每日投资策略-20250514

Group 1: Industry Insights - The semiconductor industry shows strong resilience in capital expenditures from major overseas cloud providers, with a combined capital expenditure of $73 billion in Q1 2025, representing a 63$319 billion, a 39% year-on-year growth [2] - The recent reduction in tariffs between the US and China is seen as a positive signal for the Chinese technology supply chain, particularly benefiting consumer electronics companies like Apple [2][6] Group 2: Company Analysis - Tencent Music reported Q1 2025 earnings that met expectations, with total revenue growing by 9% year-on-year to $7.36 billion, and non-IFRS net profit increasing by 25$2.12 billion [6] - The company is expected to see revenue and non-IFRS net profit growth of 12% and 23% respectively in Q2 2025, leading to an upward revision of FY25-27 earnings forecasts by 0-6% [6] - The target price for Tencent Music has been raised by 6% to $17.5, reflecting confidence in its competitive position and business model despite macroeconomic uncertainties [6] Group 3: Stock Recommendations - Recommended stocks include BYD Electronics, AAC Technologies, Luxshare, and FIT Hon Teng, all of which are expected to benefit from the favorable tariff environment and strong demand in the technology sector [6][7] - Specific target prices and potential upside for these stocks have been outlined, with BYD Electronics having a target price of$43.22, representing a 23% upside [7] - Other notable recommendations include Alibaba, Tencent, and Kuaishou, all rated as "Buy" with significant potential upside based on current valuations [7]