{"id":93782,"date":"2026-08-27T01:42:47","date_gmt":"2026-08-26T17:42:47","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=93782"},"modified":"2026-08-27T14:18:09","modified_gmt":"2026-08-27T06:18:09","slug":"technical-analysis-27-august-2026","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/","title":{"rendered":"Technical Analysis: 27 August 2026"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"93782\" class=\"elementor elementor-93782\" 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: 27 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;\">STH SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">StarHub Ltd.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05a679f elementor-widget elementor-widget-text-editor\" data-id=\"05a679f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"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=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">Shares closed on the 5dEMA with elevated volume for the week.<\/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=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"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=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Buy Entry 1.10, Target 1.20, Stop 1.05<\/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=\"2042\" height=\"1220\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM.png\" class=\"attachment-full size-full wp-image-93810\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM.png 2042w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM-1024x612.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM-768x459.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM-1536x918.png 1536w\" sizes=\"(max-width: 2042px) 100vw, 2042px\" \/>\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;\">SCI SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Sembcorp Industries Ltd.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc8b150 elementor-widget elementor-widget-text-editor\" data-id=\"cc8b150\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"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=\"7\" data-aria-level=\"1\"><span data-contrast=\"none\">Shares closed above the 5dEMA with rising volume.<\/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=\"8\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are both constructive.\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=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Buy \u2013 Entry 6.0, Target 6.6, Stop 5.7<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<br \/><\/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=\"2042\" height=\"1218\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.02-AM.png\" class=\"attachment-full size-full wp-image-93811\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.02-AM.png 2042w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.02-AM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.02-AM-1024x611.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.02-AM-768x458.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.02-AM-1536x916.png 1536w\" sizes=\"(max-width: 2042px) 100vw, 2042px\" \/>\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-3d487d4 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"3d487d4\" 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-0750803 elementor-widget elementor-widget-text-editor\" data-id=\"0750803\" 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;\">1816 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">CGN Power Co Ltd.\u00a0<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-124ee20 elementor-widget elementor-widget-text-editor\" data-id=\"124ee20\" 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=\"3\" 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 at a two-months high above the 100dEMA with rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" 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=\"3\" 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 <\/span><\/b><span data-contrast=\"auto\">\u2013 <\/span><b><span data-contrast=\"auto\">Entry 2.9, Target 3.1, Stop 2.8<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<br \/><\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f056d27 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"f056d27\" 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-f49f4ce elementor-widget elementor-widget-image\" data-id=\"f49f4ce\" 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=\"2042\" height=\"1144\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.56-AM.png\" class=\"attachment-full size-full wp-image-93812\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.56-AM.png 2042w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.56-AM-300x168.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.56-AM-1024x574.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.56-AM-768x430.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.40.56-AM-1536x861.png 1536w\" sizes=\"(max-width: 2042px) 100vw, 2042px\" \/>\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;\">135 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Kunlun Energy Co Ltd\u00a0<\/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=\"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\"><span data-contrast=\"auto\">Shares closed at a three-months high above the 5dEMA with rising volume.<\/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=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">RSI is slightly overbought while MACD is constructive.\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=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry 7.4, Target 8.0, Stop 7.1<\/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=\"2044\" height=\"1146\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.41.36-AM.png\" class=\"attachment-full size-full wp-image-93813\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.41.36-AM.png 2044w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.41.36-AM-300x168.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.41.36-AM-1024x574.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.41.36-AM-768x431.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.41.36-AM-1536x861.png 1536w\" sizes=\"(max-width: 2044px) 100vw, 2044px\" \/>\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: 0px 0px 6px; text-align: left;\">QMCO US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Quantum 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 above the 5dEMA with elevated volume for the week.\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\">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=\"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 23, Target 27, Stop 21<\/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-49d6d3a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"49d6d3a\" 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=\"906\" height=\"536\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.22-PM.png\" class=\"attachment-full size-full wp-image-93817\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.22-PM.png 906w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.22-PM-300x177.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.22-PM-768x454.png 768w\" sizes=\"(max-width: 906px) 100vw, 906px\" \/>\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;\">P US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Everpure, 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 above the 5dEMA with elevated 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 106, Target 118, Stop 100<\/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=\"906\" height=\"533\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.51-PM.png\" class=\"attachment-full size-full wp-image-93818\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.51-PM.png 906w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.51-PM-300x176.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-2.15.51-PM-768x452.png 768w\" sizes=\"(max-width: 906px) 100vw, 906px\" \/>\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\">Kohls Corp. (KSS)<\/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=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$3.3B<\/span><span data-contrast=\"auto\">, flat YoY, beat estimates by <\/span><span data-contrast=\"auto\">$100M<\/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=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$0.56, miss 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=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised its full-year comparable sales outlook to a range of down 1.5% to flat, from a wider prior range. The company also kept adjusted operating margin guidance at 3.5% to 4.0% and maintained adjusted earnings guidance of $1.80 to $2.40 a share. Management said about $0.65 of that guidance reflects tariff refunds. The company expects those refunds to be reinvested in the business rather than fully passed through to profit. It expects Operating cash flow of about $950M to $1B, capital spending of $350M to $400M, free cash flow of about $600M and year-end cash of $800M to $900M.<\/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=\"10\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Plans to buy back about $100M of stock in 2026, its first buyback since 2022. Kohl\u2019s has maintained dividend payments for 16 consecutive years, currently offering a 2.83% yield.<\/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=\"11\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">Kohl&#8217;s reported another quarter of sequential improvement, with comparable sales declining just 0.9% as momentum strengthened across key categories including Home, Kids, Juniors and proprietary brands, while digital sales grew 2.8% and Marketplace GMV surged 88%. The company continued to execute well on expense, inventory and balance sheet management, significantly improving cash flow and financial flexibility, supported by over US$820mn in cash and reduced long-term debt. Gross margin expanded by 305 basis points, aided by tariff refunds and disciplined operations, allowing Kohl&#8217;s to reinvest in inventory, value pricing, marketing and store improvements despite persistent macroeconomic pressure on its value-oriented customer base. Management also resumed share repurchases for the first time since 2022 and raised its full-year guidance, reflecting confidence in its ongoing turnaround initiatives. Looking ahead, Kohl&#8217;s expects continued sequential improvement as investments in proprietary brands, value-focused merchandising, omnichannel capabilities and digital enhancements drive customer engagement and sales productivity. While management remains cautious on the pressured discretionary spending environment, its strengthened balance sheet, improved inventory position and targeted investments in apparel, marketing and AI-powered shopping experiences should support further operational improvement. Continued execution on category refreshes, Marketplace expansion and customer loyalty initiatives will be key to sustaining sales momentum and restoring longer-term profitability. <\/span><b><span data-contrast=\"auto\">3Q27 recommended trading range: $16 to $20. 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\">Kohl&#8217;s Corp.