PRICE220.78
DAY+1.48%
1M~+8%
YTD+15.50%
MCAP$5.331T
THESISQ2 $96.2B and Q3 $108B, China still at zero. Vera Rubin in production. The sequential dollar add accelerated. That is still the scarce AI compute platform.
RISKA GM slide past 74%, a hyperscaler digest, or the working-capital/debt raise becoming the tape.
JPMOverweight / $320 (Harlan Sur; from $280, 27 Aug 2026). FY28 growth framework ~70% y/y. Finvaulta / Finbold.
GSPT $300 (James Schneider; from $285, 27 Aug 2026). Rating wording conflicts: MarketScreener/Bitget say Buy; Finbold says Neutral/range-bound. PT raise is verified; rating not reconciled from the primary note.
LASTQ2 FY27 (ended 26 Jul), reported 26 Aug 2026 AMC: rev $96.221B +18% q/q +106% y/y vs guide $91.0B ±2% and LSEG ~$92.2B. DC $89.0B +117% y/y.
NEXTlate Nov 2026 (Q3 FY27, est.)
PRICE316.85
DAY-0.89%
1M-5.86%
YTD+13.80%
MCAP$4.624T
THESISiPhone 17 cycle and Services still print records, but the stock already paid for that into $5T and then ate a soft 9–11% Q4 guide plus a 1 Sep CEO handoff.
RISKMemory/supply constraints and a Ternus day-one product/AI miss into the Oct print; 35x trailing leaves little room if September growth slips again.
JPMOverweight / $340 (31 Jul 2026; cut from $345). Demand cycle 'more momentum than investors anticipated'; supply/memory offset.
GSBuy / $360 (31 Jul 2026; cut from $370 after a pre-print lift from $340).
LASTFY Q3 (ended 27 Jun 2026), reported 30 Jul 2026: rev $109.4B vs $108.65B LSEG (CNBC), GAAP EPS $2.02 (incl. $0.11 tariff rebate);
NEXT29 Oct 2026 (est.; Yahoo/Public.com). One calendar (FXEmpire) says 28 Oct — treat as late-Oct, not confirmed by Apple IR.
VS STREETJPM Overweight · GS Buy
PRICE335.41
DAY-2.18%
1M~-5%
YTD+9.24%
MCAP$4.102T
THESISCloud just ran 82% with 35.6% op. margin and a $514B backlog; 17x trailing is the cheapest quality compounder in the top 10 after a capex/talent scare.
RISKFCF stays suppressed if 2026 capex sticks at $195–205B and 2027 'increases significantly', while Search AI disruption or more Gemini talent leakage hits the multiple.
JPMOverweight / $420 (23 Jul 2026; lowered from $460). Yahoo quote page confirms same mark.
GSBuy / $435 (Eric Sheridan, 23 Jul 2026; $440 → $435). Some secondary write-ups say 'Strong Buy' — GS scale is Buy; we use Buy / $435.
LASTQ2 2026, reported 22 Jul 2026: rev $119.8B vs $116.93B LSEG; adj EPS $2.85 vs $2.89 LSEG (miss); GAAP EPS $9.11 incl. ~$99B equity-securities gain.
NEXT28 Oct 2026 (Yahoo)
PRICE507.29
DAY-1.22%
1M+21.36%
YTD+0.44%
MCAP$3.766T
THESISAzure re-accelerated to 43% and Copilot is 30M paid seats, but the stock already ripped ~21% in a month off the print and sits only ~15% below a $570 street average.
RISKCloud gross margin (65% last qtr) and Copilot seat conversion stall while capex stays elevated; a 45% Azure guide that doesn't show up in FCF keeps the multiple capped.
JPMOverweight / $625 December 2027 target (Samik Chatterjee, 13 Aug 2026; raised from $550). This is a 2027 horizon, not a standard 12-month PT.
GSBuy / $640 and added to U.S. Conviction List (3 Aug 2026; PT raised from $610).
LASTFY Q4 (ended 30 Jun 2026), reported 29 Jul 2026: rev $90.01B vs $87.62B LSEG; adj EPS $4.74 vs $4.24. Azure +43% (cc +43%) vs ~40% expected.
NEXT28 Oct 2026 (est.; Yahoo)
VS STREETJPM Overweight · GS Buy
PRICE259.77
DAY-2.50%
1M~-4.2%
YTD+12.28%
MCAP$2.801T
THESISAWS just printed its fastest growth since 2021 (37% / $42.2B) and AI+chips are already >$25B run-rate each; 21x trailing is not a rich multiple for that inflection.
RISK$220B 2026 capex plus a light Q3 sales guide ($197–202B vs $204B Street) if retail North America margins don't hold while AWS soaks capital.
JPMOverweight / $365 (Doug Anmuth; raised from $330 after Q2, late Jul / ~1 Aug 2026). Kept on Best Idea list per secondary notes.
GSBuy / $375 (Eric Sheridan, 10 Aug 2026; $335 → $375). Confirmed on StockAnalysis analyst table.
LASTQ2 2026, reported 30 Jul 2026: rev $200.61B vs $196.47B LSEG; adj EPS $1.97 vs $1.82. GAAP EPS $5.75 incl. $53.4B Anthropic-related gain.
NEXT29 Oct 2026 (est.; Yahoo)
PRICE415.32
DAY-0.53%
1M+4.25%
YTD+40.71%
MCAP$2.154 T
THESISThe only foundry that can actually ship the AI stack: Q2 $40.2B at 67.7% GM, FY26 growth raised to 'slightly above 40%', 2nm ramping now.
RISKSingle-island geopolitical risk plus customer concentration (NVDA/AAPL/AVGO); a US-China or Taiwan shock, or a 2nm yield slip, is the only thing that breaks this in 2–3 quarters.
JPMOverweight / NT$2,400 end-2026 target (raised around Q1 2026, Futunn/Zhitong). Earlier 7 Jan 2026 mark was OW / NT$2,100. No verified post-16 Jul 2026 JPM note found.
GSConviction Buy / NT$2,330 (4 Jan 2026; from NT$1,720). No verified post-16 Jul 2026 GS mark found — treat as stale vs 2,410 TWD last.
LASTQ2 2026, reported 16 Jul 2026: rev NT$1,270.38B / $40.20B (high end of $39.0–40.2B guide) vs ~$39.94B Street;
NEXT15 Oct 2026 (Yahoo)
PRICE143.69
DAY+1.55%
1M+10.24%
YTDListed 12 Jun 2026. Yahoo chart YTD/list…
MCAP$1.894 T
THESIS$1.8T on $23B TTM sales, still losing money, $18B of quarterly capex and a lockup that just dumped ~912M shares — this is a story stock, not a 12-month equity.
RISKIf Starlink cash and the AI/Grok/Colossus narrative re-rate the multiple before the next unlock, a Sell is early; the bull case is $100B ARR pulled into 2027.
JPMOverweight / $240 (Doug Anmuth, ~6–7 Aug 2026; raised from $225 after Q2).
GSBuy / $220 (Eric Sheridan; raised from $205 after Q2, ~early Aug 2026).
LASTQ2 2026, first print as a public co., 4 Aug 2026: rev $7.81B vs $6.93B LSEG (+92% y/y); LPS -$0.09 vs -$0.26 LSEG; net loss $541M.
NEXT3 Nov 2026 (est.; Yahoo)
VS STREETJPM Overweight · GS Buy
PRICE370.34
DAY+0.42%
1M-5.04%
YTD+6.44%
MCAP$1.761T
THESISCustom AI (Google TPU and the Anthropic/OpenAI book) is real and FY26 AI semis are guided ~$56B, but they already refused to raise the FY27 >$100B AI number and the stock is a financing story into 2 Sep.
RISKCustomer concentration plus a $70–100B SPV debt package (Bloomberg/CNBC, 20–21 Aug) that puts leverage and Anthropic counterparty risk on the equity if the ASIC book slips.
JPMOverweight / $580 (Harlan Sur; raised from $500 after Q2, Jun 2026; reiterated mid-Jun). No verified Aug update found.
GSBuy / $525 (18 Aug 2026 note; FY27 AI rev model $133B, 12% above consensus).
LASTFY Q2 (ended 3 May 2026), reported 3 Jun 2026: rev $22.19B vs $22.27B LSEG (slight miss); adj EPS $2.44 vs $2.40 LSEG. AI semis $10.8B (+143%).
NEXT2 Sep 2026 AMC (company IR, confirmed)
VS STREETJPM Overweight · GS Buy
PRICE6.94
DAY-0.31%
1M-1.49%
YTD+15.07%
MCAP$1.679 T
THESISHormuz reroute plus $108/bbl realized crude just paid a $33.4B quarter and a ~5% dividend, but volumes are shut-in and the equity is a war-premium, not a growth compounder.
RISKA ceasefire / Hormuz reopening (Nasser: up to 18 months to refill inventories even then) collapses the $108 crude print faster than the 5% yield can compensate.
JPMBuy / SAR 30 (latest verified around Q1 2026, Economy Middle East citing the post-Q1 note). No verified post-4 Aug 2026 JPM mark found.
GSBuy / SAR 32 (12 May 2026; raised from SAR 29). No verified post-4 Aug 2026 GS mark found.
