\u7ea6<\/span><span data-contrast=\"auto\">44.4%<\/span><span data-contrast=\"auto\">\uff0c\u66f4\u53cd\u6620\u771f\u5b9e\u76c8\u5229\u80fd\u529b\u3002\u56e0\u6b64\uff0c\u6295\u8d44\u8005\u805a\u7126\u4e8e\u7ec8\u7aef\u9700\u6c42\u80fd\u5426\u5b9e\u8d28\u6027\u590d\u82cf\uff0c\u800c\u975e\u53d7\u60e0\u4e8e\u975e\u7ecf\u5e38\u6027\u9879\u76ee\u7684\u8868\u89c2\u5229\u6da6\u3002\u8d22\u62a5\u540e\u76d8\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">4%\uff0c<\/span><span data-contrast=\"auto\">\u53cd\u6620\u5e02\u573a\u5bf9\u201c\u6700\u574f\u65f6\u523b\u6216\u5df2\u8fc7\u53bb\u201d\u7684\u521d\u6b65\u8ba4\u53ef\uff0c\u4f46\u4fe1\u5fc3\u4ecd\u8106\u5f31\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u7f8e\u56fd\u4f4f\u5b85\u592a\u9633\u80fd\u88c5\u673a\u91cf\u662f\u5426\u89e6\u5e95\u53cd\u5f39\uff1b\uff08<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\uff09\u6e20\u9053\u5e93\u5b58\u662f\u5426\u5b8c\u6210\u53bb\u5316\uff08\u5f53\u524d\u4ecd\u504f\u9ad8\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">3\uff09IQ Battery<\/span><span data-contrast=\"auto\">\u50a8\u80fd\u4e0e<\/span><span data-contrast=\"auto\">EV<\/span><span data-contrast=\"auto\">\u5145\u7535\u4ea7\u54c1\u7684\u6e17\u900f\u7387\u63d0\u5347\u901f\u5ea6\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u6b27\u6d32\u3001\u4e9a\u592a\u7b49\u56fd\u9645\u5e02\u573a\u7684\u589e\u957f\u8d21\u732e\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u975e<\/span><span data-contrast=\"auto\">GAAP<\/span><span data-contrast=\"auto\">\u6bdb\u5229\u7387\u80fd\u5426\u5728\u65e0\u4e00\u6b21\u6027\u6536\u76ca\u4e0b\u7ee7\u7eed\u6269\u5f20\u3002<\/span><span data-contrast=\"auto\">Enphase<\/span><span data-contrast=\"auto\">\u4f5c\u4e3a\u5fae\u9006\u9f99\u5934\uff0c\u6280\u672f\u4e0e\u54c1\u724c\u4f18\u52bf\u7a33\u56fa\uff0c\u4f46\u5728\u884c\u4e1a\u53bb\u5e93\u5b58\u4e0e\u5229\u7387\u9ad8\u4f01\u80cc\u666f\u4e0b\uff0c\u77ed\u671f\u589e\u957f\u53d7\u9650\u3002\u82e5<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u4e0b\u534a\u5e74\u9700\u6c42\u56de\u6696\u53e0\u52a0\u65b0\u4ea7\u54c1\u653e\u91cf\uff0c\u6709\u671b\u5f00\u542f\u65b0\u4e00\u8f6e\u589e\u957f\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">30<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">50<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">KLA Corp.\u00a0(KLAC)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"41\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$3.66B<\/span><span data-contrast=\"auto\">,\u00a0+15.1% YoY, beat estimates by $60M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"42\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$1.05, beat estimates by $0.05<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"43\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">1Q27\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Expect\u00a0revenue of $4B, plus or minus $200M, ahead of analysts&#8217; average estimate of $3.92B and\u00a0adjusted earnings of $1.16 per share, plus or minus 10 cents, for the quarter, also ahead of an estimate of $1.14<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"44\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">KLA reported a solid fourth quarter, with revenue rising 15.1% YoY to US$3.66bn and adjusted EPS of US$1.05, both exceeding market expectations, driven by sustained demand from foundries and memory manufacturers investing in advanced semiconductor capacity for AI applications. The company also issued stronger-than-expected fiscal first-quarter guidance, forecasting revenue of approximately US$4.0bn and adjusted EPS of around US$1.16, supported by continued investment in semiconductor manufacturing and process control solutions. Despite the earnings beat, shares declined after the results as investors had anticipated a more significant upside following the stock\u2019s strong rally earlier in the year.\u00a0KLA remains well-positioned to benefit from the continued expansion of AI infrastructure, increasing semiconductor capital expenditure and the growing complexity of advanced chip manufacturing, which are driving demand for its process control and yield management solutions. Management expects business momentum to accelerate through the second half of 2026 and continue into 2027, with advanced packaging representing an additional growth opportunity alongside leading-edge logic and memory investments. However, investor sentiment, the pace of\u00a0hyperscaler\u00a0spending, competitive dynamics in China and the cyclicality of semiconductor capital expenditure remain key factors to monitor.