\uff08KSS<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><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=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">33<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u6301\u5e73\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">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\">27<\/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\">0.56<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u5fae\u4f4e\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">0.01<\/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\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5168\u5e74\u540c\u5e97\u9500\u552e\u9884\u671f\u81f3\u4e0b\u964d<\/span><span data-contrast=\"auto\">1.5%<\/span><span data-contrast=\"auto\">\u81f3\u6301\u5e73\uff08\u6536\u7a84\u4e86\u6b64\u524d\u7684\u60b2\u89c2\u9884\u671f\u533a\u95f4\uff09\uff1b\u7ef4\u6301\u8c03\u6574\u540e\u8425\u4e1a\u5229\u6da6\u7387\u6307\u5f15\u5728<\/span><span data-contrast=\"auto\">3.5%\u20134.0%<\/span><span data-contrast=\"auto\">\uff1b\u7ef4\u6301\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EPS<\/span><span data-contrast=\"auto\">\u6307\u5f15\u5728<\/span><span data-contrast=\"auto\">1.80\u20132.40<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff08\u5176\u4e2d\u7ea6<\/span><span data-contrast=\"auto\">0.65<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u6765\u81ea\u5173\u7a0e\u8fd4\u8fd8\uff0c\u516c\u53f8\u8ba1\u5212\u5c06\u8fd9\u7b14\u8d44\u91d1\u518d\u6295\u8d44\u4e8e\u4e1a\u52a1\u8fd0\u8425\uff0c\u800c\u975e\u5168\u90e8\u8f6c\u5316\u4e3a\u8d26\u9762\u5229\u6da6\uff09\uff1b\u9884\u8ba1\u7ecf\u8425\u73b0\u91d1\u6d41<\/span><span data-contrast=\"auto\">9.5<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">10<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u8d44\u672c\u5f00\u652f<\/span><span data-contrast=\"auto\">3.5<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u81ea\u7531\u73b0\u91d1\u6d41\u7ea6<\/span><span data-contrast=\"auto\">6<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u5e74\u672b\u73b0\u91d1\u4f59\u989d<\/span><span data-contrast=\"auto\">8<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">9<\/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=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8ba1\u5212\u5728<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74\u56de\u8d2d\u7ea6<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u80a1\u7968\uff08\u7cfb<\/span><span data-contrast=\"auto\">2022<\/span><span data-contrast=\"auto\">\u5e74\u4ee5\u6765\u9996\u6b21\u6062\u590d\u56de\u8d2d\uff09\uff1b\u5df2\u8fde\u7eed<\/span><span data-contrast=\"auto\">16<\/span><span data-contrast=\"auto\">\u5e74\u7ef4\u6301\u6d3e\u606f\uff0c\u5f53\u524d\u80a1\u606f\u7387\u8fbe<\/span><span data-contrast=\"auto\">2.83%\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=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6<\/span><span data-contrast=\"auto\">Kohl&#8217;s<\/span><span data-contrast=\"auto\">\u5c55\u73b0\u51fa\u6301\u7eed\u7684\u73af\u6bd4\u6539\u5584\u8ff9\u8c61\uff0c\u8f6c\u578b\u6218\u7565\u521d\u89c1\u6210\u6548\u3002\u540c\u5e97\u9500\u552e\u964d\u5e45\u6536\u7a84\u81f3\u4ec5<\/span><span data-contrast=\"auto\">0.9%<\/span><span data-contrast=\"auto\">\uff0c\u5bb6\u5c45\u3001\u7ae5\u88c5\u3001\u9752\u5c11\u5e74\u670d\u9970\u53ca\u81ea\u6709\u54c1\u724c\u7b49\u6838\u5fc3\u54c1\u7c7b\u52a8\u80fd\u589e\u5f3a\uff1b\u6570\u5b57\u9500\u552e\u589e\u957f<\/span><span data-contrast=\"auto\">2.8%<\/span><span data-contrast=\"auto\">\uff0c\u7b2c\u4e09\u65b9\u5e73\u53f0\uff08<\/span><span data-contrast=\"auto\">Marketplace<\/span><span data-contrast=\"auto\">\uff09\u3002\u8d22\u52a1\u4e0e\u8fd0\u8425\u8d28\u91cf\u663e\u8457\u63d0\u5347\uff1a\u6bdb\u5229\u7387\u540c\u6bd4\u5927\u5e45\u6269\u5f20<\/span><span data-contrast=\"auto\">305<\/span><span data-contrast=\"auto\">\u4e2a\u57fa\u70b9\uff08\u5f97\u76ca\u4e8e\u5173\u7a0e\u8fd4\u8fd8\u4e0e\u4e25\u683c\u7684\u8fd0\u8425\u7ba1\u63a7\uff09\u3002\u516c\u53f8\u624b\u63e1\u8d85<\/span><span data-contrast=\"auto\">8.2<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u73b0\u91d1\u5e76\u524a\u51cf\u4e86\u957f\u671f\u503a\u52a1\uff0c\u8d44\u4ea7\u8d1f\u503a\u8868\u663e\u8457\u589e\u5f3a\u3002\u7ba1\u7406\u5c42\u9009\u62e9\u5c06\u5173\u7a0e\u8fd4\u8fd8\u5e26\u6765\u7684\u5229\u6da6\u7ea2\u5229\u201c\u518d\u6295\u8d44\u201d\u4e8e\u5e93\u5b58\u8865\u5145\u3001\u4ef7\u503c\u5b9a\u4ef7\u3001\u8425\u9500\u53ca\u95e8\u5e97\u5347\u7ea7\uff0c\u800c\u975e\u77ed\u671f\u7c89\u9970\u76c8\u5229\uff0c\u5e76\u636e\u6b64\u4e0a\u8c03\u4e86\u5168\u5e74\u540c\u5e97\u9500\u552e\u6307\u5f15\uff0c\u540c\u65f6\u65f6\u9694\u56db\u5e74\u9996\u6b21\u6062\u590d\u80a1\u7968\u56de\u8d2d\uff0c\u5f70\u663e\u4e86\u5bf9\u957f\u671f\u8f6c\u578b\u6218\u7565\u7684\u4fe1\u5fc3\u3002\u7136\u800c\uff0c\u6838\u5fc3\u6311\u6218\u4f9d\u7136\u5b58\u5728\uff1a\u5b8f\u89c2\u73af\u5883\u4e0b\u5176\u6838\u5fc3\u5ba2\u7fa4\uff08\u8ffd\u6c42\u6027\u4ef7\u6bd4\u7684\u6d88\u8d39\u8005\uff09\u7684\u975e\u5fc5\u9700\u54c1\u652f\u51fa\u4f9d\u7136\u627f\u538b\uff0c\u7ba1\u7406\u5c42\u5bf9\u6b64\u4fdd\u6301\u8c28\u614e\u3002<\/span><span data-contrast=\"auto\">EPS<\/span><span data-contrast=\"auto\">\u5fae\u5e45<\/span><span data-contrast=\"auto\">miss<\/span><span data-contrast=\"auto\">\u4e5f\u53cd\u6620\u51fa\u8f6c\u578b\u671f\u518d\u6295\u8d44\u5bf9\u77ed\u671f\u8d26\u9762\u5229\u6da6\u7684\u4fb5\u8680\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u6838\u5fc3\u54c1\u7c7b\uff08\u5c24\u5176\u662f\u670d\u88c5\u4e0e\u5bb6\u5c45\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">2\uff09Marketplace<\/span><span data-contrast=\"auto\">\u5e73\u53f0\u7684<\/span><span data-contrast=\"auto\">GMV<\/span><span data-contrast=\"auto\">\u6269\u5f20\u4e0e\u8d27\u5e01\u5316\u8fdb\u5c55\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u5173\u7a0e\u8fd4\u8fd8\u518d\u6295\u8d44\u5bf9\u5ba2\u6d41\u4e0e\u8f6c\u5316\u7387\u7684\u5b9e\u9645\u62c9\u52a8\u6548\u679c\uff1b\uff08<\/span><span data-contrast=\"auto\">4\uff09AI<\/span><span data-contrast=\"auto\">\u8d2d\u7269\u4f53\u9a8c\u4e0e\u5168\u6e20\u9053\u80fd\u529b\u7684\u843d\u5730\u6210\u6548\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u81ea\u7531\u73b0\u91d1\u6d41\u7684\u7a33\u5b9a\u6027\u4e0e\u56de\u8d2d\u8ba1\u5212\u7684\u6267\u884c\u3002<\/span><span data-contrast=\"auto\">Kohl&#8217;s <\/span><span data-contrast=\"auto\">\u6b63\u5904\u4e8e\u8270\u96be\u4f46\u65b9\u5411\u6b63\u786e\u7684\u8f6c\u578b\u6df1\u6c34\u533a\uff0c\u8d44\u4ea7\u8d1f\u503a\u8868\u7684\u4fee\u590d\u4e0e\u5f3a\u52b2\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u4e3a\u5176\u8d62\u5f97\u4e86\u5b9d\u8d35\u7684\u6218\u7565\u7f13\u51b2\u671f\u3002\u82e5\u81ea\u6709\u54c1\u724c\u4e0e\u5e73\u53f0\u751f\u6001\u80fd\u6301\u7eed\u53d1\u529b\uff0c\u4f30\u503c\u6709\u671b\u8fce\u6765\u4fee\u590d\u3002<\/span><b><span data-contrast=\"auto\">27<\/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\">16<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">20<\/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\">Li Auto Inc. (LI)<\/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=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$3.78B<\/span><span data-contrast=\"auto\">, -10.0% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$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=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Non-GAAP EPADS<\/span><\/b><span data-contrast=\"auto\">: &#8211;<\/span><span data-contrast=\"auto\">$0.22, in-line with estimates&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=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Expects 95,000-100,000 deliveries and total revenues of CNY26.6-28.0B. The company expects margin expansion in the second half as product mix improves with higher sales contribution from Livis trim models and the launch of refreshed BEV models and the Li i9.<\/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=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">Li Auto reported a weaker second quarter as revenue declined to CNY25.7bn and deliveries fell 11.5% to 98,330 vehicles amid a major model refresh cycle. Gross margin compressed to 11.0% from 20.1%, while vehicle margin fell to 9.4%, resulting in a net loss of CNY1.7bn compared with a profit a year earlier. However, sequential performance improved, with revenue rising 11.7% QoQ, gross margin recovering from 7.9%, operating losses narrowing, and free cash flow improving significantly. The company launched refreshed Li L8 and Li L6 models during the quarter, continued investing in its AI and semiconductor capabilities through the MACH M100 chip platform, and maintained a strong balance sheet with CNY87.5bn in cash while repurchasing US$631.5mn of shares. Management expects product mix improvements and new model launches to support margin recovery in the second half of the year. Looking ahead, Li Auto expects third-quarter deliveries of 95,000-100,000 vehicles and revenue of CNY26.6-28.0bn, with profitability supported by an improving product mix, higher contributions from Livis trim models, and upcoming refreshed BEV launches, including the Li i9. While sequential margin recovery suggests pricing and model transition pressures are easing, delivery guidance remains relatively modest, indicating that demand recovery is likely to be gradual. Continued execution of its product refresh strategy, AI investments and strong liquidity position should support long-term competitiveness, although achieving its full-year delivery target in the near-term will likely require a significant acceleration in volumes. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $10 to $13. Negative 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\">\u7406\u60f3\u6c7d\u8f66\uff08LI<\/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\">37.8\u4ebf\u7f8e\u5143\uff08\u7ea6\u5408257\u4ebf\u5143\u4eba\u6c11\u5e01\uff09\uff0c\u540c\u6bd4\u4e0b\u964d10.0%\uff0c\u8d85\u51fa\u9884\u671f5000\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=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcfADS\u4e8f\u635f\uff08EPADS\uff09\uff1a<\/span><\/b><span data-contrast=\"auto\">0.22\u7f8e\u5143\uff0c\u7b26\u5408\u9884\u671f<\/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\">\u4ea4\u4ed8\u91cf\u9884\u8ba1\u4e3a9.5\u4e07\u201310\u4e07\u8f86\uff1b\u603b\u8425\u6536\u9884\u8ba1\u4e3a266\u4ebf\u2013280\u4ebf\u5143\u4eba\u6c11\u5e01\uff1b\u7ba1\u7406\u5c42\u9884\u8ba1\u4e0b\u534a\u5e74\u968f\u7740<\/span><span data-contrast=\"auto\">Livis<\/span><span data-contrast=\"auto\">\u7cfb\u5217\/\u9ad8\u914d\u8f66\u578b\u9500\u91cf\u8d21\u732e\u589e\u52a0\uff0c\u4ee5\u53ca\u6539\u6b3e\u7eaf\u7535\uff08BEV\uff09\u7684\u63a8\u51fa\uff0c\u4ea7\u54c1\u7ec4\u5408\u6539\u5584\u5c06\u5e26\u52a8\u5229\u6da6\u7387\u6269\u5f20\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=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u7406\u60f3\u6c7d\u8f66\u6b63\u5904\u4e8e\u91cd\u5927\u8f66\u578b\u6362\u4ee3\u4e0e\u6218\u7565\u8c03\u6574\u7684\u201c\u9635\u75db\u671f\u201d\uff0c\u8868\u89c2\u540c\u6bd4\u6570\u636e\u627f\u538b\u3002\u53d7\u65b0\u8001\u8f66\u578b\u5207\u6362\u5f71\u54cd\uff0c\u4ea4\u4ed8\u91cf\u540c\u6bd4\u4e0b\u964d11.5%\u81f398,330\u8f86\uff1b\u6bdb\u5229\u7387\u4ece\u53bb\u5e74\u768420.1%\u5927\u5e45\u538b\u7f29\u81f311.0%\uff0c\u6c7d\u8f66\u6bdb\u5229\u7387\u964d\u81f39.4%\uff0c\u5bfc\u81f4\u516c\u53f8\u5f55\u5f9717\u4ebf\u5143\u4eba\u6c11\u5e01\u7684\u51c0\u4e8f\u635f\uff08\u53bb\u5e74\u540c\u671f\u4e3a\u76c8\u5229\uff09\u3002\u7136\u800c\uff0c\u73af\u6bd4\u6570\u636e\u7684\u663e\u8457\u6539\u5584\u91ca\u653e\u4e86\u79ef\u6781\u4fe1\u53f7\uff1a\u8425\u6536\u73af\u6bd4\u589e\u957f11.7%\uff0c\u6bdb\u5229\u7387\u4ece\u4e00\u5b63\u5ea6\u76847.9%\u660e\u663e\u56de\u5347\uff0c\u8fd0\u8425\u4e8f\u635f\u6536\u7a84\uff0c\u81ea\u7531\u73b0\u91d1\u6d41\u4e5f\u5f97\u5230\u663e\u8457\u4fee\u590d\u3002\u8fd9\u8868\u660e\u524d\u671f\u7684\u964d\u4ef7\u4fc3\u9500\u4e0e\u8f66\u578b\u8fc7\u6e21\u538b\u529b\u6b63\u5728\u9010\u6b65\u7f13\u89e3\u3002\u5728\u6218\u7565\u4e0e\u8d22\u52a1\u50a8\u5907\u65b9\u9762\uff0c\u516c\u53f8\u4f9d\u7136\u4fdd\u6301\u4e86\u6781\u5f3a\u7684\u5b9a\u529b\u4e0e\u5e95\u6c14\uff1a\u5b63\u5ea6\u5185\u987a\u5229\u63a8\u51fa\u4e86\u6539\u6b3eL8\u4e0eL6\uff0c\u5e76\u901a\u8fc7MACH M100\u82af\u7247\u5e73\u53f0\u6301\u7eed\u52a0\u7801AI\u4e0e\u81ea\u7814\u534a\u5bfc\u4f53\u80fd\u529b\uff1b\u8d44\u4ea7\u8d1f\u503a\u8868\u6781\u4e3a\u5f3a\u5065\uff0c\u624b\u63e1875\u4ebf\u5143\u4eba\u6c11\u5e01\u73b0\u91d1\uff0c\u5e76\u5728\u672c\u5b63\u5ea6\u65a5\u8d446.315\u4ebf\u7f8e\u5143\u56de\u8d2d\u80a1\u7968\uff0c\u5f70\u663e\u4e86\u7ba1\u7406\u5c42\u5bf9\u957f\u671f\u4ef7\u503c\u7684\u4fe1\u5fc3\u3002\u5c3d\u7ba1\u73af\u6bd4\u6bdb\u5229\u7387\u56de\u5347\u8868\u660e\u6700\u574f\u7684\u65f6\u523b\u53ef\u80fd\u5df2\u7ecf\u8fc7\u53bb\uff0c\u4f46Q3\u76f8\u5bf9\u4fdd\u5b88\u7684\u4ea4\u4ed8\u6307\u5f15\uff089.5\u4e07-10\u4e07\u8f86\uff09\uff0c\u6697\u793a\u9700\u6c42\u7684\u590d\u82cf\u5c06\u662f\u6e10\u8fdb\u5f0f\u7684\uff0c\u77ed\u671f\u5185\u8981\u5b9e\u73b0\u5168\u5e74\u4ea4\u4ed8\u76ee\u6807\u4ecd\u9700\u9500\u91cf\u7684\u663e\u8457\u52a0\u901f\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u6539\u6b3eL\u7cfb\u5217\u53ca\u540e\u7eed\u7eaf\u7535\u8f66\u578b\uff08\u5982\u7406\u60f3i9\uff09\uff1b\uff082\uff09\u6c7d\u8f66\u6bdb\u5229\u7387\u80fd\u5426\u5728\u4e0b\u534a\u5e74\u968f\u9ad8\u914d\u8f66\u578b\u5360\u6bd4\u63d0\u5347\u800c\u6301\u7eed\u4fee\u590d\uff1b\uff083\uff09\u81ea\u7814\u82af\u7247\u4e0eAI\u667a\u9a7e\u80fd\u529b\u7684\u843d\u5730\u5bf9\u54c1\u724c\u6ea2\u4ef7\u7684\u652f\u6491\uff1b\uff084\uff09\u56fd\u5185\u65b0\u80fd\u6e90\u8f66\u5e02\u4ef7\u683c\u6218\u7684\u70c8\u5ea6\u53ca\u5b8f\u89c2\u6d88\u8d39\u610f\u613f\uff1b\uff085\uff09\u7eaf\u7535\u6218\u7565\u8c03\u6574\u540e\u7684\u5e02\u573a\u63a5\u53d7\u5ea6\u3002\u7406\u60f3\u6c7d\u8f66\u5728\u7ecf\u5386\u7eaf\u7535\u6218\u7565\u53d7\u632b\u4e0e\u4ea7\u54c1\u7ebf\u6362\u4ee3\u7684\u77ed\u671f\u4f4e\u8c37\u540e\uff0c\u6b63\u901a\u8fc7\u5f3a\u5927\u7684\u73b0\u91d1\u6d41\u50a8\u5907\u4e0e\u5feb\u901f\u7684\u4ea7\u54c1\u8fed\u4ee3\u7a33\u4f4f\u9635\u811a\u3002\u4f46\u77ed\u671f\u5185\uff0c\u540c\u6bd4\u76c8\u5229\u7684\u6076\u5316\u4e0e\u7eaf\u7535\u8f66\u578b\u7684\u4e0d\u786e\u5b9a\u6027\u4ecd\u5bf9\u4f30\u503c\u6784\u6210\u538b\u5236\uff0c\u9700\u7b49\u5f85\u65b0\u5468\u671f\u4ea7\u54c1\u9500\u91cf\u7684\u5b9e\u8d28\u6027\u7206\u53d1\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a10\u7f8e\u5143\u81f313\u7f8e\u5143\u3002\u8d1f\u9762\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\">Photronics Inc. (PLAB)<\/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=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$216M<\/span><span data-contrast=\"auto\">, +2.7% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$7.25M<\/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=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$0.50, beat estimates by $0.10<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">&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=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Expect revenue between $207M and $227M, compared with a consensus estimate of approximately $216M. The company expects non-GAAP diluted earnings per share in the range of $0.40 to $0.56, versus analyst projections of about $0.42, and an operating margin of 19% to 24%.