{"id":93121,"date":"2026-08-06T08:00:08","date_gmt":"2026-08-06T00:00:08","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=93121"},"modified":"2026-08-06T15:01:22","modified_gmt":"2026-08-06T07:01:22","slug":"technical-analysis-6-august-2026","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-6-august-2026\/","title":{"rendered":"Technical Analysis: 6 August 2026"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"93121\" class=\"elementor elementor-93121\" 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: 6 August 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;,&quot;animation_mobile&quot;:&quot;fadeInUp&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;\">SPLG SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Singapore Land Group Limited.<\/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=\"26\" 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 rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"26\" 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.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"26\" 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\u00a03.40, Target\u00a03.90, Stop\u00a03.15<\/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=\"1800\" height=\"1068\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.47.33-PM.png\" class=\"attachment-full size-full wp-image-93130\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.47.33-PM.png 1800w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.47.33-PM-300x178.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.47.33-PM-1024x608.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.47.33-PM-768x456.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.47.33-PM-1536x911.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/>\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;,&quot;animation_mobile&quot;:&quot;fadeInUp&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;\">CENT SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Centurion Corporation Limited.<\/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=\"26\" 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=\"26\" 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.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"26\" 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\u00a01.60,\u00a0Target\u00a01.76, Stop\u00a01.52<\/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=\"1802\" height=\"1070\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.48.17-PM.png\" class=\"attachment-full size-full wp-image-93131\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.48.17-PM.png 1802w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.48.17-PM-300x178.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.48.17-PM-1024x608.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.48.17-PM-768x456.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.48.17-PM-1536x912.png 1536w\" sizes=\"(max-width: 1802px) 100vw, 1802px\" \/>\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-dd4939c e-flex e-con-boxed e-con e-parent\" data-id=\"dd4939c\" 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-21f7cb3 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"21f7cb3\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b45698 elementor-widget elementor-widget-text-editor\" data-id=\"2b45698\" 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;\">6160 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">BeOne Medicines Ltd.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a91a36d elementor-widget elementor-widget-text-editor\" data-id=\"a91a36d\" 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=\"19\" 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\u00a05dEMA with rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"19\" 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=\"19\" 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\u00a0195,\u00a0Target\u00a0213,\u00a0Stop\u00a0186<\/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-38e94c1 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"38e94c1\" 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-bfa23fb elementor-widget elementor-widget-image\" data-id=\"bfa23fb\" 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=\"1798\" height=\"1082\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.17-PM.png\" class=\"attachment-full size-full wp-image-93132\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.17-PM.png 1798w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.17-PM-300x181.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.17-PM-1024x616.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.17-PM-768x462.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.17-PM-1536x924.png 1536w\" sizes=\"(max-width: 1798px) 100vw, 1798px\" \/>\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-7b8022e e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"7b8022e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d6b8373 elementor-widget elementor-widget-text-editor\" data-id=\"d6b8373\" 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;\">1801 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Innovent Biologics, Inc.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d33577d elementor-widget elementor-widget-text-editor\" data-id=\"d33577d\" 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=\"19\" 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 closed\u00a0above\u00a0the 5dEMA, 10dEMA, 20dEMA, and\u00a0100dEMA\u00a0with rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"19\" 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.\u00a0\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=\"19\" 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\u00a089, Target\u00a0105, Stop\u00a081<\/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-994114a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"994114a\" 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-cd858b1 elementor-widget elementor-widget-image\" data-id=\"cd858b1\" 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=\"1798\" height=\"1084\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.46-PM.png\" class=\"attachment-full size-full wp-image-93133\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.46-PM.png 1798w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.46-PM-300x181.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.46-PM-1024x617.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.46-PM-768x463.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-05-at-11.49.46-PM-1536x926.png 1536w\" sizes=\"(max-width: 1798px) 100vw, 1798px\" \/>\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;,&quot;animation_mobile&quot;:&quot;fadeInUp&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;\">FTV US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Fortive Corporation.<\/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=\"4\" 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.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" 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\">RSI\u00a0is\u00a0constructive and\u00a0MACD\u00a0is\u00a0about to turn positive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" 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\u00a060,\u00a0Target\u00a064,\u00a0Stop\u00a058<\/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=\"907\" height=\"540\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.02-PM.png\" class=\"attachment-full size-full wp-image-93146\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.02-PM.png 907w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.02-PM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.02-PM-768x457.png 768w\" sizes=\"(max-width: 907px) 100vw, 907px\" \/>\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;,&quot;animation_mobile&quot;:&quot;fadeInUp&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;\">AXON US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Axon Enterprise, 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 rising 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\u00a0600,\u00a0Target\u00a0660,\u00a0Stop\u00a0570<\/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=\"905\" height=\"544\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.35-PM.png\" class=\"attachment-full size-full wp-image-93147\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.35-PM.png 905w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.35-PM-300x180.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-06-at-2.58.35-PM-768x462.png 768w\" sizes=\"(max-width: 905px) 100vw, 905px\" \/>\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\">Eli Lilly and Company (LLY)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$23B<\/span><span data-contrast=\"auto\">,&nbsp;+47.8% YoY,&nbsp;beat&nbsp;estimates&nbsp;by&nbsp;<\/span><span data-contrast=\"auto\">$2.31B<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">\u202f$8.38,&nbsp;beat&nbsp;estimates&nbsp;by\u202f$1.80<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Raised FY26 revenue guidance to US$85B\u2013US$87B&nbsp;from US$82B\u2013US$85B.&nbsp;Management&nbsp;continues to expect robust demand for obesity and diabetes therapies, supported by international expansion and the launch of oral GLP-1 therapy&nbsp;Foundayo.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Maintained&nbsp;its quarterly dividend.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">This was another outstanding quarter. Revenue increased 48% as Mounjaro generated US$9.94B and Zepbound contributed US$4.93B, together accounting for&nbsp;nearly two-thirds&nbsp;of company revenue. Lilly continues to widen its lead in the GLP-1 market through superior efficacy, broader&nbsp;reimbursement&nbsp;and expanding manufacturing capacity. Oncology and neuroscience franchises also contributed positively, providing diversification beyond obesity. The principal issue is valuation rather than fundamentals. Expectations are now exceptionally high after another guidance increase, while capital spending and manufacturing expansion remain elevated to meet demand. Investors will also&nbsp;monitor&nbsp;the commercial ramp of oral GLP-1&nbsp;Foundayo, competitive responses from Novo Nordisk, and the durability of pricing as payer coverage expands. Shares rose&nbsp;approximately 5%\u20137% following the earnings release. The key variables are manufacturing capacity expansion, sustained Zepbound and Mounjaro prescription growth,&nbsp;Foundayo&nbsp;adoption, reimbursement trends, and progress across Lilly&#8217;s late-stage obesity and Alzheimer&#8217;s pipelines.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26&nbsp;recommended trading range: $1000&nbsp;to $1400.