LASTQ2 2026, reported 4 Aug 2026: adj net income SAR 125.2B / $33.4B vs ~$31.59B consensus (+33% y/y). Revenue/other income $139.1B vs $108.6B y/y.
NEXT3 Nov 2026 (Yahoo)
VS STREETJPM Buy · GS Buy
PRICE367.95
DAY+5.51%
1M-3.63%
YTD-18.80%
MCAP$1.453T
THESISThe auto business is growing units and shrinking profit (adj $0.33 vs $0.51) while the $1.44T multiple is robotaxi/Optimus — 2.4M paid robotaxi miles is not a $1.4T business yet.
RISKNevada 5,000-robotaxi permit plus Cybercab/Semi ramps turn the autonomy story into revenue before the multiple compresses; we are short the calendar, not the technology.
JPMNeutral / $445 (Rajat Gupta; upgraded from UW in Jun 2026 at $475, later $445. MarketScreener 19 Aug 2026: Neutral, PT remains $445).
GSNeutral / $375 (latest verified; Q2-period note lifting delivery forecast, still Neutral). No later verified GS mark found.
LASTQ2 2026, reported 22 Jul 2026: rev $28.24B vs $25.71B CNBC / $26.42B FactSet; adj EPS $0.33 vs $0.51 CNBC / $0.53 FactSet. GAAP NI $1.11B / $0.32.
NEXT21 Oct 2026 (Yahoo)
VS STREETJPM Neutral · GS Neutral
PRICE572.34
DAY-0.98%
1M—
YTD—
MCAP$1.458 T
THESISAds still print ($60.8B, +28%) but operating margin fell 31% from 43%, FCF was $784m against $31.9B of operating cash, and 2026 capex is $130–145B. That is a financing story, not a 12-month Buy.
RISKAnother capex raise or a youth-safety verdict that hits the ad engine before FCF turns.
JPMNeutral / $640 (30 Jul 2026; cut from $725). Verified MarketScreener.
GSBuy / $725 (30 Jul 2026; cut from $815 after Q2). Verified TipRanks/The Fly.
LASTQ2 2026, 29 Jul: rev $60.80B (+28%), dil. EPS $6.18 vs $7.14 y/y, op. income $18.8B, margin 31%. DAP 3.60B. Q3 rev guide $61–64B. FY capex $130–145B.
NEXTlate Oct 2026 (est.)
VS STREETGS Buy
#12
005930.KS
Samsung Electronics
Hold
PRICE189.91
DAY+0.10%
1M—
YTD—
MCAP$1.247 T
THESISMemory is throwing off record profit (2Q OP ₩89.5tn) but Monday's tape sold the ₩90–110tn return because it is cash dividend first, no cancel, rest parked until Jan 2027. That is not how you buy a peak-cycle name the morning after a governance miss.
RISKHBM/DRAM cycle turns, or January's leftover return is still light versus SK Hynix's ₩40tn buyback-and-cancel.
JPMOverweight / ₩400,000 (cut from ₩480,000; multiple 8x→6x, EPS estimates actually raised). Secondary research note; treat as last verified, not a fresh Monday mark.
GSBuy (reiterated after the Korea memory pullback; The 720 / Aug). PT not found in the notes we could verify.
LASTQ2 2026: rev ₩171.5tn (record, +28% q/q), OP ₩89.5tn (record), EPS ₩10,849. Samsung Newsroom.
NEXTlate Oct 2026 (est.)
VS STREETJPM Overweight · GS Buy
PRICE1,156.73
DAY-1.52%
1M—
YTD—
MCAP$1.031T
THESISMounjaro+Zepbound still compounding (Q2 rev $23.0B +48%, FY guide lifted to $85–87B) and retatrutide's Phase 3 obesity package is complete for a 1Q27 BLA. That is the cleanest growth equity in the top 20.
RISKRealized price keeps falling (US −3%, OUS −36% on China NRDL) faster than volume, or incretin competition/IRA pressure cuts the multiple.
JPMnot found
GSnot found
LASTQ2 2026, 5 Aug: rev $22.97B +48%, reported EPS $7.94 / non-GAAP $8.38 (incl. $3.03 IPR&D). Mounjaro $9.94B +91%, Zepbound $4.93B +46%.
NEXTlate Oct 2026 (est.)
PRICE958.73
DAY+2.77%
1M—
YTD—
MCAP$1.082T
THESISThis is the US listing of the memory super-cycle: FQ3 rev $41.46B, non-GAAP EPS $25.11, FQ4 guide $50B ±$1B at ~86% GM. SK Hynix is cheaper; Micron is the one you can actually buy in size in New York.
RISKThe cycle rolls over, or CHIPS-act limits keep buybacks capped while Korea pays cash.
JPMnot found
GSnot found
LASTFQ3 (ended 28 May 2026), 24 Jun: rev $41.46B vs $23.86B q/q / $9.30B y/y. GAAP EPS $24.67, non-GAAP $25.11. FCF $18.3B.
NEXTFQ4 print due late Sep 2026 (est.)
PRICE504.03
DAY-0.19%
1M—
YTD—
MCAP$1.078 T
THESISA $1.06T compounding vehicle, not a 12-month alpha name. No edge versus the cash pile and the operating companies from here.
RISKA risk-off tape that re-rates the equity portfolio, or capital-allocation surprise after Buffett.
JPMnot found
GSnot found
LASTnot found this morning (Q2 2026 8-K not pulled)
NEXTnot found
PRICE356.02
DAY-0.45%
1M—
YTD—
MCAP$946.36 B
THESISThe machine still prints (2Q NI $16.9B / $6.14 ex Visa+equity gains, ROTCE 23% ex items, CET1 14.1%). At $935B you are paying for quality, not a missized 12-month dislocation.
RISKCredit costs, NII, or a genuine risk-off in markets revenue. Reported $7.70 EPS was juice from a $4.6B Visa gain.
JPMnot found (self-covered)
GSnot found
LASTQ2 2026, 14 Jul: NI $21.2B, EPS $7.70; ex significant items NI $16.9B, EPS $6.14, ROTCE 23%. Managed rev $58.0B. Markets $12.1B +35% y/y.
NEXTmid-Oct 2026 (est.)
PRICE1,238.00
DAY+1.37%
1M—
YTD—
MCAP$879.04 B
THESISHBM leader with a 76% operating margin, a ₩40tn buyback-and-cancel already on the tape, and JPM OW ₩2.75mn. Samsung just showed you what a weaker return looks like. Buy the one that is actually retiring stock.
RISKHBM pricing/LTA scare, or the ₩54tn capex headline morphs into a real 2026–27 overbuild.
JPMOverweight / ₩2,750,000 (9 Aug 2026 note; said HBM discount chatter was overblown, returns landing ahead of schedule).
GSBuy (reiterated with Samsung after the Korea memory pullback). PT not found in the notes we could verify.
LASTQ2 2026, 29 Jul: rev ₩79.32tn +51% q/q / +257% y/y, OP ₩60.54tn, OP margin 76%, NI ₩93.92tn. Company newsroom.
NEXTlate Oct 2026 (est.)
PRICE104.87
DAY+1.73%
1M—
YTD—
MCAP$832.01 B
THESISQuality compounder that just printed (US comps +2.6%, global eComm +23%) and raised FY. JPM kept Buy and cut the PT to $125 from $137 the same day. At $104 you are not stolen goods after a beat.
RISKUS traffic/health-and-wellness drag, or a consumer step-down that hits comps before the eComm mix pays.
JPMBuy / $125 (21 Aug 2026; Horvers, cut from $137, rating kept). MarketScreener.
GSnot found
LASTQ2 FY27, 20 Aug 2026: US comps +2.6% (80bp H&W headwind), global eComm +23%. Q3 net sales +3.0–3.75%, adj. OI +2.0–4.0%.
NEXTmid-Nov 2026 (est.)
VS STREETJPM Buy
#19
AMD
Advanced Micro Devices
Hold
PRICE470.72
DAY+1.10%
1M—
YTD—
MCAP$768.43 B
THESISData center is real ($6.7B, +107%) and Q3 is guided $13.0B ±$0.3B. The stock is still a #2 GPU at $773B. JPM is Neutral $550. We will not chase a GS Buy after the print.
RISKMI450/Helios share vs NVDA, or a Q3 $13B that does not convert into 2027 rack-scale wins.
JPMNeutral / $550 (7 Aug 2026; raised from $385). MarketBeat/Benzinga.
GSBuy / $640 cited in July 2026 secondary notes. Treat as last verified, not a post-print confirm.
LASTQ2 2026, 4 Aug: rev $11.54B +50% y/y, GAAP EPS $1.38 / non-GAAP $1.66. Data center $6.7B +107%. Q3 rev ~$13B ±$300m, non-GAAP GM ~56%. Company IR.
NEXTearly Nov 2026 (est.)
VS STREETGS Buy
PRICE379.37
DAY-0.58%
1M—
YTD—
MCAP$708.30 B
THESISThe payments compounder at $693B. No verified JPM/GS mark this morning and no fresh print on the weekend. Quality, not a call.
RISKCross-border, debit mix, or a regulatory hit to network fees.