<\/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=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26 Guidance:<\/span><\/b><span data-contrast=\"auto\"> Lowered fiscal 2026 capital spending guidance to $255M to $305M from $330M, reflecting timing shifts in customer orders and vendor deliveries.<\/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=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">Photronics reported fiscal 3Q26 revenue of US$216mn, rising 3% YoY, exceeding the high end of guidance as delayed semiconductor design releases from the prior quarter began recovering, supported by continued node migration and strong demand for high-end photomasks. High-end IC revenue reached a record 44% of IC sales, benefiting from customers migrating to advanced process nodes such as 28nm, 22nm and 14nm, while FPD revenue remained near record levels, driven by robust OLED demand and increasing G8.6 AMOLED orders. Gross margin improved to 33% on a stronger product mix, while the company continued advancing strategic investments in the U.S. and Korea to expand advanced-node manufacturing capabilities and progress its long-term EUV roadmap. Backed by a strong balance sheet with US$673mn in cash and investments, Photronics remains well positioned to fund growth initiatives while maintaining disciplined capital allocation. Looking ahead, Photronics expects demand for advanced semiconductor and display photomasks to remain supported by ongoing node migration, OLED adoption, and increasing outsourcing opportunities from semiconductor manufacturers. The ramp-up of its Allen, Texas facility and Korea expansion, alongside the gradual introduction of EUV capabilities, should strengthen its competitive position and expand its addressable market over the medium term. While management expects high-end demand to remain resilient, near-term revenue visibility remains limited due to the timing of semiconductor design releases, memory supply constraints and geopolitical uncertainties. Nevertheless, continued investments in advanced manufacturing capacity and technology are expected to position the company to capture long-term growth in the high-end photomask market. <\/span><b><span data-contrast=\"auto\">4Q26 recommended trading range: $30 to $36. 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\">Photronics Inc.\uff08PLAB<\/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\u4e09\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">2.16\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f2.7%\uff0c\u8d85\u51fa\u9884\u671f725\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\u4e09\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.50\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.10\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\u56db\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u9884\u8ba1\u4e3a2.07\u4ebf\u20132.27\u4ebf\u7f8e\u5143\uff08\u5e02\u573a\u5171\u8bc6\u7ea62.16\u4ebf\u7f8e\u5143\uff09\uff1b\u975eGAAP\u6bcf\u80a1\u6536\u76ca\u9884\u8ba1\u4e3a0.40\u20130.56\u7f8e\u5143\uff08\u9ad8\u4e8e\u5206\u6790\u5e08\u9884\u671f\u7684\u7ea60.42\u7f8e\u5143\uff09\uff1b\u8425\u4e1a\u5229\u6da6\u7387\u9884\u8ba1\u4e3a19%\u201324%\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=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u8d44\u672c\u5f00\u652f\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0b\u8c03\u5168\u5e74\u8d44\u672c\u5f00\u652f\u6307\u5f15\u81f32.55\u4ebf\u20133.05\u4ebf\u7f8e\u5143\uff08\u6b64\u524d\u4e3a3.3\u4ebf\u7f8e\u5143\uff09\uff0c\u4e3b\u8981\u53d7\u5ba2\u6237\u8ba2\u5355\u4e0e\u4f9b\u5e94\u5546\u8bbe\u5907\u4ea4\u4ed8\u7684\u65f6\u95f4\u8282\u70b9\u9519\u4f4d\u5f71\u54cd\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=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8868\u73b0\u7a33\u5065\uff0c\u8425\u6536\u4e0e\u76c8\u5229\u53cc\u53cc\u8d85\u9884\u671f\uff0c\u5e76\u89e6\u53ca\u6307\u5f15\u533a\u95f4\u7684\u4e0a\u9650\u3002\u524d\u671f\u5ef6\u8fdf\u7684\u534a\u5bfc\u4f53\u8bbe\u8ba1\u91ca\u653e\u5f00\u59cb\u6062\u590d\uff0c\u9ad8\u7aef\u5149\u63a9\u6a21\uff08photomask\uff09\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8e\u4ea7\u54c1\u7ed3\u6784\u7684\u6301\u7eed\u4f18\u5316\uff1a\u9ad8\u7aefIC\u8425\u6536\u5360IC\u603b\u9500\u552e\u989d\u7684\u6bd4\u4f8b\u521b\u4e0b44%\u7684\u5386\u53f2\u65b0\u9ad8\uff0c\u76f4\u63a5\u53d7\u76ca\u4e8e\u5ba2\u6237\u541128nm\u300122nm\u53ca14nm\u7b49\u5148\u8fdb\u5236\u7a0b\u8282\u70b9\u7684\u8fc1\u79fb\u3002\u540c\u65f6\uff0c\u5e73\u677f\u663e\u793a\uff08FPD\uff09\uff0c\u4e3b\u8981\u53d7\u5f3a\u52b2\u7684OLED\u9700\u6c42\u53caG8.6 AMOLED\u8ba2\u5355\u589e\u52a0\u7684\u9a71\u52a8\u3002\u5f97\u76ca\u4e8e\u9ad8\u9644\u52a0\u503c\u4ea7\u54c1\u7ec4\u5408\u7684\u6539\u5584\uff0c\u6bdb\u5229\u7387\u63d0\u5347\u81f333%\u3002\u6218\u7565\u4e0e\u8d22\u52a1\u5e95\u76d8\uff1a\u516c\u53f8\u6b63\u6301\u7eed\u63a8\u8fdb\u5728\u7f8e\u56fd\uff08\u5fb7\u5ddeAllen\u5de5\u5382\uff09\u548c\u97e9\u56fd\u7684\u6218\u7565\u6295\u8d44\uff0c\u4ee5\u6269\u5145\u5148\u8fdb\u8282\u70b9\u5236\u9020\u80fd\u529b\u5e76\u63a8\u8fdb\u957f\u671f\u7684EUV\uff08\u6781\u7d2b\u5916\uff09\u3002\u624b\u63e16.73\u4ebf\u7f8e\u5143\u7684\u73b0\u91d1\u53ca\u6295\u8d44\uff0c\u8d44\u4ea7\u8d1f\u503a\u8868\u6781\u4e3a\u5f3a\u5065\uff0c\u8db3\u4ee5\u652f\u6491\u672a\u6765\u7684\u6269\u5f20\u4e0e\u8d44\u672c\u5206\u914d\u3002\u7136\u800c\uff0c\u77ed\u671f\u80fd\u89c1\u5ea6\u4e0e\u5b8f\u89c2\u6270\u52a8\u4ecd\u662f\u9690\u5fe7\u3002\u7ba1\u7406\u5c42\u4e0b\u8c03\u4e86\u5168\u5e74\u7684\u8d44\u672c\u5f00\u652f\u6307\u5f15\uff0c\u53cd\u6620\u51fa\u534a\u5bfc\u4f53\u8bbe\u8ba1\u91ca\u653e\u7684\u65f6\u95f4\u8282\u70b9\u3001\u5b58\u50a8\u82af\u7247\u4f9b\u5e94\u53d7\u9650\u4ee5\u53ca\u5730\u7f18\u653f\u6cbb\u4e0d\u786e\u5b9a\u6027\uff0c\u4f7f\u5f97\u77ed\u671f\u8425\u6536\u4e0e\u4ea7\u80fd\u6269\u5f20\u7684\u80fd\u89c1\u5ea6\u4f9d\u7136\u53d7\u9650\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u5148\u8fdb\u5236\u7a0b\uff0828nm\u53ca\u4ee5\u4e0b\uff09\uff1b\uff082\uff09OLED\u53caG8.6 AMOLED\u9762\u677f\u9700\u6c42\u7684\u6301\u7eed\u6027\uff1b\uff083\uff09\u5fb7\u5dde\u4e0e\u97e9\u56fd\u65b0\u4ea7\u80fd\u7684\u722c\u5761\u4e0e\u5229\u7528\u7387\uff1b\uff084\uff09EUV\u5149\u63a9\u6a21\u80fd\u529b\u7684\u5546\u4e1a\u5316\u843d\u5730\u8fdb\u5ea6\uff1b\uff085\uff09\u534a\u5bfc\u4f53\u8bbe\u8ba1\u5468\u671f\u4e0e\u5b58\u50a8\u82af\u7247\u5e02\u573a\u7684\u590d\u82cf\u8282\u594f\u3002<\/span><span data-contrast=\"auto\">Photronics<\/span><span data-contrast=\"auto\"> \u4f5c\u4e3a\u5168\u7403\u9886\u5148\u7684\u5149\u63a9\u6a21\u4f9b\u5e94\u5546\uff0c\u6b63\u6df1\u5ea6\u53d7\u76ca\u4e8e\u534a\u5bfc\u4f53\u5148\u8fdb\u5236\u7a0b\u6f14\u8fdb\u4e0e\u9ad8\u7aef\u663e\u793a\u6280\u672f\u5347\u7ea7\u7684\u53cc\u91cd\u7ea2\u5229\uff0c\u9ad8\u7aef\u4ea7\u54c1\u5360\u6bd4\u7684\u63d0\u5347\u663e\u8457\u6539\u5584\u4e86\u5176\u76c8\u5229\u8d28\u91cf\u3002\u5c3d\u7ba1\u77ed\u671f\u53d7\u5236\u4e8e\u884c\u4e1a\u5468\u671f\u6ce2\u52a8\u4e0e\u8ba2\u5355\u8282\u594f\uff0c\u4f46\u5176\u5f3a\u5065\u7684\u73b0\u91d1\u6d41\u4e0e\u6e05\u6670\u7684\u4ea7\u80fd\u6269\u5f20\u8def\u5f84\u4e3a\u5176\u957f\u671f\u589e\u957f\u63d0\u4f9b\u4e86\u575a\u5b9e\u4fdd\u969c\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a30\u7f8e\u5143\u81f336\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\">NVIDIA Corp. (NVDA)<\/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=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$96.22B<\/span><span data-contrast=\"auto\">, +105.9% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$4.06B<\/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=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$2.22, beat estimates by $0.13<\/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=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Expect sales of $108B, plus or minus 2%, analysts were expecting guidance of $104.2B and gross margin to decline and bottom out in the Q4, in the range of 71% to 72%, partially due to memory prices.<\/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=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY28 Guidance:<\/span><\/b><span data-contrast=\"auto\"> Expect revenue in fiscal 2028 to rise 70% and resets gross margin outlook to 72%-73%.<\/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=\"25\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Spent $26B on share repurchases and dividends during the quarter. In May the company authorized an additional $80B in buybacks. It also plans to pay a $0.25 per share 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=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was an exceptionally strong beat-and-raise quarter. Revenue exceeded consensus by roughly US$4B, Data Center more than doubled, and the US$108B Q3 guide implies NVIDIA&#8217;s quarterly revenue has more than doubled within a year. More importantly, demand remains supply constrained, while hyperscaler AI capex continues to rise and Rubin is already entering production. NVIDIA therefore appears positioned to transition from Blackwell to Rubin without the demand air pocket previously feared. The key issue is now margin rather than demand. Q3 gross-margin guidance declines to 74%, with rising HBM and other memory costs increasingly pressuring system economics. NVIDIA&#8217;s expanding involvement in AI-infrastructure financing also warrants monitoring, although disclosed direct exposure remains modest relative to its earnings and balance sheet. China represents asymmetric optionality: the US$108B guide excludes China Data Center compute entirely, meaning regulatory approval for meaningful H200 shipments could provide incremental upside. Shares initially declined after the release but subsequently reversed higher, rising approximately 4% as investors digested the stronger Q3 outlook and management commentary. The principal variables to monitor are Rubin production, Blackwell\/Rubin supply constraints, hyperscaler capex, gross-margin compression from memory costs, China H200 approvals and the sustainability of &gt;100% Data Center growth. The combination of a material beat, guidance well above consensus, accelerating AI compute demand and China upside optionality outweighs near-term margin pressure<\/span><b><span data-contrast=\"auto\">. 3Q27 recommended trading range: $205 to $260. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<br><br><\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;335559685&quot;:720}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">NVIDIA Corp.\uff08NVDA<\/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=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">962.2\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u66b4\u589e105.9%\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f40.6\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=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">2.22\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.13\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=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u9884\u8ba1\u4e3a1080\u4ebf\u7f8e\u5143\uff08\u00b12%\uff09\uff0c\u9ad8\u4e8e\u5206\u6790\u5e08\u9884\u671f\u76841042\u4ebf\u7f8e\u5143\uff1b\u9884\u8ba1\u6bdb\u5229\u7387\u5c06\u5728\u7b2c\u56db\u5b63\u5ea6\u89e6\u5e95\uff0c\u964d\u81f371%\u201372%\u533a\u95f4\uff08\u90e8\u5206\u53d7HBM\u5185\u5b58\u4ef7\u683c\u53ca\u65b0\u4e00\u4ee3\u4ea7\u54c1\u7ec4\u5408\u5f71\u54cd\uff09\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=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">28\u8d22\u5e74\u5c55\u671b\uff1a<\/span><\/b><span data-contrast=\"auto\">\u9884\u8ba128\u8d22\u5e74\u8425\u6536\u5c06\u589e\u957f70%\uff0c\u6bdb\u5229\u7387\u9884\u671f\u91cd\u7f6e\u5e76\u7a33\u5b9a\u572872%\u201373%<\/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=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5728\u80a1\u7968\u56de\u8d2d\u548c\u80a1\u606f\u4e0a\u652f\u51fa260\u4ebf\u7f8e\u5143\uff1b5\u6708\u4efd\u516c\u53f8\u65b0\u589e800\u4ebf\u7f8e\u5143\u7684\u56de\u8d2d\u6388\u6743\uff1b\u8ba1\u5212\u6d3e\u53d1\u6bcf\u80a10.25\u7f8e\u5143\u7684\u80a1\u606f\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=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u6781\u4e3a\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\u3002\u8425\u6536\u5927\u5e45\u8d85\u51fa\u5171\u8bc6\u7ea640\u4ebf\u7f8e\u5143\uff0c\u6570\u636e\u4e2d\u5fc3\u4e1a\u52a1\u6536\u5165\u540c\u6bd4\u7ffb\u500d\u4ee5\u4e0a\uff0c\u4e14\u9ad8\u8fbe1080\u4ebf\u7f8e\u5143\u7684Q3\u6307\u5f15\u610f\u5473\u7740\u82f1\u4f1f\u8fbe\u7684\u5355\u5b63\u8425\u6536\u89c4\u6a21\u5728\u4e00\u5e74\u5185\u518d\u6b21\u5b9e\u73b0\u4e86\u7ffb\u500d\u3002\u66f4\u4e3a\u91cd\u8981\u7684\u662f\uff0c\u9700\u6c42\u4f9d\u7136\u53d7\u5236\u4e8e\u4f9b\u7ed9\u74f6\u9888\uff0c\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\uff08<\/span><span data-contrast=\"auto\">hyperscalers<\/span><span