Zhi Tong Cai Jing·2025-08-04 03:25Core Viewpoint - Lenovo Group (00992) is expected to outperform market expectations for its first fiscal quarter ending June 30, primarily due to a shift in capital expenditure from AI servers to general servers, leading to strong growth in server revenue [1] Group 1: Financial Performance - Lenovo's stock rose over 3%, currently at HKD 77.5, with a trading volume of HKD 235 million [1] - Nomura's report anticipates that Lenovo's performance will exceed market expectations for the first fiscal quarter [1] Group 2: Market Position - Lenovo is gaining market share in the personal computer sector from competitors like Dell and HP, which is expected to enhance overall sales and profitability for the quarter ending June 30 [1] - Despite earlier order lead times in the upstream supply chain for personal computers, the impact on downstream brand shipment forecasts is expected to be limited, allowing Lenovo to continue increasing its market share [1]