JPMnot found
GSnot found
LASTnot found this morning
NEXTnot found
PRICE160.95
DAY+2.71%
1M—
YTD—
MCAP$661.81B
THESIS2Q printed $14.5B / $3.48 ($14.7B / $3.52 adj) on high crude and the highest production in 20+ years. Same tape as Aramco: you are long $100 oil and a war, not a growth equity.
RISKA ceasefire / crude mean-reversion takes the $164 print with it.
JPMnot found
GSnot found
LASTQ2 2026, 31 Jul: GAAP NI $14.525B / $3.48; adj $14.680B / $3.52. Upstream $7.93B. Revenue $114.5B. Company 8-K.
NEXTlate Oct 2026 (est.)
PRICE1,696.00
DAY-0.01%
1M—
YTD—
MCAP$651.43 B
THESISThe only EUV machine. Q2 €9.3B / 54% GM beat, Q3 €11–12B, FY lifted to €43–45B. Memory capex (MU $50B, Samsung) is the order book. GS Buy €2,000.
RISKExport controls into China, or a memory-capex air pocket after the Korea/CXMT scare.
JPMnot found
GSBuy / €2,000 (raised from €1,770 on Micron/Samsung capex revisions; 43x 2027E). Secondary 2026 note.
LASTQ2 2026: net sales €9.326B, GM 54.0%, NI €2.918B, EPS €7.59. 86 new lithography systems. Q3 sales €11.0–12.0B, GM 55–57%.
NEXTmid-Oct 2026 (est.)
PRICE265.85
DAY-0.82%
1M—
YTD—
MCAP$640.67 B
THESISQ2 $25.3B, raised to first-ever $100B+ year. Quality compounder. GS took it off the US Conviction List on 3 Aug (still Buy, allocation not a downgrade). No 12-month dislocation.
RISKPipeline/legal (talc, etc.) or a growth slip that knocks the $100B print.
JPMnot found
GSBuy, removed from US Conviction List 3 Aug 2026 (committee rebalance with AVGO/DKS/NOW; not a fundamental cut).
LASTQ2 2026, 15 Jul: sales $25.31B +6.6%, EPS $2.27 / adj $2.90. Raised FY reported sales to $100.8–101.4B, adj EPS $11.60–11.75. Company IR.
NEXTmid-Oct 2026 (est.)
VS STREETGS Buy
#24
688825.SS
CXMT (ChangXin Memory)
Sell
PRICE8.44
DAY-2.28%
1M—
YTD—
MCAP$597.43 B
THESIS$590B on a July STAR IPO that went +466% from ₩8.66. Q1 profit is the DRAM cycle, not HBM. No iPhone qualification. This is the stock the MU complex sold yesterday. We own Micron and Hynix instead.
RISKApple China DRAM actually ramps, or the cycle stays this tight through 2027 and the multiple never compresses.
JPMnot found (JPM was on the IPO syndicate per Reuters wrap; no post-listing rating found)
GSnot found (GS was on the IPO syndicate per Reuters wrap; no post-listing rating found)
LASTQ1 2026 (prospectus): revenue RMB 50.8B (+~700% y/y), net profit RMB 25.0B vs a year-ago loss. CNBC: op. profit RMB 35.43B.
NEXTnot found
PRICE589.31
DAY-1.01%
1M—
YTD—
MCAP$516.24 B
THESISQ2 $9.3B +14% / adj $5.04 vs $4.77. Same call as Visa: quality network, 60%+ margin, no 12-month dislocation at $525B.
RISKCross-border, debit mix, or a fee-regulation hit.
JPMnot found
GSnot found
LASTQ2 2026, ~30 Jul: net rev $9.3B +14% (12% ccy) vs ~$9.06B Street, adj EPS $5.04 vs $4.77. Op. margin 60.2%. Company / Yahoo.
NEXTlate Oct 2026 (est.)
PRICE57.19
DAY-1.33%
1M—
YTD—
MCAP$515.39 B
THESISQ2 12 Aug: revenue RMB 204.8B +11% beat, IFRS profit miss vs street. Games +17%, ads +22%. Capex ~RMB 53B, FCF −RMB 13.8B (ex-prepay +RMB 37.6B). JPM is OW HK$690 through the AI spend. We wait for the spend to show up in profit, not pay $515B for a 2026 trough.
RISKAI capex stays at RMB 200B with no ad/gaming offset, or WeChat AI never monetizes.
JPMOverweight / HK$690 (13 Aug 2026 post-print; secondary wrap, not a JPM PDF). Sees 2026 as EPS trough (~2% growth), 10–15% in 2027.
GSnot found
LASTQ2 2026, 12 Aug: revenue RMB 204.8B +11% (CNBC: vs RMB 202.2B). IFRS NI to holders RMB 56.0B (CNBC: vs RMB 61.8B).
NEXTmid-Nov 2026 (est.)
VS STREETJPM Overweight
PRICE256.42
DAY+0.37%
1M—
YTD—
MCAP$453.12 B
THESISQ2 $17.0B +10.2%, GAAP $2.03 / adj $3.65. Immunology cash-flow, Apogee deal in the FY guide. Quality compounder at $467B, not a 12-month dislocation.
RISKApogee dilution, Humira remainder, or IRA.
JPMnot found
GSnot found
LASTQ2 2026, 31 Jul: net rev $16.990B +10.2% reported / +9.5% operational. GAAP EPS $2.03, adj $3.65 (includes $0.17 IPR&D).
NEXTlate Oct 2026 (est.)
PRICE89.51
DAY+0.04%
1M—
YTD—
MCAP$473.15 B
THESISQ2 rev $16.1B +25%, non-GAAP $0.42, but GAAP −$11.0B / −$2.16. JPM is still Underweight ($85). GS Neutral $150. At $87 / $461B the turnaround is in the price, not a 12-month Buy.
RISKFoundry losses stay GAAP-ugly, or server share that just printed does not stick.
JPMUnderweight / $85 (Harlan Sur, 24 Jul 2026; raised from $45 after Q2 cleared by a wide margin). Still UW.
GSNeutral / $150 (initiated 25 Jun 2026, Schneider; reiterated Neutral 23 Jul). Valuation vs NVDA/AVGO/AMD.
LASTQ2 2026: rev $16.1B +25% y/y, GM 40.4%, GAAP EPS −$2.16 / non-GAAP $0.42. Q3 rev $15.8–16.8B, non-GAAP EPS $0.38. Company IR.
NEXTlate Oct 2026 (est.)
VS STREETJPM Underweight
PRICE61.94
DAY-0.61%
1M—
YTD—
MCAP$433.13 B
THESISQ2 $31.7B / $1.19 vs ~$1.12. A clean bank print. At $436B you own NII and a 12-month hold, not a dislocation.
RISKNII, credit, or a rates path that flattens the curve they need.
JPMnot found
GSnot found
LASTQ2 2026: rev ~$31.7B vs ~$30.6–30.8B, EPS $1.19 vs ~$1.12–1.13. Secondary scorecard (LSEG consensus vs actual).
NEXTmid-Oct 2026 (est.)
PRICE110.49
DAY+0.51%
1M—
YTD—
MCAP$435.48 B
THESISFY26 Q4 $17.3B +18%, GAAP $0.97 / non-GAAP $1.22. Full year $63.3B +12%. JPM OW $150 after the print; GS last Neutral $125 (3 Jun). At $110 / $434B the AI-networking beat is in the tape. Hold, not a chase.
RISKEnterprise spend or AI switching share that does not show up in product orders next quarter.
JPMOverweight / $150 (from $145; MarketScreener 13–14 Aug 2026 post-print).
GSNeutral / $125 (from $116, 3 Jun 2026; MarketScreener / MT). No post-print GS note found this morning.
LASTQ4 FY2026 (ended 25 Jul, reported 12 Aug): rev $17.3B +18%, GAAP NI $3.9B / $0.97, non-GAAP $4.9B / $1.22.
NEXTmid-Nov 2026 (Q1 FY27, est.)
VS STREETJPM Overweight
PRICE943.89
DAY-0.17%
1M—
YTD—
MCAP$418.59 B
THESISQ3 in-line $4.93, comps 6.6% ex-gas/FX. Q4 prints 24 Sep. Quality membership machine at ~48x trailing. JPM is OW $1,100. The multiple is the 12-month problem, not the business.
RISKA sub-6.5% ex-gas comp on 24 Sep, or the 48x multiple compressing if traffic slips.
JPMOverweight / $1,100 (from $1,110; TheFly 9 Jul 2026).
GSnot found
LASTQ3 FY2026 (ended 10 May), 28 May: net sales $69.15B +11.6%, NI $2.19B / $4.93 (in line). Membership fee income $1.37B +10.7%.
NEXT24 Sep 2026 AMC (confirmed). Street ~$6.43–6.55 EPS vs $5.87 year-ago.
VS STREETJPM Overweight
PRICE149.12
DAY-1.15%
1M—
YTD~−22%
MCAP$429.53 B
THESISQ4 cloud infra +93% to $5.8B, RPO $638B, FY27 $90B guide. Stock $145 after a capex/FCF scare (JPM still OW, PT cut to $200). The spend is the bear case and it is in the price.
RISK~$40B FY27 capex / annual ~$20B raise that keeps FCF negative and the multiple capped.