data-contrast=\"auto\">\uff09\u7684AI\u8d44\u672c\u5f00\u652f\u6301\u7eed\u6500\u5347\uff0c\u4e14\u4e0b\u4e00\u4ee3Rubin\u67b6\u6784\u5df2\u8fdb\u5165\u751f\u4ea7\u9636\u6bb5\u3002\u8fd9\u8868\u660e\u82f1\u4f1f\u8fbe\u6709\u671b\u4eceBlackwell\u5e73\u7a33\u8fc7\u6e21\u5230Rubin\uff0c\u5b8c\u5168\u907f\u514d\u4e86\u5e02\u573a\u6b64\u524d\u62c5\u5fe7\u7684\u201c\u9700\u6c42\u7a7a\u7a97\u671f\u201d\uff08demand air pocket\uff09\u3002\u7136\u800c\uff0c\u5f53\u524d\u7684\u6838\u5fc3\u535a\u5f08\u70b9\u5df2\u4ece\u201c\u9700\u6c42\u201d\u8f6c\u5411\u201c\u5229\u6da6\u7387\u201d\u3002Q3\u6bdb\u5229\u7387\u6307\u5f15\u964d\u81f374%\uff0c\u4e14\u4e0d\u65ad\u6500\u5347\u7684HBM\u53ca\u5176\u4ed6\u5185\u5b58\u6210\u672c\u6b63\u65e5\u76ca\u538b\u5236\u7cfb\u7edf\u7ea7\u4ea7\u54c1\u7684\u7ecf\u6d4e\u6548\u76ca\u3002\u6b64\u5916\uff0c\u82f1\u4f1f\u8fbe\u5728AI\u57fa\u7840\u8bbe\u65bd\u878d\u8d44\u65b9\u9762\u7684\u53c2\u4e0e\u5ea6\u867d\u503c\u5f97\u6301\u7eed\u5173\u6ce8\uff0c\u4f46\u76ee\u524d\u5df2\u62ab\u9732\u7684\u76f4\u63a5\u98ce\u9669\u655e\u53e3\u76f8\u5bf9\u4e8e\u5176\u5e9e\u5927\u7684\u76c8\u5229\u548c\u8d44\u4ea7\u8d1f\u503a\u8868\u800c\u8a00\u4f9d\u7136\u8f83\u5c0f\u3002\u4e2d\u56fd\u5e02\u573a\u5219\u63d0\u4f9b\u4e86\u201c\u4e0d\u5bf9\u79f0\u7684\u671f\u6743\u4ef7\u503c\u201d\uff1a1080\u4ebf\u7f8e\u5143\u7684Q3\u6307\u5f15\u5b8c\u5168\u672a\u8ba1\u5165\u4e2d\u56fd\u6570\u636e\u4e2d\u5fc3\u7684\u7b97\u529b\u6536\u5165\uff0c\u8fd9\u610f\u5473\u7740\u82e5\u672a\u6765H200\u7b49\u9ad8\u7aef\u82af\u7247\u7684\u51fa\u53e3\u76d1\u7ba1\u83b7\u5f97\u5b9e\u8d28\u6027\u6279\u51c6\uff0c\u5c06\u5e26\u6765\u7eaf\u7cb9\u7684\u589e\u91cf\u5229\u597d\u3002\u5e02\u573a\u53cd\u5e94\u65b9\u9762\uff0c\u80a1\u4ef7\u5728\u8d22\u62a5\u53d1\u5e03\u521d\u77ed\u6682\u4e0b\u8dcc\uff0c\u4f46\u968f\u540e\u9006\u8f6c\u4e0a\u6da8\u7ea64%\uff0c\u8868\u660e\u6295\u8d44\u8005\u5728\u6d88\u5316\u4e86\u5f3a\u52b2\u7684Q3\u6307\u5f15\u4e0e\u7ba1\u7406\u5c42 Commentary \u540e\uff0c\u4f9d\u7136\u5bf9\u5176\u957f\u671f\u903b\u8f91\u4e70\u5355\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09Rubin\u67b6\u6784\u7684\u751f\u4ea7\u4e0e\u4ea4\u4ed8\u8282\u594f\uff1b\uff082\uff09Blackwell\/Rubin\u7684\u4f9b\u5e94\u94fe\u74f6\u9888\u4e0e\u4ea7\u80fd\u7ea6\u675f\uff1b\uff083\uff09\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u7684AI\u8d44\u672c\u5f00\u652f\u6301\u7eed\u6027\uff1b\uff084\uff09\u5185\u5b58\u6210\u672c\u4e0a\u5347\u5bf9\u6bdb\u5229\u7387\u7684\u6324\u538b\u7a0b\u5ea6\uff1b\uff085\uff09\u4e2d\u56fdH200\u7b49\u82af\u7247\u7684\u51fa\u53e3\u5ba1\u6279\u8fdb\u5c55\uff1b\uff086\uff09\u6570\u636e\u4e2d\u5fc3\u4e1a\u52a1\u7ef4\u6301100%\u4ee5\u4e0a\u9ad8\u589e\u957f\u7684\u53ef\u6301\u7eed\u6027\u3002\u82f1\u4f1f\u8fbe\u5728AI\u7b97\u529b\u65f6\u4ee3\u7684\u62a4\u57ce\u6cb3\u4f9d\u7136\u6df1\u4e0d\u53ef\u6d4b\u3002\u5f3a\u52b2\u7684\u4e1a\u7ee9\u8d85\u9884\u671f\u3001\u8fdc\u8d85\u5171\u8bc6\u7684\u524d\u77bb\u6307\u5f15\u3001\u52a0\u901f\u7206\u53d1\u7684AI\u7b97\u529b\u9700\u6c42\u4ee5\u53ca\u4e2d\u56fd\u5e02\u573a\u6f5c\u5728\u7684\u671f\u6743\u4ef7\u503c\uff0c\u8db3\u4ee5\u8986\u76d6\u77ed\u671f\u7684\u5229\u6da6\u7387\u627f\u538b\u98ce\u9669\u3002<\/span><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a205\u7f8e\u5143\u81f3260\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;335559685&quot;:720}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Salesforce, Inc. (CRM)<\/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=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$11.35B<\/span><span data-contrast=\"auto\">, +10.8% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$30M<\/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=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$5.90, beat estimates by $2.63<\/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=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised FY27 revenue guidance to US$46.1\u201346.4B from US$45.9\u201346.2B previously, implying 11\u201312% YoY growth. Adjusted EPS guidance was raised sharply to US$16.67\u201316.71 from US$14.06\u201314.12, partly reflecting investment gains and the lower share count.&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=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Management expects revenue of US$11.42\u201311.50B, +11\u201312% YoY, adjusted EPS of US$3.42\u20133.44 and cRPO growth of approximately 14%.<\/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=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Capital returns remain substantial following Salesforce&#8217;s US$25B accelerated share-repurchase programme, which materially reduces the share count and supports EPS growth.<\/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=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a strong quarter and, more importantly, provided evidence against the market&#8217;s &#8220;AI disruption of SaaS&#8221; thesis. Agentforce and Data 360 ARR surged &gt;210% YoY to nearly US$3.9B, with Agentforce ARR exceeding US$1.5B, +&gt;240%. Agentic Work Units reached 3.2B during Q2, +97% QoQ, while Slack recorded its fastest net-new annual order growth since the acquisition. Salesforce also expanded its Anthropic relationship through Claudeforce, embedding Claude into Salesforce workflows. The key issue is earnings quality and organic growth. The US$5.90 adjusted EPS headline substantially overstates underlying operating performance because of the Anthropic investment gain, while roughly four percentage points of Q3 revenue growth are expected to come from Informatica. Nevertheless, 14% cRPO growth, accelerating AI ARR and improving bookings provide credible evidence that Salesforce&#8217;s core franchise is stabilizing rather than being displaced by AI. The stock had also fallen more than 20% YTD before earnings, leaving expectations relatively depressed. Shares surged approximately 13\u201314% in after-hours trading following the earnings release. The principal variables to monitor are organic cRPO growth, Agentforce ARR and consumption, Data 360 adoption, Informatica integration, core Sales\/Service Cloud growth and whether AI monetisation can drive sustained organic revenue reacceleration. The EPS beat is lower quality than the headline suggests, but accelerating bookings, raised revenue guidance and rapidly scaling Agentforce materially improve the fundamental setup. <\/span><b><span data-contrast=\"auto\">3Q27 recommended trading range: $200 to $260. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p><p><span data-ccp-props=\"{}\"><br><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Salesforce, Inc.\uff08CRM<\/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=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">113.5\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f10.8%\uff0c\u8d85\u51fa\u9884\u671f3000\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=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">5.90\u7f8e\u5143\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f2.63\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=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u53ca\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5168\u5e74\u8425\u6536\u6307\u5f15\u81f3461\u4ebf\u2013464\u4ebf\u7f8e\u5143\uff08\u6b64\u524d\u4e3a459\u4ebf\u2013462\u4ebf\u7f8e\u5143\uff09\uff0c\u9690\u542b\u540c\u6bd4\u589e\u957f11%\u201312%\uff1b\u5927\u5e45\u4e0a\u8c03\u5168\u5e74\u8c03\u6574\u540eEPS\u6307\u5f15\u81f316.67\u201316.71\u7f8e\u5143\uff08\u6b64\u524d\u4e3a14.06\u201314.12\u7f8e\u5143\uff09\uff0c\u90e8\u5206\u53cd\u6620\u4e86\u5bf9\u521d\u521b\u516c\u53f8\u7684\u6295\u8d44\u6536\u76ca\u53ca\u80a1\u672c\u51cf\u5c11\uff1bQ3\u8425\u6536\u9884\u8ba1\u4e3a114.2\u4ebf\u2013115.0\u4ebf\u7f8e\u5143\uff08\u540c\u6bd4+11%\u201312%\uff09\uff0c\u8c03\u6574\u540eEPS\u4e3a3.42\u20133.44\u7f8e\u5143\uff0c<\/span><span data-contrast=\"auto\">cRPO<\/span><span data-contrast=\"auto\">\uff08\u5f53\u524d\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff09\u9884\u8ba1\u589e\u957f\u7ea614%\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=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5728\u6267\u884c\u4e86250\u4ebf\u7f8e\u5143\u7684\u52a0\u901f\u80a1\u7968\u56de\u8d2d\u8ba1\u5212\uff08ASR\uff09\u540e\uff0c\u8d44\u672c\u56de\u62a5\u4f9d\u7136\u53ef\u89c2\uff0c\u663e\u8457\u51cf\u5c11\u4e86\u6d41\u901a\u80a1\u672c\u5e76\u4e3aEPS\u589e\u957f\u63d0\u4f9b\u4e86\u5f3a\u529b\u652f\u6491\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=\"25\" 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\u66f4\u91cd\u8981\u7684\u662f\uff0c\u5b83\u63d0\u4f9b\u4e86\u6709\u529b\u7684\u8bc1\u636e\uff0c\u53cd\u9a73\u4e86\u5e02\u573a\u4e0a\u5173\u4e8e\u201cAI\u5c06\u98a0\u8986\u5e76\u53d6\u4ee3\u4f20\u7edfSaaS\u201d\u7684\u60b2\u89c2\u8bba\u8c03\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8eAI\u4ea7\u54c1\u7684\u7206\u53d1\u5f0f\u589e\u957f\uff1a<\/span><span data-contrast=\"auto\">Agentforce<\/span><span data-contrast=\"auto\">\u548cData 360\u7684ARR\uff08\u5e74\u5ea6\u7ecf\u5e38\u6027\u6536\u5165\uff09\uff0c\u5176\u4e2d<\/span><span data-contrast=\"auto\">Agentforce ARR\u5355\u72ec\u7a81\u783415\u4ebf\u7f8e\u5143\uff08\u540c\u6bd4+240%\u4ee5\u4e0a\uff09\u3002Agentic Work Units\uff08\u667a\u80fd\u4f53\u5de5\u4f5c\u5355\u5143\uff09\uff0c\u73af\u6bd4\u5927\u589e97%\u3002\u540c\u65f6\uff0cSlack\u5f55\u5f97\u4e86\u81ea\u88ab\u6536\u8d2d\u4ee5\u6765\u6700\u5feb\u7684\u51c0\u65b0\u589e\u5e74\u5ea6\u8ba2\u5355\u589e\u957f\u3002\u6b64\u5916\uff0c\u516c\u53f8\u901a\u8fc7\u63a8\u51fa\u201cClaudeforce<\/span><span data-contrast=\"auto\">\u201d\u6df1\u5316\u4e86\u4e0eAnthropic\u7684\u5408\u4f5c\uff0c\u5c06Claude\u5927\u6a21\u578b\u6df1\u5ea6\u5d4c\u5165Salesforce\u7684\u6838\u5fc3\u5de5\u4f5c\u6d41\u4e2d\u3002\u6838\u5fc3\u9690\u5fe7\u5728\u4e8e\u201c\u76c8\u5229\u8d28\u91cf\u201d\u4e0e\u201c\u6709\u673a\u589e\u957f\u201d\uff1a5.90\u7f8e\u5143\u7684\u8c03\u6574\u540eEPS\u5927\u5e45\u5938\u5927\u4e86\u5e95\u5c42\u7684\u5b9e\u9645\u8fd0\u8425\u8868\u73b0\uff0c\u4e3b\u8981\u56e0\u4e3a\u5305\u542b\u4e86\u5bf9Anthropic\u80a1\u6743\u6295\u8d44\u7684\u516c\u5141\u4ef7\u503c\u6536\u76ca\uff08\u975e\u7ecf\u8425\u6027\u5229\u6da6\uff09\u3002\u540c\u65f6\uff0cQ3\u7ea64\u4e2a\u767e\u5206\u70b9\u7684\u8425\u6536\u589e\u957f\u9884\u8ba1\u5c06\u6765\u81ea\u5bf9Informatica\u7684\u5e76\u8d2d\u8d21\u732e\uff0c\u800c\u975e\u7eaf\u7cb9\u7684\u6709\u673a\u589e\u957f\u3002\u57fa\u672c\u9762\u4f01\u7a33\u7684\u4fe1\u53f7\uff1a\u5c3d\u7ba1\u5982\u6b64\uff0c14%\u7684<\/span><span data-contrast=\"auto\">cRPO<\/span><span data-contrast=\"auto\">\u589e\u957f\u3001\u52a0\u901f\u7206\u53d1\u7684AI ARR\u4ee5\u53ca\u6539\u5584\u7684\u8ba2\u5355\u91cf\uff0c\u63d0\u4f9b\u4e86\u4ee4\u4eba\u4fe1\u670d\u7684\u8bc1\u636e\uff0c\u8868\u660eSalesforce\u7684\u6838\u5fc3\u4e1a\u52a1\u62a4\u57ce\u6cb3\u6b63\u5728\u4f01\u7a33\u5e76\u501f\u529bAI\u8fdb\u5316\uff0c\u800c\u975e\u88abAI\u98a0\u8986\u3002\u7531\u4e8e\u8d22\u62a5\u524d\u80a1\u4ef7\u5e74\u5185\u5df2\u8dcc\u8d8520%\uff0c\u5e02\u573a\u9884\u671f\u5904\u4e8e\u4f4e\u4f4d\uff0c\u8d22\u62a5\u540e\u76d8\u540e\u80a1\u4ef7\u98d9\u6da8\u7ea613%\u201314%\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u5254\u9664\u5e76\u8d2d\u56e0\u7d20\u540e\u7684\u6709\u673a<\/span><span data-contrast=\"auto\">cRPO<\/span><span data-contrast=\"auto\">\u589e\u957f\u659c\u7387\uff1b\uff082\uff09<\/span><span data-contrast=\"auto\">Agentforce<\/span><span data-contrast=\"auto\">\u7684ARR\u589e\u957f\u4e0e\u5ba2\u6237\u5b9e\u9645\u6d88\u8017\u91cf\uff08consumption\uff09\uff1b\uff083\uff09Data 360\u7b49\u6570\u636e\u5e95\u5ea7\u4ea7\u54c1\u7684\u5ba2\u6237\u91c7\u7528\u7387\uff1b\uff084\uff09Informatica\u6536\u8d2d\u540e\u7684\u4e1a\u52a1\u6574\u5408\u4e0e\u4ea4\u53c9\u9500\u552e\u8fdb\u5ea6\uff1b\uff085\uff09\u6838\u5fc3Sales\/Service Cloud\u7684\u5b58\u91cf\u5ba2\u6237\u7559\u5b58\u4e0e\u589e\u957f\uff1b\uff086\uff09AI\u53d8\u73b0\u80fd\u5426\u9a71\u52a8\u6574\u4f53\u6709\u673a\u8425\u6536\u7684\u6301\u7eed\u91cd\u65b0\u52a0\u901f\u3002\u5c3d\u7ba1EPS\u8d85\u9884\u671f\u7684\u201c\u8d28\u91cf\u201d\u4e0d\u5982\u8868\u89c2\u6570\u5b57\u90a3\u822c\u8000\u773c\uff0c\u4f46\u52a0\u901f\u7684\u8ba2\u5355\u91cf\u3001\u4e0a\u8c03\u7684\u8425\u6536\u6307\u5f15\u4ee5\u53ca\u5feb\u901f\u8d77\u91cf\u7684<\/span><span data-contrast=\"auto\">Agentforce<\/span><span data-contrast=\"auto\">\uff0c\u5b9e\u8d28\u6027\u5730\u6539\u5584\u4e86Salesforce\u7684\u57fa\u672c\u9762\u683c\u5c40\uff0c\u8bc1\u660e\u4e86\u5176\u5728AI\u65f6\u4ee3SaaS\u9886\u57df\u7684\u7edf\u6cbb\u529b\u4f9d\u7136\u7a33\u56fa\u3002<\/span><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a200\u7f8e\u5143\u81f3260\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=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">CrowdStrike Holdings, Inc. (CRWD)<\/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=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$1.47B<\/span><span data-contrast=\"auto\">, +25.6% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$30M<\/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=\"34\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$0.31, beat 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=\"\" 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\">FY27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised FY27 revenue guidance to US$5.99\u20136.01B, versus US$5.91\u20135.96B previously, and adjusted EPS guidance to US$1.25\u20131.26 versus consensus of approximately US$1.23. More importantly, management raised FY27 net new ARR growth guidance by 630bps to approximately 34% YoY at the midpoint.