Shares of Google parent Alphabet (GOOG) (GOOGL) hit a new record high on Thursday, continuing its winning streak for a second consecutive day. Class A shares of the company rose as much as 4.4% to $305.65 in early open market trading. ...

Indian internet companies are going public, and investors are jumping in. It may pay to wait until the smoke clears. ...

Chinese technology powerhouses are beginning to reap early returns from their heavy investments in artificial intelligence, with quarterly results showing the impact across businesses from short video platforms like Kuaishou Technology to social media giants like Tencent Holdings. Kuaishou, China's second-largest short video app and rival to TikTok's Chinese sibling Douyin, was the latest to highlight gains from AI adoption. The company, in an earnings statement on Wednesday, attributed its third-quarter r ...

Core Viewpoint - November presents a favorable opportunity for investors to acquire undervalued stocks, particularly in the AI sector, as tax-loss harvesting may lead to attractive pricing Group 1: Meta Platforms - Meta Platforms' share price declined significantly after its third-quarter results, primarily due to aggressive spending rather than poor performance, which remains strong [2][5] - The company is leveraging AI to enhance ad revenue by providing engaging content to users and improving ad targeting, resulting in a 26% revenue increase last quarter, with ad impressions up 14% and average ad prices rising 10% [3] - Meta has begun serving ads on WhatsApp and Threads, presenting new revenue opportunities, and despite its metaverse investments, it continues to generate strong free cash flow, making it an attractive buy [5] Group 2: Pinterest - Pinterest's stock price fell sharply post-earnings report, but it is now trading at a forward P/E ratio of just 13x, indicating a potential bargain [6] - The company reported a 17% year-over-year revenue growth and a 24% increase in adjusted EBITDA last quarter, showcasing its strong performance [6] - Pinterest is experiencing growth in international user additions and average revenue per user (ARPU), and it has successfully transformed its platform into a shoppable discovery site using AI [8][9] Group 3: GitLab - GitLab's stock has been undervalued despite consistent revenue growth exceeding 25%, attributed to its seat-based subscription model [10][12] - The perception that AI will reduce the need for coders is misleading, as GitLab's AI Duo solution is enhancing productivity among developers [12][13] - GitLab is transitioning to a hybrid seat-plus-usage pricing model, which is expected to drive growth and improve its value proposition, with a price-to-sales multiple below 6.4 based on 2026 estimates [13]

Core Insights - NetEase reported its unaudited financial performance for Q3 2025, showing a positive growth trajectory across various business segments [1][2] Financial Performance - Revenue reached 28.4 billion RMB (approximately 4 billion USD), marking an 8.2% increase compared to the same period in 2024 [2] - Gross profit was 18.2 billion RMB (around 2.6 billion USD), reflecting a 10.3% growth year-over-year [2] - Total operating expenses amounted to 10.2 billion RMB (about 1.4 billion USD), which is an 8.9% increase from 2024 [2] - Net profit attributable to ordinary shareholders was 8.6 billion RMB (1.2 billion USD) [2] - Non-GAAP net profit attributable to ordinary shareholders was 9.5 billion RMB (1.3 billion USD) [2] Business Segment Performance - Revenue from games and related value-added services was 23.3 billion RMB (3.3 billion USD), up 11.8% year-over-year [2] - Youdao's net revenue was 1.6 billion RMB (approximately 228.8 million USD), showing a 3.6% increase compared to 2024 [2] - Net revenue from NetEase Cloud Music was 2 billion RMB (around 275.9 million USD), which represents a decline of 1.8% year-over-year [2] - Revenue from innovative businesses and others was 1.4 billion RMB (approximately 202.1 million USD), down 18.9% compared to the previous year [2] User Engagement - The game "Fantasy Westward Journey" achieved a peak of 3.58 million concurrent players for four consecutive times since Q3 [1]

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Analysts are Tracking Closely. On November 18, Loop upgraded the stock to “Buy” from Hold and raised its price target to $320.00 from $260.00. The firm believes that the wall of worry for Alphabet shares has been “obliterated” and that investors are less concerned about AI cannibalization of search. Analysts also noted that Google search results “remain as healthy as ever” with benefits from AI Overviews and AI Mode features. Moreover, traffic share to ...