JPMOverweight / $200 (Samik Chatterjee; cut from $210 on 13 Aug 2026). Still sees ~30%+ upside; capex/financing the drag.
GSnot found
LASTQ4 FY2026, 10 Jun: rev $19.2B +21%, non-GAAP EPS $2.11 (ex-gains $2.03). Cloud infra $5.8B +93%.
NEXT10 Sep 2026 (company, Q1 FY27).
PRICE186.38
DAY+0.05%
1M—
YTD—
MCAP$447.88 B
THESISQ2 $1.935B +93%, adj $0.41 vs $0.34, FY lifted to $8.15B. Real growth. $415B is still a 50x-sales tape. GS Neutral $204. We wait.
RISKCommercial deceleration or a multiple reset if AI software comps re-rate.
JPMnot found
GSNeutral / $204 (from $183, 4 Aug 2026; MarketScreener MT). 60x fwd FCF, down from 65x on peer multiples.
LASTQ2 2026, 3 Aug: rev $1.935B +93% vs ~$1.812B, adj/GAAP EPS $0.41 vs $0.34. US comm $764M +149%. Adj op. margin 62%. FY rev $8.150–8.158B.
NEXTearly Nov 2026 (est.)
#33
601939.SS
China Construction Bank
Hold
PRICE1.63
DAY+0.00%
1M—
YTD—
MCAP$427.46 B
THESISQ1 NI RMB 86.8B +3.7%, NIM 1.36%, NPL 1.31%. A $413B Chinese SOE bank. No H1 print yet. Not a 12-month call.
RISKChina credit cycle, NIM, or property.
JPMnot found
GSnot found
LASTH1 2026, 28 Aug: attrib. NI RMB 169.564B +4.62% (from 162.076); group NI RMB 171.677B +5.56%. NII +8.46%. NIM 1.37% (−3bp y/y).
NEXTlate Oct 2026 (Q3, est.)
PRICE88.67
DAY-1.10%
1M—
YTD—
MCAP$381.50 B
THESISQ2 $13.4B +7% / organic +6%, raised FY. JPM OW $96, GS Neutral $86. Stock $92 sits between them. Quality, not a dislocation.
RISKVolume, concentrate timing, or FX that knocks the 5% organic guide.
JPMOverweight / $96 (from $90, 29 Jul 2026; Ticker Report wrap).
GSNeutral / $86 (from $82, 28 Jul 2026; Ticker Report wrap).
LASTQ2 2026, 28 Jul: net rev $13.4B +7%, organic +6% (concentrate +4, price/mix +2). GAAP EPS $1.03 +16%, comparable $0.97 +11%.
NEXTlate Oct 2026 (est.)
VS STREETJPM Overweight
PRICE301.49
DAY-0.14%
1M—
YTD—
MCAP$377.26 B
THESISJune Q $6.72B / non-GAAP $1.82 vs $1.68. Sept guide $8.1B ±$0.4B vs street ~$7.1B. Memory WFE + HBM etch. JPM OW $340, GS Buy $380. Same tape as ASML.
RISKA memory-capex air pocket (Korea/CXMT) or China export controls.
JPMOverweight / $340 (Harlan Sur; from $315 post-print, secondary).
GSBuy / $380 (from $290, 6 Jul 2026; MarketScreener). Jim Schneider on the call. No later GS PT found.
LASTQ4 FY2026 (ended 28 Jun), 29 Jul: rev $6.72B vs ~$6.67B, GAAP EPS $1.81 / non-GAAP $1.82 vs $1.68. GM 51.7%. FY26 rev $23.2B, GAAP EPS $5.76.
NEXTlate Oct 2026 (est.)
PRICE206.14
DAY+2.12%
1M—
YTD—
MCAP$404.36B
THESISQ2 $12.1B / $6.11, production +20% on Hess. Same call as XOM/Aramco: you are long $100 oil and a war, plus a 20-year Microsoft power PPA. Not a growth equity.
RISKA ceasefire / crude mean-reversion. Hess integration.
JPMnot found
GSnot found
LASTQ2 2026, 31 Jul: GAAP $12.1B / $6.11, adj $12.0B / $6.06. Production +20% y/y (Hess + Permian + GoA).
NEXTlate Oct 2026 (est.)
PRICE147.76
DAY-0.40%
1M—
YTD~+47%
MCAP$364.54 B
THESIS19 Aug Phase 3 INTerpath-001: intismeran + Keytruda beat Keytruda alone on RFS/DMFS in melanoma. That is the Keytruda-cliff bridge. Q2 $16.6B +5%, sales guide up. GS Buy $160. JPM OW $140 is stale vs $156.
RISKOS not in yet, 50/50 economics with Moderna, and Keytruda LOE in 2028 still the P&L.
JPMOverweight / $140 (from $135, 13 Jul 2026; MarketBeat). Below spot after the vaccine move; no post-19 Aug JPM note found.
GSBuy / $160 (from $140, ~21 Aug 2026; MarketBeat/Benzinga). Still Buy through the melanoma print.
LASTQ2 2026, 4 Aug: sales $16.61B +5%. GAAP NI −$1.34B / −$0.54 on Terns $5.7B R&D charge. FY sales $66.3–67.3B (raised).
NEXTlate Oct 2026 (est.)
PRICE458.39
DAY-0.71%
1M—
YTD—
MCAP$363.77 B
THESISQ3 $9.12B / non-GAAP $3.50. Next-Q guide $10.25B vs street ~$9.7B. GS Conviction Buy $670, JPM OW $660. Stock $480. Best WFE name on this tape.
RISKChina (30% of sales) export controls, or a 2027 WFE miss vs GS's $218B call.
JPMOverweight / $660 (Harlan Sur; from $515, 14 Aug 2026; MarketScreener).
GSBuy / Conviction List / $670 (from $645, 13 Aug 2026; GS note via Finvaulta). Top pick in global WFE.
LASTQ3 FY2026 (ended 26 Jul), 13 Aug: rev $9.12B +25%, GAAP EPS $3.17 / non-GAAP $3.50 +41%. GM 50.3%.
NEXTmid-Nov 2026 (est.)
PRICE445.26
DAY-1.53%
1M—
YTD—
MCAP$354.77 B
THESISH1 sales CHF 30.4B, +6% CER / −2% CHF on the franc. Core EPS +9% CER. Outlook confirmed. Vabysmo US miss in the tape. Quality Swiss pharma, not a 12-month dislocation.
RISKCHF, Vabysmo, or a pipeline miss that knocks the high-single-digit core EPS guide.
JPMnot found
GSnot found
LASTH1 2026, 23 Jul: group sales CHF 30.364B, +6% CER / −2% CHF / +8% USD (in line vs ~CHF 30.31B). Core OP CHF 11.86B +10% CER.
NEXTOct 2026 9M (est.)
PRICE797.47
DAY-0.35%
1M—
YTD—
MCAP$366.57 B
THESISQ2 $20.5B +24% / adj $8.17. Energy and construction volume. JPM OW $1,100 (cut from $1,165). At $822 / $378B you own a cycle, not a 12-month dislocation.
RISKA capex air pocket or oil/construction fade after a 24% growth print.
JPMOverweight / $1,100 (from $1,165, 5 Aug 2026; MarketScreener).
GSnot found
LASTQ2 2026, 4 Aug: sales $20.5B +24% (volume +$3.1B, price +$595M). GAAP EPS $7.77 / adj $8.17 vs $4.72. Adj op. margin 21.9%. OCF $4.4B.
NEXTlate Oct 2026 (est.)
VS STREETJPM Overweight
PRICE335.71
DAY-2.01%
1M—
YTD—
MCAP$348.32 B
THESISQ2 adj rev +24%, adj EPS $2.02, FCF $3.0B. Raised FY op. profit to $10.55–10.75B / adj EPS $7.65–7.85. Services + shop visits. JPM OW $400, GS Buy $410. Stock $354 underperformed the print. That is the 12-month gap.
RISKLEAP/shop-visit execution, or a civil OEM air pocket.
JPMOverweight / $400 (from $335, 20 Jul 2026; MarketScreener / TheFly). Said the stock underperformed a good print.
GSBuy / $410 (from $395, 20 Jul 2026; MarketScreener).
LASTQ2 2026, 16 Jul: GAAP rev $13.3B +21%, adj rev $12.6B +24%. GAAP EPS $2.30 / adj $2.02 +22%. Op. profit $2.7B. FCF $3.0B +43%.
NEXTlate Oct 2026 (est.)
PRICE389.41
DAY-0.90%
1M—
YTD—
MCAP$349.53 B
THESISQ2 adj $6.38 vs ~$4.90, MCR 86.7% vs ~88.5%, FY adj lifted to $19.50–20.00. The medical-cost scare is fading. MS $529. JPM/GS not found. $401 is the recovery, not a chase.
RISKMCR re-widens, or commercial cost trend that knocks the raise.
JPMnot found
GSnot found
LASTQ2 2026, 16 Jul: rev $112.0B vs ~$110.9B. GAAP EPS $6.04 / adj $6.38 vs ~$4.90 LSEG. EBIT $8.0B. MCR 86.7%. OCF $11.1B.
NEXTmid-Oct 2026 (est.)
