LongPort - 最新资讯

Singapore shares end higher on Tuesday; STI up 1%

Businesstimes News

Singapore's Straits Times Index rose 1% to close at 5,754.17 on Tuesday, outperforming mixed regional markets. Yangzijiang Shipbuilding led gains with an 11% surge, extending its rally following strong H1 earnings. Conversely, Singapore Airlines fell 5.9%. Local banks showed mixed results, while broader market activity saw 327 gainers versus 281 losers. Analysts from Julius Baer highlighted continued favorability towards semiconductors and large software companies.

Dolphin Research

Tencent Music 2Q26 First Take: Q2 results were not strong. The apparent beat mainly reflects the consolidation of a little over one month of Ximalaya, and Bloomberg consensus likely did not fully capture that change. Ex-Ximalaya, Dolphin Research’s rough cut indicates Q2 tracked broadly in line with end-Q1 guidance.

The only consolation lies in shareholder returns, with buybacks running ahead of pace. The plan called for just over $900 mn for the year, but the company spent $400 mn in less than two months, as buybacks could only start after Ximalaya was consolidated on May 18.

Overall, Q2 reflects the ongoing drag from competition. Tencent Music is leveraging its ecosystem to expand offline entertainment, and pursuing M&A integration as self-help.

From an investment angle, Dolphin Research keeps its view unchanged: near term, the downside looks well-defined, supported by the intrinsic value of music/audio assets and buybacks. However, upside elasticity remains limited, so the risk-reward still hinges on mean reversion after an over-selloff.

1) Total revenue was RMB 8.9 bn, up 6% YoY. Ximalaya contributed RMB 400 mn; excluding it, the legacy biz grew 1%, slightly below post-Q1 guidance.

(1) Subscription revenue: legacy music likely below expectations. Details below.

Q2 subscription revenue was RMB 4.79 bn, up 8% YoY. Since the company no longer discloses volume/price splits this year, Dolphin Research estimates legacy music membership revenue at RMB 4.5 bn (assuming Ximalaya’s subs are 65% of its revenue). Assuming flat ARPPU QoQ and -2% YoY, net adds were roughly 0.6 mn.

(2) Other music: mainly driven by offline concerts. Details below.

Other music revenue reached RMB 2.8 bn, with growth slowing to 16% on a high base. Ads likely softened on macro and competition from Soda Music, while offline concerts were the key driver.

(3) Social entertainment: further deterioration. Details below.

Live-streaming and karaoke revenue fell 16% YoY. The segment has not found a floor post clean-up, and competition from peers likely weighed.

2) Profitability improved slightly, with adj. margin up 1.5ppt QoQ to 31.1%. The QoQ change was larger than in prior years.

(1) GPM dipped slightly, reflecting the higher cost base of offline concerts, while the Ximalaya acquisition helped optimize content costs.

(2) OPM edged up. While consolidating Ximalaya added amortization of intangibles, S&M growth slowed; Q1 had already front-loaded spend (+36% YoY), and long-form audio integration also aided user acquisition.$Tencent Music(TME.US) $TME-SW(01698.HK)

RKLB: Neutron may be delayed; can it challenge SpaceX?

Dolphin Research

Neutron is key to elevating RKLB from a small-lift launch provider to a SpaceX challenger

This AI Cloud Stock Is Obliterating Amazon, Microsoft, and Alphabet With a 1-Year Return of 275%. Is It Still a Buy?

Motley Fool

DigitalOcean (DOCN) has surged 275% in a year, outperforming tech giants by targeting SMBs with affordable AI cloud solutions. Driven by its 'AI-Native Cloud' platform, Q2 revenue rose 29% to $281.2 million, with AI ARR up 212%. Strong demand is evidenced by an 12-fold increase in remaining performance obligations. Despite a high current P/S ratio of 14.1, the forward P/S of 7.2 suggests potential value for long-term investors.

NVDA teams up with six tech giants to mobilize RMB 500bn for AI infra; PDD rolls out 'arrives as soon as tomorrow' entry | Daily News Recap

Dolphin Research

0811 Dolphin Focus: 🐬 Macro/Industry 1. Douyin Life Services made Doubao an exclusive hospitality & travel transaction channel effective 00:00 on Aug 10. Hotel orders incur an 11.4% software service fee plus a 0.6% payment processing fee, for a 12% all-in take rate. Previously, Doubao traffic was categorized under Douyin’s organic channel with an 8% blended rate.

Doubao stated there are no paid hotel ads or paid ranking mechanisms, and merchants cannot pay to influence recommendation order.

The channel leverages AI search to drive incremental traffic. We will monitor whether the added order volume offsets merchants’ higher channel costs...

