Group 1 - HSBC Global Research has lowered Lenovo Group's target price from HKD 14.8 to HKD 12.1 while maintaining a buy rating [1] - The reduction in earnings per share estimates for the fiscal years 2026 and 2027 is by 12% and 18% respectively, due to slowing PC shipment growth and the nominal interest on USD 2 billion convertible bonds [1] - Despite the weak shipment outlook, Lenovo's PC product mix is improving, with a projected quarter-on-quarter sales growth of approximately 5% for the IDG business (personal computers and mobile devices) by the end of June [1] Group 2 - Lenovo's management anticipates that the penetration rates of commercial and AI computers will drive growth momentum, despite uncertainties in shipment volumes [1] - The company is expected to see an acceleration in the personal computer upgrade cycle, leading to a recovery in IDG business gross margins in fiscal year 2026 [1] - Lenovo's ISG business is projected to remain profitable, with an expected operating profit of USD 43 million in fiscal year 2026, a significant turnaround from an operating loss of USD 69 million in fiscal year 2025 [1]

美股本周陆续发布一季报，科技股的财报尤为引人注目。 继特斯拉后，谷歌母公司Alphabet和英特尔也在周四盘后发布最新季报。财报显示，Alphabet的业绩仍在高速增长，但公司同时面临诸多来自政府的压力。而 英特尔新任CEO陈立武任内首次发布的财报超出市场预期，但短期内公司仍难以走出困境。 Alphabet业绩大涨 Alphabet公布第一季度财报好于市场预期。数据显示，公司第一季度营收902.3亿美元，同比增长12%，市场预估为891亿美元；净利润345亿美元，同比大涨 46%；每股收益2.81美元，上年同期为1.89美元，市场预估为2.01美元。 英特尔盘后大跌 陈立武态度谨慎 分业务来看，一季度，公司广告收入668.9亿美元，高于分析师预期的663.9亿美元，YouTube广告营收89.3亿美元，分析师预期89.4亿美元；云业务营收同比 增长28%，达到122.6亿美元，不及分析师预期的122.7亿美元。Alphabet周四还公布了一项700亿美元的股票回购计划，并将（季度）现金股息提高5%至0.21 美元。 今年3月，Alphabet宣布了以320亿美元现金收购网络安全公司Wiz，这笔交易是公司历史上 ...