PRICE103.14
DAY-0.38%
1M—
YTD—
MCAP$353.37 B
THESISH1 PBT $19.5B +23% vs ~$18.9B. Banking NII guide ≥$46B, $1B buyback restarted. A $355B global bank print. Quality, not a dislocation.
RISKCredit (ECL), HK/China, or a rates path that knocks NII.
JPMnot found
GSnot found
LASTH1 2026, 4 Aug: PBT $19.5B +23% (Reuters: vs ~$18.9B). Revenue $37.7B +11%. Diluted EPS $0.85. NIM 1.61%. Banking NII H1 $22.9B.
NEXTlate Oct 2026 (Q3, est.)
#41
601288.SS
Agricultural Bank of China
Hold
PRICE1.04
DAY+0.72%
1M—
YTD—
MCAP$363.02 B
THESISQ1 NI RMB 75.6B +4.8%, NIM 1.26%. Same SOE-bank call as CCB. $354B. Not a 12-month call.
RISKChina credit / property / NIM.
JPMnot found
GSnot found
LASTH1 2026, 28 Aug: group NI RMB 148.062B +5.8%; attrib. RMB 146.381B +4.9%. Rev RMB 410.871B +11.1%; NII RMB 312.244B +10.5%. NIM 1.28% (+2bp vs Q1).
NEXTlate Oct 2026 (Q3, est.)
PRICE81.05
DAY-0.82%
1M—
YTD—
MCAP$337.48 B
THESISQ2 $12.56B (slight miss) / $0.80 vs $0.79. Growth slowed to ~11% FX-neutral. Street cut PTs, kept ratings. JPM OW $85, GS Buy $94. Stock $81. We sit with the multiple reset, not chase the old $118.
RISKEngagement / ads that do not re-accelerate, or another guide that looks like more of the same 11%.
JPMOverweight / $85 (from $118, 17 Jul 2026; Gate / Investing.com wraps).
GSBuy / $94 (from $110, 17 Jul 2026; Gate wrap). Pre-print Sheridan had already cut $120→$110.
LASTQ2 2026, 16 Jul: rev $12.56B +13% vs ~$12.59B, EPS $0.80 vs $0.79. NI $3.40B. FY rev narrowed to $51.0–51.4B. Q3 rev +12% reported / +11% FX-n.
NEXTmid-Oct 2026 (est.)
VS STREETJPM Overweight · GS Buy
PRICE145.12
DAY+0.93%
1M—
YTD—
MCAP$337.06 B
THESISFY26 $87.0B +3%, organic +1%, core EPS $6.89 +1%. FY27 core in-line to +3%. JPM OW $162. Stock $145. A staple with no 12-month dislocation.
RISKVolume stays zero and the multiple compresses further.
JPMOverweight / $162 (from $164, 16 Jul 2026; TickerNerd).
GSnot found
LASTFY2026 / Q4, 29 Jul: FY net sales $87.0B +3% (FX +2, price +1, volume/mix 0). Organic +1%. Diluted EPS $6.62 +2%, core $6.89 +1%.
NEXTlate Oct 2026 (Q1 FY27, est.)
VS STREETJPM Overweight
PRICE213.32
DAY-0.68%
1M—
YTD—
MCAP$335.03 B
THESISQ2 record $21.3B / $3.46 vs $2.94 on equities +69%. Same tape as JPM/BAC: a clean bank print at $336B, not a dislocation.
RISKEquities/IB fade, or a rates path that hits wealth NII.
JPMnot found
GSnot found
LASTQ2 2026, 15 Jul: rev $21.3B vs ~$19.64B, EPS $3.46 vs $2.94. NI $5.6B, ROTCE 26.6%. IS $11.0B (equities strength). WM $8.9B, 30.5% margin.
NEXTmid-Oct 2026 (est.)
PRICE0.97
DAY+0.13%
1M—
YTD—
MCAP$344.61 B
THESISQ1 NI ~RMB 87–88B, +~3–4%. JPM Buy HK$8.40, GS Hold HK$6.96. We sit with GS on a $335B SOE bank.
RISKChina credit / NIM / property.
JPMBuy / HK$8.40 (13 Jul 2026; secondary wrap).
GSHold / HK$6.96 (1 May 2026; secondary wrap).
LASTH1 2026, 28 Aug: group NI RMB 176.475B +4.5%; attrib. RMB 173.682B +3.3% (from 168.103). Rev RMB 446.163B +9.1%; NII RMB 341.237B +8.8%. NIM 1.29%.
NEXTlate Oct 2026 (Q3, est.)
VS STREETJPM Buy
PRICE327.83
DAY-0.71%
1M—
YTD—
MCAP$327.07 B
THESISQ2 $47.9B +5.7%, comps +1.7% / US +1.3%, EPS $4.79. Reaffirmed FY. Housing/repair at $334B. No 12-month dislocation.
RISKA housing/comp miss, or tariff/fuel costs that the IEEPA refunds do not offset.
JPMnot found
GSnot found
LASTQ2 FY2026, 18 Aug: sales $47.9B +5.7%, comps +1.7% (US +1.3%). NI $4.8B / $4.79 vs $4.58.
NEXTmid-Nov 2026 (est.)
PRICE382.13
DAY+2.84%
1M+20.02%
YTD+113.44%
MCAP$311.43B
THESISQ3 $3.00B / NGS ARR $8.13B. Q4 prints 1 Sep. Stock just did +12.83% to $383 on a CrowdStrike halo and M&A chatter, through JPM $384 and street avg $363. Quality platform. Not a chase into the print.
RISKA Q4 miss on organic NGS ARR, or another expensive Cribl/ClickHouse bid, after a 13% pre-print day.
JPMOverweight / $384 (Brian Essex; from $326, 25 Aug 2026; Yahoo / TIKR / Benzinga).
GSBuy / $330 (3 Jun 2026; MarketScreener). Nothing newer verified — mark is stale vs $383.
LASTQ3 FY26 (ended 30 Apr), 2 Jun: rev $3.002B +31% vs guide $2.941–2.945B (incl. $388M CyberArk+Chronosphere). NGS ARR $8.13B +60% (organic $6.5B +28%).
NEXT1 Sep 2026 AMC (Q4 FY26, company IR)
VS STREETJPM Overweight · GS Buy
PRICE456.01
DAY-0.05%
1M+20.44%
YTD+269.53%
MCAP$294.64B
THESISQ1 $43.84B +88% / non-GAAP $4.86. AI servers $16.1B, FY AI-server goal ~$60B. Q2 prints 1 Sep. Stock $472 after +275% YTD, through GS $510's implied cushion and only ~20% under JPM $565. The AI box is real. The tape already paid.
RISKDRAM/NAND/CPU shortages, or a Q2 that converts backlog into revenue without margin. MS Equal-Weight $434 called this one of the toughest near-term setups.
JPMOverweight / $565 (from $550, 25 Aug 2026; MarketScreener). Rating inferred from the PT raise series; headline is PT only.
GSBuy / $510 (Katherine Murphy; from $500, 12 Aug 2026; MarketScreener / TIKR). Agentic-AI storage.
LASTQ1 FY27, 28 May: rev $43.84B +88% vs ~$35.43B. Non-GAAP EPS $4.86 vs ~$2.94–2.96. GAAP $5.24. AI servers ~$16.1B. AI backlog $51.3B.
NEXT1 Sep 2026 AMC (Q2 FY27, confirmed IR)
VS STREETJPM Overweight · GS Buy
PRICE1,026.00
DAY-0.78%
1M+0.73%
YTD+13.84%
MCAP$298.71 B
THESISRecord Q2 $20.34B / $20.98, ROE 23.5%. 16x trailing. Stock $1,041 already through JPM Neutral $900. A franchise print, not a 12-month dislocation.
RISKMarkets-led P&L fades, or expenses/overseas mix that knocks the 23% ROE.
JPMNeutral / $955 (from $900, 15 Jul 2026; Benzinga via Lincolnian / Stock Observer). Stock is through the PT.
GSnot found (house does not rate itself)
LASTQ2 2026, 14 Jul: net rev $20.34B, NI $6.63B, diluted EPS $20.98, ROE 23.5% / ROTE 25.5%. GBM $15.5B record. Company IR.
NEXT13 Oct 2026 (Yahoo)
#55
PM
Philip Morris International
Hold
PRICE187.30
DAY-2.39%
1M-4.84%
YTD+18.83%
MCAP$291.92 B
THESISQ2 $11.2B +10% / adj $2.20 +15%. Smoke-free 42% of sales. ZYN ULTRA FDA + Altria contract-manufacturing. $190 vs street $204. A staple conversion, not a dislocation.
RISKUS ZYN volume stays ~2%, or combustibles/IQOS tax hits that knock the 7.5–9.5% EPS guide.
JPMOverweight / $185 (from $190, 26 Nov 2025; TipRanks/TheFly). Stale — no 2026 JPM mark found.
GSBuy / $220 (from $205, 23 Jul 2026; MarketScreener).
LASTQ2 2026, 22 Jul: net rev $11.2B +10.4% (+7.6% organic). Reported EPS $1.80 (RBH impairment) / adj $2.20 +15.2% / +13.6% ex-FX.