&nbsp;Neutral&nbsp;Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Eli Lilly and&nbsp;Company\uff08LLY<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&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\">230<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">47.8%<\/span><span data-contrast=\"auto\">\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">23.1<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\">8.38<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">1.80<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\">\u8425\u6536\u6307\u5f15\u63d0\u5347\u81f3<\/span><span data-contrast=\"auto\">850<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">870<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff08\u539f\u4e3a<\/span><span data-contrast=\"auto\">820<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">850<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff09\uff0c\u4e3b\u56e0\u80a5\u80d6\u75c7\u4e0e\u7cd6\u5c3f\u75c5\u836f\u7269\u9700\u6c42\u5f3a\u52b2\u3001\u56fd\u9645\u5e02\u573a\u6269\u5f20\u53ca\u53e3\u670d<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u7597\u6cd5<\/span><span data-contrast=\"auto\">Foundayo<\/span><span data-contrast=\"auto\">\u4e0a\u5e02<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\uff1a<\/span><\/b><span data-contrast=\"auto\">\u7ef4\u6301\u5b63\u5ea6\u80a1\u606f\u4e0d\u53d8<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\u518d\u6b21\u5c55\u73b0\u5353\u8d8a\u589e\u957f\uff0c\u5de9\u56fa<\/span><span data-contrast=\"auto\">Lilly<\/span><span data-contrast=\"auto\">\u5728\u4ee3\u8c22\u75be\u75c5\u9886\u57df\u7684\u7edd\u5bf9\u9886\u5bfc\u5730\u4f4d\u3002<\/span><span data-contrast=\"auto\">Mounjaro<\/span><span data-contrast=\"auto\">\uff08\u66ff\u5c14\u6cca\u80bd\uff0c\u7cd6\u5c3f\u75c5\uff09\u548c<\/span><span data-contrast=\"auto\">Zepbound<\/span><span data-contrast=\"auto\">\uff08\u540c\u6210\u5206\uff0c\u80a5\u80d6\u75c7\uff09\u5408\u8ba1\u8d21\u732e<\/span><span data-contrast=\"auto\">148.7<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u6536\u5165\uff0c\u5360\u516c\u53f8\u603b\u8425\u6536\u8fd1<\/span><span data-contrast=\"auto\">65%<\/span><span data-contrast=\"auto\">\u3002\u51ed\u501f\u66f4\u4f18\u7597\u6548\u6570\u636e\u3001\u5e7f\u6cdb\u533b\u4fdd\u8986\u76d6\u53ca\u5feb\u901f\u6269\u4ea7\u80fd\u529b\uff0c<\/span><span data-contrast=\"auto\">Lilly<\/span><span data-contrast=\"auto\">\u6b63\u6301\u7eed\u62c9\u5927\u4e0e\u8bfa\u548c\u8bfa\u5fb7\uff08<\/span><span data-contrast=\"auto\">Novo Nordisk<\/span><span data-contrast=\"auto\">\uff09\u7684<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u7ade\u4e89\u5dee\u8ddd\u3002\u6b64\u5916\uff0c\u80bf\u7624\u5b66\u4e0e\u795e\u7ecf\u79d1\u5b66\u7ba1\u7ebf\uff08\u5982<\/span><span data-contrast=\"auto\">Alzheimer\u2019s<\/span><span data-contrast=\"auto\">\u836f\u7269<\/span><span data-contrast=\"auto\">donanemab<\/span><span data-contrast=\"auto\">\uff09\u4ea6\u8d21\u732e\u7a33\u5065\u589e\u957f\uff0c\u63d0\u4f9b\u91cd\u8981\u591a\u5143\u5316\u652f\u6491\u3002\u7136\u800c\uff0c\u6838\u5fc3\u6311\u6218\u5df2\u4ece\u201c\u589e\u957f\u80fd\u5426\u6301\u7eed\u201d\u8f6c\u5411\u201c\u4f30\u503c\u662f\u5426\u8fc7\u9ad8\u201d\uff1a\u80a1\u4ef7\u5728\u8fc7\u53bb\u4e00\u5e74\u5927\u5e45\u4e0a\u6da8\uff0c\u5e02\u573a\u5bf9<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u957f\u671f\u6e17\u900f\u7387\u3001\u5b9a\u4ef7\u6743\u53ca\u4ea7\u80fd\u5151\u73b0\u62b1\u6709\u6781\u9ad8\u9884\u671f\uff1b\u516c\u53f8\u4ecd\u5728\u9ad8\u5f3a\u5ea6\u6295\u5165\u5236\u9020\u4e0e\u4f9b\u5e94\u94fe\u5efa\u8bbe\uff08<\/span><span data-contrast=\"auto\">26<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u8d44\u672c\u5f00\u652f\u9884\u8ba1\u8d85<\/span><span data-contrast=\"auto\">100<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff09\uff0c\u77ed\u671f\u538b\u5236\u81ea\u7531\u73b0\u91d1\u6d41\uff1b\u6295\u8d44\u8005\u5bc6\u5207\u5173\u6ce8\u53e3\u670d<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u836f\u7269<\/span><span data-contrast=\"auto\">Foundayo<\/span><span data-contrast=\"auto\">\u7684\u5546\u4e1a\u5316\u8fdb\u5c55\u3001<\/span><span data-contrast=\"auto\">** payer<\/span><span data-contrast=\"auto\">\uff08\u533b\u4fdd<\/span><span data-contrast=\"auto\">\/<\/span><span data-contrast=\"auto\">\u5546\u4fdd\uff09\u5bf9\u9ad8\u4ef7\u80a5\u80d6\u836f\u7684\u8986\u76d6\u53ef\u6301\u7eed\u6027<\/span><span data-contrast=\"auto\">**<\/span><span data-contrast=\"auto\">\uff0c\u4ee5\u53ca\u8bfa\u548c\u8bfa\u5fb7\u7684\u7ade\u4e89\u53cd\u5236\uff08\u5982<\/span><span data-contrast=\"auto\">CagriSema<\/span><span data-contrast=\"auto\">\u7b49\u4e0b\u4e00\u4ee3\u4ea7\u54c1\uff09\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8<\/span><span data-contrast=\"auto\">5%\u20137%<\/span><span data-contrast=\"auto\">\uff0c\u53cd\u6620\u5e02\u573a\u8ba4\u53ef\u5176\u57fa\u672c\u9762\u5f3a\u5ea6\uff0c\u4f46\u6da8\u5e45\u53d7\u9650\u4e8e\u9ad8\u4f30\u503c\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u5168\u7403\u751f\u4ea7\u57fa\u5730\u80fd\u5426\u6309\u8ba1\u5212\u91ca\u653e\u4ea7\u80fd\u4ee5\u6ee1\u8db3\u7206\u70b8\u6027\u9700\u6c42\uff1b\uff08<\/span><span data-contrast=\"auto\">2\uff09Zepbound\/Mounjaro<\/span><span data-contrast=\"auto\">\u5904\u65b9\u91cf\u662f\u5426\u7ef4\u6301\u9ad8\u53cc\u4f4d\u6570\u589e\u957f\uff1b\uff08<\/span><span data-contrast=\"auto\">3\uff09Foundayo<\/span><span data-contrast=\"auto\">\u4f5c\u4e3a\u9996\u6b3e\u53e3\u670d<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u80fd\u5426\u5b9e\u73b0\u5feb\u901f\u653e\u91cf\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u533b\u4fdd\u8c08\u5224\u4e2d\u4ef7\u683c\u538b\u529b\u662f\u5426\u52a0\u5267\uff1b\uff08<\/span><span data-contrast=\"auto\">5\uff09Alzheimer\u2019s<\/span><span data-contrast=\"auto\">\u3001\u80a5\u80d6\u75c7\u65b0\u9002\u5e94\u75c7\u7b49\u540e\u671f\u7ba1\u7ebf\u8bfb\u51fa\u7ed3\u679c\u3002<\/span><span data-contrast=\"auto\">Lilly<\/span><span data-contrast=\"auto\">\u6b63\u5904\u4e8e\u201c\u9ec4\u91d1\u5341\u5e74\u201d\u7684\u8d77\u70b9\uff0c<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u5e73\u53f0\u5177\u5907\u5e73\u53f0\u578b\u836f\u7269\u6f5c\u529b\u3002\u4f46\u5f53\u524d\u4f30\u503c\u5df2\u5145\u5206\u53cd\u6620\u4e50\u89c2\u60c5\u666f\uff0c\u8fdb\u4e00\u6b65\u4e0a\u884c\u9700\u6301\u7eed\u8d85\u9884\u671f\u5151\u73b0\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\">1000<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">1400<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Shopify&nbsp;Inc. (SHOP)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$3.58B<\/span><span data-contrast=\"auto\">,&nbsp;+33.6% YoY,&nbsp;beat&nbsp;estimates&nbsp;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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"10\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;net income<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$1.5B<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"11\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Management expects Q3 revenue growth in the low-30% range and gross profit growth in the mid-to-high 20% range, both above Wall Street expectations. Free cash flow margin is also expected to remain healthy despite continued AI investment.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">This was an outstanding beat-and-raise quarter. Revenue, GMV, gross profit and adjusted EPS all exceeded expectations, while merchant solutions revenue grew 37% and subscription revenue continued to expand steadily. AI is proving to be a growth accelerator rather than a disruption, with the Sidekick AI assistant seeing a 3.6x increase in daily active users and driving higher merchant engagement. The biggest positive was management&#8217;s forward guidance. Investors had been concerned that AI tools would pressure Shopify&#8217;s monetization or require excessive spending. Instead, management&nbsp;demonstrated&nbsp;that AI is improving merchant productivity while&nbsp;maintaining&nbsp;strong free cash flow margins. Operating discipline also remained solid despite elevated AI infrastructure investment. Shares surged&nbsp;approximately 18%\u201322% following the results, one of Shopify&#8217;s strongest post-earnings reactions in years. The principal variables to monitor are GMV growth above 30%, merchant adoption of AI tools, free cash flow margin sustainability, enterprise and B2B penetration, and competitive dynamics from Amazon and AI-native commerce platforms.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $110&nbsp;to $180.&nbsp;Neutral&nbsp;Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Shopify&nbsp;Inc.\uff08SHOP<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"6\" 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\">35.8\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f33.6%\uff0c\u8d85\u51fa\u9884\u671f1.4\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u51c0\u5229\u6da6\uff1a<\/span><\/b><span data-contrast=\"auto\">15\u4ebf\u7f8e\u5143\uff08\u663e\u8457\u9ad8\u4e8e\u53bb\u5e74\u540c\u671f\uff09<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u589e\u901f\u9884\u8ba1\u4e3a\u201c\u4f4e30%\u201d\u533a\u95f4\uff08\u7ea630%\u201333%\uff09\uff1b\u6bdb\u5229\u6da6\u589e\u901f\u9884\u8ba1\u4e3a\u201c\u4e2d\u9ad820%\u201d\u533a\u95f4\uff08\u7ea625%\u201329%\uff09\uff1b\u81ea\u7531\u73b0\u91d1\u6d41\u5229\u6da6\u7387\u9884\u8ba1\u5c06\u4fdd\u6301\u5065\u5eb7\u6c34\u5e73\uff0c\u5c3d\u7ba1\u6301\u7eed\u6295\u5165AI<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\u4e3a\u8fd1\u5e74\u6765\u6700\u5f3a\u52bf\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u7ec4\u5408\u4e4b\u4e00\u3002GMV\uff08\u5546\u54c1\u4ea4\u6613\u603b\u989d\uff09\u3001\u8ba2\u9605\u6536\u5165\u7a33\u5065\u589e\u957f\uff0c\u800c\u5546\u5bb6\u89e3\u51b3\u65b9\u6848\u6536\u5165\u540c\u6bd4\u5927\u589e37%\uff0c\u663e\u793a\u5e73\u53f0\u589e\u503c\u670d\u52a1\u6e17\u900f\u7387\u6301\u7eed\u63d0\u5347\u3002\u6700\u5927\u4eae\u70b9\u5728\u4e8eAI\u6218\u7565\u6210\u6548\u663e\u8457\uff1aAI\u52a9\u624bSidekick\u65e5\u6d3b\u7528\u6237\u6fc0\u589e3.6\u500d\uff0c\u4e0d\u4ec5\u672a\u4fb5\u8680\u53d8\u73b0\uff0c\u53cd\u800c\u63d0\u5347\u5546\u5bb6\u6d3b\u8dc3\u5ea6\u4e0e\u8fd0\u8425\u6548\u7387\uff0c\u9a8c\u8bc1AI\u662f\u201c\u589e\u957f\u52a0\u901f\u5668\u201d\u800c\u975e\u6210\u672c\u8d1f\u62c5\u3002\u7ba1\u7406\u5c42\u660e\u786e\u8868\u793a\uff0cAI\u6295\u8d44\u5e76\u672a\u727a\u7272\u81ea\u7531\u73b0\u91d1\u6d41\u5229\u6da6\u7387\uff0c\u6253\u6d88\u5e02\u573a\u5bf9\u201c\u70e7\u94b1\u6362AI\u201d\u7684\u62c5\u5fe7\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u98d9\u534718%\u201322%\uff0c\u521b\u591a\u5e74\u6700\u4f73\u76d8\u540e\u8868\u73b0\uff0c\u53cd\u6620\u6295\u8d44\u8005\u5bf9Shopify\u4ece\u201c\u7535\u5546SaaS\u201d\u5411\u201cAI\u8d4b\u80fd\u5546\u4e1a\u64cd\u4f5c\u7cfb\u7edf\u201d\u8f6c\u578b\u7684\u9ad8\u5ea6\u8ba4\u53ef\u3002\u7136\u800c\uff0c\u6311\u6218\u4f9d\u7136\u5b58\u5728\uff1a\uff081\uff09\u4e9a\u9a6c\u900a\u7b49\u5de8\u5934\u5728\u7535\u5546\u670d\u52a1\u9886\u57df\u7684\u7ade\u4e89\u52a0\u5267\uff1b\uff082\uff09\u65b0\u5174AI\u539f\u751f\u5e73\u53f0\uff08\u5982TikTok Shop\u3001Cursor Commerce\uff09\uff1b\uff083\uff09\u4f01\u4e1a\u7ea7\u4e0eB2B\u5ba2\u6237\u6e17\u900f\u80fd\u5426\u6210\u4e3a\u4e0b\u4e00\u589e\u957f\u66f2\u7ebf\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09GMV\u80fd\u5426\u7ef4\u630130%+\u589e\u957f\uff1b\uff082\uff09Sidekick\u7b49AI\u5de5\u5177\u7684\u4ed8\u8d39\u8f6c\u5316\u4e0eARPU\u8d21\u732e\uff1b\uff083\uff09\u81ea\u7531\u73b0\u91d1\u6d41\u5229\u6da6\u7387\u5728AI\u57fa\u7840\u8bbe\u65bd\u6295\u5165\u4e0b\u7684\u7a33\u5b9a\u6027\uff1b\uff084\uff09\u56fd\u9645\u6269\u5f20\u4e0e\u9ad8\u7aef\u5546\u6237\u83b7\u53d6\u8fdb\u5c55\u3002Shopify\u5df2\u8bc1\u660e\u5176\u5177\u5907\u6280\u672f\u524d\u77bb\u6027\u4e0e\u5353\u8d8a\u6267\u884c\u80fd\u529b\uff0c\u5728AI\u91cd\u5851\u5546\u4e1a\u8f6f\u4ef6\u7684\u6d6a\u6f6e\u4e2d\u5360\u636e\u6709\u5229\u4f4d\u7f6e\u3002\u4f46\u4f5c\u4e3a\u9ad8\u4f30\u503c\u6210\u957f\u80a1\uff0c\u9700\u6301\u7eed\u5151\u73b0\u4ee5\u652f\u6491\u5f53\u524d\u9884\u671f\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a110\u7f8e\u5143\u81f3180\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;335559685&quot;:720}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Uber Technologies, Inc. (UBER)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$14.19B<\/span><span data-contrast=\"auto\">,&nbsp;+11.7% YoY,&nbsp;miss&nbsp;estimates&nbsp;by&nbsp;<\/span><span data-contrast=\"auto\">$70M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$0.81,&nbsp;beat&nbsp;estimates by $0.01<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26<\/span><\/b><b><span data-contrast=\"auto\">&nbsp;Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;3Q26 Gross Bookings are expected at US$58.25B\u2013US$60.25B, while adjusted EPS is guided to US$0.84\u2013US$0.88, slightly below market expectations. Management also announced plans to invest more than US$10B over the coming years to build the world&#8217;s largest autonomous-vehicle platform, targeting operations in 15 cities by year-end 2026.