<\/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=\"36\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q27 Guidance: <\/span><\/b><span data-contrast=\"auto\">Revenue is expected at US$1.523\u20131.529B, above consensus of approximately US$1.51B, with adjusted EPS of approximately US$0.31.<\/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=\"37\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was an exceptionally strong beat-and-raise quarter, with net new ARR the key number rather than the modest EPS beat. Net new ARR accelerated 51% to a record US$333M and management materially raised FY27 ARR guidance, suggesting cybersecurity demand is accelerating rather than merely remaining resilient. Falcon Flex is becoming an increasingly important platform-consolidation engine, with ending ARR from Flex customers surpassing US$2.29B, +101% YoY. AI is also becoming an incremental security catalyst as enterprises increasingly need to secure autonomous agents, models and AI workloads. The key issue is valuation rather than execution. CRWD had already rallied more than 60% in 2026 ahead of earnings, leaving expectations elevated. Nevertheless, 26% revenue growth, 25% ARR growth, accelerating net new ARR and a 26% FCF margin provide unusually strong Rule-of-40 characteristics. The combination of Falcon Flex, AI security demand and platform consolidation also strengthens the case that CrowdStrike can sustain &gt;20% growth longer than currently modeled, although further upside increasingly requires continued ARR beats rather than simply meeting revenue guidance. Shares surged approximately 10\u201311% following the earnings release. The principal variables to monitor are net new ARR, Falcon Flex adoption, AI Detection and Response monetisation, subscription gross margin, FCF margin and whether FY27 ARR guidance is raised again. <\/span><b><span data-contrast=\"auto\">3Q27 recommended trading range: $195 to $240. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<br><br><\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">CrowdStrike Holdings, Inc.\uff08CRWD<\/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=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">14.7\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f25.6%\uff0c\u8d85\u51fa\u9884\u671f3000\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=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.31\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=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u53ca\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5168\u5e74\u8425\u6536\u6307\u5f15\u81f359.9\u4ebf\u201360.1\u4ebf\u7f8e\u5143\uff08\u6b64\u524d\u4e3a59.1\u4ebf\u201359.6\u4ebf\u7f8e\u5143\uff09\uff0c\u8c03\u6574\u540eEPS\u6307\u5f15\u4e0a\u8c03\u81f31.25\u20131.26\u7f8e\u5143\uff08\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u7684\u7ea61.23\u7f8e\u5143\uff09\uff1b\u66f4\u4e3a\u91cd\u8981\u7684\u662f\uff0c\u7ba1\u7406\u5c42\u5c06\u5168\u5e74\u51c0\u65b0\u589eARR\uff08\u5e74\u5ea6\u7ecf\u5e38\u6027\u6536\u5165\uff09\uff0c\u4e2d\u503c\u7ea6\u4e3a\u540c\u6bd4\u589e\u957f34%\uff1bQ3\u8425\u6536\u9884\u8ba1\u4e3a15.23\u4ebf\u201315.29\u4ebf\u7f8e\u5143\uff08\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u7684\u7ea615.1\u4ebf\u7f8e\u5143\uff09\uff0c\u8c03\u6574\u540eEPS\u7ea6\u4e3a0.31\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=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u6781\u4e3a\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\u3002\u76f8\u8f83\u4e8e\u6e29\u548c\u8d85\u9884\u671f\u7684EPS\uff0c\u51c0\u65b0\u589eARR\uff08Net new ARR\uff09\uff1a\u8be5\u6307\u6807\u540c\u6bd4\u6fc0\u589e51%\u81f3\u521b\u7eaa\u5f55\u76843.33\u4ebf\u7f8e\u5143\u3002\u7ba1\u7406\u5c42\u5927\u5e45\u4e0a\u8c03\u5168\u5e74ARR\u6307\u5f15\uff0c\u8868\u660e\u4f01\u4e1a\u7ea7\u7f51\u7edc\u5b89\u5168\u9700\u6c42\u6b63\u5728\u52a0\u901f\u7206\u53d1\uff0c\u800c\u975e\u4ec5\u4ec5\u662f\u4fdd\u6301\u97e7\u6027\u3002\u6838\u5fc3\u4eae\u70b9\uff1aFalcon Flex\uff08\u7075\u6d3b\u8ba2\u9605\u6a21\u5757\uff09\u6b63\u65e5\u76ca\u6210\u4e3a\u63a8\u52a8\u5ba2\u6237\u5e73\u53f0\u6574\u5408\u7684\u6838\u5fc3\u5f15\u64ce\uff0cFlex\u5ba2\u6237\u7684\u671f\u672bARR\u7a81\u783422.9\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u5927\u589e101%\u3002\u540c\u65f6\uff0cAI\u6b63\u6210\u4e3a\u589e\u91cf\u7684\u5b89\u5168\u50ac\u5316\u5242\uff0c\u968f\u7740\u4f01\u4e1a\u8d8a\u6765\u8d8a\u591a\u5730\u90e8\u7f72\u81ea\u4e3b\u667a\u80fd\u4f53\u3001\u5927\u6a21\u578b\u548cAI\u5de5\u4f5c\u8d1f\u8f7d\uff0c\u5bf9AI\u73af\u5883\u5b89\u5168\u4fdd\u62a4\u7684\u9700\u6c42\u6b63\u5728\u6fc0\u589e\u3002\u6838\u5fc3\u535a\u5f08\u70b9\u5728\u4e8e\u201c\u4f30\u503c\u201d\u3002\u8d22\u62a5\u53d1\u5e03\u524d\uff0cCRWD\u57282026\u5e74\u5185\u5df2\u7d2f\u8ba1\u5927\u6da8\u8d8560%\uff0c\u5e02\u573a\u9884\u671f\u5df2\u88ab\u63a8\u9ad8\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c26%\u7684\u8425\u6536\u589e\u901f\u300125%\u7684ARR\u589e\u901f\u3001\u52a0\u901f\u7206\u53d1\u7684\u51c0\u65b0\u589eARR\u4ee5\u53ca26%\u7684\u81ea\u7531\u73b0\u91d1\u6d41\uff08FCF\uff09\u5229\u6da6\u7387\uff0c\u5c55\u73b0\u51fa\u4e86\u6781\u4e3a\u4f18\u5f02\u7684\u201c40\u6cd5\u5219\u201d\uff08Rule-of-40\uff09\u7279\u5f81\u3002Falcon Flex\u3001AI\u5b89\u5168\u9700\u6c42\u4e0e\u5e73\u53f0\u6574\u5408\u903b\u8f91\uff0c\u8fdb\u4e00\u6b65\u589e\u5f3a\u4e86CrowdStrike\u80fd\u591f\u6bd4\u5e02\u573a\u5f53\u524d\u6a21\u578b\u9884\u6d4b\u7684\u66f4\u957f\u65f6\u95f4\u7ef4\u630120%\u4ee5\u4e0a\u9ad8\u589e\u957f\u7684\u786e\u4fe1\u5ea6\u3002\u672a\u6765\u80a1\u4ef7\u7684\u8fdb\u4e00\u6b65\u4e0a\u884c\uff0c\u5c06\u8d8a\u6765\u8d8a\u4f9d\u8d56\u4e8eARR\u7684\u6301\u7eed\u8d85\u9884\u671f\uff0c\u800c\u975e\u4ec5\u4ec5\u6ee1\u8db3\u8425\u6536\u6307\u5f15\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u98d9\u6da8\u7ea610%\u201311%\uff0c\u5e02\u573a\u5bf9\u5176\u5f3a\u52b2\u7684\u65b0\u589e\u8ba2\u5355\u4e0e\u5e73\u53f0\u6574\u5408\u80fd\u529b\u7ed9\u4e88\u4e86\u6781\u9ad8\u6ea2\u4ef7\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u51c0\u65b0\u589eARR\u7684\u52a0\u901f\u8d8b\u52bf\u80fd\u5426\u5ef6\u7eed\uff1b\uff082\uff09Falcon Flex\u7075\u6d3b\u8ba2\u9605\u6a21\u5f0f\u7684\u5ba2\u6237\u91c7\u7528\u7387\u4e0e\u6a21\u5757\u6e17\u900f\u7387\uff1b\uff083\uff09AI\u68c0\u6d4b\u4e0e\u54cd\u5e94\uff08AI Detection and Response\uff09\uff1b\uff084\uff09\u8ba2\u9605\u4e1a\u52a1\u6bdb\u5229\u7387\u7684\u7a33\u5b9a\u6027\uff1b\uff085\uff09\u81ea\u7531\u73b0\u91d1\u6d41\uff08FCF\uff09\uff1b\uff086\uff09\u5168\u5e74ARR\u6307\u5f15\u80fd\u5426\u88ab\u518d\u6b21\u4e0a\u8c03\u3002CrowdStrike \u51ed\u501f\u65e0\u53ef\u5339\u654c\u7684\u5355\u4e00\u4ee3\u7406\uff08single-agent\uff09\u67b6\u6784\u4e0eFalcon\u5e73\u53f0\uff0c\u5728\u7ec8\u7aef\u5b89\u5168\u4e0e\u4e91\u5b89\u5168\u9886\u57df\u5360\u636e\u7edd\u5bf9\u7edf\u6cbb\u5730\u4f4d\u3002AI\u65f6\u4ee3\u7684\u5230\u6765\u4e0d\u4ec5\u6ca1\u6709\u524a\u5f31\u5176\u62a4\u57ce\u6cb3\uff0c\u53cd\u800c\u4e3a\u5176\u521b\u9020\u4e86\u5168\u65b0\u7684\u5b89\u5168\u53d8\u73b0\u589e\u91cf\u3002\u5c3d\u7ba1\u4f30\u503c\u5df2\u4e0d\u4fbf\u5b9c\uff0c\u4f46\u5176\u5353\u8d8a\u7684Rule-of-40\u8868\u73b0\u4e0e\u6781\u9ad8\u7684\u4e1a\u7ee9\u786e\u5b9a\u6027\uff0c\u4f7f\u5176\u4f9d\u7136\u662f\u7f51\u7edc\u5b89\u5168\u8d5b\u9053\u7684\u6838\u5fc3\u5e95\u4ed3\u8d44\u4ea7\u3002<\/span><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a195\u7f8e\u5143\u81f3240\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=\"{}\">&nbsp;<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Okta, Inc. (OKTA)<\/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=\"38\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$805M<\/span><span data-contrast=\"auto\">, +10.6% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$11.97M<\/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=\"39\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$1.05, beat estimates by $0.09<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">&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=\"40\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised FY27 revenue guidance to approximately US$2.91\u20132.92B, representing 9% YoY growth, and adjusted EPS guidance to approximately US$4.02\u20134.05.<\/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=\"41\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q27 Guidance: <\/span><\/b><span data-contrast=\"auto\">Revenue is expected at US$730\u2013732M, representing approximately 8% growth, with adjusted EPS of US$0.98\u20131.00. Management continues to prioritize profitable growth rather than materially accelerating spending.<\/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=\"42\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a solid beat-and-raise quarter, but the underlying growth profile remains less compelling than other cybersecurity names. EPS materially exceeded expectations and operating margin reached 30%, demonstrating substantial progress in profitability. Identity remains strategically important as AI agents increase the number of non-human identities enterprises need to authenticate and govern, creating a potentially significant longer-term opportunity for Okta&#8217;s Identity Security Fabric. The key issue is top-line reacceleration. Revenue growth remains only 12%, while 3Q guidance implies a slowdown to approximately 8%. Current RPO growth of 12% also suggests that a sharp near-term acceleration is unlikely. Okta is therefore increasingly an earnings and margin-expansion story rather than a high-growth cybersecurity story, contrasting with CrowdStrike&#8217;s accelerating net new ARR. The upside case requires AI-related identity demand, cross-selling and larger enterprise contracts to eventually translate into stronger bookings growth. Shares rose approximately 20% following the earnings headline beat. The principal variables to monitor are cRPO growth, net retention, large-customer additions, Identity Security Fabric adoption, AI-agent identity demand and operating-margin progression. <\/span><b><span data-contrast=\"auto\">3Q27 recommended trading range: $130 to $190. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<br><br><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Okta, Inc.\uff08OKTA<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><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=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">8.05\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f10.6%\uff0c\u8d85\u51fa\u9884\u671f1197\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=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">1.05\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.09\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=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u53ca\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5168\u5e74\u8425\u6536\u6307\u5f15\u81f3\u7ea629.1\u4ebf\u201329.2\u4ebf\u7f8e\u5143\uff08\u9690\u542b\u540c\u6bd4\u589e\u957f9%\uff09\uff0c\u8c03\u6574\u540eEPS\u6307\u5f15\u4e0a\u8c03\u81f3\u7ea64.02\u20134.05\u7f8e\u5143\uff1bQ3\u8425\u6536\u9884\u8ba1\u4e3a7.30\u4ebf\u20137.32\u4ebf\u7f8e\u5143\uff08\u9690\u542b\u540c\u6bd4\u589e\u957f\u7ea68%\uff09\uff0c\u8c03\u6574\u540eEPS\u4e3a0.98\u2013<\/span><span data-contrast=\"auto\">1.00\u7f8e\u5143\u3002\u7ba1\u7406\u5c42\u7ee7\u7eed\u4f18\u5148\u8003\u8651\u201c<\/span><span data-contrast=\"auto\">\u76c8\u5229\u6027\u589e\u957f\u201d\uff0c\u800c\u975e\u6fc0\u8fdb\u5730\u52a0\u901f\u652f\u51fa\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=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u7a33\u5065\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\uff0c\u4f46\u5e95\u5c42\u7684\u589e\u957f\u5438\u5f15\u529b\u76f8\u8f83\u4e8e\u5176\u4ed6\u7f51\u7edc\u5b89\u5168\u9f99\u5934\u7565\u663e\u900a\u8272\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8e\u76c8\u5229\u80fd\u529b\u7684\u5b9e\u8d28\u6027\u8de8\u8d8a\uff1aEPS\u5927\u5e45\u8d85\u9884\u671f\uff0c\u8425\u4e1a\u5229\u6da6\u7387\u6210\u529f\u8fbe\u523030%\uff0c\u8bc1\u660e\u4e86\u516c\u53f8\u5728\u6210\u672c\u7eaa\u5f8b\u4e0e\u76c8\u5229\u5151\u73b0\u4e0a\u7684\u5de8\u5927\u8fdb\u6b65\u3002\u5728\u6218\u7565\u5c42\u9762\uff0c\u968f\u7740\u4f01\u4e1a\u90e8\u7f72\u8d8a\u6765\u8d8a\u591a\u7684AI\u667a\u80fd\u4f53\uff08AI agents\uff09\uff0c\u9700\u8981\u8ba4\u8bc1\u548c\u7ba1\u7406\u7684**\u201c\u975e\u4eba\u7c7b\u8eab\u4efd\u201d\uff08non-human identities\uff09\u6fc0\u589e\uff0c\u8fd9\u4e3aOkta\u7684\u8eab\u4efd\u5b89\u5168\u77e9\u9635**\uff08Identity Security Fabric\uff09\u521b\u9020\u4e86\u6781\u5177\u6f5c\u529b\u7684\u957f\u671f\u589e\u91cf\u673a\u4f1a\u3002\u6838\u5fc3\u9690\u5fe7\u5728\u4e8e\u201c\u9876\u5c42\u8425\u6536\u7684\u91cd\u65b0\u52a0\u901f\u201d\u8fdf\u8fdf\u672a\u80fd\u5151\u73b0\uff1a\u672c\u5b63\u5ea6\u8425\u6536\u589e\u901f\u7ea6\u4e3a11%\uff0c\u800cQ3\u6307\u5f15\u6697\u793a\u589e\u901f\u5c06\u8fdb\u4e00\u6b65\u653e\u7f13\u81f3\u7ea68%\u3002\u5f53\u524d<\/span><span data-contrast=\"auto\">cRPO<\/span><span data-contrast=\"auto\">\uff08\u5f53\u524d\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff09\uff0c\u8868\u660e\u77ed\u671f\u5185\u51fa\u73b0\u9700\u6c42 