Intel's Foundry Grew 31% Last Quarter and Lost $2.1 Billion Doing It.

Motley Fool

Intel's Foundry division reported a $2.1 billion loss on $5.8 billion revenue in Q2, marking a 31% year-over-year growth and halving the loss per dollar of revenue compared to last year. While operating losses narrowed due to improved yields on Intel 18A processes, external customer revenue remains minimal at $293 million, with most sales being internal. The company targets break-even by 2027, supported by upcoming Intel 14A processes, but currently relies heavily on its own product demand.

Intel Makes $15 Billion Move to Fund AI Ambitions

benzinga_article

Intel plans a $15 billion stock offering to fund AI growth and chip manufacturing, with shares dropping over 4% in premarket trading. Proceeds will support capital expenditures and working capital as the company targets strong demand in AI infrastructure, physical AI, and advanced packaging. The underwriters have an option to purchase up to an additional $2.25 billion, potentially raising $17.25 billion total.

RKLB (Trans): >$1bn in new bookings, Neutron window narrows

Dolphin Research

Q2 revenue hit a record high at $234 mn. Q2 and post-quarter bookings topped $1 bn.

However, the Neutron first-launch window is narrowing. Q3 GAAP GPM guidance is down to 29%–31%, and FCF is still expected to see sizable outflows. Meanwhile, the company is betting on a third growth curve in space applications, anchored by the planned Iridium acquisition expected to close by mid-2027.

Warren Buffett Personally Initiated Berkshire's $30 Billion Alphabet Stake, a Sign He's Still Making Calls Despite Stepping Back as Chairman

Motley Fool

Despite stepping down as CEO in early 2026, Warren Buffett remains Berkshire Hathaway's chairman and continues to influence major investment decisions. The $30 billion stake in Alphabet was personally initiated by Buffett but approved by successor Greg Abel, signaling a collaborative transition rather than an abrupt departure. This move reassures investors that Buffett provides strategic guidance while Abel manages day-to-day operations.

Amazon Stock Hits a New All-Time High: Is It Still a Buy?

Motley Fool

Amazon stock hit an all-time high of $287, driven by strong quarterly earnings and AWS growth. While the P/E ratio appears low at 22, this is partly due to $53.4 billion in investment income from Anthropic. Excluding these gains, valuation remains reasonable with a forward P/E of 23. Despite AI spending, investor sentiment is bullish, viewing Amazon as a solid long-term buy.

Warren Buffett's Successor, Greg Abel, Just Bought $4.5 Billion of the Oracle of Omaha's Favorite Stock (No, Not Alphabet!)

Motley Fool

Berkshire Hathaway's new CEO Greg Abel has resumed stock buybacks, purchasing $4.53 billion of the company's shares in Q2 2026. This marks the largest quarterly repurchase in five years and brings total buybacks since 2018 to over $82 billion. The move signals strong confidence in Berkshire's future, serving as a dividend alternative and boosting EPS, with purchases likely continuing while the stock trades below a 50% premium to book value.

New Fed Chair Kevin Warsh Has Refused to Give Forward Guidance for 2 Straight Meetings. Here's Why That Should Worry Markets.

Motley Fool

New Fed Chair Kevin Warsh has refused to provide forward guidance for two consecutive meetings, citing concerns that it interferes with market efficiency and binds policymakers to outdated predictions. However, this approach increases uncertainty, as markets still attempt to guess policy moves. This lack of clarity recently triggered significant volatility, including an 840-point drop in the Dow Jones Industrial Average, warning investors of heightened risks around future FOMC announcements.

The Federal Reserve Just Released Its August Inflation Forecast, and It Could Put the FOMC on a Collision Course for Its September Meeting

Motley Fool

The Federal Reserve's August inflation forecast suggests a potential reacceleration, particularly in core metrics, which may influence the FOMC's decision at its September meeting. With current odds favoring a rate hike, upcoming July and August CPI data are critical. The Cleveland Fed's Nowcasting estimates indicate rising monthly core CPI, potentially pushing hawkish members to advocate for tighter policy, while doves may argue the increase is modest.

Alphabet's Cloud Computing Business Just Posted 82% Revenue Growth. Next Quarter Could Be Even Better.

Motley Fool

Alphabet's cloud computing revenue surged 82% year-over-year to $24.8 billion in Q2, marking five consecutive quarters of accelerating growth. Driven by AI demand and strong backlog visibility, the company expects continued expansion. While capital expenditures rose 100% to fund data centers, management anticipates significant future returns. The segment's operating margin has room to grow toward competitors' levels, positioning Alphabet for substantial long-term cash flow generation despite near-term investment pressures.