NEXT21 Oct 2026 (Yahoo)
VS STREETJPM Overweight · GS Buy
PRICE0.98
DAY+0.92%
1MA +3.00% / H +1.55%
YTDA +9.17% / H +22.85%
MCAP$315.03 B
THESISQ1 NI RMB 56.6B +4.17%, NIM 1.26%. Same SOE-bank call as CCB / AgBank / ICBC. $297B. Not a 12-month call.
RISKChina credit / property / NIM. H1 prints with the peers this afternoon.
JPMnot found
GSBuy / HK$5.95 on 3988.HK (from HK$5.35, 1 May 2026; stockanalysis / Investing). A-share mark not found.
LASTH1 2026, 28 Aug: attrib. NI RMB 123.594B +5.10%; group NI RMB 132.031B +4.67%. Rev RMB 356.903B +8.48%; NII +10.20%. NIM 1.27% (+1bp).
NEXTlate Oct 2026 (Q3, est.)
VS STREETGS Buy
PRICE152.06
DAY-1.14%
1M-3.25%
YTD+11.63%
MCAP$289.02 B
THESISQ2 sales $14.95B, core EPS $2.41. FY: LSD sales, core OI decline LSD. Kisqali / Kesimpta / Scemblix / Pluvicto. $155 vs street $157. Quality Swiss pharma, no 12-month gap.
RISKThe core-OI decline sticks, or a pipeline miss (del-zota / Kisqali OS) that knocks the LSD sales guide.
JPMOverweight / CHF 135 (Richard Vosser; reaffirmed 22 Jul and 10 Aug 2026; MarketScreener).
GSSell / $139 (from $140, 22 Jul 2026; stockanalysis / TipRanks).
LASTQ2 2026, 21 Jul: net sales USD 14.4B +3% USD / +1% cc. Core EPS $2.41 (0% USD / −1% cc) vs Yahoo est $2.15. GAAP EPS $1.71 −17%.
NEXT27 Oct 2026 (Q3/9M, company IR)
VS STREETJPM Overweight · GS Sell
PRICE114.02
DAY-4.10%
1M+0.97%
YTD-25.32%
MCAP$283.41B
THESISQ1 FY27 RMB 269B +9%. Cloud external +45% (22-quarter high), AI products 12th straight triple-digit quarter, cloud EBITA +133% to 12% margin. GAAP NI −75% and a $10.2B AI placement are the tape. $116 vs JPM $210 / street $187 is the 12-month gap.
RISKAnother placement, or FCF outflow (RMB 44.7B this quarter) that does not turn as cloud ROIC shows up.
JPMOverweight / $210 (from $205, 21 Aug 2026; Yahoo / Benzinga / Defense World).
GSBuy / $186 (Ronald Keung; 19–20 May 2026; TipRanks). Nothing newer verified post-Aug print — treat as stale vs the $10B placement.
LASTQ1 FY27 (ended 30 Jun), 20 Aug: rev RMB 268.95B / US$39.64B +9%. GAAP NI RMB 10.44B −75%. Non-GAAP EPS/ADS US$1.26 vs ~$1.85 (miss).
NEXT24 Nov 2026 (est.; Yahoo)
PRICE207.73
DAY-1.88%
1M-2.97%
YTD+13.26%
MCAP$279.96 B
THESISQ2 $24.7B +14% / +16% organic, adj $1.89 +21%, FCF $2.9B. Raised FY adj sales $95–96B / adj EPS $7.10–7.25 / FCF $8.50–8.75B. Backlog $289B. $212 vs street $235. A defense compounder, not a dislocation.
RISKGTF/aftermarket execution, or a Pentagon/budget air pocket after the raise.
JPMOverweight / $240 (from $215, 24 Jul 2026; MarketScreener).
GSNeutral / $206 (from $195, 27 Jul 2026; MarketScreener).
LASTQ2 2026, 23 Jul: sales $24.7B +14% / +16% organic. GAAP EPS $1.57 / adj $1.89 +21% vs Yahoo est $1.66. OCF $3.5B, FCF $2.9B. Backlog $289B.
NEXT20 Oct 2026 (Yahoo)
VS STREETJPM Overweight
PRICE204.15
DAY-0.04%
1M-3.69%
YTD+19.77%
MCAP$282.63 B
THESISQ3 (ended 31 Jul) record NI C$6.0B +11% / diluted C$4.23 vs ~C$4.08 adj beat. Rev C$18.54B vs ~C$18.14B. ROE 17.9%, CET1 13.5%. $205 vs street $206. A Canadian mega-bank print. Quality, not a gap.
RISKPCL stays at C$1.0B+, or a capital-markets fade after a record quarter.
JPMnot found
GSnot found
LASTQ3 FY26 (ended 31 Jul), 27 Aug 2026: NI C$6.024B +11% / +9% q/q. Diluted EPS C$4.23 +13% vs LSEG/MPA adj est. ~C$4.08.
NEXTearly Dec 2026 (Q4 FY26, est.)
PRICE241.91
DAY+1.20%
1M+4.28%
YTD+122.44%
MCAP$258.35 B
THESISQ1 FY27 $1.289B +22%, non-GAAP $0.45 vs $0.40±0.04. Data-center royalties more than doubled. Q2 guide $1.38B / $0.47. Stock $255, 255x trailing, sitting on JPM Buy $255. GS Hold $150 is the multiple we respect.
RISKThe 255x multiple compresses if royalty growth slips from high-teens, or if the own-CPU push dilutes the licensing model.
JPMOverweight / $255 (Harlan Sur; from $240, ~31 Jul 2026; Longbridge). Stock is at the PT.
GSHold / $150 (James Schneider; 30 Jul 2026; ts2 / Michaels Finance Corner).
LASTQ1 FYE27 (ended 30 Jun), 29 Jul: rev $1.289B +22% vs guide $1.26B ±$50m. Royalty $715M +22% (DC royalties more than doubled). Licensing $574M +23%.
NEXT4 Nov 2026 (Yahoo)
VS STREETJPM Overweight
PRICE331.63
DAY-1.47%
1Mn/a
YTD+16.24%
MCAP$258.75 B
THESISQ3 was a record (orders €27.9B, SI +42% on data-center electrification, FCF €4.1B) and they raised EPS pre-PPA to €11.20–11.50. The stock already digested it. DI book-to-bill 0.98 is the tell.
RISKDigital Industries orders fade into FY27 against the EDA comp, or data-center SI bookings do not convert.
JPMOverweight / €345 (Phil Buller; 6 Aug 2026, from €335 on 29 Jun). Kept after Q3; DI fade explained the drop. Analyst Focus List.
GSBuy / €319 (Daniela Costa; 19–20 Aug 2026, from €292). MarketScreener UK.
LASTQ3 FY26 (ended 30 Jun), 6 Aug 2026: orders €27.9B +13% nom / +14% comparable, rev €20.8B +7% nom / +8% comparable, book-to-bill 1.34, backlog €132B.
NEXT12 Nov 2026 (Q4 FY26, Siemens IR calendar)
VS STREETJPM Overweight · GS Buy
PRICE86.39
DAY-0.35%
1Mn/a
YTD+5.45%
MCAP$261.24 B
THESISQ2 $22.6B / $2.00 +25%, ROTCE 17.7%, loans +12%. The franchise is earning again. 12.3x trailing, JPM Neutral $95.50, stock $86.69 vs street $100. Cleanup, not a dislocation.
RISKCRE / residual consent-order or CET1 10.3% limiting buybacks if credit turns.
JPMNeutral / $95.50 (Yahoo: 29 Jul 2026, 93.5→95.5). Stockanalysis lists Vivek Juneja Hold $94→$96 same week — same mark, wording Neutral vs Hold.
GSnot found
LASTQ2 2026, 14 Jul: NI $6.407B, diluted EPS $2.00 vs $1.60 y/y (+25%), incl. $0.04 discrete tax.
NEXT13 Oct 2026 (Yahoo)
PRICE526.36
DAY-1.06%
1Mn/a
YTDADR LVMUY 52w $102.50–$152.95, last $106…
MCAP$259.47 B
THESISH1 organic +2% (Q2 +3%) and Fashion & Leather back to +1% organic in Q2. Reported still −3% on FX. Quality house, 21x, sitting near the 52-week low. JPM Neutral. Wait for a cleaner China/US luxury print.
RISKChina/US tourist spend and Fashion & Leather slip back negative, or FX keeps eating reported EBIT (~€700m H1).
JPMNeutral (Chiara Battistini; 28 Jul 2026, MarketScreener 'JP Morgan remains Neutral' post H1). PT not in the headline.
GSnot found (Louise Singlehurst covers on MarketScreener; no dated 2026 PT pulled)
LASTH1 2026, 27 Jul: rev €38.644B −3% reported / +2% organic. Q2 €19.52B +3% organic. PRO €8.691B −4%, op. margin 22.5%. NI group share €5.697B flat.
NEXTmid-Oct 2026 (Q3, est.)
#64
MUFG
Mitsubishi UFJ Financial
Hold
PRICE22.75
DAY-0.66%
1Mn/a
YTD+43.75%
MCAP$256.06 B
THESISJapan's largest bank, MS stake, rates tailwind. ADR $22.90 is through the $21.59 street mean and a tick off the $23.25 52w high after +44% YTD. The re-rating already printed.