Core Insights - The overall favorable market sentiment in 2025 is expected to drive an increase in valuation multiples for the Chinese internet industry, with small and mid-cap vertical companies continuing to outperform the market [1] - Major Chinese internet companies are actively increasing capital expenditures and investing more in the artificial intelligence (AI) sector, with the launch of the domestic AI model DeepSeek positively influencing investor sentiment [1][2] - The valuation multiples for major internet companies have expanded to approximately 17 times adjusted earnings, making them relatively cheaper compared to the U.S. "Tech Seven" companies, which have valuations around 31 times [1] Investment Trends - A significant trend in the Chinese internet industry is the embrace of AI, with major companies increasing capital expenditures driven by demand [2] - Despite concerns over geopolitical uncertainties affecting chip supply, the focus on GPU efficiency and utilization allows Chinese internet companies to adjust their investment targets more flexibly [2] - Domestic AI chip manufacturers are rapidly improving performance due to ongoing self-research investments from internet companies [2] AI and Cloud Market Dynamics - Chinese cloud vendors are committed to investing in AI, with leading companies maintaining their annual capital expenditure guidance to enhance chip utilization and deployment efficiency [2] - Large language models (LLMs) and AI are expected to become sustainable growth drivers for the cloud market, creating cross-selling opportunities for traditional businesses [2] E-commerce and Retail Trends - Another trend in the Chinese internet industry is the increased investment in instant retail, aiming to boost user engagement through high-frequency delivery transactions [3] - The competition in the instant retail sector is stabilizing, with industry transaction volume growth slowing down, and a return to normalcy is anticipated following the end of major e-commerce promotions [3]

Core Insights - Yann LeCun, Meta's Chief AI Scientist, will leave the company to establish his own AI startup focused on world models, a field he has extensively researched [2][3] - Meta plans to collaborate with LeCun's startup, aiming to leverage its innovative outcomes [3][4] - LeCun's departure is significant for Meta, as he is regarded as a foundational figure in modern AI, having co-founded the Facebook AI Research (FAIR) and received the Turing Award [5] Group 1: Company Developments - Meta's current AI focus has shifted towards large language models (LLMs), including the Llama series, following a series of setbacks earlier this year, such as the delayed release of the Llama 4 model [4][5] - The company has invested billions in recruiting talent and establishing the Meta Superintelligence Lab (MSL), led by notable figures from Scale AI and GitHub [4] Group 2: Research Focus - LeCun's new startup aims to advance research in advanced machine intelligence (AMI), which he believes will have profound impacts across various economic sectors, some of which overlap with Meta's interests [5] - The startup will pursue the development of systems capable of understanding the physical world, possessing persistent memory, reasoning, and planning complex behavior sequences [3][5]

Core Insights - Google has opened its largest artificial intelligence (AI) infrastructure hardware engineering center outside the United States in Taiwan, highlighting the strategic importance of Taiwan in the global tech landscape [1] Group 1: Company Developments - The new AI center in Taiwan is a significant investment by Google, reflecting its commitment to expanding AI capabilities and infrastructure [1] - Taiwan's president emphasized the center's role in enhancing Taiwan's position as a key player in the global technology supply chain [1] Group 2: Industry Implications - The establishment of this AI center is expected to foster collaboration between Google and local tech firms, potentially leading to innovation and growth in the AI sector [1] - This move may also attract further investments in AI and technology infrastructure in Taiwan, reinforcing its status as a tech hub in Asia [1]

Group 1 - The Hang Seng Technology Index experienced a decline of over 1% on November 20, with significant fluctuations in the largest A-share counterpart, the Hang Seng Technology Index ETF (513180), which followed the index's downward trend [1] - The Hang Seng Technology Index reached a recent high of 6715.46 on October 2, but has since undergone a correction of over 15% in less than two months, including a "four consecutive days of decline" in the last four trading days [1] - Concerns regarding the "AI bubble" and the cooling of the Federal Reserve's interest rate cut expectations have contributed to the pullback in the Hong Kong technology sector [1] Group 2 - Multiple institutions remain optimistic about the medium to long-term prospects of the Hong Kong technology and internet sector, with Cathay Pacific Securities believing that the AI wave will be a key theme for 2026 [1] - Shenyin Wanguo pointed out that AI is becoming a significant driving force in the Hong Kong internet industry, leading to accelerated growth in cloud revenue, with AI cloud products showing higher profit margins compared to traditional cloud products [2] - As of November 19, the latest valuation (PETTM) of the Hang Seng Technology Index ETF (513180) was 21.74 times, lower than other major global technology indices, indicating that the index is currently undervalued and presents a compelling investment opportunity [2]