华泰证券维持亚马逊优于大市评级，目标价220美元

Group 1: Meta (Facebook) - Meta's Q1 2025 revenue and net profit exceeded expectations, driven by strong advertising revenue, with some merchants pre-spending due to tariff impacts [1] - Despite potential pressure in Q2 from tariffs, Meta's long-term commercialization potential is significant, with AI products expected to enhance user engagement and ad personalization [1][2] - Analysts maintain a "Buy" rating for Meta, with a target price of $633 [1] Group 2: Apple - Apple reported Q2 FY25 results that met expectations, with ongoing AI hardware and software upgrades, and plans to shift most U.S. iPhone production to India to mitigate tariff impacts [4][5] - Despite challenges such as rising tariff costs and competition in Greater China, Apple demonstrated strong performance resilience and innovation capabilities [5] - Analysts maintain a "Buy" rating for Apple, with a target price of $260 [4] Group 3: Luckin Coffee - Luckin Coffee's Q1 2025 revenue grew by 41.2%, with a turnaround in operating profit due to improved gross margins and same-store growth [7] - The company opened 1,757 new stores, with a 24% increase in average monthly transaction users [7] - Analysts maintain a "Buy" rating for Luckin Coffee, with a target price of $43 [8] Group 4: Microsoft - Microsoft reported Q3 FY25 results that exceeded expectations, with Azure cloud business growing by 33%, driven by improved execution [12][13] - Despite challenges in SaaS demand, the company is expected to strengthen its market position through AI-driven growth and increased cloud infrastructure supply [12][14] - Analysts maintain a "Buy" rating for Microsoft, with a target price of $460 [13] Group 5: Amazon - Amazon's Q1 results surpassed expectations, with a 64% year-over-year increase in net profit, bolstered by an enhanced AI product matrix [22] - Despite tariff impacts on e-commerce growth, AWS operating profit margins are expected to improve in the second half of the year [22][23] - Analysts maintain a "Buy" rating for Amazon, with a target price of $220 [22] Group 6: Intel - Intel is making progress in its foundry business, with trial production of the 18A node and advancements in mature nodes [25] - Despite risks related to AI implementation and industry competition, the company's competitiveness in process technology and advanced packaging is expected to enhance its valuation [25]