Nvidia CEO Jensen Huang Told Investors in Seoul to "Buy at a Discount" During the Recent AI Stock Sell-Off. Here's Whether His Call Has Paid Off.

Motley Fool

Nvidia CEO Jensen Huang advised investors to buy AI stocks at a discount during the recent market sell-off. Two months later, Nvidia shares have risen 5.1% since his June 8 comment, slightly outperforming the S&P 500. A diversified basket of major AI stocks (Nvidia, Microsoft, Amazon, Alphabet) gained 8.5%, significantly beating the market. Huang emphasizes that current AI spending is just the beginning, predicting long-term growth rather than short-term gains.

There's a 58% Chance of a Fed Rate Hike in October. These Are Stocks to Buy Anyway.

Motley Fool

With a 58% probability of a Federal Reserve rate hike in October, the article recommends buying UnitedHealth Group, JPMorgan Chase, and Chevron. UnitedHealth is viewed as resilient due to essential healthcare demand. JPMorgan benefits from higher rates via increased net interest income. Chevron gains from inflation driven by fuel prices. These stocks are considered strong performers regardless of whether rates rise or remain flat.

Apple Added About $1.5 Trillion in Market Value in a Year. Here's What $10,000 Invested a Decade Ago Is Worth Now.

Motley Fool

Apple's market value surged by $1.5 trillion in the past year, reaching approximately $4.54 trillion. A $10,000 investment made a decade ago has grown to roughly $126,000 due to an 11.5-fold stock price increase and reinvested dividends. This gain was driven primarily by earnings growth and a significant expansion in valuation multiples from 13x to 36x. While recent fiscal results show strong revenue and earnings growth, future returns will likely depend on business performance rather than multiple expansion.

Cathie Wood's Ark Piled Into Nvidia and Taiwan Semiconductor After Meta's Earnings Miss. Here's What It Signals for Artificial Intelligence (AI) Stocks.

Motley Fool

Cathie Wood's Ark Invest purchased $15 million in Nvidia and $14.7 million in TSMC stock following Meta's earnings report, which highlighted increased AI infrastructure spending. This move signals confidence in sustained AI demand, as Meta's rising capital expenditures drive orders for Nvidia GPUs and subsequent manufacturing by TSMC. With valuations at reasonable levels, the investment reflects a bet on hyperscaler capex continuing to benefit semiconductor infrastructure leaders.

Elon Musk Owns 20% of Tesla, a Stake Worth Roughly $200 Billion. Here's Why His Ownership Level Matters for Shareholders.

Motley Fool

Elon Musk holds roughly 20% of Tesla shares, granting him significant voting power that may supersede shareholder interests. This high insider ownership creates a dynamic where Musk's vision and decisions dominate corporate direction, making investors effectively align with his personal agenda. While this alignment can be beneficial due to his visionary leadership, it also poses risks from his provocative actions, such as political involvement impacting sales. Investors must consider this concentrated control when deciding to buy Tesla stock.

Alphabet CEO Sundar Pichai Just Made a Decision That Could Move Nvidia and Broadcom Stock

Motley Fool

Alphabet reported strong Q2 results, with Google Cloud sales surging 82% to $24.8 billion. CEO Sundar Pichai announced that Alphabet has begun selling its custom AI chips (TPUs) to external customers, a move that could drive new revenue and compete with Nvidia. This development benefits Broadcom, which designs TPUs for Alphabet under a long-term agreement. Despite high capital expenditures impacting free cash flow, Alphabet's dominant position in digital advertising and cloud growth supports its long-term outlook.

Jeff Bezos' Amazon Just Raised Its AI Spending to $220 Billion for 2026. Here's What That Capex Hike Means for Investors.

Motley Fool

Amazon raised its 2026 AI capital expenditure to $220 billion, a $20 billion increase driven by rising memory chip costs. This significant hike highlights the intense demand for AI infrastructure but raises investor concerns about potential overspending and sustainability risks, drawing comparisons to the dot-com bubble era.

The U.S. Economy Just Experienced Its 5th Largest Month of Job Losses Since 2020. Here's Why It's Both Good and Bad News

Motley Fool

The U.S. economy experienced its fifth-largest monthly job loss since 2020 in July, with non-farm payrolls declining by 23,000. This unexpected weakness has shifted market expectations from a Fed rate hike to holding rates steady, as a softer labor market may curb inflation. However, the report also signals economic fragility, leaving the Fed's September decision dependent on upcoming inflation and employment data.

Satya Nadella Said Microsoft's Own AI Chips Are Driving Up to 40% Efficiency Gains. Here's Why That Matters for Investors

Motley Fool

Microsoft reported strong Q4 FY2026 results, with Azure sales growing 43% YoY. CEO Satya Nadella highlighted that custom AI chips deliver 40% better performance per watt compared to external suppliers like Nvidia. This efficiency lowers operating costs and boosts cloud margins. With a $678 billion cloud backlog and rising AI infrastructure spending, Microsoft is positioned for sustained medium-term growth, despite its stock lagging the broader market this year.