RISKYen/BoJ reverse, or the Morgan Stanley equity-method line and Japan NIMs roll over together.
JPMnot found
GSnot found
LASTQ1 FY27 (Japan FY), Yahoo: actual EPS $0.45 vs est $0.34. Q4 FY26 rev ¥2.15T, earnings ¥613.72B.
NEXT12 Nov 2026 (est.; Yahoo)
PRICE220.89
DAY-0.29%
1Mn/a
YTD+7.85%
MCAP$254.95 B
THESISCloud is still compounding (Q2 cloud +22%/24% cc, CCB €22.9B +27%). UBS just cut on AI monetization and JPM is Neutral €175. ADR $221 is 21% off the $281 52w high. Quality. Not a chase until FY27 AI/cloud proves the seat model.
RISKAI agents eat ERP seats, or cloud-backlog growth keeps decelerating after the Dremio/Prior Labs dilution.
JPMNeutral / €175 (Toby Ogg; post-Q2). CCB 26% above expectations; EBIT/margin the miss. MarketScreener.
GSnot found
LASTQ2 2026, 23 Jul: current cloud backlog €22.929B +27% / +26% cc. Cloud rev +22% / +24% cc; Cloud ERP Suite +25% / +27% cc. Total rev +9% / +11% cc.
NEXT21 Oct 2026 (Yahoo)
PRICE162.13
DAY-0.35%
1Mn/a
YTD+11.15%
MCAP$251.44 B
THESISQ2 core $2.63 vs ~$2.48–2.50, FY guide held, $80B 2030 still on. Oncology +15%. ADR $162.70 is 24x and 23% under the $212.54 street mean after the Wainua miss. That is a 12-month gap, not a broken pipeline.
RISKAnother Phase III miss after CARDIO-TTRansform/Wainua, or China VBP keeps taking a 13% bite.
JPMOverweight / 16,000p (Richard Vosser; 9 Jul 2026, reiterated 17 Aug). Analyst Focus List. Wainua miss taken out of the model. finanzen.at / MarketScreener.
GSBuy / 16,300 GBX (Rajan Sharma; 20 Aug 2026, from 16,070). MarketScreener.
LASTQ2 2026, 27 Jul: total rev $15.384B +6% / +5% CER vs ~$15.31–15.39B. Core EPS $2.63 +21% / +18% CER vs ~$2.48–2.50. Reported EPS $1.61.
NEXT30 Oct 2026 (Yahoo)
PRICE91.45
DAY+0.59%
1M+5.46%
YTD+23.72%
MCAP$251.61 B
THESISQ2 delivered (Yahoo: rev $94.66B, earnings $10.82B; company-side adj earnings ~$9.8B, OCF >$21B). 10x, 3.45% yield, buybacks on. $90.91 vs street $97.77. Same call as XOM/CVX: cash-return compounder, not a dislocation.
RISKBrent/refining margins fade (Brent ~$89, weekly −5.4% into Fri) and the $3B buyback pace has to slow.
JPMOverweight / 3,600 GBX (3 Jul 2026, from 3,900). American Banking News / MarketBeat.
GSBuy (restated 8 May 2026). PT not in the May headline. Stale vs the July JPM mark.
LASTQ2 2026: Yahoo rev $94.66B, earnings $10.82B, margin 11.43%. Secondary: adj earnings ~$9.8B, OCF >$21B, FCF ~$17B, net debt ~$42B.
NEXT29 Oct 2026 (Yahoo)
VS STREETJPM Overweight · GS Buy
PRICE97.38
DAY+0.25%
1Mn/a
YTD+2.29%
MCAP$250.48 B
THESISH1 OG 3.6% / RIG 1.5%, Q2 RIG 1.8% — the recovery is real and slow. FY OG 3–4%, FCF >CHF 9B. JPM Neutral CHF 90. CMC $97.23 / ADR $97.28 is 27x. Staple, not a gap.
RISKCocoa/coffee costs or Middle East freight keep H2 UTOP from improving, or GLP-1 volumes hit the food portfolio harder than the new-product offset.
JPMNeutral / CHF 90 (Celine Pannuti; reaffirmed 22 Jul 2026, still Neutral 17 Aug). MarketScreener.
GSnot found
LASTH1 2026, 23 Jul: OG 3.6% (RIG 1.5%, pricing 2.1%). Q2 OG 3.7% (RIG 1.8%, pricing 1.9%), OG positive every zone.
NEXTlate Oct 2026 (Q3 OG update, est.)
PRICE53.64
DAY-0.86%
1Mn/a
YTD+0.57%
MCAP$248.15 B
THESISH1 NI +42% on +55% rev, 40% global EV-battery share, ESS #1. Q2 GM miss is why the A-share sits at RMB 358 vs GS RMB 565 and Yahoo avg 564. 19x. Wait for 4Q mix/ESS as Goldman said — that is the prove-out, not Monday's −2.8%.
RISKEV/ESS demand slows or sodium-ion mix keeps GM from recovering in 2H.
JPMnot found
GSBuy / RMB 565 A-share and HK$947 H-share (Nick Zheng / Selina Yan; 17 Aug 2026 follow-up after initiation). 4Q26 the proving ground. ChinaBizInsider.
LASTH1 2026, 24 Jul: rev RMB 276.917B +54.8%; attrib. NI RMB 43.284B +41.98%. Q2 rev RMB 147.79B +56.9%, NI RMB 22.55B +36.5% y/y / +8% q/q.
NEXTlate Oct 2026 (est.)
VS STREETGS Buy
PRICE195.69
DAY+0.16%
1Mn/a
YTD+49.11%
MCAP$246.80 B
THESISQ2 $3.04B +38% / $1.02 vs $0.89, GM 63.4%. The AI Ethernet franchise is real. 62x trailing and +49% YTD with GS at $225 vs $195. Quality. Not a chase into a Nov print after Friday's SOX dump.
RISKMSFT/Meta concentration plus optics/supply slip, or campus mix dilutes the 63% GM.
JPMnot found
GSBuy / $225 (reaffirmed 5 Aug 2026). Baseball News Source weekly ratings wrap.
LASTQ2 2026: Yahoo rev $3.04B, earnings $1.21B, EPS $1.02 vs est $0.89. Secondary: +37.7% y/y, non-GAAP GM 63.4%.
NEXT3 Nov 2026 (est.; Yahoo)
VS STREETGS Buy
#71
600519.SS
Kweichow Moutai
Hold
PRICE1,301.35
DAY+0.14%
1M−4.24%
YTD−8.74%
MCAP$242B
THESISQ2 showed reform costs are front-loaded (rev −5.2%, NP −6%) as non-standard ASP cuts and wholesale contraction offset Feitian hikes; iMoutai now ~half of sales. At ~19–20x TTM the stock already prices a soft H1 — wait for sequential revenue turn and wholesale price stability before upgrading.
RISKChannel reform keeps reported growth negative into peak season, or anti-graft/demand stays soft and Feitian wholesale fails to stabilize.
JPMNeutral / CNY ~1,400 (mid-Aug post-Q2 secondary via Dragonomi citing JPM PT cut). Primary MarketScreener/MT headline not fetched — treat as secondary. Investing.com also shows May 29 Hold/CNY 1,420 downgrade.
GSBuy / sector top-pick stance (Leaf Liu et al.; Jun 2026 baijiu sector note via Moomoo — Moutai preferred). Latest numeric PT not found on MarketScreener/MT. Jul 21 GS market-oriented plan note exists (baogaopai PDF index) without verified PT in open web.
LASTQ2/H1 2026, reported ~15 Aug 2026 Beijing: Q2 rev RMB 37.6B −5.2% y/y; attrib. NP RMB 17.2B −6% y/y (Longbridge Dolphin). Missed street (esp.
NEXTlate Oct 2026 (Q3 2026; typical SSE calendar — official date not confirmed on Yahoo)
VS STREETGS Buy
PRICE898.53
DAY−1.47%
1M−9.3%
YTD+32.2%
MCAP$239B
THESISQ2 orders $24.2B and $176B backlog plus a large FCF guide raise ($11.5–12.5B) validate the gas + electrification/data-center story, but GAAP EPS missed and Wind still loses money. After the YTD rerating, Monday’s −1.47% looks like CFO-succession follow-through / profit-taking — 12-month R/R is closer to Hold than chase until Q3 proves Power margins and Wind path.
RISKWind EBITDA losses persist, or Power/Electrification margins and FCF miss the raised 2026 guide into a still-rich multiple.
JPMOverweight / $1,330 (from $1,302; 23 Jul 2026). MarketScreener / TipRanks TheFly.
GSBuy / $1,268 (from $1,289; 23 Jul 2026). MarketScreener. No newer GS mark verified.
LASTQ2 2026 (ended 30 Jun), reported 22 Jul 2026: rev $11.1B +22% y/y (beat ~street ~$10.8–10.9B); GAAP EPS $2.47 vs Yahoo est ~$3.18 (miss ~−22%).