&nbsp;<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">This was another fundamentally strong operating quarter. Gross Bookings increased 24%, Monthly Active Platform Consumers continued to grow, and both Mobility and Delivery&nbsp;maintained&nbsp;healthy demand despite a softer macro backdrop. Delivery revenue increased 28%, while first-time user additions reached their highest level in five years,&nbsp;demonstrating&nbsp;that Uber continues to gain share across multiple services. The key concern is investment intensity and slowing growth. Revenue growth slowed from 14% in the previous quarter to 12%, management&#8217;s 3Q profit outlook came in slightly below expectations, and the planned US$10B autonomous-vehicle investment raises questions about near-term returns. Investor sentiment also&nbsp;remains&nbsp;cautious following reports&nbsp;regarding&nbsp;potential changes to Uber&#8217;s relationship with Waymo and increasing competition in robotaxis. Shares fell approximately 6% following the earnings release. The principal variables to monitor are autonomous-vehicle commercialization, Delivery margin expansion, Mobility pricing, Gross Bookings growth above 20%, and the pace at which AI and robotaxi investments translate into earnings.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26&nbsp;recommended trading range: $63&nbsp;to $80.&nbsp;Positive&nbsp;Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Uber Technologies,&nbsp;Inc.\uff08UBER<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"10\" 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\">141.9\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\uff0c\u7565\u4f4e\u4e8e\u9884\u671f7000\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"11\" 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\">0.81\u7f8e\u5143\uff0c\u5c0f\u5e45\u8d85\u51fa\u9884\u671f0.01\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u603b\u9884\u8ba2\u989d\uff08Gross Bookings\uff09\uff1b\u8c03\u6574\u540eEPS\u4e3a0.84\u20130.88\u7f8e\u5143\uff0c\u7565\u4f4e\u4e8e\u5e02\u573a\u9884\u671f<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u6218\u7565\u6295\u8d44\uff1a\u5ba3\u5e03\u8ba1\u5212\u672a\u6765\u6570\u5e74\u6295\u5165\u8d85100\u4ebf\u7f8e\u5143\uff0c\u6253\u9020\u5168\u7403\u6700\u5927\u81ea\u52a8\u9a7e\u9a76\u5e73\u53f0\uff0c\u76ee\u68072026\u5e74\u5e95\u524d\u572815\u4e2a\u57ce\u5e02\u8fd0\u8425<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u57fa\u672c\u9762\u4f9d\u7136\u5f3a\u52b2\uff0c\u5c3d\u7ba1\u8425\u6536\u5c0f\u5e45\u4e0d\u53ca\u9884\u671f\u3002\u603b\u9884\u8ba2\u989d\u540c\u6bd4\u589e\u957f24%\uff0c\u6708\u6d3b\u8dc3\u7528\u6237\u6301\u7eed\u589e\u957f\uff0c\u914d\u9001\u4e1a\u52a1\u6536\u5165\u5927\u589e28%\uff0c\u65b0\u7528\u6237\u589e\u91cf\u521b\u4e94\u5e74\u65b0\u9ad8\uff0c\u663e\u793aUber\u5728\u51fa\u884c\u4e0e\u672c\u5730\u670d\u52a1\u53cc\u8d5b\u9053\u6301\u7eed\u62a2\u5360\u5e02\u573a\u4efd\u989d\uff0c\u9700\u6c42\u97e7\u6027\u7a81\u51fa\u3002\u7136\u800c\uff0c\u589e\u957f\u52a8\u80fd\u7565\u6709\u653e\u7f13\uff08\u8425\u6536\u589e\u901f\u4eceQ1\u768414%\u964d\u81f312%\uff09\uff0c\u53e0\u52a0Q3\u76c8\u5229\u6307\u5f15\u7565\u900a\u9884\u671f\uff0c\u5f15\u53d1\u5e02\u573a\u5bf9\u201c\u589e\u957f\u6362\u6321\u201d\u7684\u62c5\u5fe7\u3002\u66f4\u5173\u952e\u7684\u662f\uff0c100\u4ebf\u7f8e\u5143\u7ea7\u81ea\u52a8\u9a7e\u9a76\u6295\u8d44\u8ba1\u5212\u867d\u5177\u957f\u671f\u6218\u7565\u610f\u4e49\uff0c\u4f46\u56de\u62a5\u5468\u671f\u957f\u3001\u6280\u672f\u98ce\u9669\u9ad8\uff0c\u4e14\u6b63\u503c\u4e0eWaymo\u5408\u4f5c\u5173\u7cfb\u4f20\u95fb\u751f\u53d8\u4e4b\u9645\uff0c\u52a0\u5267\u6295\u8d44\u8005\u5bf9\u8d44\u672c\u914d\u7f6e\u6548\u7387\u7684\u7591\u8651\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0b\u8dcc\u7ea66%\uff0c\u53cd\u6620\u5e02\u573a\u5728\u9ad8\u4f30\u503c\u80cc\u666f\u4e0b\uff0c\u5bf9\u77ed\u671f\u76c8\u5229\u8d28\u91cf\u4e0e\u5de8\u989dAI\/robotaxi\u6295\u5165\u7684\u5e73\u8861\u66f4\u4e3a\u654f\u611f\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u81ea\u52a8\u9a7e\u9a76\u5546\u4e1a\u5316\u843d\u5730\u8282\u594f\u4e0e\u5355\u4f4d\u7ecf\u6d4e\u6a21\u578b\u9a8c\u8bc1\uff1b\uff082\uff09\u914d\u9001\u4e1a\u52a1\u5229\u6da6\u7387\u80fd\u5426\u5728\u89c4\u6a21\u6548\u5e94\u4e0b\u6301\u7eed\u6269\u5f20\uff1b\uff083\uff09\u51fa\u884c\u670d\u52a1\u5b9a\u4ef7\u80fd\u529b\u4e0e\u53f8\u673a\u4f9b\u7ed9\u7a33\u5b9a\u6027\uff1b\uff084\uff09\u603b\u9884\u8ba2\u989d\u80fd\u5426\u7ef4\u630120%+\u589e\u957f\uff1b\uff085\uff09AI\u4e0erobotaxi\u6295\u8d44\u4f55\u65f6\u5f00\u59cb\u8d21\u732e\u53ef\u91cf\u5316\u7684\u6210\u672c\u8282\u7ea6\u6216\u6536\u5165\u3002Uber\u5df2\u6210\u529f\u8f6c\u578b\u4e3a\u9ad8\u5229\u6da6\u3001\u6b63\u81ea\u7531\u73b0\u91d1\u6d41\u7684\u5e73\u53f0\u578b\u516c\u53f8\uff0c\u6838\u5fc3\u4e1a\u52a1\u5177\u5907\u5f3a\u5927\u7f51\u7edc\u6548\u5e94\u3002\u81ea\u52a8\u9a7e\u9a76\u5e03\u5c40\u7740\u773c\u957f\u8fdc\uff0c\u4f46\u9700\u8c28\u614e\u7ba1\u7406\u8d44\u672c\u5f00\u652f\u4e0e\u5e02\u573a\u9884\u671f\u3002\u82e5\u6267\u884c\u5f97\u5f53\uff0c\u6709\u671b\u5728\u672a\u6765\u5341\u5e74\u91cd\u5851\u79fb\u52a8\u51fa\u884c\u683c\u5c40\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a63\u7f8e\u5143\u81f380\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">The Walt Disney Company (DIS)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$25.25B<\/span><span data-contrast=\"auto\">,&nbsp;+6.8% YoY, miss&nbsp;estimates&nbsp;by $160M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$2.06,&nbsp;beat&nbsp;estimates by $0.21<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Disney reaffirmed its expectation for double-digit adjusted EPS growth in both FY26 and FY27. Management also announced plans to repurchase US$9B of shares during FY26, supported in part by&nbsp;proceeds&nbsp;from the sale of its 50% stake in A&amp;E Global Media.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Disney continues its quarterly dividend and increased its FY26 share repurchase target to US$9B.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">This was a strong quarter. Experiences revenue increased 10%, with operating income rising 20%, driven by higher domestic park attendance, cruise&nbsp;demand&nbsp;and the global success of *Toy Story 5*. Entertainment operating income jumped 64% as Disney+ profitability continued to improve and blockbuster theatrical releases boosted merchandise and licensing revenue. Streaming revenue increased 11%, while subscriber engagement remained healthy. The main weakness&nbsp;remains&nbsp;ESPN. Sports operating income declined about 17% because of higher programming costs, including NBA rights, and softer carriage economics. Revenue also came in marginally below expectations despite the EPS beat. Management&#8217;s strategy now focuses on expanding Disney+ through ad-supported channels, deeper Hulu&nbsp;integration&nbsp;and a new TikTok partnership to improve content discovery and monetisation. Shares rose approximately 4% following the results as investors focused on stronger-than-expected earnings, accelerating streaming profitability and continued strength in the Experiences business. The principal variables to monitor are Disney+ subscriber monetisation, ESPN profitability, theme park attendance, AI-driven content&nbsp;initiatives&nbsp;and execution under CEO Josh D&#8217;Amaro.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $92&nbsp;to $110.&nbsp;Neutral&nbsp;Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">The Walt Disney&nbsp;Company\uff08DIS<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">252.5\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f6.8%\uff0c\u7565\u4f4e\u4e8e\u9884\u671f1.6\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">2.06\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.21\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u91cd\u753326\u53ca27\u8d22\u5e74\u8c03\u6574\u540eEPS\u5b9e\u73b0\u53cc\u4f4d\u6570\u589e\u957f\uff1b\u5c0626\u8d22\u5e74\u80a1\u7968\u56de\u8d2d\u76ee\u6807\u4e0a\u8c03\u81f390\u4ebf\u7f8e\u5143\uff08\u90e8\u5206\u8d44\u91d1\u6765\u81ea\u51fa\u552eA&amp;E Global Media 50%\u80a1\u6743\u6240\u5f97\uff09<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u7ef4\u6301\u5b63\u5ea6\u80a1\u606f\uff0c\u5e76\u63d0\u9ad8\u5168\u5e74\u56de\u8d2d\u89c4\u6a21<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\u8868\u73b0\u5f3a\u52b2\uff0c\u76c8\u5229\u8d28\u91cf\u4f18\u5f02\u3002\u5c3d\u7ba1\u8425\u6536\u5c0f\u5e45\u4e0d\u53ca\u9884\u671f\uff0c\u4f46\u6838\u5fc3\u4e1a\u52a1\u5168\u9762\u8d85\u9884\u671f\uff1aExperiences\uff08\u4e50\u56ed\u3001\u90ae\u8f6e\u7b49\uff09\uff1bEntertainment\uff08\u5f71\u89c6\u3001\u6d41\u5a92\u4f53\u3001\u6d88\u8d39\u54c1\uff09\uff1bDisney+\u6d41\u5a92\u4f53\u6536\u5165\u589e\u957f11%\uff0c\u76c8\u5229\u80fd\u529b\u6301\u7eed\u6539\u5584\uff0c\u7528\u6237\u53c2\u4e0e\u5ea6\u5065\u5eb7\u3002\u4eae\u70b9\u5305\u62ec\uff1a\u300a\u73a9\u5177\u603b\u52a8\u54585\u300b\u5168\u7403\u70ed\u6620\u5e26\u52a8\u7968\u623f\u3001\u5546\u54c1\u53ca\u6388\u6743\u6536\u5165\uff0c\u56fd\u5185\u4e50\u56ed\u5ba2\u6d41\u4e0e\u90ae\u8f6e\u9700\u6c42\u65fa\u76db\uff0c\u4ee5\u53caHulu\u4e0eDisney+\u6574\u5408\u6df1\u5316\u63a8\u52a8\u5e7f\u544a\u53d8\u73b0\u6548\u7387\u63d0\u5347\u3002\u516c\u53f8\u8fd8\u5ba3\u5e03\u4e0eTikTok\u5408\u4f5c\uff0c\u5f3a\u5316\u5185\u5bb9\u5206\u53d1\u4e0e\u5e74\u8f7b\u7528\u6237\u89e6\u8fbe\u3002\u4e3b\u8981\u62d6\u7d2f\u6765\u81eaESPN\uff1a\u53d7NBA\u8f6c\u64ad\u6743\u6210\u672c\u4e0a\u5347\u53ca\u4f20\u7edf\u6709\u7ebf\u7535\u89c6\u201c\u8f7d\u6ce2\u8d39\u201d\uff08carriage fees\uff09\u4e0b\u6ed1\u5f71\u54cd\uff0c\u4f53\u80b2\u677f\u5757\u8425\u4e1a\u5229\u6da6\u540c\u6bd4\u4e0b\u964d17%\uff0c\u51f8\u663e\u4f20\u7edf\u7535\u89c6\u4e1a\u52a1\u7ed3\u6784\u6027\u538b\u529b\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea64%\uff0c\u53cd\u6620\u5e02\u573a\u66f4\u5173\u6ce8\u6d41\u5a92\u4f53\u76c8\u5229\u62d0\u70b9\u3001\u4e50\u56ed\u9ad8\u5229\u6da6\u7387\u53ca90\u4ebf\u7f8e\u5143\u56de\u8d2d\u652f\u6491\uff0c\u800c\u975e\u77ed\u671f\u8425\u6536\u5fae\u5e45\u7f3a\u53e3\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09Disney+\u5e7f\u544a\u5957\u9910\u7528\u6237\u8f6c\u5316\u4e0eARPU\u63d0\u5347\uff1b\uff082\uff09ESPN\u8f6c\u578b\u8fdb\u5c55\uff08\u5982\u72ec\u7acbApp\u8ba2\u9605\u589e\u957f\u3001\u6210\u672c\u63a7\u5236\uff09\uff1b\uff083\uff09\u4e3b\u9898\u516c\u56ed\u5b9a\u4ef7\u80fd\u529b\u4e0e\u56fd\u9645\u6269\u5f20\uff08\u5982\u5df4\u9ece\u3001\u4e0a\u6d77\uff09\uff1b\uff084\uff09AI\u5728\u5185\u5bb9\u521b\u4f5c\u4e0e\u63a8\u8350\u7cfb\u7edf\u4e2d\u7684\u5e94\u7528\u6210\u6548\uff1b\uff085\uff09CEO Josh D\u2019Amaro\u9886\u5bfc\u4e0b\u5404\u4e1a\u52a1\u534f\u540c\u6267\u884c\u6548\u7387\u3002\u8fea\u58eb\u5c3c\u6b63\u6210\u529f\u4ece\u201c\u75ab\u60c5\u4fee\u590d\u201d\u8fc8\u5411\u201c\u7ed3\u6784\u6027\u76c8\u5229\u63d0\u5347\u201d\uff0c\u6d41\u5a92\u4f53\u51cf\u4e8f\u3001\u4e50\u56ed\u9ad8\u56de\u62a5\u3001\u8d44\u672c\u8fd4\u8fd8\u589e\u5f3a\uff0c\u6784\u6210\u7a33\u5065\u6295\u8d44\u903b\u8f91\u3002\u4f46ESPN\u6311\u6218\u4e0e\u5b8f\u89c2\u6d88\u8d39\u6ce2\u52a8\u4ecd\u6784\u6210\u77ed\u671f\u6270\u52a8\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a92\u7f8e\u5143\u81f3110\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Circle Internet Group, Inc.