\u00a0<\/span><b><span data-contrast=\"auto\">1Q27\u00a0recommended trading range: $150 to $200. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">KLA<\/span><\/b><b><span data-contrast=\"auto\">\u516c\u53f8\uff08<\/span><\/b><b><span data-contrast=\"auto\">KLAC<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"40\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">36.6<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">15.1%<\/span><span data-contrast=\"auto\">\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">6000<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"41\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">1.05<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">0.05<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"42\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u9884\u8ba1\u8425\u6536\u4e3a<\/span><span data-contrast=\"auto\">40<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u4e0a\u4e0b\u6d6e\u52a8<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u9ad8\u4e8e\u5206\u6790\u5e08\u5e73\u5747\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">39.2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff1b\u9884\u8ba1\u8be5\u5b63\u5ea6\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">1.16<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4e0a\u4e0b\u6d6e\u52a8<\/span><span data-contrast=\"auto\">0.10<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4ea6\u9ad8\u4e8e\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">1.14<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"43\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">KLA<\/span><span data-contrast=\"auto\">\u516c\u5e03\u4e86\u7a33\u5065\u7684\u7b2c\u56db\u5b63\u5ea6\u4e1a\u7ee9\uff0c\u8425\u6536\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">15.1%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">36.6<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">1.05<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u53cc\u53cc\u8d85\u51fa\u5e02\u573a\u9884\u671f\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6676\u5706\u4ee3\u5de5\u5382\u548c\u5b58\u50a8\u5236\u9020\u5546\u4e3a<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u5e94\u7528\u6295\u8d44\u5148\u8fdb\u534a\u5bfc\u4f53\u4ea7\u80fd\u6240\u5e26\u6765\u7684\u6301\u7eed\u9700\u6c42\u3002\u516c\u53f8\u8fd8\u53d1\u5e03\u4e86\u5f3a\u4e8e\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u6307\u5f15\uff0c\u9884\u8ba1\u8425\u6536\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">40<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">1.16<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u5bf9\u534a\u5bfc\u4f53\u5236\u9020\u548c\u5de5\u827a\u63a7\u5236\u89e3\u51b3\u65b9\u6848\u7684\u6301\u7eed\u6295\u8d44\u3002\u5c3d\u7ba1\u4e1a\u7ee9\u8d85\u51fa\u9884\u671f\uff0c\u4f46\u7531\u4e8e\u6295\u8d44\u8005\u6b64\u524d\u9884\u671f\u5728\u80a1\u4ef7\u5e74\u521d\u5f3a\u52b2\u4e0a\u6da8\u540e\u4f1a\u6709\u66f4\u5927\u5e45\u5ea6\u7684\u4e0a\u884c\u60ca\u559c\uff0c\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u6709\u6240\u4e0b\u8dcc\u3002<\/span><span data-contrast=\"auto\">KLA<\/span><span data-contrast=\"auto\">\u6709\u671b\u7ee7\u7eed\u53d7\u76ca\u4e8e<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u57fa\u7840\u8bbe\u65bd\u7684\u6301\u7eed\u6269\u5f20\u3001\u534a\u5bfc\u4f53\u8d44\u672c\u652f\u51fa\u7684\u589e\u52a0\u4ee5\u53ca\u5148\u8fdb\u82af\u7247\u5236\u9020\u65e5\u76ca\u589e\u957f\u7684\u590d\u6742\u6027\uff0c\u8fd9\u4e9b\u56e0\u7d20\u5747\u63a8\u52a8\u4e86\u5bf9\u8be5\u516c\u53f8\u5de5\u827a\u63a7\u5236\u548c\u826f\u7387\u7ba1\u7406\u89e3\u51b3\u65b9\u6848\u7684\u9700\u6c42\u3002\u7ba1\u7406\u5c42\u9884\u8ba1\u4e1a\u52a1\u52bf\u5934\u5c06\u5728<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74\u4e0b\u534a\u5e74\u52a0\u901f\u5e76\u5ef6\u7eed\u81f3<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u5e74\uff0c\u5148\u8fdb\u5c01\u88c5\u5c06\u6210\u4e3a\u9664\u524d\u6cbf\u903b\u8f91\u548c\u5b58\u50a8\u6295\u8d44\u4e4b\u5916\u7684\u53c8\u4e00\u589e\u957f\u673a\u9047\u3002\u7136\u800c\uff0c\u6295\u8d44\u8005\u60c5\u7eea\u3001\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u652f\u51fa\u8282\u594f\u3001\u4e2d\u56fd\u5e02\u573a\u7684\u7ade\u4e89\u52a8\u6001\u4ee5\u53ca\u534a\u5bfc\u4f53\u8d44\u672c\u652f\u51fa\u7684\u5468\u671f\u6027\u4ecd\u662f\u9700\u8981\u5173\u6ce8\u7684\u5173\u952e\u56e0\u7d20\u3002<\/span><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">150<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">200<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Visa Inc.