sharply \u52a0\u901f\u7684\u53ef\u80fd\u6027\u8f83\u4f4e\u3002\u903b\u8f91\u91cd\u5851\uff1a\u4e0eCrowdStrike\u7b49\u5448\u73b0\u201c\u9ad8\u589e\u957f+\u9ad8\u9884\u671f\u201d\u7684\u540c\u884c\u4e0d\u540c\uff0cOkta\u5df2\u5f7b\u5e95\u8f6c\u578b\u4e3a\u4e00\u4e2a**\u201c\u76c8\u5229\u5151\u73b0\u4e0e\u5229\u6da6\u7387\u6269\u5f20\u201d**\u7684\u6545\u4e8b\uff0c\u800c\u975e\u9ad8\u589e\u957f\u7f51\u7edc\u5b89\u5168\u6545\u4e8b\u3002\u672a\u6765\u7684\u4e0a\u884c\u7a7a\u95f4\uff0c\u9ad8\u5ea6\u4f9d\u8d56\u4e8eAI\u8eab\u4efd\u5b89\u5168\u9700\u6c42\u3001\u4ea4\u53c9\u9500\u552e\u4ee5\u53ca\u5927\u578b\u4f01\u4e1a\u5408\u540c\u7684\u7b7e\u8ba2\uff0c\u80fd\u5426\u6700\u7ec8\u8f6c\u5316\u4e3a\u66f4\u5f3a\u52b2\u7684\u8ba2\u5355\u589e\u957f\u3002\u5c3d\u7ba1\u589e\u957f\u653e\u7f13\uff0c\u4f46\u5f3a\u52b2\u7684\u76c8\u5229\u8d85\u9884\u671f\u548c\u5229\u6da6\u7387\u8fbe\u6807\u4f9d\u7136\u6253\u52a8\u4e86\u5e02\u573a\uff0c\u8d22\u62a5\u540e\u80a1\u4ef7\u5927\u6da8\u7ea620%\uff0c\u53cd\u6620\u4e86\u8d44\u91d1\u5bf9\u5176\u201c\u76c8\u5229\u62d0\u70b9\u201d\u7684\u91cd\u65b0\u5b9a\u4ef7\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09<\/span><span data-contrast=\"auto\">cRPO<\/span><span data-contrast=\"auto\">\u589e\u901f\u80fd\u5426\u4f01\u7a33\u56de\u5347\uff1b\uff082\uff09\u51c0\u6536\u5165\u7559\u5b58\u7387\uff08Net retention\uff09\uff1b\uff083\uff09\u5927\u578b\u4f01\u4e1a\u5ba2\u6237\u7684\u83b7\u53d6\u4e0e\u62d3\u5c55\uff1b\uff084\uff09Identity Security Fabric\u65b0\u67b6\u6784\u7684\u5ba2\u6237\u91c7\u7528\u7387\uff1b\uff085\uff09AI\u667a\u80fd\u4f53\u8eab\u4efd\u8ba4\u8bc1\u9700\u6c42\u7684\u5b9e\u9645\u843d\u5730\uff1b\uff086\uff09\u8425\u4e1a\u5229\u6da6\u7387\u5411\u66f4\u9ad8\u76ee\u6807\u8fc8\u8fdb\u7684\u6301\u7eed\u6027\u3002Okta \u5728\u6570\u5b57\u8eab\u4efd\u4e0e\u8bbf\u95ee\u7ba1\u7406\u9886\u57df\u4f9d\u7136\u62e5\u6709\u6df1\u539a\u7684\u62a4\u57ce\u6cb3\uff0c\u4e14\u5df2\u6210\u529f\u8de8\u8d8a\u76c8\u5229\u62d0\u70b9\uff0c\u81ea\u7531\u73b0\u91d1\u6d41\u4e0e\u5229\u6da6\u7387\u8868\u73b0\u4f18\u5f02\u3002\u4f46\u5728\u8425\u6536\u589e\u901f\u91cd\u8fd4\u53cc\u4f4d\u6570\u9ad8\u589e\u957f\u4e4b\u524d\uff0c\u5176\u4f30\u503c\u6269\u5f20\u5c06\u4e3b\u8981\u4f9d\u8d56\u4e8e\u5229\u6da6\u7387\u7684\u6301\u7eed\u91ca\u653e\u4e0eAI\u8eab\u4efd\u6982\u5ff5\u7684\u50ac\u5316\u3002<\/span><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a130\u7f8e\u5143\u81f3190\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;<br><br><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Synopsys, Inc. (SNPS)<\/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\">3Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$2.48B<\/span><span data-contrast=\"auto\">, +42.5% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$40M<\/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\">3Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$3.91, beat estimates by $0.24<\/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=\"45\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY26<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Reaffirmed FY26 revenue guidance of approximately US$9.61\u20139.66B and adjusted EPS of US$15.64\u201315.70.<\/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=\"46\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26 Guidance: <\/span><\/b><span data-contrast=\"auto\">Management expects revenue of approximately US$2.60\u20132.65B and adjusted EPS of US$4.48\u20134.54. Management continues to expect the Ansys acquisition to be accretive to non-GAAP EPS within the second full year following closing, with approximately US$400M of annual run-rate cost synergies targeted by year three.<\/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=\"47\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a solid quarter, but not a clean beat-and-raise. The structural thesis remains attractive: AI and increasingly complex chip architectures are raising semiconductor design complexity, increasing demand for EDA, verification and multiphysics simulation. The Ansys acquisition materially broadens Synopsys from chip-design software into silicon-to-systems engineering, potentially increasing wallet share and creating meaningful cross-selling opportunities across semiconductor, automotive, aerospace and industrial customers. The key issue remains Design IP and Ansys integration. IP revenue continues to face weakness from customer-specific programme delays and export restrictions, while the enlarged company now carries materially greater integration and execution risk. Reaffirming rather than raising FY26 guidance despite the Q3 EPS beat also suggests limited near-term upside to consensus. The longer-term opportunity remains compelling, but investors need evidence that IP growth is stabilizing and that Ansys synergies can translate into sustained margin expansion. Shares fell approximately 6% following the earnings release. The principal variables to monitor are Design Automation growth, Design IP recovery, China export restrictions, Ansys revenue growth, cost-synergy realization, operating-margin progression and semiconductor R&amp;D spending. <\/span><b><span data-contrast=\"auto\">4Q26 recommended trading range: $380 to $460. 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\">Synopsys, Inc.\uff08SNPS<\/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=\"34\" 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\">24.8\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f42.5%\uff0c\u8d85\u51fa\u9884\u671f4000\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=\"35\" 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\">3.91\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.24\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=\"36\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u91cd\u7533\u5168\u5e74\u8425\u6536\u6307\u5f15\u7ea696.1\u4ebf\u201396.6\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540eEPS\u4e3a15.64\u201315.70\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=\"37\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u6307\u5f15\u53ca\u5e76\u8d2d\u8fdb\u5c55\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u9884\u8ba1\u7ea626.0\u4ebf\u201326.5\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540eEPS\u4e3a4.48\u20134.54\u7f8e\u5143\uff1b\u7ba1\u7406\u5c42\u9884\u8ba1\u5bf9Ansys\u7684\u5e76\u8d2d\u5c06\u5728\u4ea4\u6613\u5b8c\u6210\u540e\u7684\u7b2c\u4e8c\u4e2a\u5b8c\u6574\u8d22\u5e74\u5185\u5bf9\u975eGAAP EPS\u4ea7\u751f\u589e\u539a\u6548\u5e94\uff0c\u5e76\u76ee\u6807\u5728\u7b2c\u4e09\u5e74\u5b9e\u73b0\u7ea64\u4ebf\u7f8e\u5143\u7684\u5e74\u5316\u6210\u672c\u534f\u540c\u6548\u5e94\uff08cost synergies\uff09\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=\"38\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8d22\u52a1\u8868\u73b0\u7a33\u5065\uff0c\u4f46\u5e76\u975e\u5b8c\u7f8e\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u7ec4\u5408\u3002\u7ed3\u6784\u6027\u6295\u8d44\u903b\u8f91\u4f9d\u7136\u6781\u5177\u5438\u5f15\u529b\uff1aAI\u4e0e\u65e5\u76ca\u590d\u6742\u7684\u82af\u7247\u67b6\u6784\u4e0d\u65ad\u63a8\u9ad8\u534a\u5bfc\u4f53\u8bbe\u8ba1\u590d\u6742\u5ea6\uff0c\u5e26\u52a8\u4e86\u5bf9EDA\u3001\u9a8c\u8bc1\u53ca\u591a\u7269\u7406\u573a\u4eff\u771f\u7684\u5f3a\u52b2\u9700\u6c42\u3002\u5bf9Ansys\u7684\u4e16\u7eaa\u5e76\u8d2d\u5177\u6709\u6df1\u8fdc\u7684\u6218\u7565\u610f\u4e49\uff0c\u5c06Synopsys\u7684\u4e1a\u52a1\u8fb9\u754c\u4ece\u5355\u4e00\u7684\u201c\u82af\u7247\u8bbe\u8ba1\u8f6f\u4ef6\u201d\u5927\u5e45\u62d3\u5c55\u81f3\u201c\u4ece\u7845\u5230\u7cfb\u7edf\uff08silicon-to-systems\uff09\u201d\u7684\u5168\u9762\u5de5\u7a0b\u4eff\u771f\uff0c\u6709\u671b\u663e\u8457\u63d0\u5347\u5355\u5ba2\u94b1\u5305\u4efd\u989d\uff08wallet share\uff09\uff0c\u5e76\u5728\u534a\u5bfc\u4f53\u3001\u6c7d\u8f66\u3001\u822a\u7a7a\u822a\u5929\u53ca\u5de5\u4e1a\u7b49\u591a\u5143\u5ba2\u6237\u7fa4\u4e2d\u521b\u9020\u5de8\u5927\u7684\u4ea4\u53c9\u9500\u552e\u673a\u4f1a\u3002\u6838\u5fc3\u9690\u5fe7\u5728\u4e8eDesign IP\u4e1a\u52a1\u7684\u75b2\u8f6f\u4e0e\u5927\u578b\u5e76\u8d2d\u7684\u6574\u5408\u98ce\u9669\uff1a\u53d7\u5ba2\u6237\u7279\u5b9a\u9879\u76ee\u5ef6\u671f\u53ca\u5730\u7f18\u51fa\u53e3\u7ba1\u5236\u5f71\u54cd\uff0cDesign IP\u4e1a\u52a1\u8425\u6536\u6301\u7eed\u627f\u538b\u3002\u540c\u65f6\uff0c\u4f53\u91cf\u5927\u5e45\u81a8\u80c0\u540e\u7684\u516c\u53f8\u9762\u4e34\u7740\u66f4\u9ad8\u7684\u6574\u5408\u4e0e\u6267\u884c\u98ce\u9669\u3002\u5c3d\u7ba1Q3\u4e1a\u7ee9\u8d85\u9884\u671f\uff0c\u4f46\u7ba1\u7406\u5c42\u4ec5\u9009\u62e9\u201c\u91cd\u7533\u201d\u800c\u975e\u201c\u4e0a\u8c03\u201d\u5168\u5e74\u6307\u5f15\uff0c\u6697\u793a\u77ed\u671f\u5185\u57fa\u672c\u9762\u7f3a\u4e4f\u8fdb\u4e00\u6b65\u8d85\u9884\u671f\u7684\u50ac\u5316\u5242\u3002\u5e02\u573a\u53cd\u5e94\uff1a\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0b\u8dcc\u7ea66%\uff0c\u53cd\u6620\u4e86\u8d44\u91d1\u5bf9IP\u4e1a\u52a1\u62d6\u7d2f\u53ca\u5e76\u8d2d\u6d88\u5316\u671f\u4e0d\u786e\u5b9a\u6027\u7684\u907f\u9669\u60c5\u7eea\uff0c\u5178\u578b\u7684\u201c\u5229\u597d\u51fa\u5c3d\u201d\u4e0e\u4f30\u503c\u6d88\u5316\u53cd\u5e94\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u6838\u5fc3\u8bbe\u8ba1\u81ea\u52a8\u5316\uff08Design <\/span><span data-contrast=\"auto\">Automation\uff09\uff1b\uff082\uff09Design IP\u4e1a\u52a1\u80fd\u5426\u89e6\u5e95\u590d\u82cf\uff1b\uff083\uff09\u4e2d\u56fd\u7b49\u5e02\u573a\u7684\u51fa\u53e3\u7ba1\u5236\u653f\u7b56\u5f71\u54cd\uff1b\uff084\uff09Ansys\u5e76\u8d2d\u540e\u7684\u8425\u6536\u589e\u957f\u4e0e4\u4ebf\u7f8e\u5143\u6210\u672c\u534f\u540c\u6548\u5e94\u7684\u5b9e\u9645\u5151\u73b0\u8fdb\u5ea6\uff1b\uff085\uff09\u6574\u5408\u671f\u540e\u7684\u8425\u4e1a\u5229\u6da6\u7387\u6f14\u8fdb\u8def\u5f84\uff1b\uff086\uff09\u5168\u7403\u534a\u5bfc\u4f53\u884c\u4e1a\u6574\u4f53\u7814\u53d1\u652f\u51fa\u7684\u5b8f\u89c2\u8d8b\u52bf\u3002Synopsys\u5728EDA\u9886\u57df\u7684\u53cc\u5be1\u5934\u5730\u4f4d\u4e0d\u53ef\u52a8\u6447\uff0c\u5e76\u8d2dAnsys\u66f4\u662f\u4e3a\u5176\u6253\u5f00\u4e86\u7cfb\u7edf\u7ea7\u4eff\u771f\u7684\u5e7f\u9614\u5929\u82b1\u677f\uff0c\u957f\u671f\u62a4\u57ce\u6cb3\u4e0e\u589e\u957f\u7a7a\u95f4\u6781\u4e3a\u575a\u5b9e\u3002\u4f46\u77ed\u671f\u5185\uff0c\u516c\u53f8\u5fc5\u987b\u8de8\u8d8aIP\u4e1a\u52a1\u7684\u5468\u671f\u6027\u9006\u98ce\u4e0e\u8d85\u5927\u578b\u5e76\u8d2d\u7684\u6574\u5408\u9635\u75db\u671f\uff0c\u4ee5\u8bc1\u660e\u5176\u76c8\u5229\u5151\u73b0\u80fd\u529b\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a380\u7f8e\u5143\u81f3460\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;<br><br><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Veeva Systems Inc. (VEEV)<\/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\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$928M<\/span><span data-contrast=\"auto\">, +17.6% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$22.74M<\/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\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$2.35, beat estimates by $0.13<\/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\">FY27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised FY27 revenue guidance to approximately US$3.19B, with adjusted EPS expected at approximately US$8.50.<\/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=\"51\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q27 Guidance: <\/span><\/b><span data-contrast=\"auto\">Management expects revenue of approximately US$790\u2013795M and adjusted EPS of approximately US$2.05\u20132.07.<\/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=\"52\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was another solid beat-and-raise quarter. Veeva continues to execute well through the Vault CRM transition, while Development Cloud remains a durable growth engine as pharmaceutical companies digitize clinical, regulatory, quality and safety workflows. The key strategic positive is increasing adoption of Veeva&#8217;s broader platform rather than individual applications, which raises switching costs and expands wallet share across life-sciences customers. The key issue is valuation and the pace of Commercial Cloud growth. Veeva remains one of the highest-quality vertical SaaS franchises, but expectations already incorporate durable mid-teens growth and substantial margin expansion. Salesforce&#8217;s withdrawal from the traditional Veeva CRM partnership also creates a more competitive environment, while the ongoing Vault CRM migration must be executed without material customer disruption. AI represents incremental upside through applications such as Vault CRM Bot and automation of regulated workflows, but meaningful financial contribution remains early. Shares rose approximately 9% following the earnings release. The principal variables to monitor are Vault CRM migrations, Development Cloud subscription growth, Commercial Cloud bookings, Data Cloud adoption, AI monetisation, customer retention and operating-margin progression. <\/span><b><span data-contrast=\"auto\">3Q27 recommended trading range: $244 to $360. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{}\">&nbsp;<br><br><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Veeva Systems Inc.