Meet the Low-Cost Vanguard ETF That Just Gained 11% Over 4 Days, Thanks to a Combined 33% Weighting in Nvidia, Microsoft, Micron, and Broadcom. Here's Why It's Still a Top Buy Now.

Motley Fool

The Vanguard Information Technology ETF (VGT) gained 11% over four days, driven by a 33% combined weighting in Nvidia, Microsoft, Micron, and Broadcom. Despite recent market volatility and high valuation metrics like a 36.2 P/E ratio, the article argues VGT remains a top buy due to strong earnings growth potential from its megacap holdings, particularly following Microsoft's positive earnings report.

Amazon CEO Andy Jassy Just Gave Investors 220 Billion Reasons to Buy Micron Stock

Motley Fool

Amazon CEO Andy Jassy raised the company's 2026 capital expenditure forecast to $220 billion, citing high costs for AI memory as a key driver. This surge in spending highlights a persistent supply shortage for high-bandwidth memory (HBM) and DRAM, benefiting suppliers like Micron Technology. The article suggests that sustained hyperscaler demand supports higher prices and robust order books for memory manufacturers, strengthening the investment case for Micron stock amidst the ongoing AI infrastructure boom.

ABNB: Red-Hot World Cup Ignites Travel & Hospitality

Dolphin Research

Global alt-stay leader $Airbnb(ABNB.US) released FY26 Q2 results early on Aug 7. Helped by the World Cup, the print was solid, with growth in gross booking value and nights beating estimates.

Management also issued upbeat guidance for next quarter, pointing to sustained strength in travel and lodging in the mid term. 1) Nights growth accelerated, underscoring the recovery in travel demand.

Focusing on the key operating metric, gross booking value (GBV) grew 16% in nominal terms this quarter, which appears to be a deceleration. Ex-FX growth was 15%...

MNST: Valuation in Overdrive — How Long Can the Honeymoon Last?

Dolphin Research

A standout set of results, powered by a banner year for product innovation

ABNB (Trans): FY guide raised on both top- and bottom-line; Q3 margin slightly down

Dolphin Research

Q2 revenue rose 17% YoY to $3.6bn, topping the high end of guidance. Full-year revenue growth guidance was raised from low-to-mid-teens to at least mid-teens, and the Adj. EBITDA margin outlook from 35% to at least 35.5%.

However, Q3 margin will edge down YoY given a faster investment cadence. For the year, the take rate is guided to be only flat vs. 2025. Management will prioritize an AI-native overhaul and the hotels biz in the next phase.

MNST (Trans): Net sales top $2.5bn; U.S. price hike in Q4

Dolphin Research

Q2 net sales topped $2.5bn, reaching $2.54bn (+20.2% YoY) with double-digit growth across all regions. However, higher freight and stepped-up marketing lifted the selling expense ratio to 10.6%, and Adj. OP rose only 13.3%, lagging revenue. The company plans selective price increases in the U.S. in Q4 2026.

From AI gloom to ad breakout, U finally stands tall

Dolphin Research

Hi, this is Dolphin Research. Q2 was a rare bright spot for $Unity Software(U.US), delivering a clean beat and showcasing progress at the post-reset inflection. Let's get to it.

1) Grow re-accelerated and beat. How much was self-driven vs. external?

In recent quarters, the single most important swing factor for Unity’s print has been QoQ growth in its Grow segment. Both last quarter and this quarter, the buy-side was looking for Vector to grow >15% QoQ...

Just Announced: SpaceX and Nvidia Teaming Up on New Orbital AI Data Center

Motley Fool

SpaceX and Nvidia announced a partnership to design the compute payload for Starmind, an orbital AI data center network. The first satellite will exclusively use Nvidia's Vera CPUs and Rubin GPUs. While Musk claims launches could start next year, analysts caution that the ambitious timeline is likely aspirational and significant financial impact is years away.

MELI Still Split: E-comm Burns Cash, Lending Tightens?

Dolphin Research

Often dubbed the Latin American Alibaba — Mercado Libre (hereafter $Mercadolibre(MELI.US)) — released Q2 results on the morning of Aug. 6. Headline revenue growth was near 50% YoY, well above expectations.

However, OP was still down 17% YoY, roughly in line with estimates. Growth without profit remains an issue, and the market still dislikes that setup.

1) Logistics investment is paying off, with GMV continuing to grow at a rapid clip. E-commerce GMV rose ~44% YoY this quarter...