&nbsp;(CRCL)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$701.32M<\/span><span data-contrast=\"auto\">, +6.6% YoY,&nbsp;miss&nbsp;estimates&nbsp;by $12M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$0.18,&nbsp;beat&nbsp;estimates by $0.02&nbsp;<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Management highlighted USDC in circulation of US$73.3B (+19% YoY), USDC on-chain transaction volume of US$14.8T (+151% YoY) and continued investment in payments infrastructure and stablecoin adoption.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"25\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">This was a mixed quarter. Revenue growth slowed to 7% and missed expectations, reflecting lower reserve income as interest rates eased. However, the quality of the business improved, with revenue less distribution costs growing 15%, RLDC margin expanding by more than 300 bps, and USDC network activity&nbsp;remaining&nbsp;exceptionally strong. USDC circulation reached a record US$73.3B while transaction volume more than doubled,&nbsp;indicating&nbsp;continued adoption despite a softer rate environment. The key issue is monetization. Circle&#8217;s core stablecoin ecosystem continues to expand rapidly, but lower short-term interest rates are reducing reserve income growth, making investors increasingly focused on payments,&nbsp;software&nbsp;and infrastructure revenue. The shares traded lower after results as investors reacted to the revenue miss despite the EPS beat and healthy operating metrics. The principal variables to monitor are USDC circulation growth, reserve-income sensitivity to interest rates, expansion of Circle Payments Network and enterprise adoption, and the pace at which non-reserve revenue becomes a larger contributor.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $50 to $70. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Circle Internet Group,&nbsp;Inc.\uff08CRCL<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"19\" 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\">7.013\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f6.6%\uff0c\u7565\u4f4e\u4e8e\u9884\u671f1200\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.18\u7f8e\u5143\uff0c\u5c0f\u5e45\u8d85\u51fa\u9884\u671f0.02\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u4e1a\u52a1\u4eae\u70b9\uff1a<\/span><\/b><span data-contrast=\"auto\">USDC\u6d41\u901a\u91cf\u8fbe733\u4ebf\u7f8e\u5143\uff08+19% YoY\uff09\uff1b\u94fe\u4e0a\u4ea4\u6613\u989d\u8fbe14.8\u4e07\u4ebf\u7f8e\u5143\uff08+151% YoY\uff09\uff1b\u6301\u7eed\u6295\u8d44\u652f\u4ed8\u57fa\u7840\u8bbe\u65bd\u4e0e\u7a33\u5b9a\u5e01\u751f\u6001\u62d3\u5c55<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8868\u73b0\u6df7\u5408\uff0c\u5448\u73b0\u201c\u589e\u957f\u653e\u7f13\u4f46\u8d28\u91cf\u63d0\u5347\u201d\u7684\u5206\u5316\u683c\u5c40\u3002\u8425\u6536\u589e\u901f\u964d\u81f37%\u5e76\u5c0f\u5e45\u4e0d\u53ca\u9884\u671f\uff0c\u4e3b\u56e0\u77ed\u671f\u5229\u7387\u56de\u843d\u5bfc\u81f4\u50a8\u5907\u8d44\u4ea7\u5229\u606f\u6536\u5165\u51cf\u5c11\u3002\u7136\u800c\uff0c\u6838\u5fc3\u8fd0\u8425\u6307\u6807\u663e\u8457\u6539\u5584\uff1a\u5254\u9664\u5206\u9500\u6210\u672c\u540e\u7684\u8425\u6536\u589e\u957f15%\uff0cRLDC\uff08Revenue Less Distribution Costs\uff09\uff0c\u663e\u793a\u5546\u4e1a\u6a21\u5f0f\u6b63\u4ece\u201c\u4f9d\u8d56\u5229\u7387\u201d\u5411\u201c\u53ef\u6301\u7eed\u670d\u52a1\u53d8\u73b0\u201d\u6f14\u8fdb\u3002USDC\u751f\u6001\u6269\u5f20\u52bf\u5934\u5f3a\u52b2\u2014\u2014\u6d41\u901a\u91cf\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u94fe\u4e0a\u4ea4\u6613\u989d\u7ffb\u500d\u4ee5\u4e0a\uff0c\u5370\u8bc1\u5176\u4f5c\u4e3a\u4e3b\u6d41\u7a33\u5b9a\u5e01\u7684\u7f51\u7edc\u6548\u5e94\u6301\u7eed\u589e\u5f3a\uff0c\u5e94\u7528\u573a\u666f\u5df2\u8986\u76d6DeFi\u3001\u8de8\u5883\u652f\u4ed8\u3001\u673a\u6784\u7ed3\u7b97\u7b49\u591a\u4e2a\u9886\u57df\u3002\u4f46\u5e02\u573a\u7126\u70b9\u96c6\u4e2d\u5728\u53d8\u73b0\u74f6\u9888\uff1a\u968f\u7740\u7f8e\u8054\u50a8\u8fdb\u5165\u964d\u606f\u5468\u671f\uff0c\u50a8\u5907\u6536\u5165\u589e\u957f\u5c06\u627f\u538b\uff0c\u6295\u8d44\u8005\u6108\u53d1\u5173\u6ce8Circle\u80fd\u5426\u52a0\u901f\u53d1\u5c55\u652f\u4ed8\u7f51\u7edc\u3001API\u670d\u52a1\u53ca\u4f01\u4e1a\u7ea7\u89e3\u51b3\u65b9\u6848\u7b49\u975e\u5229\u606f\u6536\u5165\u6765\u6e90\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0b\u8dcc\uff0c\u53cd\u6620\u5e02\u573a\u5bf9\u201c\u8425\u6536 miss + \u5229\u7387\u654f\u611f\u6027\u201d\u7684\u62c5\u5fe7\uff0c\u5c3d\u7ba1\u76c8\u5229\u548c\u751f\u6001\u6307\u6807\u5065\u5eb7\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09USDC\u6d41\u901a\u91cf\u4e0e\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u80fd\u5426\u7ef4\u6301\u9ad8\u589e\u957f\uff1b\uff082\uff09\u7f8e\u8054\u50a8\u5229\u7387\u8def\u5f84\u5bf9\u50a8\u5907\u6536\u5165\u7684\u5f71\u54cd\uff1b\uff083\uff09Circle Payments Network\u5728\u8de8\u5883\u4e0eB2B\u573a\u666f\u7684\u843d\u5730\u8fdb\u5c55\uff1b\uff084\uff09\u5927\u578b\u91d1\u878d\u673a\u6784\u4e0e\u79d1\u6280\u516c\u53f8\u5bf9USDC\u7684\u91c7\u7528\u6df1\u5ea6\uff1b\uff085\uff09\u975e\u50a8\u5907\u7c7b\u6536\u5165\u5360\u6bd4\u662f\u5426\u663e\u8457\u63d0\u5347\u3002Circle\u4f5c\u4e3a\u5168\u7403\u9886\u5148\u7684\u5408\u89c4\u7a33\u5b9a\u5e01\u53d1\u884c\u5546\uff0c\u5360\u636eWeb3\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u6838\u5fc3\u4f4d\u7f6e\u3002\u957f\u671f\u524d\u666f\u5e7f\u9614\uff0c\u4f46\u77ed\u671f\u76c8\u5229\u53d7\u5b8f\u89c2\u5229\u7387\u5236\u7ea6\uff0c\u9700\u901a\u8fc7\u4ea7\u54c1\u591a\u5143\u5316\u964d\u4f4e\u5468\u671f\u6027\u98ce\u9669\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a50\u7f8e\u5143\u81f370\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b>&nbsp;<br><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Novo Nordisk A\/S.&nbsp;(NVO)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$12.11B<\/span><span data-contrast=\"auto\">, +0.86% YoY,&nbsp;beat&nbsp;estimates&nbsp;by $1.09B<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$0.95,&nbsp;beat&nbsp;estimates by $0.18<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Expect&nbsp;revenue to come in between $85B&nbsp;and $87B, up from&nbsp;a previous&nbsp;guidance of between $82B&nbsp;and $85B.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Novo Nordisk reported a mixed quarter as adjusted sales and operating profit exceeded expectations and management raised full-year guidance, but investor sentiment was weighed down by Wegovy pill sales that met rather than exceeded expectations and further disappointing clinical data for next-generation obesity candidate&nbsp;CagriSema&nbsp;relative to Eli Lilly&#8217;s Zepbound. Oral Wegovy generated DKK3.2bn&nbsp;in sales, with strong prescription growth and approximately 90% share of the oral obesity market, although lower pricing offset robust volume gains. Management noted that more than 80% of oral Wegovy users were new to GLP-1 therapy, highlighting its ability to expand the obesity market rather than simply cannibalize injectable demand. While adjusted sales rose 7% and operating profit increased 11% in the quarter, Novo continues to face intense competitive pressure from Eli Lilly, pricing headwinds in the U.S., and investor concerns over the strength of its late-stage obesity pipeline. Novo Nordisk remains well positioned to benefit from the long-term structural growth of the global obesity market, supported by continued expansion of its Wegovy franchise, upcoming launches in new markets such as Germany, and growing adoption of oral GLP-1 therapies that could significantly broaden patient access. Management expects profitability to improve as patients transition to higher-dose oral Wegovy and manufacturing efficiencies increase, while the company continues to pursue targeted acquisitions to strengthen its pipeline. However, sustaining long-term growth will depend on successfully defending market share against Eli Lilly, improving pricing dynamics, and delivering more competitive next-generation obesity treatments as the GLP-1 market continues to evolve.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $40 to $50.&nbsp;Neutral&nbsp;Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">\u8bfa\u548c\u8bfa\u5fb7\uff08NVO<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"23\" 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\">121.1<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">0.86%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">10.9<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"24\" 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\">0.95<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.18<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"25\" 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\">\u9884\u8ba1\u8425\u6536\u5728<\/span><span data-contrast=\"auto\">850<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">870<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u9ad8\u4e8e\u6b64\u524d<\/span><span data-contrast=\"auto\">820<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">850<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u7684\u6307\u5f15\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8bfa\u548c\u8bfa\u5fb7\u672c\u5b63\u5ea6\u4e1a\u7ee9\u8868\u73b0\u4e0d\u4e00\uff0c\u5c3d\u7ba1\u8c03\u6574\u540e\u9500\u552e\u989d\u548c\u8425\u4e1a\u5229\u6da6\u8d85\u51fa\u9884\u671f\u4e14\u7ba1\u7406\u5c42\u4e0a\u8c03\u4e86\u5168\u5e74\u6307\u5f15\uff0c\u4f46<\/span><span data-contrast=\"auto\">Wegovy<\/span><span data-contrast=\"auto\">\u53e3\u670d\u836f\u9500\u552e\u989d\u4ec5\u8fbe\u5230\u800c\u975e\u8d85\u51fa\u9884\u671f\uff0c\u4e14\u4e0b\u4e00\u4ee3\u80a5\u80d6\u5019\u9009\u836f\u7269<\/span><span data-contrast=\"auto\">CagriSema<\/span><span data-contrast=\"auto\">\u7684\u4e34\u5e8a\u6570\u636e\u76f8\u8f83\u4e8e\u793c\u6765\u7684<\/span><span data-contrast=\"auto\">Zepbound<\/span><span data-contrast=\"auto\">\u8fdb\u4e00\u6b65\u4ee4\u4eba\u5931\u671b\uff0c\u62d6\u7d2f\u4e86\u6295\u8d44\u8005\u60c5\u7eea\u3002\u53e3\u670d<\/span><span data-contrast=\"auto\">Wegovy<\/span><span data-contrast=\"auto\">\u5b9e\u73b0<\/span><span data-contrast=\"auto\">32<\/span><span data-contrast=\"auto\">\u4ebf\u4e39\u9ea6\u514b\u6717\u7684\u9500\u552e\u989d\uff0c\u5904\u65b9\u91cf\u5f3a\u52b2\u589e\u957f\u5e76\u5360\u636e\u7ea6<\/span><span data-contrast=\"auto\">90%<\/span><span data-contrast=\"auto\">\u7684\u53e3\u670d\u80a5\u80d6\u836f\u5e02\u573a\u4efd\u989d\uff0c\u4f46\u8f83\u4f4e\u7684\u5b9a\u4ef7\u62b5\u6d88\u4e86\u9500\u91cf\u7684\u5f3a\u52b2\u589e\u957f\u3002\u7ba1\u7406\u5c42\u6307\u51fa\uff0c\u8d85\u8fc7<\/span><span