\uff08VEEV<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><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=\"39\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">9.28\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f17.6%\uff0c\u8d85\u51fa\u9884\u671f2274\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=\"40\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">2.35\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.13\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\">27\u8d22\u5e74\u53ca\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5168\u5e74\u8425\u6536\u6307\u5f15\u81f3\u7ea631.9\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540eEPS\u9884\u8ba1\u7ea6\u4e3a8.50\u7f8e\u5143\uff1bQ3\u8425\u6536\u9884\u8ba1\u7ea6\u4e3a7.90\u4ebf\u20137.95\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540eEPS\u7ea6\u4e3a2.05\u20132.07\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=\"42\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u518d\u6b21\u5448\u73b0\u7a33\u5065\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\uff0c\u5c55\u73b0\u4e86\u6781\u5f3a\u7684\u57fa\u672c\u9762\u97e7\u6027\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8e\u5e73\u53f0\u5316\u6218\u7565\u7684\u6df1\u5316\u4e0e\u7814\u53d1\u4e91\u7684\u5f3a\u52b2\uff1a\u516c\u53f8\u6b63\u987a\u5229\u63a8\u8fdbVault CRM\u7684\u5e95\u5c42\u67b6\u6784\u8fc1\u79fb\uff1b\u540c\u65f6\uff0cDevelopment Cloud\uff08\u7814\u53d1\u4e91\uff09\u4f5c\u4e3a\u6301\u4e45\u7684\u589e\u957f\u5f15\u64ce\uff0c\u6301\u7eed\u52a9\u529b\u5236\u836f\u4f01\u4e1a\u5b9e\u73b0\u4e34\u5e8a\u3001\u76d1\u7ba1\u3001\u8d28\u91cf\u548c\u5b89\u5168\u7b49\u6838\u5fc3\u5de5\u4f5c\u6d41\u7684\u6570\u5b57\u5316\u3002\u6218\u7565\u5c42\u9762\u7684\u6700\u5927\u5229\u597d\u662f\u5ba2\u6237\u5bf9Veeva\u66f4\u5e7f\u6cdb\u5e73\u53f0\uff08\u800c\u975e\u5355\u4e00\u5e94\u7528\uff09\uff0c\u8fd9\u4e0d\u4ec5\u6781\u5927\u5730\u63d0\u9ad8\u4e86\u5ba2\u6237\u7684\u8f6c\u6362\u6210\u672c\uff0c\u8fd8\u6301\u7eed\u6269\u5927\u4e86\u5728\u751f\u547d\u79d1\u5b66\u5ba2\u6237\u4e2d\u7684\u94b1\u5305\u4efd\u989d\uff08wallet share\uff09\u3002\u6838\u5fc3\u9690\u5fe7\u5728\u4e8e\u201c\u4f30\u503c\u6c34\u4f4d\u201d\u4e0e\u201cCommercial Cloud\uff08\u5546\u4e1a\u4e91\uff09\uff1a\u4f5c\u4e3a\u5168\u7403\u6700\u9ad8\u8d28\u91cf\u7684\u5782\u76f4SaaS\u6807\u7684\u4e4b\u4e00\uff0c\u5f53\u524d\u4f30\u503c\u5df2\u5145\u5206\u8ba1\u5165\u4e86\u6301\u7eed\u7684\u4e2d\u53cc\u4f4d\u6570\u589e\u957f\u4e0e\u663e\u8457\u7684\u5229\u6da6\u7387\u6269\u5f20\u9884\u671f\u3002\u6b64\u5916\uff0cSalesforce\u9000\u51fa\u4f20\u7edf\u7684Veeva CRM\u5408\u4f5c\u5173\u7cfb\uff0c\u4f7f\u5f97\u672a\u6765\u7684CRM\u5e02\u573a\u7ade\u4e89\u73af\u5883\u66f4\u52a0\u590d\u6742\uff1b\u4e14\u6b63\u5728\u8fdb\u884c\u7684Vault CRM\u8fc1\u79fb\u5fc5\u987b\u5728\u4e0d\u9020\u6210\u91cd\u5927\u5ba2\u6237\u4e1a\u52a1\u4e2d\u65ad\u7684\u524d\u63d0\u4e0b\u5e73\u7a33\u5b8c\u6210\uff0c\u6267\u884c\u8981\u6c42\u6781\u9ad8\u3002AI\u6f5c\u529b\uff1aAI\u901a\u8fc7Vault CRM Bot\u548c\u53d7\u76d1\u7ba1\u5de5\u4f5c\u6d41\u7684\u81ea\u52a8\u5316\u5e26\u6765\u4e86\u589e\u91cf\u4e0a\u884c\u7a7a\u95f4\uff0c\u4f46\u5b9e\u8d28\u6027\u7684\u8d22\u52a1\u8d21\u732e\u4ecd\u5904\u4e8e\u65e9\u671f\u9636\u6bb5\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea69%\uff0c\u5e02\u573a\u5bf9\u5176\u7a33\u5065\u7684\u5e73\u53f0\u5316\u6269\u5f20\u4e0e\u4f18\u5f02\u7684\u4e1a\u7ee9\u5151\u73b0\u80fd\u529b\u7ed9\u4e88\u4e86\u79ef\u6781\u5b9a\u4ef7\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09Vault CRM\u8fc1\u79fb\u7684\u5e73\u7a33\u5ea6\u4e0e\u5ba2\u6237\u7559\u5b58\u7387\uff1b\uff082\uff09Development Cloud\u8ba2\u9605\u6536\u5165\u7684\u6301\u7eed\u9ad8\u589e\u957f\uff1b\uff083\uff09Commercial Cloud\uff08\u5546\u4e1a\u4e91\uff09\uff1b\uff084\uff09Data Cloud\uff08\u6570\u636e\u4e91\uff09\uff1b\uff085\uff09AI\u529f\u80fd\u7684\u5546\u4e1a\u5316\u53d8\u73b0\u8fdb\u5ea6\uff1b\uff086\uff09\u8425\u4e1a\u5229\u6da6\u7387\u7684\u6f14\u8fdb\u8def\u5f84\u3002Veeva \u5728\u751f\u547d\u79d1\u5b66SaaS\u9886\u57df\u62e5\u6709\u6781\u6df1\u7684\u62a4\u57ce\u6cb3\u3001\u6781\u9ad8\u7684\u5ba2\u6237\u7c98\u6027\u4e0e\u5353\u8d8a\u7684\u73b0\u91d1\u6d41\u7279\u5f81\u3002\u5c3d\u7ba1\u9762\u4e34CRM\u8fc1\u79fb\u7684\u6267\u884c\u6311\u6218\u4e0e\u9ad8\u4f30\u503c\u5e26\u6765\u7684\u9884\u671f\u535a\u5f08\uff0c\u4f46\u5176\u5e73\u53f0\u5316\u6269\u5f20\u6784\u7b51\u7684\u957f\u671f\u786e\u5b9a\u6027\u4f9d\u7136\u4f7f\u5176\u6210\u4e3a\u4f18\u8d28\u7684\u9632\u5fa1\u6027\u6210\u957f\u8d44\u4ea7\u3002<\/span><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a244\u7f8e\u5143\u81f3360\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;<br><br><\/span><\/p>\n<p><b><span data-contrast=\"auto\">Everpure, Inc. (P)<\/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=\"53\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$1.2B<\/span><span data-contrast=\"auto\">, +39.4% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$100M<\/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=\"54\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$0.70, beat estimates by $0.12<\/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=\"55\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY27<\/span><\/b><b><span data-contrast=\"auto\"> Guidance: <\/span><\/b><span data-contrast=\"auto\">Significantly raised FY27 revenue guidance to US$5.03\u20135.07B from US$4.41\u20134.51B previously, implying 37\u201338% YoY growth versus 20\u201323% previously. Non-GAAP operating income guidance increased to US$940\u2013960M from US$820\u2013860M.<\/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=\"56\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q27 Guidance: <\/span><\/b><span data-contrast=\"auto\">Management expects revenue of US$1.325\u20131.335B, +37\u201338% YoY, and non-GAAP operating income of US$265\u2013275M.<\/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=\"57\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Repurchased approximately 0.9M shares for US$69M during the quarter.<\/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=\"58\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was an exceptionally strong beat-and-raise quarter. Revenue growth accelerated for the eighth consecutive quarter, product revenue surged 54%, RPO grew 44%, and operating profit materially outpaced revenue growth. More importantly, Everpure secured a second top-five hyperscaler for DirectFlash, validating the thesis that its flash architecture can penetrate hyperscale AI infrastructure by offering better power density, rack efficiency and operating economics. The combination of traditional enterprise storage, AI workloads and hyperscaler adoption materially expands Everpure&#8217;s addressable market. The key issue is whether current hyperscale growth and margins are sustainable through the memory-cost cycle. Everpure has implemented significant pricing increases to offset elevated NAND\/component costs, while free cash flow was negative US$238M during Q2. Hyperscaler revenue can also be more concentrated and project-driven than the traditional enterprise business, creating greater quarterly volatility. Nevertheless, raising FY27 revenue guidance by roughly US$590M at the midpoint after only Q2 is unusually substantial and indicates management has materially greater visibility than it did three months ago. Shares initially traded between roughly -3% and +4% after hours, following a ~6% rise during the regular session and a substantial rally into earnings. The principal variables to monitor are hyperscaler DirectFlash deployments, product revenue growth, RPO, NAND pricing and gross margin, the second hyperscaler revenue ramp, free cash flow and the September 23 Financial Analyst Meeting, where management plans to provide an updated long-term growth and financial framework. <\/span><b><span data-contrast=\"auto\">3Q27 recommended trading range: $100 to $130. Positive 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\">Everpure, Inc.\uff08P<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">&nbsp;<\/span><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=\"43\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">12\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f39.4%\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f1\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=\"44\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.70\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f0.12\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=\"45\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u5168\u5e74\u53ca\u7b2c\u4e09\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5927\u5e45\u4e0a\u8c03\u5168\u5e74\u8425\u6536\u6307\u5f15\u81f350.3\u4ebf\u201350.7\u4ebf\u7f8e\u5143\uff08\u6b64\u524d\u4e3a44.1\u4ebf\u201345.1\u4ebf\u7f8e\u5143\uff09\uff0c\u9690\u542b\u540c\u6bd4\u589e\u957f37%\u201338%\uff08\u6b64\u524d\u9884\u671f\u4ec5\u4e3a20%\u201323%\uff09\uff1b\u975eGAAP\u8425\u4e1a\u5229\u6da6\u6307\u5f15\u4e0a\u8c03\u81f39.4\u4ebf\u20139.6\u4ebf\u7f8e\u5143\uff08\u6b64\u524d\u4e3a8.2\u4ebf\u20138.6\u4ebf\u7f8e\u5143\uff09\uff1bQ3\u8425\u6536\u9884\u8ba1\u4e3a13.25\u4ebf\u201313.35\u4ebf\u7f8e\u5143\uff08\u540c\u6bd4+37%\u201338%\uff09\uff0c\u975eGAAP\u8425\u4e1a\u5229\u6da6\u9884\u8ba1\u4e3a2.65\u4ebf\u20132.75\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=\"46\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u56de\u8d2d\u7ea690\u4e07\u80a1\uff0c\u8017\u8d44\u7ea66900\u4e07\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=\"47\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u6781\u4e3a\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f+\u5927\u5e45\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\uff0c\u57fa\u672c\u9762\u5168\u9762\u7206\u53d1\u3002\u6838\u5fc3\u4eae\u70b9\uff1a\u8425\u6536\u589e\u901f\u8fde\u7eed\u7b2c\u516b\u4e2a\u5b63\u5ea6\u52a0\u901f\uff0c\u4ea7\u54c1\u6536\u5165\u540c\u6bd4\u66b4\u589e54%\uff0cRPO\uff08\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff09\uff0c\u4e14\u8425\u4e1a\u5229\u6da6\u589e\u901f\u663e\u8457\u9886\u5148\u4e8e\u8425\u6536\u589e\u901f\u3002\u66f4\u5177\u6218\u7565\u610f\u4e49\u7684\u662f\uff0c<\/span><span data-contrast=\"auto\">Everpure<\/span><span data-contrast=\"auto\">\u6210\u529f\u62ff\u4e0b\u4e86\u7b2c\u4e8c\u5bb6\u5168\u7403\u524d\u4e94\u7684\u8d85\u5927\u89c4\u6a21\u4e91\u5382\u5546\uff08<\/span><span data-contrast=\"auto\">hyperscaler<\/span><span data-contrast=\"auto\">\uff09\u3002\u8fd9\u6709\u529b\u9a8c\u8bc1\u4e86\u5176<\/span><span data-contrast=\"auto\">DirectFlash<\/span><span data-contrast=\"auto\">\u95ea\u5b58\u67b6\u6784\u80fd\u591f\u901a\u8fc7\u63d0\u4f9b\u66f4\u4f18\u7684\u529f\u7387\u5bc6\u5ea6\u3001\u673a\u67b6\u6548\u7387\u548c\u8fd0\u8425\u7ecf\u6d4e\u6027\uff0c\u6210\u529f\u6253\u5165\u5bf9\u6210\u672c\u4e0e\u80fd\u8017\u6781\u4e3a\u82db\u523b\u7684\u8d85\u5927\u89c4\u6a21AI\u57fa\u7840\u8bbe\u65bd\u5e02\u573a\u3002\u4f20\u7edf\u4f01\u4e1a\u5b58\u50a8\u3001AI\u5de5\u4f5c\u8d1f\u8f7d\u4e0e\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u7684\u4e09\u91cd\u5171\u632f\uff0c\u5b9e\u8d28\u6027\u5730\u62d3\u5bbd\u4e86\u516c\u53f8\u7684\u603b\u53ef\u8fbe\u5e02\u573a\uff08TAM\uff09\u3002\u6838\u5fc3\u9690\u5fe7\uff1a\u5f53\u524d\u7684\u8d85\u5927\u89c4\u6a21\u589e\u957f\u4e0e\u9ad8\u5229\u6da6\u7387\u80fd\u5426\u7a7f\u8d8a\u5b58\u50a8\u82af\u7247\uff08NAND\uff09\u7684\u6210\u672c\u5468\u671f\u3002\u4e3a\u62b5\u6d88\u9ad8\u6602\u7684NAND\u53ca\u5143\u5668\u4ef6\u6210\u672c\uff0c\u516c\u53f8\u5df2\u5b9e\u65bd\u4e86\u5927\u5e45\u63d0\u4ef7\uff0c\u4f46\u672c\u5b63\u5ea6\u81ea\u7531\u73b0\u91d1\u6d41\u4ecd\u4e3a\u8d1f2.38\u4ebf\u7f8e\u5143\u3002\u6b64\u5916\uff0c\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u7684\u6536\u5165\u5f80\u5f80\u6bd4\u4f20\u7edf\u4f01\u4e1a\u4e1a\u52a1\u66f4\u5177\u96c6\u4e2d\u5ea6\u4e14\u5448\u9879\u76ee\u5236\uff08project-driven\uff09\uff0c\u53ef\u80fd\u5e26\u6765\u66f4\u5927\u7684\u5b63\u5ea6\u4e1a\u7ee9\u6ce2\u52a8\u3002\u6307\u5f15\u7684\u9707\u64bc\u529b\uff1a\u5c3d\u7ba1\u5b58\u5728\u4e0a\u8ff0\u9690\u5fe7\uff0c\u4f46\u5728\u4ec5\u8fc7\u53bb\u4e00\u4e2a\u5b63\u5ea6\u7684\u60c5\u51b5\u4e0b\uff0c\u7ba1\u7406\u5c42\u5c31\u5c06\u5168\u5e74\u8425\u6536\u6307\u5f15\u4e2d\u503c\u5927\u5e45\u4e0a\u8c03\u4e86\u7ea65.9\u4ebf\u7f8e\u5143\uff0c\u8fd9\u79cd\u7f55\u89c1\u7684\u4e0a\u8c03\u5e45\u5ea6\u8868\u660e\u7ba1\u7406\u5c42\u5bf9\u672a\u6765\u9700\u6c42\u7684\u80fd\u89c1\u5ea6\u6709\u4e86\u8d28\u7684\u98de\u8dc3\u3002\u5e02\u573a\u53cd\u5e94\u65b9\u9762\uff0c\u7531\u4e8e\u8d22\u62a5\u524d\u80a1\u4ef7\u5df2\u5927\u5e45\u4e0a\u6da8\uff08\u5e38\u89c4\u4ea4\u6613\u65f6\u6bb5\u6da8\u7ea66%\uff09\uff0c\u76d8\u540e\u80a1\u4ef7\u5728-3%\u81f3+4%\u4e4b\u95f4\u5bbd\u5e45\u9707\u8361\uff0c\u5448\u73b0\u5178\u578b\u7684\u201c\u9ad8\u4f4d\u9884\u671f\u535a\u5f08\u201d\u4e0e\u83b7\u5229\u4e86\u7ed3\u7279\u5f81\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u8d85\u5927\u89c4\u6a21\u5ba2\u6237<\/span><span data-contrast=\"auto\">DirectFlash<\/span><span data-contrast=\"auto\">\u67b6\u6784\u7684\u5b9e\u9645\u90e8\u7f72\u4e0e\u4ea4\u4ed8\u8282\u594f\uff1b\uff082\uff09\u4ea7\u54c1\u6536\u5165\u4e0eRPO\u7684\u6301\u7eed\u9ad8\u589e\u957f\uff1b\uff083\uff09NAND\u95ea\u5b58\u4ef7\u683c\u8d70\u52bf\u53ca\u5176\u5bf9\u6bdb\u5229\u7387\u7684\u5b9e\u9645\u51b2\u51fb\uff1b\uff084\uff09\u7b2c\u4e8c\u5bb6\u8d85\u5927\u89c4\u6a21\u5ba2\u6237\u7684\u8425\u6536\u722c\u5761\u60c5\u51b5\uff1b\uff085\uff09\u81ea\u7531\u73b0\u91d1\u6d41\u7684\u4fee\u590d\u4e0e\u8f6c\u6b63\u8fdb\u5ea6\uff1b\uff086\uff099\u670823\u65e5\u5206\u6790\u5e08\u5927\u4f1a\uff08FAM\uff09\u3002<\/span><span data-contrast=\"auto\">Everpure<\/span><span data-contrast=\"auto\"> \u51ed\u501f<\/span><span data-contrast=\"auto\">DirectFlash<\/span><span data-contrast=\"auto\">\u67b6\u6784\u5728\u80fd\u8017\u4e0e\u5bc6\u5ea6\u4e0a\u7684\u4f18\u52bf\uff0c\u6b63\u6210\u529f\u4ece\u4f20\u7edf\u4f01\u4e1a\u5b58\u50a8\u5411\u9ad8\u58c1\u5792\u7684AI\u4e0e\u8d85\u5927\u89c4\u6a21\u6570\u636e\u4e2d\u5fc3\u5e02\u573a\u6e17\u900f\uff0c\u6210\u957f\u903b\u8f91\u5f97\u5230\u5b9e\u8d28\u6027\u9a8c\u8bc1\u3002\u5c3d\u7ba1\u9700\u8b66\u60d5NAND\u5468\u671f\u6ce2\u52a8\u4e0e\u9879\u76ee\u5236\u4ea4\u4ed8\u5e26\u6765\u7684\u77ed\u671f\u73b0\u91d1\u6d41\u538b\u529b\uff0c\u4f46\u5176\u5f3a\u52b2\u7684\u8ba2\u5355\u52a8\u80fd\u4e0eTAM\u6269\u5f20\u8db3\u4ee5\u652f\u6491\u957f\u671f\u4f30\u503c\u3002<\/span><b><span data-contrast=\"auto\">27\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a100\u7f8e\u5143\u81f3130\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=\"{}\">&nbsp;<\/span><\/p>\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 STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week.