NEXT28 Oct 2026, 7:30 a.m. EDT (Q3 2026 webcast — GE Vernova IR events)
VS STREETJPM Overweight · GS Buy
PRICE93.92
DAY−1.29%
1M+11.2%
YTD+52.1%
MCAP$239B
THESISFY26 underlying profit $13.2B beat and copper overtook iron ore as the earnings engine, but the ADR at $93.92 sits ~20%+ above the Hold-heavy street PT cluster (~$71–78). That is peak-cycle pricing into copper that already ran hard — 12-month expected return skews negative even if the miner executes.
RISKCopper mean-reversion (GS has floated ~$11k/t YE 2026 in commodity research) or China steel/iron-ore soft patch compresses EBITDA from the FY26 high.
JPMNeutral/Hold / 3,000 GBp (from 2,900; Dominic O'Kane, 19 Aug 2026) — Intellectia. ASX stockanalysis also lists JPM Hold AUD 55.22→57.13 same date.
GSnot found (no post-FY26 MarketScreener/MT GS PT located). Older TipRanks Jan 2026 Buy A$57.70 (Matt Greene) is stale vs tape; MarketBeat shows Apr 17 Hold→Strong-Buy upgrade without a verified PT.
LASTFY26 (ended 30 Jun 2026), reported 18 Aug 2026: underlying attrib. profit US$13.2B +30% vs Visible Alpha ~$12.66B; statutory NPAT US$9.83B.
NEXTmid-Feb 2027 (HY27 / 1H FY27; historical pattern after Feb 17 2026 HY26 — official date not yet posted)
VS STREETJPM Neutral · GS Buy
PRICE260.91
DAY+0.88%
1M−5.4%
YTD+47.0%
MCAP$238B
THESISQ2 delivered a clean cyclical upswing (rev $5.46B +23% y/y, EPS $2.14 vs ~$1.91–1.94) with industrial/auto/data-center breadth and Q3 guide $5.65–6.15B. Still, ~40x trailing and a loud GS Sell vs JPM OW split say the mid-cycle rebound is largely in the price after the YTD run — Hold, not chase.
RISKIndustrial/auto digest or data-center analog growth disappoints vs the raised bar, compressing the multiple GS already flags as too rich.
JPMOverweight/Buy / $340 (from $280; 23 Jul 2026). TipRanks TheFly / Markets Insider.
GSSell / $225 (from $200; 23 Jul 2026). Markets Insider / TheMarketMonitors. No newer GS mark verified.
LASTQ2 2026 (ended 30 Jun), reported 22 Jul 2026: rev $5.463B +23% y/y (+13% q/q) vs street ~$5.26B; EPS $2.14 (incl.
NEXTlate Oct 2026 (Q3 2026; MarketBeat est 27 Oct / Public.com est 20 Oct — company date not yet confirmed on IR)
VS STREETJPM Overweight · GS Sell
PRICE384.70
DAY−0.98%
1M~0 to −1.3%
YTD+5.5%
MCAP$238B
THESISH1 delivered quality compounding — sales €23.78B, adj. LFL +6.5%, record OM 21.3% — with e-comm and North Asia recovery intact. JPM Neutral PT €375 sits below the Paris last €384.70 while GS Buy €435 is April-vintage; 12-month edge is thin after the print, so Hold the compounder rather than pay up.
RISKNorth Asia/China premium beauty stalls again, or Gucci licence / Innovist deal integration dilutes margin vs the 21.3% bar.
JPMNeutral / €375 (from €365; Celine Pannuti, 11 Aug 2026). MarketScreener dpa-AFX.
GSBuy / €435 (from €430; Olivier Nicolai, 23 Apr 2026). finanzen.net / Zonebourse. No newer GS PT verified post-H1.
LASTH1 2026 (ended 30 Jun), reported 29 Jul 2026: sales €23.776B +5.8% reported / +6.8% LFL / +6.5% adj. LFL;
NEXT22 Oct 2026 (Q3 2026 sales — MarketScreener calendar)
VS STREETGS Buy
PRICE10.16
DAY-0.10%
1M+3.57%
YTD+19.25%
MCAP$237.19B
THESISH1 NI +22% and a fat interim dividend support the H-share, but fuel volumes fell and the stock already sits near the street HKD ~11–12 band. Quality cash-flow oil major, not a dislocation at HKD 10.16.
RISKBrent fade and/or further China gasoline/diesel demand destruction from alternatives.
JPMOverweight / high-conviction APAC energy top pick; H-share PT HKD 10 at $60–65 long-term oil, HKD 13.7 at $80 (Parsley Ong et al., 2 Mar 2026; Futunn/Moomoo). No fresher dated JPM PT found post-H1.
GSBuy (Nikhil Bhandari; maintained 30 Jun 2026, stockanalysis — PT not restated in that row). Last numbered H-share PT cited HKD 11.50 (raised from HKD 8.60 in Mar 2026 Futunn write-up of GS Big-3 note). Spot ~HKD 10.16 already near that band.
LASTH1 2026 interim (printed ~30 Aug 2026 HKEX): rev RMB 1,527.491B +5.3% y/y; NI attributable RMB 103.936B +22.0%; basic EPS RMB 0.57.
NEXT29 Oct 2026 (Yahoo)
VS STREETJPM Overweight · GS Buy
PRICE231.00
DAY+5.77%
1M+21.03%
YTD+97.12%
MCAP$236.52B
THESISFalcon platform is compounding — record NNARR and a Fal.Con partner blast are real. But Mon close $231 sits on/above the ~$229 street mean after +98% YTD and ~185x forward. Great company; not a 12-month chase here.
RISKMultiple compression if net-new ARR decelerates or Fal.Con pipeline does not convert into durable ARR.
JPMOverweight / $235 (maintained; PT $200→$235, 20 Aug 2026 — Business Insider / GuruFocus). Pre-dates Mon Fal.Con close.
GSBuy / $230 (Gabriela Borges; $208→$230, 27 Aug 2026 — MarketScreener / stockanalysis). A TipRanks/TheFly item citing GS $564→$500 keep Buy after Q4 appears pre-split/stale vs this post-split mark — not used.
LASTQ2 FY27 (ended 31 Jul 2026), reported 26 Aug 2026: total rev $1.47B +26% y/y; ARR $5.84B +25%; record net new ARR $332.8–333M +51% y/y;
NEXTQ3 FY27 ~1 Dec 2026 (projected; not yet company-confirmed — prior Q3 printed 2 Dec 2025)
VS STREETJPM Overweight · GS Buy
PRICE196.54
DAY+2.36%
1M+5.57%
YTD-9.79%
MCAP$232.73B
THESISQ1 sales beat and a ¥1T buyback help, but operating income still fell on tariffs/costs and the ADR is −10% YTD. Quality hybrid franchise; wait for cleaner OI trajectory vs FX/other-income noise.
RISKUS tariffs and logistics keep compressing operating margin even if reported NI stays FX-supported.
JPMnot found (no dated 2026 ADR/local PT verified; 2022 OW upgrade is stale)
GSnot found
LASTQ1 FY27 (ended 30 Jun 2026), reported 4 Aug 2026: sales rev ¥13,525.4B +10.4% y/y (vs ~¥13.06T BBG); operating income ¥1,063.4B −8.8%;
NEXT5 Nov 2026 (est.; Yahoo)
VS STREETJPM OW
PRICE429.88
DAY-0.59%
1M+13.46%
YTD+31.20%
MCAP$232.40B
THESISQ2 beat and Tezspire EoE Phase 3 are constructive, but $430 already sits above the ~$388 street mean and JPM is Neutral $350. Growth is fine; asymmetric upside is not.
RISKLOE on mature brands (Enbrel etc.) outruns pipeline (MariTide/obesity lag vs LLY/NVO; new indications).
JPMNeutral / $350 (from $300, 5 Aug 2026 — MarketScreener/MT headline via same-day Wells Fargo note page). Below spot.
GSBuy / $450 (from $427, 5 Aug 2026 — MarketScreener).
LASTQ2 2026, reported 4 Aug 2026: total rev $10.054B +10% y/y (product sales $9.537B); GAAP diluted EPS $4.37;
NEXT3 Nov 2026 (est.; Yahoo)
VS STREETGS Buy
PRICE1,566.70
DAY+5.50%
1M+21.64%
YTD+469.21%
MCAP$229.39B
THESISConfirmed Sandisk Corporation (NASDAQ:SNDK) — NAND flash / WDC spin, Milpitas; NOT KLAC. AI datacenter NAND and LTAs are real, but +~470% YTD to $1,567 after MSCI inclusion leaves thin margin of safety if ASPs mean-revert. Disagree with chasing the flow day.
RISKNAND pricing cycle turns despite NBM/LTAs; or Japan capex ($31B with Kioxia, govt-contingent) overbuilds into a downturn.
JPMOverweight / $2,250 (Harlan Sur; reinstated/OW after Investor Day, ~14–16 Aug 2026 — Benzinga/Fool/TheStreet). Dec 2027 framework cited in some notes.
GSBuy / $2,200 (James Schneider; reiterated 14 Aug 2026 — stockanalysis).
LASTQ4 FY26 (ended 3 Jul 2026), reported 5 Aug 2026: rev $8.965B +51% q/q / +372% y/y; GAAP diluted EPS $43.97;
NEXT6 Nov 2026 (est.; Yahoo)
VS STREETJPM Overweight · GS Buy