data-contrast=\"auto\">80%<\/span><span data-contrast=\"auto\">\u7684\u53e3\u670d<\/span><span data-contrast=\"auto\">Wegovy<\/span><span data-contrast=\"auto\">\u7528\u6237\u662f\u9996\u6b21\u63a5\u89e6<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u7597\u6cd5\uff0c\u51f8\u663e\u4e86\u5176\u6269\u5927\u80a5\u80d6\u836f\u5e02\u573a\u800c\u975e\u5355\u7eaf\u8695\u98df\u6ce8\u5c04\u5242\u9700\u6c42\u7684\u80fd\u529b\u3002\u867d\u7136\u672c\u5b63\u5ea6\u8c03\u6574\u540e\u9500\u552e\u989d\u589e\u957f<\/span><span data-contrast=\"auto\">7%<\/span><span data-contrast=\"auto\">\uff0c\u8425\u4e1a\u5229\u6da6\u589e\u957f<\/span><span data-contrast=\"auto\">11%<\/span><span data-contrast=\"auto\">\uff0c\u4f46\u8bfa\u548c\u8bfa\u5fb7\u7ee7\u7eed\u9762\u4e34\u6765\u81ea\u793c\u6765\u7684\u6fc0\u70c8\u7ade\u4e89\u538b\u529b\u3001\u7f8e\u56fd\u5e02\u573a\u7684\u5b9a\u4ef7\u9006\u98ce\uff0c\u4ee5\u53ca\u6295\u8d44\u8005\u5bf9\u5176\u540e\u671f\u80a5\u80d6\u836f\u7814\u53d1\u7ba1\u7ebf\u5b9e\u529b\u7684\u62c5\u5fe7\u3002\u8bfa\u548c\u8bfa\u5fb7\u4ecd\u5904\u4e8e\u6709\u5229\u5730\u4f4d\uff0c\u6709\u671b\u53d7\u76ca\u4e8e\u5168\u7403\u80a5\u80d6\u5e02\u573a\u7684\u957f\u671f\u7ed3\u6784\u6027\u589e\u957f\uff0c\u8fd9\u5f97\u76ca\u4e8e<\/span><span data-contrast=\"auto\">Wegovy<\/span><span data-contrast=\"auto\">\u4ea7\u54c1\u7ec4\u5408\u7684\u6301\u7eed\u6269\u5f20\u3001\u5728\u5fb7\u56fd\u7b49\u65b0\u5e02\u573a\u7684\u5373\u5c06\u4e0a\u5e02\uff0c\u4ee5\u53ca\u53e3\u670d<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u7597\u6cd5\u91c7\u7528\u7387\u7684\u4e0d\u65ad\u63d0\u9ad8\uff0c\u8fd9\u5c06\u663e\u8457\u6269\u5927\u60a3\u8005\u8986\u76d6\u9762\u3002\u7ba1\u7406\u5c42\u9884\u8ba1\uff0c\u968f\u7740\u60a3\u8005\u8f6c\u5411\u66f4\u9ad8\u5242\u91cf\u7684\u53e3\u670d<\/span><span data-contrast=\"auto\">Wegovy<\/span><span data-contrast=\"auto\">\u4ee5\u53ca\u5236\u9020\u6548\u7387\u7684\u63d0\u5347\uff0c\u76c8\u5229\u80fd\u529b\u5c06\u6709\u6240\u6539\u5584\uff0c\u540c\u65f6\u516c\u53f8\u5c06\u7ee7\u7eed\u8fdb\u884c\u6709\u9488\u5bf9\u6027\u7684\u6536\u8d2d\u4ee5\u5f3a\u5316\u5176\u7814\u53d1\u7ba1\u7ebf\u3002\u7136\u800c\uff0c\u7ef4\u6301\u957f\u671f\u589e\u957f\u5c06\u53d6\u51b3\u4e8e\u80fd\u5426\u6210\u529f\u62b5\u5fa1\u793c\u6765\u7684\u5e02\u573a\u4efd\u989d\u4e89\u593a\u3001\u6539\u5584\u5b9a\u4ef7\u52a8\u6001\uff0c\u4ee5\u53ca\u5728<\/span><span data-contrast=\"auto\">GLP-1<\/span><span data-contrast=\"auto\">\u5e02\u573a\u4e0d\u65ad\u53d1\u5c55\u7684\u8fc7\u7a0b\u4e2d\u63a8\u51fa\u66f4\u5177\u7ade\u4e89\u529b\u7684\u4e0b\u4e00\u4ee3\u80a5\u80d6\u6cbb\u7597\u65b9\u6848\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\">40<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">SanDisk Corp. (SNDK)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$8.97B<\/span><span data-contrast=\"auto\">,&nbsp;beat&nbsp;estimates&nbsp;by $580M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$39.25,&nbsp;beat&nbsp;estimates by $4.73<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">1Q27&nbsp;Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Expect&nbsp;revenue between $10.30B&nbsp;and $10.80B, the midpoint of which is above analysts\u2019 average estimate of $10.47B&nbsp;and&nbsp;quarterly adjusted profit is expected to be between $44 and $46 per share, above estimates of $43.12.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks:&nbsp;<\/span><\/b><span data-contrast=\"auto\">The&nbsp;board approved an&nbsp;additional&nbsp;US$14B&nbsp;share repurchase programme, bringing its total remaining buyback authorisation to US$15.5B.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"34\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Sandisk&nbsp;delivered another strong quarter as accelerating AI infrastructure investment drove robust demand for enterprise SSDs and flash memory, with fourth-quarter revenue rising to US$8.97bn&nbsp;and adjusted EPS of US$39.25, both comfortably exceeding expectations. Data&nbsp;center&nbsp;revenue more than doubled sequentially to US$2.98bn, reflecting growing storage requirements from AI workloads. Management also guided first-quarter revenue of US$10.3-10.8bn&nbsp;and adjusted EPS of US$44-46, both above&nbsp;consensus, while highlighting a strategic shift toward long-term customer agreements. The company now has eight multi-year supply agreements with six customers worth at least US$93.9bn, with half of fiscal 2027 production and two-thirds of fiscal 2028 production already committed under these contracts. Additionally,&nbsp;Sandisk&nbsp;expanded its capital return program with a new US$14bn&nbsp;share repurchase authorization, bringing total remaining buyback capacity to US$15.5bn.&nbsp;Sandisk&nbsp;is well positioned to benefit from the structural growth in AI-driven storage demand as&nbsp;hyperscalers&nbsp;continue expanding data&nbsp;center&nbsp;capacity and enterprise SSD adoption accelerates. Its transition toward multi-year supply agreements significantly improves revenue visibility, production&nbsp;planning&nbsp;and pricing stability, while growing long-term commitments from major customers reduce earnings volatility. As AI workloads require increasingly higher-capacity, high-performance flash storage,&nbsp;Sandisk&#8217;s&nbsp;expanding contracted backlog and strengthening enterprise storage portfolio should support sustained growth, although execution on capacity expansion, memory pricing cycles and competitive dynamics&nbsp;remain&nbsp;key factors to watch.&nbsp;<\/span><b><span data-contrast=\"auto\">1Q27&nbsp;recommended trading range: $1,100&nbsp;to $1,300.&nbsp;Neutral&nbsp;Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">\u95ea\u8fea\uff08SNDK<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"27\" 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\">89.7<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">5.8<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"28\" 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\">39.25<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">4.73<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"29\" 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\u5728<\/span><span data-contrast=\"auto\">103.0<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">108.0<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u4e2d\u503c\u9ad8\u4e8e\u5206\u6790\u5e08\u5e73\u5747\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">104.7<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff1b\u5b63\u5ea6\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u9884\u8ba1\u5728<\/span><span data-contrast=\"auto\">44<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">46<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u4e4b\u95f4\uff0c\u9ad8\u4e8e\u9884\u671f\u7684<\/span><span data-contrast=\"auto\">43.12<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"30\" 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\">\u8463\u4e8b\u4f1a\u6279\u51c6\u4e86\u989d\u5916\u7684<\/span><span data-contrast=\"auto\">140<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u80a1\u7968\u56de\u8d2d\u8ba1\u5212\uff0c\u4f7f\u5176\u5269\u4f59\u56de\u8d2d\u6388\u6743\u603b\u989d\u8fbe\u5230<\/span><span data-contrast=\"auto\">155<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u95ea\u8fea\u518d\u521b\u5f3a\u52b2\u5b63\u5ea6\u8868\u73b0\uff0c\u52a0\u901f\u7684<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u57fa\u7840\u8bbe\u65bd\u6295\u8d44\u63a8\u52a8\u4e86\u5bf9\u4f01\u4e1a\u7ea7<\/span><span data-contrast=\"auto\">SSD<\/span><span data-contrast=\"auto\">\u548c\u95ea\u5b58\u7684\u5f3a\u52b2\u9700\u6c42\uff0c\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\u589e\u81f3<\/span><span data-contrast=\"auto\">89.7<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u8fbe<\/span><span data-contrast=\"auto\">39.25<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5747\u8f7b\u677e\u8d85\u51fa\u9884\u671f\u3002\u6570\u636e\u4e2d\u5fc3\u8425\u6536\u73af\u6bd4\u7ffb\u756a\u81f3<\/span><span data-contrast=\"auto\">29.8<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u53cd\u6620\u51fa<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u5de5\u4f5c\u8d1f\u8f7d\u5e26\u6765\u7684\u5b58\u50a8\u9700\u6c42\u589e\u957f\u3002\u7ba1\u7406\u5c42\u7ed9\u51fa\u7684\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u6307\u5f15\u4e3a<\/span><span data-contrast=\"auto\">103<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">108<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">44<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">46<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5747\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\uff0c\u5e76\u5f3a\u8c03\u4e86\u5411\u957f\u671f\u5ba2\u6237\u534f\u8bae\u7684\u6218\u7565\u8f6c\u53d8\u3002\u516c\u53f8\u76ee\u524d\u4e0e<\/span><span data-contrast=\"auto\">6<\/span><span data-contrast=\"auto\">\u5bb6\u5ba2\u6237\u7b7e\u8ba2\u4e86<\/span><span data-contrast=\"auto\">8<\/span><span data-contrast=\"auto\">\u9879\u591a\u5e74\u671f\u4f9b\u5e94\u534f\u8bae\uff0c\u603b\u4ef7\u503c\u81f3\u5c11\u8fbe<\/span><span data-contrast=\"auto\">939<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u4e00\u534a\u7684\u4ea7\u80fd\u548c<\/span><span data-contrast=\"auto\">2028<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u4e09\u5206\u4e4b\u4e8c\u7684\u4ea7\u80fd\u5df2\u5728\u8fd9\u4e9b\u5408\u540c\u4e0b\u83b7\u5f97\u627f\u8bfa\u3002\u6b64\u5916\uff0c\u95ea\u8fea\u901a\u8fc7\u65b0\u589e<\/span><span data-contrast=\"auto\">140<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u7684\u80a1\u7968\u56de\u8d2d\u6388\u6743\u6269\u5927\u4e86\u8d44\u672c\u56de\u62a5\u8ba1\u5212\uff0c\u4f7f\u5269\u4f59\u56de\u8d2d\u80fd\u529b\u603b\u989d\u8fbe\u5230<\/span><span data-contrast=\"auto\">155<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u968f\u7740\u8d85\u5927\u89c4\u6a21\u4e91\u5ba2\u6237\u7ee7\u7eed\u6269\u5927\u6570\u636e\u4e2d\u5fc3\u5bb9\u91cf\u4ee5\u53ca\u4f01\u4e1a\u7ea7<\/span><span data-contrast=\"auto\">SSD<\/span><span data-contrast=\"auto\">\u91c7\u7528\u7387\u7684\u52a0\u901f\uff0c\u95ea\u8fea\u5904\u4e8e\u6709\u5229\u5730\u4f4d\uff0c\u6709\u671b\u53d7\u76ca\u4e8e<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u7684\u5b58\u50a8\u9700\u6c42\u7684\u7ed3\u6784\u6027\u589e\u957f\u3002\u5176\u5411\u591a\u5e74\u671f\u4f9b\u5e94\u534f\u8bae\u7684\u8f6c\u53d8\u663e\u8457\u63d0\u9ad8\u4e86\u8425\u6536\u53ef\u89c1\u5ea6\u3001\u751f\u4ea7\u89c4\u5212\u548c\u5b9a\u4ef7\u7a33\u5b9a\u6027\uff0c\u800c\u4e3b\u8981\u5ba2\u6237\u4e0d\u65ad\u589e\u52a0\u7684\u957f\u671f\u627f\u8bfa\u964d\u4f4e\u4e86\u76c8\u5229\u6ce2\u52a8\u6027\u3002\u968f\u7740<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u5de5\u4f5c\u8d1f\u8f7d\u9700\u8981\u5bb9\u91cf\u66f4\u5927\u3001\u6027\u80fd\u66f4\u9ad8\u7684\u95ea\u5b58\u5b58\u50a8\uff0c\u95ea\u8fea\u4e0d\u65ad\u6269\u5927\u7684\u5408\u540c\u79ef\u538b\u8ba2\u5355\u548c\u4e0d\u65ad\u589e\u5f3a\u7684\u4f01\u4e1a\u5b58\u50a8\u4ea7\u54c1\u7ec4\u5408\u5e94\u80fd\u652f\u6301\u5176\u6301\u7eed\u589e\u957f\uff0c\u5c3d\u7ba1\u4ea7\u80fd\u6269\u5f20\u7684\u6267\u884c\u60c5\u51b5\u3001\u5185\u5b58\u5b9a\u4ef7\u5468\u671f\u548c\u7ade\u4e89\u6001\u52bf\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\">1100<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">1300<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Western Digital Corp. (WDC)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"35\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$3.75B<\/span><span data-contrast=\"auto\">, +43.7% YoY,&nbsp;beat&nbsp;estimates&nbsp;by $50M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"36\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$3.56,&nbsp;beat&nbsp;estimates by $0.26<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"37\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">1Q27&nbsp;Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Expect&nbsp;earnings per share between $3.85 and $4.15, compared to analyst consensus of $3.77. The company expects revenue in the range of $4B&nbsp;to $4.2B, versus consensus of $4.04B.