Market Insight | Lenovo Group rises more than 3%, new servers to be equipped with NVIDIA Blackwell PC momentum may continue until the end of the year
Lenovo Group's stock price rose by 3.49% to HKD 11.28, with a turnover of HKD 169 million. The company announced at the Tech World Conference that it will launch the ThinkSystem SC777 server equipped with the NVIDIA Blackwell AI accelerator card. Morgan Stanley predicts that Lenovo's PC business will continue to grow by the end of the year, especially with the shipment of AI servers driving revenue growth. It is expected that the performance of the personal computer business will outperform peers
According to the information from Zhitong Finance and Economics APP, Lenovo Group (00992) rose by more than 3%, as of the time of publication, it increased by 3.49% to HKD 11.28 with a turnover of HKD 169 million.
On the news front, on October 16th, Lenovo Group announced the next phase of Smarter AI for all vision at the Tech World Conference, showcasing a comprehensive range of artificial intelligence solutions, services, and devices. Of note, at the 2024 Tech World, Lenovo Group's Chairman and CEO Yang Yuanqing and NVIDIA CEO Jensen Huang jointly announced that the SC777 model in the Lenovo ThinkSystem server series will be equipped with the NVIDIA Blackwell AI accelerator card (GPU).
Morgan Stanley released a research report stating that Lenovo Group's PC momentum may continue until the end of this year, with the Infrastructure Solutions Group (ISG) of Lenovo possibly being driven by traditional and AI servers, seeing an increase in December. At the same time, the bank believes that personal computers will also drive an upward revision in the forecast for the quarter ending in September.
Looking ahead to the December quarter, Morgan Stanley believes that Lenovo Group's performance in the personal computer business may outperform its peers, as market share continues to increase, with a quarter-on-quarter growth rate remaining steady or rising by up to 5%. The bank believes that the momentum of revenue growth for the group should be sustainable, especially since Lenovo's AI servers only began shipping in the quarter ending in September, and with the high combination and large scale of AI servers, it is highly likely to reach a breakeven level