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Goldman Sachs: Maintains Neutral rating on Sunny Optical, target price of HKD 65.
Goldman Sachs released a research report, maintaining neutral rating on Sunny Optical Technology (02382) with a target price of HKD 65. The company held the 2024 Investor Day, mainly discussing the recovery of demand for intelligent smartphone lenses, the upgrading of automotive lens specifications and pricing pressure, and the impact of AI on the optical industry. Overall, the bank pointed out that Sunny Optical Technology expects a moderate recovery in global smartphone shipments in 2024 (+3.5% YoY), and is bullish on the growth driven by the improvement of the company's product portfolio and customer combination. As the specifications of in-car cameras continue to upgrade, the demand keeps growing. The company is striving to meet the needs of the automotive industry.
Jobless Claims Forecast to Decline From High Levels of Previous Week
A softening labor market could prompt the Federal Reserve to cut interest rates sooner than expected.
The cost of hedging against the Swiss franc's volatility has risen to its highest level since 2015, and the market is anxiously waiting for the Swiss central bank's interest rate decision.
On Wednesday morning, the overnight hedging cost of the Swiss franc skyrocketed, reaching the highest increase since the Swiss National Bank unexpectedly canceled the Swiss franc-euro exchange rate cap in 2015. The Swiss National Bank will announce its interest rate decision on Thursday, and the market is still uncertain whether the central bank will choose to lower interest rates or send a signal to support the Swiss franc through forex intervention. This has led to the highest hedging costs for Swiss franc volatility since 2022. The overnight volatility of the euro against the Swiss franc surged to 18.27% at one point, the highest level since March 2023, and later fell to around 15%. The current market concerns mainly revolve around policy risks, and Goldman Sachs strategists pointed out that the Swiss National Bank.
JPMorgan removes the ceiling for British bankers' bonuses and allows them to get up to 10 times their base salary.
JPMorgan has joined the ranks of its competitor Goldman Sachs to remove the bonus ceiling for London bankers, paving the way for higher compensation for senior employees. According to an insider, this move will allow JPMorgan bankers to receive bonuses equivalent to 10 times their base salary. The UK government abolished the cap on banker bonuses last year. A JPMorgan spokesperson said in a statement, “We believe we have developed one of the most attractive and balanced compensation structures in the industry. Fixed pay will still be very competitive and we will have ample room to appropriately reward our top performers.” The person was discussing personnel matters
The silence of the Swiss National Bank makes interest rate cuts uncertain.
The decision of the Swiss National Bank this week will be another tense event, as officials decide whether to cut interest rates or maintain them. Thursday's decision comes three weeks after Swiss National Bank policymakers last publicized their comments, with investors speculating on the prospect of further action in the market volatility and the appreciation of the Swiss franc. Economists have varying views on the outcome, with a few predicting that Switzerland will be the first country to end its easing cycle. In March, Switzerland's interest rate cut made it the fastest-cutting country among the top 10 trading currencies globally. Compared with other countries,
Taiwan Semiconductor's market cap approaches $1 trillion as major Wall Street firms like Goldman Sachs raise their target prices.
As Taiwan Semiconductor's market cap approaches the $1 trillion mark, the call for optimism is getting higher. Several Wall Street brokerages raised their target price for Taiwan Semiconductor this week, citing the surge in demand for AI-related products and potential price hikes in 2025 that will boost Taiwan Semiconductor's profits. The most optimistic is Goldman Sachs, which raised its target price by 19% to NT$1,160, as it expects the manufacturing prices of 3-nanometer and 5-nanometer chips to rise by "low single-digit percentages." JPMorgan said Taiwan Semiconductor could raise its revenue outlook for 2024 and may even increase capital expenditure to the high end of guidance range, forecasting AI-related growth until 2028.
MomentumPython1337 : i don't see the date for the goldman sachs data, is it up to date?
MomentumPython1337 : there was an outflow in 5/27/24 for BoA figure, maybe it's that period
MomentumPython1337 : if i were to guess it's probably funds shifting money out of certain tech stocks into other tech stocks as part of rebalancing. so for that week they sold existing positions to get cash then next week bought new tech stocks.
maybe they're getting more pressure to sell less-performing tech stocks to buy more NVDA lol