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"38\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Western Digital delivered a strong finish to fiscal 2026, with fourth-quarter revenue rising 44% YoY to US$3.75bn&nbsp;and adjusted EPS more than doubling to US$3.56, both exceeding market expectations on the back of robust global storage demand, expanding margins and disciplined execution across its end markets. Management also guided fiscal first-quarter 2027 revenue of US$4.0-4.2bn&nbsp;and EPS of US$3.85-4.15, both above&nbsp;consensus, while forecasting gross margins of 55%-56%. Despite the earnings beat and optimistic guidance, shares fell sharply as investors had already priced in an exceptional outlook following the stock&#8217;s strong rally, with guidance implying a moderation in the pace of sequential growth rather than the stronger acceleration the market had&nbsp;anticipated.&nbsp;Western Digital&nbsp;remains&nbsp;well positioned to&nbsp;benefit&nbsp;from the structural increase in data storage demand driven by AI infrastructure, hyperscale cloud deployments and enterprise digitalization, with management highlighting broadening customer engagement and continued operational discipline. Improving profitability, expanding gross margins and above-consensus guidance suggest demand&nbsp;remains&nbsp;healthy, while the company&#8217;s HDD portfolio should continue to&nbsp;benefit&nbsp;from growing AI-related storage requirements. However, after a strong share price re-rating, future performance is likely to depend on Western Digital sustaining margin expansion and delivering continued growth amid evolving storage technologies and intensifying industry competition.&nbsp;<\/span><b><span data-contrast=\"auto\">1Q27&nbsp;recommended trading range: $400&nbsp;to $480. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">\u897f\u90e8\u6570\u636e\uff08WDC<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"32\" 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\">37.5<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">43.7%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">5000<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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><span data-contrast=\"auto\">3.56<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.26<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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><span data-contrast=\"auto\">\u9884\u8ba1\u6bcf\u80a1\u6536\u76ca\u5728<\/span><span data-contrast=\"auto\">3.85<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><span data-contrast=\"auto\">4.15<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u4e4b\u95f4\uff0c\u5206\u6790\u5e08\u5171\u8bc6\u4e3a<\/span><span data-contrast=\"auto\">3.77<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u516c\u53f8\u9884\u8ba1\u8425\u6536\u5728<\/span><span data-contrast=\"auto\">40<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">42<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u5171\u8bc6\u4e3a<\/span><span data-contrast=\"auto\">40.4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"35\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u897f\u90e8\u6570\u636e\u4e3a<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u753b\u4e0a\u4e86\u5f3a\u52b2\u7684\u53e5\u53f7\uff0c\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">44%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">37.5<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u7ffb\u756a\u81f3<\/span><span data-contrast=\"auto\">3.56<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5728\u5f3a\u52b2\u7684\u5168\u7403\u5316\u5b58\u50a8\u9700\u6c42\u3001\u5229\u6da6\u7387\u6269\u5927\u4ee5\u53ca\u5404\u7ec8\u7aef\u5e02\u573a\u4e25\u8c28\u6267\u884c\u7684\u63a8\u52a8\u4e0b\uff0c\u53cc\u53cc\u8d85\u51fa\u5e02\u573a\u9884\u671f\u3002\u7ba1\u7406\u5c42\u7ed9\u51fa\u7684<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u6307\u5f15\u4e3a<\/span><span data-contrast=\"auto\">40<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">42<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u6bcf\u80a1\u6536\u76ca\u4e3a<\/span><span data-contrast=\"auto\">3.85<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">4.15<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5747\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\uff0c\u5e76\u9884\u6d4b\u6bdb\u5229\u7387\u4e3a<\/span><span data-contrast=\"auto\">55%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">56%<\/span><span data-contrast=\"auto\">\u3002\u5c3d\u7ba1\u76c8\u5229\u8d85\u51fa\u9884\u671f\u4e14\u6307\u5f15\u4e50\u89c2\uff0c\u4f46\u80a1\u4ef7\u5374\u5927\u5e45\u4e0b\u8dcc\uff0c\u56e0\u4e3a\u6295\u8d44\u8005\u5728\u80a1\u4ef7\u5f3a\u52b2\u53cd\u5f39\u540e\u5df2\u8ba1\u5165\u4e86\u6781\u5176\u4e50\u89c2\u7684\u9884\u671f\uff0c\u800c\u8be5\u6307\u5f15\u6697\u793a\u73af\u6bd4\u589e\u901f\u5c06\u653e\u7f13\uff0c\u800c\u975e\u5e02\u573a\u9884\u671f\u7684\u66f4\u5f3a\u52b2\u52a0\u901f\u3002\u897f\u90e8\u6570\u636e\u4ecd\u5904\u4e8e\u6709\u5229\u5730\u4f4d\uff0c\u6709\u671b\u53d7\u76ca\u4e8e<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u57fa\u7840\u8bbe\u65bd\u3001\u8d85\u5927\u89c4\u6a21\u4e91\u90e8\u7f72\u548c\u4f01\u4e1a\u6570\u5b57\u5316\u63a8\u52a8\u7684\u6570\u636e\u5b58\u50a8\u9700\u6c42\u7ed3\u6784\u6027\u589e\u957f\uff0c\u7ba1\u7406\u5c42\u5f3a\u8c03\u4e86\u5ba2\u6237\u53c2\u4e0e\u5ea6\u7684\u6269\u5927\u548c\u6301\u7eed\u7684\u8fd0\u8425\u7eaa\u5f8b\u3002\u76c8\u5229\u80fd\u529b\u7684\u6539\u5584\u3001\u6bdb\u5229\u7387\u7684\u6269\u5927\u4ee5\u53ca\u9ad8\u4e8e\u5171\u8bc6\u7684\u6307\u5f15\u8868\u660e\u9700\u6c42\u4f9d\u7136\u5065\u5eb7\uff0c\u5176<\/span><span data-contrast=\"auto\">HDD<\/span><span data-contrast=\"auto\">\u4ea7\u54c1\u7ec4\u5408\u5e94\u7ee7\u7eed\u53d7\u76ca\u4e8e\u4e0d\u65ad\u589e\u957f\u7684<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u76f8\u5173\u5b58\u50a8\u9700\u6c42\u3002\u7136\u800c\uff0c\u5728\u80a1\u4ef7\u7ecf\u5386\u5f3a\u52b2\u91cd\u4f30\u540e\uff0c\u672a\u6765\u7684\u8868\u73b0\u53ef\u80fd\u53d6\u51b3\u4e8e\u897f\u90e8\u6570\u636e\u80fd\u5426\u5728\u4e0d\u65ad\u53d1\u5c55\u7684\u5b58\u50a8\u6280\u672f\u548c\u65e5\u76ca\u6fc0\u70c8\u7684\u884c\u4e1a\u7ade\u4e89\u4e2d\u7ef4\u6301\u5229\u6da6\u7387\u6269\u5f20\u5e76\u5b9e\u73b0\u6301\u7eed\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\">400<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">480<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Applovin&nbsp;Corp. (APP)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"39\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$1.92B<\/span><span data-contrast=\"auto\">, +52.4% YoY,&nbsp;miss&nbsp;estimates&nbsp;by $20M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"40\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$3.77,&nbsp;beat&nbsp;estimates by $0.02<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"41\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Guidance<\/span><\/b><span data-contrast=\"auto\">:&nbsp;Expect&nbsp;revenue of $2.055B&nbsp;to $2.085B, implying growth of 46% to 48% from a year earlier and 7% to 8% sequentially. The company also forecast adjusted EBITDA of $1.71B&nbsp;to $1.74B, with margins around 83%.<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"42\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">AppLovin&nbsp;delivered another strong quarter with revenue growing 53% YoY to US$1.92bn&nbsp;and adjusted EBITDA rising 58% to US$1.61bn, although results came in slightly below its own guidance due to slower-than-usual improvements in its advertising models during the quarter rather than weakening advertiser demand. Management emphasized that gaming demand remained healthy, publisher performance stayed strong and market share was stable, with the latest model enhancements already deployed after quarter-end driving a reacceleration in Q3. Meanwhile, the consumer advertising business continued to scale rapidly, with advertiser spend reaching a record level 28% above the&nbsp;previous&nbsp;seasonal peak, highlighting a significant new growth runway beyond gaming. The company also continued investing in more advanced AI models, compute infrastructure, creative&nbsp;tools&nbsp;and strategic partnerships, while guiding for Q3 revenue of US$2.06\u20132.09 billion and adjusted EBITDA of US$1.71-1.74bn, reflecting renewed momentum and continued margin strength above 80%.&nbsp;AppLovin&nbsp;remains&nbsp;well positioned to deliver sustained long-term growth as continued AI-driven improvements in its advertising models increase advertiser returns and support higher spending across both gaming and consumer verticals. The rapid expansion of its consumer advertising business, public rollout of&nbsp;AppLovin&nbsp;Ads Manager, ongoing investments in model architecture and compute, and growing advertiser partnerships significantly expand its addressable market beyond gaming. With healthy advertiser demand, strong cash generation and management targeting approximately 30% long-term annual compounding,&nbsp;AppLovin&nbsp;appears well placed to benefit from the increasing adoption of AI-powered digital advertising, although the pace of model improvements and execution on scaling newer advertising categories will remain key drivers of future performance.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $340&nbsp;to $400. