Core Insights - Gartner reported revenue of $1.53 billion for the quarter ended March 2025, reflecting a 4.2% increase year-over-year, with EPS at $2.98 compared to $2.93 in the same quarter last year [1] - The reported revenue met the Zacks Consensus Estimate, while the EPS exceeded the consensus estimate by 9.56% [1] Financial Performance Metrics - Revenue from Research was $1.32 billion, slightly below the estimated $1.33 billion [4] - Revenue from Conferences was $73 million, significantly lower than the estimated $92.79 million [4] - Revenue from Consulting was $140 million, surpassing the estimated $113.05 million [4] Stock Performance - Gartner's shares have returned +11.6% over the past month, slightly outperforming the Zacks S&P 500 composite's +11.5% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - The job market is increasingly challenging, but there are promising IT career paths for individuals with no prior experience [1] Group 1: IT Career Opportunities - Python is highlighted as an accessible programming language, with many companies hiring Python developers, especially for data analysis roles, offering an average salary increase of 2K for those who know Python [3] - Front-end development is in high demand, with frameworks like Vue and React being popular among developers, leading to a competitive job market where many graduates quickly secure positions [3] - Data analysis skills using tools like Pandas and Tableau are becoming essential across various industries, including retail, with a notable gender representation in the field [3] - Cybersecurity roles are increasingly valuable, with professionals in penetration testing and vulnerability assessment commanding salaries upwards of 30K after three years of experience [3] - UI design is another entry point into the IT industry, with tools like Figma and Sketch being user-friendly for those with a good aesthetic sense [3] Group 2: Training and Education - The importance of selecting the right training institution is emphasized, with recommendations for programs that provide hands-on project experience and accessible instructor support [4] - Completing practical projects is crucial for job applications, as employers prefer to see a portfolio of work rather than theoretical knowledge [4] - English proficiency is not a barrier for entering programming, as the required vocabulary is basic and many development environments offer auto-completion features [4] Group 3: Market Trends - The current job market for IT roles is more equitable compared to other industries, as success is primarily determined by skills rather than connections [5] - The demand for IT skills continues to grow, making it a viable option for career transition despite increased competition compared to previous years [5]

Equity of INVL Technology and the Company's net asset value as of 31 March 2025 was EUR 51.36 million or EUR 4.2767 per share (31 December 2024 these figures were EUR 51.43 million and EUR 4.2896 respectively). Investments of the Company into managed companies amounted to EUR 54.16 million at the end of March 2025 and EUR 45.35 million at the end of March 2024. The net loss of the Company for 3 months of 2025 amounted to EUR 0.079 million; the net profit of the Company for 3 months of 2024 was EUR 0.279 mi ...

Investment Rating - The report maintains an Overweight rating on Technology and upgrades Autos to Overweight within Cyclical Value, while Underweighting Construction, Energy, Telecoms, and Utilities [2][7][24]. Core Insights - European equities have stabilized amid moderating trade rhetoric from the Trump Administration, but EPS downgrades are accelerating, with the Earnings Revision Index (ERI) at "recessionary" levels around -60% [2][4][3]. - Historically, such negative ERI readings have been contrarian buy signals, with European equities averaging 25% returns over the following 12 months [4][8]. - The ongoing Q1 reporting season shows 61% of Stoxx 600 companies exceeding EPS expectations, indicating low expectations overall [5][6]. Summary by Sections Earnings - The ERI for Europe is at -61%, the lowest since COVID, indicating widespread downgrades across sectors, with expectations of further downgrades averaging around 20% [15][16]. - Analysts expect a 6 percentage point drag on MSCI ACWI EPS growth due to proposed tariffs, aligning with a global EPS growth forecast of +4% for 2025 [6][27]. Market Views & Sector Strategy - The report suggests that trading conditions may remain volatile due to macro and policy uncertainties, but there is potential for a 5-10% upside for European equities by year-end [7][24]. - The report recommends a balanced approach with Overweights in Tech and Autos, while maintaining Overweights in traditional Defensives like Health Care and Personal Care [2][7]. Valuation - The Pan-European Stoxx 600 index trades at a 12-month forward PE of 13-14x, in line with its long-run median, while traditional Cyclicals are trading at the lowest valuations [85][86]. - The report notes that the current 27% discount of Europe to the US remains significant despite narrowing [85][86].