\u00a0(V)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"45\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$11.6B<\/span><span data-contrast=\"auto\">,\u00a0+13.7% YoY, beat estimates by $200M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"46\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$3.32, beat estimates by $0.09<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"47\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26 Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Expect\u00a0net revenue growth in the high end of the low double digits,\u00a0similar to\u00a0Q3 on an adjusted basis. Operating expense growth is expected in the low double digits, while EPS growth is expected in the low end of the mid-teens.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"48\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised outlook\u00a0net revenue growth in the low end of the low teens, operating expense growth in the low end of the low teens and EPS growth in the low end of the mid-teens. It also expects full-year non-operating expense of about $165M\u00a0and a tax rate between 18% and 18.25%.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"49\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividend\/Share Buybacks:\u00a0<\/span><\/b><span data-contrast=\"auto\">The company repurchased approximately 14.5M\u00a0shares at an average cost of $330.71 per share,\u00a0totaling\u00a0$4.9B, and had $28.4B\u00a0in remaining authorized funds for share repurchases as of June 30. The board also declared a quarterly cash dividend of $0.670 per share, payable September 1 to holders of record as of August 11.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"50\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">Visa delivered a strong fiscal third quarter, with net revenue rising 14% YoY to US$11.6bn and non-GAAP EPS increasing 11% to US$3.32, supported by resilient consumer and business spending.\u00a0Payments\u00a0volume, processed transactions and cross-border volumes grew 10%, 10% and 13% respectively, while strength across consumer payments, commercial solutions, money movement and value-added services drove broad-based revenue growth. The company also continued returning capital to shareholders through US$6.2bn of share repurchases and dividends. During the quarter, Visa announced plans to reduce approximately 7% of its workforce, primarily across technology and product teams, as it leverages AI and organisational efficiencies to reallocate resources towards higher-growth\u00a0opportunities. Visa remains well-positioned to benefit from the continued shift towards digital payments, resilient global consumer spending and increasing adoption of commercial payments, cross-border transactions and value-added services. Management expects ongoing investments in AI and operational efficiency to support productivity and long-term profitability, while the company\u2019s transaction-based business model provides resilience against credit cycle risks. However, consumer spending trends, cross-border travel activity, regulatory developments and the pace of AI-driven execution remain key factors to monitor.\u00a0<\/span><b><span data-contrast=\"auto\">4Q26 recommended trading range: $320 to $370. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Visa<\/span><\/b><b><span data-contrast=\"auto\">\u516c\u53f8\uff08<\/span><\/b><b><span data-contrast=\"auto\">V<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"36\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">116<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">13.7%<\/span><span