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">AppLovin\uff08APP<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&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\">19.2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">52.4%<\/span><span data-contrast=\"auto\">\uff0c\u4f4e\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">2000<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">3.77<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.02<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\">\u9884\u8ba1\u8425\u6536\u5728<\/span><span data-contrast=\"auto\">20.55<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">20.85<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u610f\u5473\u7740\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">46%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">48%<\/span><span data-contrast=\"auto\">\uff0c\u73af\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">7%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">8%<\/span><span data-contrast=\"auto\">\u3002\u516c\u53f8\u8fd8\u9884\u6d4b\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u5728<\/span><span data-contrast=\"auto\">17.1<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">17.4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u5229\u6da6\u7387\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">83%\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"39\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">AppLovin<\/span><span data-contrast=\"auto\">\u518d\u521b\u5f3a\u52b2\u5b63\u5ea6\u8868\u73b0\uff0c\u8425\u6536\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">53%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">19.2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u589e\u957f<\/span><span data-contrast=\"auto\">58%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">16.1<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u5c3d\u7ba1\u7531\u4e8e\u672c\u5b63\u5ea6\u5e7f\u544a\u6a21\u578b\u6539\u5584\u901f\u5ea6\u6162\u4e8e\u5f80\u5e38\u800c\u975e\u5e7f\u544a\u4e3b\u9700\u6c42\u75b2\u8f6f\uff0c\u4e1a\u7ee9\u7565\u4f4e\u4e8e\u516c\u53f8\u81ea\u8eab\u6307\u5f15\u3002\u7ba1\u7406\u5c42\u5f3a\u8c03\uff0c\u6e38\u620f\u9700\u6c42\u4fdd\u6301\u5065\u5eb7\uff0c\u53d1\u884c\u5546\u4e1a\u7ee9\u4f9d\u7136\u5f3a\u52b2\uff0c\u5e02\u573a\u4efd\u989d\u4fdd\u6301\u7a33\u5b9a\uff0c\u5b63\u5ea6\u672b\u540e\u90e8\u7f72\u7684\u6700\u65b0\u6a21\u578b\u589e\u5f3a\u529f\u80fd\u6b63\u63a8\u52a8\u7b2c\u4e09\u5b63\u5ea6\u91cd\u65b0\u52a0\u901f\u589e\u957f\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u6d88\u8d39\u8005\u5e7f\u544a\u4e1a\u52a1\u7ee7\u7eed\u5feb\u901f\u6269\u5f20\uff0c\u5e7f\u544a\u4e3b\u652f\u51fa\u8fbe\u5230\u521b\u7eaa\u5f55\u6c34\u5e73\uff0c\u6bd4\u4e4b\u524d\u7684\u5b63\u8282\u6027\u5cf0\u503c\u9ad8\u51fa<\/span><span data-contrast=\"auto\">28%<\/span><span data-contrast=\"auto\">\uff0c\u51f8\u663e\u4e86\u6e38\u620f\u4e4b\u5916\u91cd\u8981\u7684\u65b0\u589e\u957f\u8dd1\u9053\u3002\u516c\u53f8\u8fd8\u7ee7\u7eed\u6295\u8d44\u4e8e\u66f4\u5148\u8fdb\u7684<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u6a21\u578b\u3001\u8ba1\u7b97\u57fa\u7840\u8bbe\u65bd\u3001\u521b\u610f\u5de5\u5177\u548c\u6218\u7565\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u540c\u65f6\u7ed9\u51fa\u7684\u7b2c\u4e09\u5b63\u5ea6\u8425\u6536\u6307\u5f15\u4e3a<\/span><span data-contrast=\"auto\">20.6<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">20.9<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u4e3a<\/span><span data-contrast=\"auto\">17.1<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">17.4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u53cd\u6620\u51fa\u590d\u82cf\u7684\u589e\u957f\u52a8\u80fd\u548c\u6301\u7eed\u4fdd\u6301\u5728<\/span><span data-contrast=\"auto\">80%<\/span><span data-contrast=\"auto\">\u4ee5\u4e0a\u7684\u5229\u6da6\u7387\u4f18\u52bf\u3002\u968f\u7740<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u7684\u5e7f\u544a\u6a21\u578b\u4e0d\u65ad\u6539\u8fdb\u4ece\u800c\u63d0\u9ad8\u5e7f\u544a\u4e3b\u56de\u62a5\u5e76\u652f\u6301\u6e38\u620f\u548c\u6d88\u8d39\u8005\u5782\u76f4\u9886\u57df\u7684\u66f4\u9ad8\u652f\u51fa\uff0c<\/span><span data-contrast=\"auto\">AppLovin<\/span><span data-contrast=\"auto\">\u4ecd\u5904\u4e8e\u6709\u5229\u5730\u4f4d\uff0c\u6709\u671b\u5b9e\u73b0\u6301\u7eed\u7684\u957f\u671f\u589e\u957f\u3002\u6d88\u8d39\u8005\u5e7f\u544a\u4e1a\u52a1\u7684\u5feb\u901f\u6269\u5f20\u3001<\/span><span data-contrast=\"auto\">AppLovin&nbsp;Ads Manager<\/span><span data-contrast=\"auto\">\u7684\u516c\u5f00\u53d1\u5e03\u3001\u5bf9\u6a21\u578b\u67b6\u6784\u548c\u8ba1\u7b97\u7684\u6301\u7eed\u6295\u8d44\uff0c\u4ee5\u53ca\u4e0d\u65ad\u589e\u957f\u7684\u5e7f\u544a\u4e3b\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\uff0c\u663e\u8457\u6269\u5927\u4e86\u5176\u5728\u6e38\u620f\u4e4b\u5916\u7684\u6f5c\u5728\u5e02\u573a\u3002\u51ed\u501f\u5065\u5eb7\u7684\u5e7f\u544a\u4e3b\u9700\u6c42\u3001\u5f3a\u52b2\u7684\u73b0\u91d1\u6d41\u4ee5\u53ca\u7ba1\u7406\u5c42\u8bbe\u5b9a\u7ea6<\/span><span data-contrast=\"auto\">30%<\/span><span data-contrast=\"auto\">\u7684\u957f\u671f\u5e74\u590d\u5408\u589e\u957f\u7387\u76ee\u6807\uff0c<\/span><span data-contrast=\"auto\">AppLovin<\/span><span data-contrast=\"auto\">\u4f3c\u4e4e\u5df2\u505a\u597d\u5145\u5206\u51c6\u5907\uff0c\u6709\u671b\u53d7\u76ca\u4e8e<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u7684\u6570\u5b57\u5e7f\u544a\u65e5\u76ca\u666e\u53ca\uff0c\u5c3d\u7ba1\u6a21\u578b\u6539\u8fdb\u7684\u6b65\u4f10\u548c\u6269\u5927\u8f83\u65b0\u5e7f\u544a\u7c7b\u522b\u7684\u6267\u884c\u529b\u4ecd\u5c06\u662f\u672a\u6765\u8868\u73b0\u7684\u5173\u952e\u9a71\u52a8\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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">TTM Technologies Inc. (TTMI)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"43\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$1B<\/span><span data-contrast=\"auto\">, +36.9% YoY,&nbsp;beat&nbsp;estimates&nbsp;by $34.95M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"44\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$0.99,&nbsp;beat&nbsp;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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"45\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26&nbsp;Guidance<\/span><\/b><span data-contrast=\"auto\">:&nbsp;Expect&nbsp;revenue of $1.10B&nbsp;to $1.14B&nbsp;and&nbsp;non-GAAP EPS of $1.21 to $1.27.<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"46\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Expect&nbsp;revenue&nbsp;of about $4.4B, up from prior guidance of at least $4B&nbsp;and&nbsp;non-GAAP EPS approaching $5 a share.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"47\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Booking Holdings delivered a strong second quarter, with adjusted EPS of US$2.54 beating expectations, supported by resilient U.S. domestic and regional travel demand despite ongoing geopolitical disruptions. However, the company lowered its full-year gross bookings growth outlook to the high single digits from its previous expectation of high single digits to low double digits, reflecting weaker long-haul international travel as elevated airfares, reduced airline capacity and the prolonged Middle East conflict weighed on global travel demand. Management expects inbound travel to the Middle East and broader flight network disruptions to persist through the third quarter. Encouragingly, the company&#8217;s investments in AI are already generating tangible benefits, with customer service costs per booking declining at a double-digit rate while&nbsp;maintaining&nbsp;high customer satisfaction, highlighting improving operating efficiency. Booking Holdings&nbsp;remains&nbsp;well-positioned to&nbsp;benefit&nbsp;from resilient leisure travel demand, particularly in domestic and regional markets, while continued investment in AI should enhance customer experience, improve operating efficiency and support long-term profitability. Although geopolitical tensions and airline capacity constraints are expected to continue weighing on international travel in the near term, management believes its technology investments and diversified global platform position the company to capture demand as travel conditions normalise. Looking ahead, the pace of recovery in long-haul travel, adoption of AI-powered booking capabilities and competitive dynamics from emerging AI travel agents will be key factors influencing future growth.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $120 to $140. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">TTM\u79d1\u6280\uff08TTMI<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span style=\"font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, sans-serif, &quot;Apple Color Emoji&quot;, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;, &quot;Noto Color Emoji&quot;; font-size: 1rem;\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&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\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">10<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">36.9%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">3495<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&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\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.99<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.09<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"42\" 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\u5728<\/span><span data-contrast=\"auto\">11.0<\/span><span data-contrast=\"auto\">\u4ebf\u81f3<\/span><span data-contrast=\"auto\">11.4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\u5728<\/span><span data-contrast=\"auto\">1.21<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">1.27<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u4e4b\u95f4\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"43\" 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\">\u9884\u8ba1\u8425\u6536\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">44<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u9ad8\u4e8e\u6b64\u524d\u81f3\u5c11<\/span><span data-contrast=\"auto\">40<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u7684\u6307\u5f15\uff0c\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\u63a5\u8fd1<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"44\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">Booking Holdings<\/span><span data-contrast=\"auto\">\u7b2c\u4e8c\u5b63\u5ea6\u4e1a\u7ee9\u5f3a\u52b2\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca<\/span><span data-contrast=\"auto\">2.54<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u8d85\u51fa\u9884\u671f\uff0c\u5c3d\u7ba1\u5730\u7f18\u653f\u6cbb\u5c40\u52bf\u6301\u7eed\u52a8\u8361\uff0c\u4f46\u7f8e\u56fd\u56fd\u5185\u548c\u533a\u57df\u65c5\u6e38\u9700\u6c42\u4f9d\u7136\u4fdd\u6301\u97e7\u6027\u3002\u7136\u800c\uff0c\u516c\u53f8\u5c06\u5168\u5e74\u603b\u9884\u8ba2\u91cf\u589e\u957f\u9884\u671f\u4ece\u6b64\u524d\u7684\u9ad8\u4e2a\u4f4d\u6570\u81f3\u4f4e\u53cc\u4f4d\u6570\u4e0b\u8c03\u81f3\u9ad8\u4e2a\u4f4d\u6570\uff0c\u53cd\u6620\u51fa\u7531\u4e8e\u673a\u7968\u4ef7\u683c\u5c45\u9ad8\u4e0d\u4e0b\u3001\u822a\u7a7a\u516c\u53f8\u8fd0\u529b\u51cf\u5c11\u4ee5\u53ca\u4e2d\u4e1c\u51b2\u7a81\u65f7\u65e5\u6301\u4e45\u5bf9\u5168\u7403\u65c5\u6e38\u9700\u6c42\u9020\u6210\u538b\u529b\uff0c\u5bfc\u81f4\u957f\u9014\u56fd\u9645\u65c5\u884c\u75b2\u8f6f\u3002\u7ba1\u7406\u5c42\u9884\u8ba1\uff0c\u524d\u5f80\u4e2d\u4e1c\u7684\u5165\u5883\u65c5\u884c\u548c\u66f4\u5e7f\u6cdb\u7684\u822a\u73ed\u7f51\u7edc\u4e2d\u65ad\u60c5\u51b5\u5c06\u6301\u7eed\u5230\u7b2c\u4e09\u5b63\u5ea6\u3002\u4ee4\u4eba\u9f13\u821e\u7684\u662f\uff0c\u516c\u53f8\u5728<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9886\u57df\u7684\u6295\u8d44\u5df2\u5f00\u59cb\u4ea7\u751f\u5207\u5b9e\u6548\u76ca\uff0c\u6bcf\u6b21\u9884\u8ba2\u7684\u5ba2\u6237\u670d\u52a1\u6210\u672c\u4ee5\u53cc\u4f4d\u6570\u7684\u6bd4\u7387\u4e0b\u964d\uff0c\u540c\u65f6\u4fdd\u6301\u4e86\u8f83\u9ad8\u7684\u5ba2\u6237\u6ee1\u610f\u5ea6\uff0c\u51f8\u663e\u4e86\u8fd0\u8425\u6548\u7387\u7684\u63d0\u5347\u3002<\/span><span data-contrast=\"auto\">Booking Holdings<\/span><span