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After a deep adjustment among China's internet giants, Goldman Sachs remains optimistic about these three sectors.
The Chinese internet sector has remained under pressure since the beginning of the year. After completing its earnings season research, Goldman Sachs maintains a differentiated allocation strategy across the three major sub-sectors, designating cloud computing and data centers as the top picks. Meanwhile, e-commerce and travel have been upgraded to second place, with gaming and entertainment reaffirmed in their ratings. According to information from the Zhui Feng Trading Platform, the latest report published by Goldman Sachs’ Ronald Keung team on April 2 indicates that the median price-to-earnings ratio for the current Chinese internet sector is approximately 14 times, while profit growth expectations are trending towards moderation. Goldman Sachs believes that recovery in sector profitability or a shift in narrative—such as revaluation of AI model/chip infrastructure value or overseas business valuation—may drive future performance.
US Stocks Overnight | US-Iran Signal an End to Conflict, Major Indices Post Largest Single-Day Gains Since May 12 Last Year, But Decline for the Quarter and Month
At the close of trading, the Dow Jones Industrial Average rose by 1,125.19 points, or 2.49%, to 46,341.33 points; the Nasdaq Composite Index surged by 795.99 points, or 3.83%, to 21,590.63 points; and the S&P 500 Index increased by 184.80 points, or 2.91%, to 6,528.52 points.
5 Consumer Discretionary Stocks Whale Activity In Today's Session
J.P. Morgan Maintains PDD Holdings(PDD.US) With Hold Rating, Raises Target Price to $110
Barclays Maintains PDD Holdings(PDD.US) With Buy Rating, Maintains Target Price $165
PDD Holdings May See Earnings Recovery This Year -- Market Talk