data-contrast=\"auto\">\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"36\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">3.32<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">0.09<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"36\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u9884\u8ba1\u51c0\u8425\u6536\u589e\u957f\u5904\u4e8e\u4f4e\u53cc\u4f4d\u6570\u7684\u9ad8\u7aef\uff0c\u7ecf\u8c03\u6574\u540e\u4e0e\u7b2c\u4e09\u5b63\u5ea6\u7c7b\u4f3c\u3002\u9884\u8ba1\u8fd0\u8425\u652f\u51fa\u589e\u957f\u5904\u4e8e\u4f4e\u53cc\u4f4d\u6570\uff0c\u800c\u6bcf\u80a1\u6536\u76ca\u589e\u957f\u9884\u8ba1\u5904\u4e8e\u4e2d\u53cc\u4f4d\u6570\u7684\u4f4e\u7aef\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"36\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5c55\u671b\uff0c\u9884\u8ba1\u51c0\u8425\u6536\u589e\u957f\u5904\u4e8e\u4f4e\u53cc\u4f4d\u6570\u7684\u4f4e\u7aef\uff0c\u8fd0\u8425\u652f\u51fa\u589e\u957f\u5904\u4e8e\u4f4e\u53cc\u4f4d\u6570\u7684\u4f4e\u7aef\uff0c\u6bcf\u80a1\u6536\u76ca\u589e\u957f\u5904\u4e8e\u4e2d\u53cc\u4f4d\u6570\u7684\u4f4e\u7aef\u3002\u516c\u53f8\u8fd8\u9884\u8ba1\u5168\u5e74\u975e\u8fd0\u8425\u652f\u51fa\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">1.65<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u7a0e\u7387\u5728<\/span><span data-contrast=\"auto\">18%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">18.25%<\/span><span data-contrast=\"auto\">\u4e4b\u95f4\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"36\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f<\/span><\/b><b><span data-contrast=\"auto\">\/<\/span><\/b><b><span data-contrast=\"auto\">\u80a1\u7968\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u516c\u53f8\u56de\u8d2d\u4e86\u7ea6<\/span><span data-contrast=\"auto\">1450<\/span><span data-contrast=\"auto\">\u4e07\u80a1\uff0c\u5e73\u5747\u6210\u672c\u4e3a\u6bcf\u80a1<\/span><span data-contrast=\"auto\">330.71<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u603b\u8ba1<\/span><span data-contrast=\"auto\">49<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff1b\u622a\u81f3<\/span><span data-contrast=\"auto\">6<\/span><span data-contrast=\"auto\">\u6708<\/span><span data-contrast=\"auto\">30<\/span><span data-contrast=\"auto\">\u65e5\uff0c\u5269\u4f59\u6388\u6743\u56de\u8d2d\u8d44\u91d1\u4e3a<\/span><span data-contrast=\"auto\">284<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u8463\u4e8b\u4f1a\u8fd8\u5ba3\u5e03\u6bcf\u80a1\u5b63\u5ea6\u73b0\u91d1\u80a1\u606f<\/span><span data-contrast=\"auto\">0.670<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5c06\u4e8e<\/span><span data-contrast=\"auto\">9<\/span><span data-contrast=\"auto\">\u6708<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\u65e5\u6d3e\u53d1\u7ed9<\/span><span data-contrast=\"auto\">8<\/span><span data-contrast=\"auto\">\u6708<\/span><span data-contrast=\"auto\">11<\/span><span data-contrast=\"auto\">\u65e5\u767b\u8bb0\u5728\u518c\u7684\u80a1\u4e1c\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"36\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">Visa<\/span><span data-contrast=\"auto\">\u7b2c\u4e09\u8d22\u5b63\u4e1a\u7ee9\u5f3a\u52b2\uff0c\u51c0\u8425\u6536\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">14%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">116<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\u589e\u957f<\/span><span data-contrast=\"auto\">11%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">3.32<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8fd9\u5f97\u76ca\u4e8e\u6d88\u8d39\u8005\u548c\u4f01\u4e1a\u652f\u51fa\u7684\u97e7\u6027\u3002\u652f\u4ed8\u91cf\u3001\u5904\u7406\u4ea4\u6613\u7b14\u6570\u548c\u8de8\u5883\u4ea4\u6613\u91cf\u5206\u522b\u589e\u957f<\/span><span data-contrast=\"auto\">10%\u300110%<\/span><span data-contrast=\"auto\">\u548c<\/span><span data-contrast=\"auto\">13%<\/span><span data-contrast=\"auto\">\uff0c\u800c\u6d88\u8d39\u8005\u652f\u4ed8\u3001\u5546\u4e1a\u89e3\u51b3\u65b9\u6848\u3001\u8d44\u91d1\u6d41\u8f6c\u548c\u589e\u503c\u670d\u52a1\u7684\u5168\u9762\u5f3a\u52b2\u8868\u73b0\u63a8\u52a8\u4e86\u5e7f\u6cdb\u7684\u6536\u5165\u589e\u957f\u3002\u516c\u53f8\u8fd8\u7ee7\u7eed\u901a\u8fc7<\/span><span data-contrast=\"auto\">62<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u7684\u80a1\u7968\u56de\u8d2d\u548c\u80a1\u606f\u5411\u80a1\u4e1c\u8fd4\u8fd8\u8d44\u672c\u3002\u672c\u5b63\u5ea6\uff0c<\/span><span data-contrast=\"auto\">Visa<\/span><span data-contrast=\"auto\">\u5ba3\u5e03\u8ba1\u5212\u88c1\u5458\u7ea6<\/span><span data-contrast=\"auto\">7%<\/span><span