data-contrast=\"auto\">\u4ecd\u5904\u4e8e\u6709\u5229\u5730\u4f4d\uff0c\u6709\u671b\u53d7\u76ca\u4e8e\u5177\u6709\u97e7\u6027\u7684\u4f11\u95f2\u65c5\u6e38\u9700\u6c42\uff0c\u5c24\u5176\u662f\u5728\u56fd\u5185\u548c\u533a\u57df\u5e02\u573a\uff0c\u800c\u5bf9<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u7684\u6301\u7eed\u6295\u8d44\u5e94\u80fd\u63d0\u5347\u5ba2\u6237\u4f53\u9a8c\u3001\u63d0\u9ad8\u8fd0\u8425\u6548\u7387\u5e76\u652f\u6301\u957f\u671f\u76c8\u5229\u80fd\u529b\u3002\u5c3d\u7ba1\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u548c\u822a\u7a7a\u8fd0\u529b\u9650\u5236\u9884\u8ba1\u5c06\u5728\u77ed\u671f\u5185\u7ee7\u7eed\u5bf9\u56fd\u9645\u65c5\u884c\u9020\u6210\u538b\u529b\uff0c\u4f46\u7ba1\u7406\u5c42\u8ba4\u4e3a\uff0c\u5176\u6280\u672f\u6295\u8d44\u548c\u591a\u5143\u5316\u7684\u5168\u7403\u5e73\u53f0\u4f7f\u516c\u53f8\u80fd\u591f\u5728\u65c5\u884c\u6761\u4ef6\u6b63\u5e38\u5316\u65f6\u628a\u63e1\u9700\u6c42\u3002\u5c55\u671b\u672a\u6765\uff0c\u957f\u9014\u65c5\u884c\u7684\u590d\u82cf\u6b65\u4f10\u3001<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u9884\u8ba2\u529f\u80fd\u7684\u91c7\u7528\u4ee5\u53ca\u65b0\u5174<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u65c5\u884c\u4ee3\u7406\u5e26\u6765\u7684\u7ade\u4e89\u6001\u52bf\uff0c\u5c06\u662f\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\">120<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">140<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Axon Enterprise Inc. (AXON)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">&nbsp;<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"48\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue:&nbsp;<\/span><\/b><span data-contrast=\"auto\">$904.3M<\/span><span data-contrast=\"auto\">, +35.3% YoY,&nbsp;beat&nbsp;estimates&nbsp;by $27.84M<\/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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" 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=\"49\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26&nbsp;Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">:&nbsp;<\/span><span data-contrast=\"auto\">$1.88,&nbsp;beat&nbsp;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}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"50\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:<\/span><\/b><span data-contrast=\"auto\">&nbsp;Raises full-year revenue growth outlook to 32% to 34%;&nbsp;maintains&nbsp;Adjusted EBITDA margin outlook at 25.5%.<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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=\"51\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment:&nbsp;<\/span><\/b><span data-contrast=\"auto\">Axon delivered another record quarter, with revenue rising 35% YoY to US$904mn, marking its 10th consecutive quarter of revenue growth above 30%, driven by strong demand across both its Connected Devices and Software &amp; Services segments. Growth was supported by continued adoption of TASER 10, Axon Body 4,&nbsp;Dedrone&nbsp;and premium software offerings, including the AI Era Plan, while future contracted bookings increased 41% YoY to a record US$15.1bn&nbsp;following several landmark customer wins, including two nine-figure U.S. public safety contracts. Although overall gross margin declined slightly to 62.9% due to a higher mix of lower-margin professional services supporting software deployments, software-only gross margins remained above 80%, highlighting the strength of Axon&#8217;s high-margin recurring software business. Reflecting continued execution and strong demand, management raised its full-year 2026 revenue growth guidance to 32%-34% from 30%-32%, while&nbsp;maintaining&nbsp;its adjusted EBITDA margin target of approximately 25.5%.&nbsp;Axon&nbsp;remains&nbsp;well positioned to sustain strong long-term growth as law enforcement agencies increasingly adopt its integrated public safety ecosystem spanning TASER devices, body cameras, drones, AI-powered&nbsp;software&nbsp;and real-time operations platforms. Its record US$15.1bn&nbsp;contracted bookings backlog, expanding international and enterprise opportunities, and growing adoption of premium software solutions provide strong revenue visibility, while continued investments in new products and AI capabilities are expected to strengthen customer retention and increase recurring software revenue. Although near-term margins may remain pressured by implementation services and product investments, Axon&#8217;s expanding ecosystem and growing software penetration should support durable growth and operating leverage over the longer term.&nbsp;<\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $550 to $650. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Axon&nbsp;Enterprise\uff08AXON<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"45\" 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\">9.043<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">35.3%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">2784<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"46\" 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\">1.88<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"47\" 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\u8425\u6536\u589e\u957f\u9884\u671f\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">32%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">34%<\/span><span data-contrast=\"auto\">\uff1b\u7ef4\u6301\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u5229\u6da6\u7387\u9884\u671f\u4e3a<\/span><span data-contrast=\"auto\">25.5%\u3002<\/span><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<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;multilevel&quot;}\" data-aria-posinset=\"48\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">Axon<\/span><span data-contrast=\"auto\">\u518d\u521b\u5b63\u5ea6\u65b0\u9ad8\uff0c\u8425\u6536\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">35%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">9.04<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u6807\u5fd7\u7740\u5176\u8fde\u7eed\u7b2c<\/span><span data-contrast=\"auto\">10<\/span><span data-contrast=\"auto\">\u4e2a\u5b63\u5ea6\u8425\u6536\u589e\u957f\u8d85\u8fc7<\/span><span data-contrast=\"auto\">30%<\/span><span data-contrast=\"auto\">\uff0c\u8fd9\u5f97\u76ca\u4e8e\u5176\u4e92\u8054\u8bbe\u5907\u548c\u8f6f\u4ef6\u4e0e\u670d\u52a1\u4e24\u5927\u9886\u57df\u7684\u5f3a\u52b2\u9700\u6c42\u3002<\/span><span data-contrast=\"auto\">TASER 10\u3001Axon Body 4\u3001Dedrone<\/span><span data-contrast=\"auto\">\u4ee5\u53ca\u5305\u62ec<\/span><span data-contrast=\"auto\">AI Era Plan<\/span><span data-contrast=\"auto\">\u5728\u5185\u7684\u9ad8\u7ea7\u8f6f\u4ef6\u4ea7\u54c1\u7684\u6301\u7eed\u91c7\u7528\u63a8\u52a8\u4e86\u589e\u957f\uff0c\u800c\u5728\u8d62\u5f97\u5305\u62ec\u4e24\u9879\u4e5d\u4f4d\u6570\u7f8e\u56fd\u516c\u5171\u5b89\u5168\u5408\u540c\u5728\u5185\u7684\u591a\u4e2a\u6807\u5fd7\u6027\u5ba2\u6237\u8ba2\u5355\u540e\uff0c\u672a\u6765\u5408\u540c\u9884\u8ba2\u91cf\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">41%<\/span><span data-contrast=\"auto\">\uff0c\u8fbe\u5230\u521b\u7eaa\u5f55\u7684<\/span><span data-contrast=\"auto\">151<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u5c3d\u7ba1\u7531\u4e8e\u652f\u6301\u8f6f\u4ef6\u90e8\u7f72\u7684\u4f4e\u5229\u6da6\u7387\u4e13\u4e1a\u670d\u52a1\u5360\u6bd4\u589e\u52a0\u5bfc\u81f4\u6574\u4f53\u6bdb\u5229\u7387\u5c0f\u5e45\u4e0b\u964d\u81f3<\/span><span data-contrast=\"auto\">62.9%<\/span><span data-contrast=\"auto\">\uff0c\u4f46\u7eaf\u8f6f\u4ef6\u6bdb\u5229\u7387\u4ecd\u4fdd\u6301\u5728<\/span><span data-contrast=\"auto\">80%<\/span><span data-contrast=\"auto\">\u4ee5\u4e0a\uff0c\u51f8\u663e\u4e86<\/span><span data-contrast=\"auto\">Axon<\/span><span data-contrast=\"auto\">\u9ad8\u5229\u6da6\u7387\u7ecf\u5e38\u6027\u8f6f\u4ef6\u4e1a\u52a1\u7684\u5b9e\u529b\u3002\u53cd\u6620\u51fa\u6301\u7eed\u7684\u6267\u884c\u529b\u548c\u5f3a\u52b2\u7684\u9700\u6c42\uff0c\u7ba1\u7406\u5c42\u5c06\u5176<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74\u5168\u5e74\u8425\u6536\u589e\u957f\u6307\u5f15\u4ece<\/span><span data-contrast=\"auto\">30%-32%<\/span><span data-contrast=\"auto\">\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">32%-34%<\/span><span data-contrast=\"auto\">\uff0c\u540c\u65f6\u7ef4\u6301\u7ea6<\/span><span data-contrast=\"auto\">25.5%<\/span><span data-contrast=\"auto\">\u7684\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u5229\u6da6\u7387\u76ee\u6807\u3002\u968f\u7740\u6267\u6cd5\u673a\u6784\u8d8a\u6765\u8d8a\u591a\u5730\u91c7\u7528\u5176\u6db5\u76d6<\/span><span data-contrast=\"auto\">TASER<\/span><span data-contrast=\"auto\">\u8bbe\u5907\u3001\u6267\u6cd5\u8bb0\u5f55\u4eea\u3001\u65e0\u4eba\u673a\u3001<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u9a71\u52a8\u8f6f\u4ef6\u548c\u5b9e\u65f6\u8fd0\u8425\u5e73\u53f0\u7684\u96c6\u6210\u516c\u5171\u5b89\u5168\u751f\u6001\u7cfb\u7edf\uff0c<\/span><span data-contrast=\"auto\">Axon<\/span><span data-contrast=\"auto\">\u4ecd\u5904\u4e8e\u6709\u5229\u5730\u4f4d\uff0c\u6709\u671b\u7ef4\u6301\u5f3a\u52b2\u7684\u957f\u671f\u589e\u957f\u3002\u5176\u521b\u7eaa\u5f55\u7684<\/span><span data-contrast=\"auto\">151<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u5408\u540c\u9884\u8ba2\u79ef\u538b\u8ba2\u5355\u3001\u4e0d\u65ad\u6269\u5927\u7684\u56fd\u9645\u548c\u4f01\u4e1a\u673a\u9047\uff0c\u4ee5\u53ca\u9ad8\u7ea7\u8f6f\u4ef6\u89e3\u51b3\u65b9\u6848\u91c7\u7528\u7387\u7684\u63d0\u9ad8\uff0c\u63d0\u4f9b\u4e86\u5f3a\u52b2\u7684\u8425\u6536\u53ef\u89c1\u5ea6\uff0c\u800c\u5bf9\u65b0\u4ea7\u54c1\u548c<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u80fd\u529b\u7684\u6301\u7eed\u6295\u8d44\u9884\u8ba1\u5c06\u52a0\u5f3a\u5ba2\u6237\u7559\u5b58\u5e76\u589e\u52a0\u7ecf\u5e38\u6027\u8f6f\u4ef6\u6536\u5165\u3002\u5c3d\u7ba1\u77ed\u671f\u5185\u5229\u6da6\u7387\u53ef\u80fd\u56e0\u5b9e\u65bd\u670d\u52a1\u548c\u4ea7\u54c1\u6295\u8d44\u800c\u627f\u53d7\u538b\u529b\uff0c\u4f46<\/span><span data-contrast=\"auto\">Axon<\/span><span data-contrast=\"auto\">\u4e0d\u65ad\u6269\u5f20\u7684\u751f\u6001\u7cfb\u7edf\u548c\u4e0d\u65ad\u63d0\u9ad8\u7684\u8f6f\u4ef6\u6e17\u900f\u7387\u5e94\u5728\u957f\u671f\u5185\u652f\u6301\u5176\u53ef\u6301\u7eed\u589e\u957f\u548c\u8fd0\u8425\u6760\u6746\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\">550<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">650<\/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=\"{}\">&nbsp;<\/span><\/li>\n<\/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 SPLG SP Singapore Land Group Limited. Shares closed above the 5dEMA\u00a0with rising volume.\u00a0 Both RSI and MACD are constructive.\u00a0\u00a0 Buy \u2013 Entry\u00a03.40, Target\u00a03.90, Stop\u00a03.15\u00a0 CENT SP Centurion Corporation Limited. Shares closed above the 5dEMA\u00a0with rising volume.\u00a0 Both RSI and MACD are constructive.\u00a0\u00a0 Buy \u2013 Entry\u00a01.60,\u00a0Target\u00a01.76, [&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-93121","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 6 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore SPLG SP Singapore Land Group Limited. Shares closed above the 5dEMA with rising volume. Both RSI and MACD are constructive. Buy \u2013 Entry 3.40, Target 3.90, Stop 3.15 CENT SP Centurion Corporation Limited. Shares closed above the 5dEMA with rising volume. Both RSI and MACD\" \/>\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-6-august-2026\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.0.1\" \/>\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: 6 August 2026 \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og:description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 6 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore SPLG SP Singapore Land Group Limited. 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