IDC总裁德尔普雷特在接受日本经济新闻（中文版：日经中文网）的独家采访时透露，2025年全 球IT支出增长率将从同比增长10％降至同比增长5％。2025年半导体市场的增长率也可能从原本 预计的11％降至9％左右…… IDC总裁克劳福德・德尔普雷特（Crawford Del Prete）在接受日本经济新闻（中文版：日经中文 网）的独家采访时透露了上述内容。此前，IDC预计2025年的IT支出规模为4.1万亿美元，同比增 长10％。德尔普雷特表示，由于美国启动关税政策，"被认为会出现增长率降至5％的情况"。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 IT支出不仅包括智能手机和服务器等硬件，还涵盖云服务等软件产品。预计硬件和软件都将因特 朗普关税而导致成本增加，并转嫁到价格上。德尔普雷特预测称："价格上涨会让消费者难以购买 产品和服务，自2025年下半年起，IT支出将减速"。 除了IT支出外，IDC还汇总了半导体市场动向。包括特朗普政府正在考虑引进的半导体关税政 策，IDC还在研究2025年半导体市场的增长率从原本预计的11％降至9％左右的可能性。 半导体的设计、生产、制造设备、零部 ...

智通财经4月27日电，据日经中文，美国特朗普政府的关税政策正在成为高科技产业的逆风，如果将税 率上升部分转嫁到价格上，那么智能手机、个人电脑、服务器等多种产品的需求将下降。调查公司IDC 预计，2025年全球IT支出增长率将从同比增长10％降至同比增长5％。此前，IDC预计2025年的IT支出 规模为4.1万亿美元，同比增长10％。 受特朗普关税影响 IDC预计2025年全球IT支出增长率将从10％降至5％ ...

Core Insights - The overall trend in China's private equity investment market continued to decline in Q1 2025, but the rate of decline has narrowed, indicating signs of recovery [2][4] - The AI sector experienced counter-cyclical growth in investment and financing activities [2][7] Fundraising - In Q1 2025, the number of newly raised funds was 992, with a total amount of 3470.84 billion RMB, both down by 2.9% year-on-year [3] - Excluding real estate and infrastructure investment funds, the new fund size was 3261.05 billion RMB, showing a year-on-year increase of 17.6% [3] - Foreign currency fundraising remained low, with only 4 foreign currency funds completing new rounds, raising approximately 4.5 billion RMB, a decline of over 70% year-on-year [3] Investment Activity - The number of investment cases in Q1 2025 rebounded to 2329, up 12.2% year-on-year, while the disclosed investment amount was 1398.24 billion RMB, down 27.9% [4] - The hard technology sector remained a market hotspot, with significant investment activity in semiconductors, electronic devices, IT, healthcare, and mechanical manufacturing [4] Exit Activity - There were 500 exit cases in Q1 2025, a decrease of 33.8% year-on-year [4] - The number of IPO cases for invested companies was 239, reflecting a year-on-year increase of 22.6%, indicating a slight improvement in the listing environment for Chinese companies [4] AI Sector Insights - In Q1 2025, the AI sector recorded 351 financing cases with total investments exceeding 20 billion RMB, down 20.5% year-on-year [7] - Excluding specific high-profile cases, the investment amount in the AI sector was nearly 19 billion RMB, showing a year-on-year increase of 29.1% [7] - Over the past five years, more than 5400 AI companies have received support from VC/PE institutions, with nearly 70% completing their first round of financing [7] - From 2024 to Q1 2025, there were over 1700 investment cases in the AI sector, with a total investment amount of approximately 120 billion RMB, although there remains a valuation and financing gap between Chinese and US AI companies [7]