data-contrast=\"auto\">\uff0c\u4e3b\u8981\u96c6\u4e2d\u5728\u6280\u672f\u548c\u4ea7\u54c1\u56e2\u961f\uff0c\u56e0\u4e3a\u516c\u53f8\u6b63\u5229\u7528<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u548c\u7ec4\u7ec7\u6548\u7387\u5c06\u8d44\u6e90\u91cd\u65b0\u914d\u7f6e\u5230\u66f4\u9ad8\u589e\u957f\u7684\u673a\u4f1a\u4e0a\u3002<\/span><span data-contrast=\"auto\">Visa<\/span><span data-contrast=\"auto\">\u6709\u671b\u7ee7\u7eed\u53d7\u76ca\u4e8e\u6570\u5b57\u652f\u4ed8\u7684\u6301\u7eed\u8f6c\u578b\u3001\u5168\u7403\u6d88\u8d39\u8005\u652f\u51fa\u7684\u97e7\u6027\u4ee5\u53ca\u5546\u4e1a\u652f\u4ed8\u3001\u8de8\u5883\u4ea4\u6613\u548c\u589e\u503c\u670d\u52a1\u7684\u65e5\u76ca\u666e\u53ca\u3002\u7ba1\u7406\u5c42\u9884\u8ba1\uff0c\u5bf9<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u548c\u8fd0\u8425\u6548\u7387\u7684\u6301\u7eed\u6295\u8d44\u5c06\u652f\u6301\u751f\u4ea7\u7387\u548c\u957f\u671f\u76c8\u5229\u80fd\u529b\uff0c\u800c\u516c\u53f8\u57fa\u4e8e\u4ea4\u6613\u7684\u5546\u4e1a\u6a21\u5f0f\u4f7f\u5176\u80fd\u591f\u62b5\u5fa1\u4fe1\u8d37\u5468\u671f\u98ce\u9669\u3002\u7136\u800c\uff0c\u6d88\u8d39\u8005\u652f\u51fa\u8d8b\u52bf\u3001\u8de8\u5883\u65c5\u884c\u6d3b\u52a8\u3001\u76d1\u7ba1\u53d1\u5c55\u4ee5\u53ca<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u6267\u884c\u7684\u6b65\u4f10\u4ecd\u662f\u9700\u8981\u5173\u6ce8\u7684\u5173\u952e\u56e0\u7d20\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">320<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">370<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Teradyne Inc.\u00a0(TER)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"51\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$1.33B<\/span><span data-contrast=\"auto\">,\u00a0+104.1% YoY, beat estimates by $110M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"52\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$2.47, beat estimates by $0.42<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"53\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26\u00a0Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Expect\u00a0revenue of $1.2B\u00a0to $1.3B, above the consensus estimate of $1.026B\u00a0and\u00a0adjusted earnings in the range of $1.85 to $2.15 per share for the quarter, also ahead of an estimate of $1.53.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"54\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">Teradyne delivered another record quarter, with Q2 revenue more than doubling YoY to US$1.33bn and adjusted EPS of US$2.47, comfortably\u00a0exceeding market expectations, driven by robust AI-related semiconductor demand and record memory test revenue supported by strong DRAM demand and a recovery in NAND final test. The company\u2019s Semiconductor Test segment remained the key growth driver, while Product Test and Robotics also contributed to overall performance. Management issued well-above-consensus Q3 guidance, forecasting revenue of US$1.20bn-1.30bn and adjusted EPS of US$1.85-2.15, reflecting continued strength in AI-driven chip testing demand and increasing investment in wafer fabrication equipment.\u00a0Teradyne is well-positioned to benefit from the continued expansion of AI infrastructure, increasing semiconductor complexity and rising investment in wafer fabrication equipment, all of which are driving demand for advanced automated test equipment. Management expects AI-related demand to remain robust in the near term, while accelerating wafer fab investments provide a favourable backdrop for sustained growth into 2027 and beyond. However, the pace of semiconductor capital expenditure, memory market conditions and broader industry cyclicality remain key factors that could influence future growth.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $340\u00a0to $400.\u00a0Neutral\u00a0Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">\u6cf0\u745e\u8fbe\u516c\u53f8\uff08<\/span><\/b><b><span data-contrast=\"auto\">TER<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"37\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">13.3<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">104.1%<\/span><span data-contrast=\"auto\">\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">1.1<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"37\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">2.47<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">0.42<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"37\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u9884\u8ba1\u8425\u6536\u4e3a<\/span><span