\u00a0 Both RSI and MACD are constructive.\u00a0 Buy Entry 1.10, Target 1.20, Stop 1.05\u00a0 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising volume.\u00a0 Both RSI and MACD [&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-93782","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising\" \/>\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-27-august-2026\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.1.1\" \/>\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: 27 August 2026 \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og:description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/\" \/>\n\t\t<meta property=\"og:image\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<meta property=\"og:image:secure_url\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-08-26T17:42:47+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-08-27T06:18:09+00:00\" \/>\n\t\t<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/KGIAsiaSingapore\/\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"Technical Analysis: 27 August 2026 \u2022 KGI Singapore Research\" \/>\n\t\t<meta name=\"twitter:description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising\" \/>\n\t\t<meta name=\"twitter:image\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BlogPosting\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#blogposting\",\"name\":\"Technical Analysis: 27 August 2026 \\u2022 KGI Singapore Research\",\"headline\":\"Technical Analysis: 27 August 2026\",\"author\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/enya-tankgi-com\\\/#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#organization\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/Screenshot-2026-08-27-at-1.39.21-AM.png?wsr\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#articleImage\"},\"datePublished\":\"2026-08-27T01:42:47+08:00\",\"dateModified\":\"2026-08-27T14:18:09+08:00\",\"inLanguage\":\"en-US\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#webpage\"},\"articleSection\":\"Technical Analysis\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/technical-analysis\\\/#listItem\",\"name\":\"Technical Analysis\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/technical-analysis\\\/#listItem\",\"position\":2,\"name\":\"Technical Analysis\",\"item\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/technical-analysis\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#listItem\",\"name\":\"Technical Analysis: 27 August 2026\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#listItem\",\"position\":3,\"name\":\"Technical Analysis: 27 August 2026\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/category\\\/technical-analysis\\\/#listItem\",\"name\":\"Technical Analysis\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#organization\",\"name\":\"KGI Research Singapore\",\"description\":\"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/\",\"email\":\"info.sg@kgi.com\",\"telephone\":\"+6562021188\",\"logo\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/KGI-Logo_with-text.png?wsr\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#organizationLogo\",\"width\":1080,\"height\":1080},\"image\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#organizationLogo\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/KGIAsiaSingapore\\\/\",\"https:\\\/\\\/www.youtube.com\\\/@KGISecuritiesSingapore\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/kgisingapore\\\/\",\"https:\\\/\\\/www.investsg.asia\\\/users\\\/kgisingapore\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/enya-tankgi-com\\\/#author\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/enya-tankgi-com\\\/\",\"name\":\"Enya Tan\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#authorImage\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/4f09a39c9a5aa4debb9941c1ec24d69ad141e38f63db32b2779cc8567ab1f843?s=96&d=mm&r=g\",\"width\":96,\"height\":96,\"caption\":\"Enya Tan\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#webpage\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/\",\"name\":\"Technical Analysis: 27 August 2026 \\u2022 KGI Singapore Research\",\"description\":\"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising\",\"inLanguage\":\"en-US\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/technical-analysis-27-august-2026\\\/#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/enya-tankgi-com\\\/#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/author\\\/enya-tankgi-com\\\/#author\"},\"datePublished\":\"2026-08-27T01:42:47+08:00\",\"dateModified\":\"2026-08-27T14:18:09+08:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#website\",\"url\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/\",\"name\":\"KGI Singapore Research\",\"description\":\"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.\",\"inLanguage\":\"en-US\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.kgieworld.sg\\\/research\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"Technical Analysis: 27 August 2026 \u2022 KGI Singapore Research","description":"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising","canonical_url":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/","robots":"max-image-preview:large","keywords":"technical analysis","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BlogPosting","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#blogposting","name":"Technical Analysis: 27 August 2026 \u2022 KGI Singapore Research","headline":"Technical Analysis: 27 August 2026","author":{"@id":"https:\/\/www.kgieworld.sg\/research\/author\/enya-tankgi-com\/#author"},"publisher":{"@id":"https:\/\/www.kgieworld.sg\/research\/#organization"},"image":{"@type":"ImageObject","url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-27-at-1.39.21-AM.png?wsr","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#articleImage"},"datePublished":"2026-08-27T01:42:47+08:00","dateModified":"2026-08-27T14:18:09+08:00","inLanguage":"en-US","mainEntityOfPage":{"@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#webpage"},"isPartOf":{"@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#webpage"},"articleSection":"Technical Analysis"},{"@type":"BreadcrumbList","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research#listItem","position":1,"name":"Home","item":"https:\/\/www.kgieworld.sg\/research","nextItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/category\/technical-analysis\/#listItem","name":"Technical Analysis"}},{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/category\/technical-analysis\/#listItem","position":2,"name":"Technical Analysis","item":"https:\/\/www.kgieworld.sg\/research\/category\/technical-analysis\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#listItem","name":"Technical Analysis: 27 August 2026"},"previousItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#listItem","position":3,"name":"Technical Analysis: 27 August 2026","previousItem":{"@type":"ListItem","@id":"https:\/\/www.kgieworld.sg\/research\/category\/technical-analysis\/#listItem","name":"Technical Analysis"}}]},{"@type":"Organization","@id":"https:\/\/www.kgieworld.sg\/research\/#organization","name":"KGI Research Singapore","description":"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.","url":"https:\/\/www.kgieworld.sg\/research\/","email":"info.sg@kgi.com","telephone":"+6562021188","logo":{"@type":"ImageObject","url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/KGI-Logo_with-text.png?wsr","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#organizationLogo","width":1080,"height":1080},"image":{"@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#organizationLogo"},"sameAs":["https:\/\/www.facebook.com\/KGIAsiaSingapore\/","https:\/\/www.youtube.com\/@KGISecuritiesSingapore","https:\/\/www.linkedin.com\/company\/kgisingapore\/","https:\/\/www.investsg.asia\/users\/kgisingapore\/"]},{"@type":"Person","@id":"https:\/\/www.kgieworld.sg\/research\/author\/enya-tankgi-com\/#author","url":"https:\/\/www.kgieworld.sg\/research\/author\/enya-tankgi-com\/","name":"Enya Tan","image":{"@type":"ImageObject","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#authorImage","url":"https:\/\/secure.gravatar.com\/avatar\/4f09a39c9a5aa4debb9941c1ec24d69ad141e38f63db32b2779cc8567ab1f843?s=96&d=mm&r=g","width":96,"height":96,"caption":"Enya Tan"}},{"@type":"WebPage","@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#webpage","url":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/","name":"Technical Analysis: 27 August 2026 \u2022 KGI Singapore Research","description":"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.kgieworld.sg\/research\/#website"},"breadcrumb":{"@id":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/#breadcrumblist"},"author":{"@id":"https:\/\/www.kgieworld.sg\/research\/author\/enya-tankgi-com\/#author"},"creator":{"@id":"https:\/\/www.kgieworld.sg\/research\/author\/enya-tankgi-com\/#author"},"datePublished":"2026-08-27T01:42:47+08:00","dateModified":"2026-08-27T14:18:09+08:00"},{"@type":"WebSite","@id":"https:\/\/www.kgieworld.sg\/research\/#website","url":"https:\/\/www.kgieworld.sg\/research\/","name":"KGI Singapore Research","description":"Singapore's leading broker offering Futures, FX, Equities and Wealth Management.","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.kgieworld.sg\/research\/#organization"}}]},"og:locale":"en_US","og:site_name":"KGI Singapore Research \u2022 Singapore's leading broker offering Futures, FX, Equities and Wealth Management.","og:type":"article","og:title":"Technical Analysis: 27 August 2026 \u2022 KGI Singapore Research","og:description":"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising","og:url":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-27-august-2026\/","og:image":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","og:image:secure_url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","article:published_time":"2026-08-26T17:42:47+00:00","article:modified_time":"2026-08-27T06:18:09+00:00","article:publisher":"https:\/\/www.facebook.com\/KGIAsiaSingapore\/","twitter:card":"summary","twitter:title":"Technical Analysis: 27 August 2026 \u2022 KGI Singapore Research","twitter:description":"TECHNICAL ANALYSIS Technical Analysis: 27 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore STH SP StarHub Ltd. Shares closed on the 5dEMA with elevated volume for the week. Both RSI and MACD are constructive. Buy Entry 1.10, Target 1.20, Stop 1.05 SCI SP Sembcorp Industries Ltd. Shares closed above the 5dEMA with rising","twitter:image":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr"},"aioseo_meta_data":{"post_id":"93782","title":"#post_title #separator_sa #site_title","description":"#post_excerpt","keywords":null,"keyphrases":{"focus":[],"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"BlogPosting","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":{"faqs":[],"keyPoints":[],"schemas":[],"titles":[],"descriptions":[],"socialPosts":{"email":{"subject":"","preview":"","content":""},"linkedin":[],"twitter":[],"facebook":[],"instagram":[]}},"created":"2026-08-26 09:35:57","updated":"2026-08-26 17:42:47","seo_analyzer_scan_date":null,"focus_keyword":null,"additional_keywords":null,"truseo_locale":null},"_links":{"self":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/93782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/comments?post=93782"}],"version-history":[{"count":6,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/93782\/revisions"}],"predecessor-version":[{"id":93821,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/posts\/93782\/revisions\/93821"}],"wp:attachment":[{"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/media?parent=93782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/categories?post=93782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/research\/wp-json\/wp\/v2\/tags?post=93782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}