智通财经APP获悉，根据Insider Mondey近期发布的一份"亿万富翁眼中值得买入的30只最佳AI股票"榜 单，戴尔科技(DELL.US)位列其中，该股受到亿万富翁及对冲基金青睐，大摩等机构也看好其未来借力 AI热潮的积极发展。 过去几个月，受AI热潮推动，美国经济前景一片乐观。但近期特朗普为扶持美国制造业所采取的关税 政策出台转头就泼了冷水。这一系列举措迅速冲击全球股市，各大主要指数皆呈螺旋式下跌。而最新一 轮关税上调，已使"七巨头"市值蒸发数万亿美元。七巨头主导着美国基准指数，且在AI领域投入巨大。 戴尔科技受到众多亿万富翁投资者及对冲基金的青睐，持有其股票的对冲基金数量为63家，持有其股票 的亿万富翁投资者数量为11位，其中亿万富翁持股市值为2.58亿美元。 戴尔科技从事各类综合集成解决方案、产品及服务的设计、开发、制造、营销、销售和技术支持。该公 司通过与超大规模数据中心运营商在服务器领域的合作，以及生产具备AI功能的个人电脑，涉足AI领 域。 市场研究公司国际数据公司(IDC)的最新报告指出，如果关税持续存在，预计将在包括IT行业在内的多 个市场引发供应链中断和通胀挑战。据路透社报道，在上周特 ...

Group 1: Financial Performance - INVL Technology reported an audited net profit of EUR 8.09 million in 2024, a 56.5% increase from EUR 5.17 million in 2023 [1] - The company's equity and net asset value reached EUR 51.43 million at the end of December 2024, marking an 18.2% increase year-over-year [1] - The per share value of equity and NAV grew by 19% to EUR 4.2896 [1] Group 2: Portfolio Company Performance - The aggregated revenues of INVL Technology's portfolio companies amounted to EUR 66.23 million in 2024, a 5.8% increase from 2023 [4] - Gross profit for the portfolio companies increased by 9.7% to EUR 19.78 million, while aggregated EBITDA grew by 42.7% to EUR 5.13 million [4] - NRD Cyber Security's consolidated revenue increased by 37.6% to EUR 10.19 million, with gross profit rising by 12.7% to EUR 4.50 million [5] - NRD Companies reported consolidated revenue of EUR 9.97 million, a 9.3% decrease from 2023, but gross profit increased by 9.8% to EUR 4.83 million [6] - Novian's consolidated revenues reached EUR 38.90 million, a 2.4% increase, with gross profit growing by 14.4% to EUR 8.80 million [7] Group 3: Strategic Developments - INVL Technology is in the process of selling its portfolio of businesses, with Corum Group International serving as the M&A intermediary [3][2] - The company is managed by INVL Asset Management, which is the leading alternative asset manager in the Baltics [8] - INVL Technology is a closed-end investment company that must exit its investments by mid-July 2026 and distribute the proceeds to shareholders [8]

以下文章来源于清科研究 ，作者创造价值的 清科研究 . 清科创业（01945.HK）旗下清科研究中心致力于为众多的有限合伙人、VC/PE机构、战略投资者、以 及政府机构、律师事务所、会计事务所、投资银行、研究机构等提供专业的信息、数据、研究和咨询服 务。 年度盘点。 作者 | 清科研究 来源 | 清科研究 （ID：pedata2017） 01 整体回顾 02 市场分布 A股IPO总量同比收缩近七成，创业板上市企业数量相对较多 2024年中企IPO市场总体呈现出阶段性收缩态势，但下半年IPO活跃度环比有所回升。 根据清科创业（01945.HK）旗下清科研究中心统计，2024年中企境内外上市195家 【1】，同比下降51.1%，首发融资额约合人民币1442.66亿元【2】，同比下降 63.6%，上市企业数量和融资金额为近10年新低；其中，下半年有113家中企IPO，首 发融资额约合人民币973.53亿元，环比分别上升37.8%、107.5%。 分市场来看，2024年 A股 共有100家企业上市，同比下降68.1%； 境外市场 共95家 中企上市，同比上升10.5%，其中今年全市场首发融资额前三大中企IPO均于港股 ...