data-contrast=\"auto\">12<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">13<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">10.26<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff1b\u9884\u8ba1\u8be5\u5b63\u5ea6\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">1.85<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">2.15<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4ea6\u9ad8\u4e8e\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">1.53<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"37\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u6cf0\u745e\u8fbe\u518d\u6b21\u521b\u4e0b\u7eaa\u5f55\u5b63\u5ea6\uff0c\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u7ffb\u500d\u6709\u4f59\u81f3<\/span><span data-contrast=\"auto\">13.3<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">2.47<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8f7b\u677e\u8d85\u51fa\u5e02\u573a\u9884\u671f\uff0c\u8fd9\u5f97\u76ca\u4e8e\u5f3a\u52b2\u7684<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u76f8\u5173\u534a\u5bfc\u4f53\u9700\u6c42\u4ee5\u53ca\u521b\u7eaa\u5f55\u7684\u5b58\u50a8\u6d4b\u8bd5\u6536\u5165\uff0c\u540e\u8005\u53d7<\/span><span data-contrast=\"auto\">DRAM<\/span><span data-contrast=\"auto\">\u9700\u6c42\u5f3a\u52b2\u548c<\/span><span data-contrast=\"auto\">NAND<\/span><span data-contrast=\"auto\">\u6700\u7ec8\u6d4b\u8bd5\u590d\u82cf\u7684\u652f\u6491\u3002\u516c\u53f8\u534a\u5bfc\u4f53\u6d4b\u8bd5\u90e8\u95e8\u4ecd\u662f\u5173\u952e\u589e\u957f\u9a71\u52a8\u529b\uff0c\u540c\u65f6\u4ea7\u54c1\u6d4b\u8bd5\u548c\u673a\u5668\u4eba\u4e1a\u52a1\u4e5f\u4e3a\u6574\u4f53\u4e1a\u7ee9\u505a\u51fa\u8d21\u732e\u3002\u7ba1\u7406\u5c42\u53d1\u5e03\u4e86\u8fdc\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u7684\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff0c\u9884\u8ba1\u8425\u6536\u4e3a<\/span><span data-contrast=\"auto\">12<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">13<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">1.85<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">2.15<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u53cd\u6620\u51fa<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u7684\u82af\u7247\u6d4b\u8bd5\u9700\u6c42\u6301\u7eed\u5f3a\u52b2\u4ee5\u53ca\u6676\u5706\u5236\u9020\u8bbe\u5907\u6295\u8d44\u4e0d\u65ad\u589e\u52a0\u3002\u6cf0\u745e\u8fbe\u6709\u671b\u7ee7\u7eed\u53d7\u76ca\u4e8e<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u57fa\u7840\u8bbe\u65bd\u7684\u6301\u7eed\u6269\u5f20\u3001\u534a\u5bfc\u4f53\u590d\u6742\u6027\u7684\u63d0\u5347\u4ee5\u53ca\u6676\u5706\u5236\u9020\u8bbe\u5907\u6295\u8d44\u7684\u589e\u52a0\uff0c\u6240\u6709\u8fd9\u4e9b\u56e0\u7d20\u90fd\u5728\u63a8\u52a8\u5bf9\u5148\u8fdb\u81ea\u52a8\u5316\u6d4b\u8bd5\u8bbe\u5907\u7684\u9700\u6c42\u3002\u7ba1\u7406\u5c42\u9884\u8ba1\u8fd1\u671f<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u76f8\u5173\u9700\u6c42\u5c06\u4fdd\u6301\u5f3a\u52b2\uff0c\u540c\u65f6\u52a0\u901f\u7684\u6676\u5706\u5382\u6295\u8d44\u4e3a<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u5e74\u53ca\u4ee5\u540e\u7684\u6301\u7eed\u589e\u957f\u63d0\u4f9b\u4e86\u6709\u5229\u80cc\u666f\u3002\u7136\u800c\uff0c\u534a\u5bfc\u4f53\u8d44\u672c\u652f\u51fa\u8282\u594f\u3001\u5b58\u50a8\u5e02\u573a\u72b6\u51b5\u4ee5\u53ca\u66f4\u5e7f\u6cdb\u7684\u884c\u4e1a\u5468\u671f\u6027\u4ecd\u662f\u53ef\u80fd\u5f71\u54cd\u672a\u6765\u589e\u957f\u7684\u5173\u952e\u56e0\u7d20\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">340<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">400<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Ford Motor Co.\u00a0(F)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"55\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Revenue:\u00a0<\/span><\/b><span data-contrast=\"auto\">$48.3B<\/span><span data-contrast=\"auto\">,\u00a0beat\u00a0estimates by $2.83B<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"56\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26\u00a0Non-GAAP\u00a0EPS<\/span><\/b><span data-contrast=\"auto\">:\u00a0<\/span><span data-contrast=\"auto\">$0.42, beat estimates by $0.07<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"57\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:<\/span><\/b><span data-contrast=\"auto\">\u00a0Raised\u00a0full-year\u00a0adjusted EBIT\u00a0to\u00a0between $10B\u00a0and $11B, up from $8.5B\u00a0to $10.5B. It also raised its expectations for adjusted free cash flow to $6B\u00a0to $7B, up from $5B\u00a0to $6B.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"58\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buyback:\u00a0<\/span><\/b><span data-contrast=\"auto\">Declared $0.15\/share quarterly dividend, in line with previous, payable on 1 September.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"59\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:\u00a0<\/span><\/b><span data-contrast=\"auto\">Ford delivered a stronger-than-expected second quarter, with adjusted EPS of US$0.42 beating consensus despite automotive revenue of US$44.89bn coming in below expectations and total revenue declining 4% YoY to US$48.3bn. Performance was supported by operational improvements, resilient pricing and a favourable mix of higher-margin vehicles, while Ford also benefited from progress in restoring F-Series production and containing material and warranty costs. Although the company reported a US$1.3bn net loss due largely to US$4.2bn of one-off charges related to its electric-vehicle restructuring, management raised FY2026 guidance for adjusted EBIT to US$10bn-11bn and adjusted free cash flow to US$6bn-7bn, while narrowing expected Model e losses to approximately US$4bn. Looking ahead, Ford should benefit from normalising F-Series production, continued cost reductions, lower EV losses and strength in its traditional and fleet businesses, although execution on its restructuring, recall-related costs, tariff exposure and any weakening in vehicle demand remain key risks to the earnings recovery.\u00a0<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $14\u00a0to $17. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">\u798f\u7279\u6c7d\u8f66\u516c\u53f8\uff08<\/span><\/b><b><span data-contrast=\"auto\">F<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><b><span data-contrast=\"auto\">b<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.42<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u4f18\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">0.07<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5c06\u5168\u5e74\u8c03\u6574\u540e\u606f\u7a0e\u524d\u5229\u6da6\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">100<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">110<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u6b64\u524d\u4e3a<\/span><span data-contrast=\"auto\">85<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">105<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u540c\u65f6\u5c06\u8c03\u6574\u540e\u81ea\u7531\u73b0\u91d1\u6d41\u9884\u671f\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">60<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">70<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u6b64\u524d\u4e3a<\/span><span data-contrast=\"auto\">50<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">60<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f<\/span><\/b><b><span data-contrast=\"auto\">\/<\/span><\/b><b><span data-contrast=\"auto\">\u80a1\u7968\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5ba3\u5e03\u6bcf\u80a1<\/span><span data-contrast=\"auto\">0.15<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u5b63\u5ea6\u80a1\u606f\uff0c\u4e0e\u6b64\u524d\u6301\u5e73\uff0c\u5c06\u4e8e<\/span><span data-contrast=\"auto\">9<\/span><span data-contrast=\"auto\">\u6708<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\u65e5\u6d3e\u53d1\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u798f\u7279\u6c7d\u8f66\u7b2c\u4e8c\u5b63\u5ea6\u4e1a\u7ee9\u5f3a\u4e8e\u9884\u671f\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">0.42<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u5e02\u573a\u5171\u8bc6\uff0c\u5c3d\u7ba1\u6c7d\u8f66\u4e1a\u52a1\u8425\u6536<\/span><span data-contrast=\"auto\">448.9<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4f4e\u4e8e\u9884\u671f\uff0c\u4e14\u603b\u8425\u6536\u540c\u6bd4\u4e0b\u964d<\/span><span data-contrast=\"auto\">4%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">483<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u4e1a\u7ee9\u5f97\u76ca\u4e8e\u8fd0\u8425\u6539\u5584\u3001\u5b9a\u4ef7\u4fdd\u6301\u97e7\u6027\u4ee5\u53ca\u9ad8\u5229\u6da6\u8f66\u578b\u6709\u5229\u7684\u4ea7\u54c1\u7ec4\u5408\uff0c\u540c\u65f6\u798f\u7279\u5728\u6062\u590d<\/span><span data-contrast=\"auto\">F<\/span><span data-contrast=\"auto\">\u7cfb\u5217\u76ae\u5361\u751f\u4ea7\u548c\u63a7\u5236\u6750\u6599\u53ca\u4fdd\u4fee\u6210\u672c\u65b9\u9762\u4e5f\u53d6\u5f97\u8fdb\u5c55\u3002\u5c3d\u7ba1\u516c\u53f8\u62a5\u544a\u51c0\u4e8f\u635f<\/span><span data-contrast=\"auto\">13<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u4e3b\u8981\u4e0e\u7535\u52a8\u6c7d\u8f66\u4e1a\u52a1\u91cd\u7ec4\u76f8\u5173\u7684<\/span><span data-contrast=\"auto\">42<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e00\u6b21\u6027\u8d39\u7528\u6709\u5173\uff0c\u4f46\u7ba1\u7406\u5c42\u5c06<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u8c03\u6574\u540e\u606f\u7a0e\u524d\u5229\u6da6\u6307\u5f15\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">100<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">110<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u81ea\u7531\u73b0\u91d1\u6d41\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">60<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">70<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u65f6\u5c06<\/span><span data-contrast=\"auto\">Model e<\/span><span data-contrast=\"auto\">\u9884\u671f\u4e8f\u635f\u6536\u7a84\u81f3\u7ea6<\/span><span data-contrast=\"auto\">40<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u5c55\u671b\u672a\u6765\uff0c\u798f\u7279\u5e94\u80fd\u53d7\u76ca\u4e8e<\/span><span data-contrast=\"auto\">F<\/span><span data-contrast=\"auto\">\u7cfb\u5217\u76ae\u5361\u751f\u4ea7\u7684\u6b63\u5e38\u5316\u3001\u6301\u7eed\u7684\u6210\u672c\u524a\u51cf\u3001\u7535\u52a8\u6c7d\u8f66\u4e8f\u635f\u964d\u4f4e\u4ee5\u53ca\u4f20\u7edf\u4e1a\u52a1\u548c\u8f66\u961f\u4e1a\u52a1\u7684\u5f3a\u52b2\u8868\u73b0\uff0c\u5c3d\u7ba1\u91cd\u7ec4\u6267\u884c\u3001\u53ec\u56de\u76f8\u5173\u6210\u672c\u3001\u5173\u7a0e\u98ce\u9669\u4ee5\u53ca\u6c7d\u8f66\u9700\u6c42\u53ef\u80fd\u51fa\u73b0\u7684\u4efb\u4f55\u75b2\u8f6f\u4ecd\u662f\u76c8\u5229\u590d\u82cf\u7684\u5173\u952e\u98ce\u9669\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">14<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">17<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6ff17fbc e-con e-atomic-element e-flexbox-base e-6ff17fbc-c4ddb64 \" data-id=\"6ff17fbc\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"6ff17fbc\" data-e-type=\"e-flexbox\" data-id=\"6ff17fbc\">\n    \t\t\t<p class=\"e-262c95ac-f5069e1 e-paragraph-base\" data-interaction-id=\"262c95ac\" data-e-type=\"widget\" data-id=\"262c95ac\"><a target=\"_self\" href=\"#top\" id=\"e-mq4jsug1-z6kdzol\">^ Back to Top<\/a><\/p>\n\t\t\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>TECHNICAL ANALYSIS SINGAPORE \u00a0|\u00a0 HONG KONG \u00a0|\u00a0 UNITED STATES\u00a0\u00a0|\u00a0\u00a0EARNINGS Singapore THBEV SP Thai Beverage Public Co., Ltd Shares closed above the 5dEMA\u00a0with an increase in volume.\u00a0 Both RSI and MACD are constructive.\u00a0 Buy \u2013 Entry\u00a00.44, Target\u00a00.50, Stop\u00a00.41\u00a0 PROP SP PropNex Ltd. Shares closed above the 5dEMA\u00a0with rising volume.\u00a0 Both RSI and MACD are constructive.\u00a0 Buy [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-92842","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 29 July 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore THBEV SP Thai Beverage Public Co., Ltd Shares closed above the 5dEMA with an increase in volume. Both RSI and MACD are constructive. Buy \u2013 Entry 0.44, Target 0.50, Stop 0.41 PROP SP PropNex Ltd. Shares closed above the 5dEMA with rising volume. Both RSI\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Enya Tan\"\/>\n\t<meta name=\"keywords\" content=\"technical analysis\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.kgieworld.sg\/research\/technical-analysis-29-july-2026\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"KGI Singapore Research \u2022 Singapore&#039;s leading broker offering Futures, FX, Equities and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Technical Analysis: 29 July 2026 \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og:description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 29 July 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore THBEV SP Thai Beverage Public Co., Ltd Shares closed above the 5dEMA with an increase in volume. 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