undefined Several brokerages cut their price targets on Xiaomi Corp’s stock even after the electronics giant reported record revenue and profit for 2025, reflecting growing investor anxiety over whether the company can sustain growth across its core smartphone and emerging automotive businesses amid supply chain and policy headwinds. CMB International lowered its price target on Xiaomi’s shares to...
undefined Several brokerages cut their price targets on Xiaomi Corp’s stock even after the electronics giant reported record revenue and profit for 2025, reflecting growing investor anxiety over whether the company can sustain growth across its core smartphone and emerging automotive businesses amid supply chain and policy headwinds. CMB International lowered its price target on Xiaomi’s shares to HK$44.47 from HK$47.16, citing rising memory prices and Beijing’s decision to cut back its tax break for new-energy vehicle (NEV) purchases as headwinds for the Chinese tech giant. BofA Securities made a similar prediction, cutting its price target on Xiaomi to HK$40 from HK$45.
Lahiru Lakmal/iStock via Getty Images Investment Thesis CoreWeave ( CRWV ) is still one of my best ways to play out the infrastructure buildout. The difference today is that I do not have to lean on vague optimism. And I say this with reference to the 4Q 2025 Earnings report. The company just guided a $12 to $13Bn in revenue. And they also announced that they have a $66.8Bn revenue backlog. That b...
Lahiru Lakmal/iStock via Getty Images Investment Thesis CoreWeave ( CRWV ) is still one of my best ways to play out the infrastructure buildout. The difference today is that I do not have to lean on vague optimism. And I say this with reference to the 4Q 2025 Earnings report. The company just guided a $12 to $13Bn in revenue. And they also announced that they have a $66.8Bn revenue backlog. That backlog is not some sort of a hope number. In fact it is tied to committed customer contracts, subject to delivery and service availability which is exactly why capacity execution matters. In my previous articles, I rated the company a Buy. And I still believe that there is more expected upside than downside. That is why I am reiterating CRWV with a Buy rating. Now here is the fresh part that matters for this update on CRWV. I believe the market has been treating CRWV like a leveraged GPU landlord. And this is because the 1Q 2026 margins are guided to trough. Capex is also expected to explode. Perhaps this is where many investors are expected to panic. CRWV's model is beginning to get financed like contracted infrastructure. I say this in reference to the recent announcement of an $8.5Bn delayed draw term loan facility. In my opinion, this is a big signal. Because it tells me that institutional capital is willing to underwrite GPU backed assets when there is an associated customer contract. And to me that is the real derisking of the "how do they fund this?" kind of question. In my last piece , I said that every time "...CoreWeave thinks it has built enough capacity, customer keep asking for more.." And today, that line still holds water. What has changed is that CRWV now has clearer targets for where this demand converts into revenue. The company is also targeting an exit of 2026 with between $17Bn and $19Bn. And in 2027, an exit of more than $30Bn. Of course that is not some small talk. It is actually a map. Business Overview For context, Coreweave is a purpose built AI cl...
viper-zero/iStock Editorial via Getty Images We are positively impressed by Deutsche Lufthansa AG's ( DLAKF ) ( DLAKY ) share price performance and our rating evolution. Since our last update ( Q3 results comment ) and considering the travel disruptions/oil price, the company reported a price increase of >11% vs a negative S&P change (Fig. 1). Of course, Lufthansa's stock price was impacted by the...
viper-zero/iStock Editorial via Getty Images We are positively impressed by Deutsche Lufthansa AG's ( DLAKF ) ( DLAKY ) share price performance and our rating evolution. Since our last update ( Q3 results comment ) and considering the travel disruptions/oil price, the company reported a price increase of >11% vs a negative S&P change (Fig. 1). Of course, Lufthansa's stock price was impacted by the escalation in the Middle East. However, we believe this is still a good momentum to re-enter/increase the position. As a reminder, our buy case was supported by 1) MRO upside with supportive cost-management initiatives, 2) FCF and deleverage path, and 3) p ick-up in airline search trends. Mare Ev. Lab Rating Update Fig 1 Lufthansa Results and Our Positive Stance Deutsche Lufthansa reported its earnings in early March 2026. We will be very brief, to recap. The company delivered a Q4 EBIT of €480 million, 10% above the implied consensus. MRO results and better ex-fuel costs backed this. In Q4, the MRO core operating profit reached €163 million vs. a Wall Street consensus estimate of €144 million. Key metrics to report are RASK evolution (which measures how much revenue an airline generates per seat offered per kilometer flown), supported by Transatlantic routes (+2%). And ex-fuel (which measures the cost incurred to operate each seat per kilometer) was flattish on a yearly basis. In 2025, the company reported its highest top-line sales in history, reaching €39.6 billion (up 5% vs. 2024 - Fig. 2). Lufthansa also increased its operating profit to €2 billion, with a 50-basis-point increase in margin to 4.9%. Lufthansa 2025 Results in a Snap Fig 2 Why Are We positive? Building on our previous positive headwinds, we continue to see upside in MRO and FCF generation. In 2025, the company generated higher operating cash flow, leading to a +41% increase in FCF generation. This was due to lower CAPEX investment in new aircraft. However, "lower net investments than originally planned, ...
Qualcomm (NasdaqGS:QCOM) is expanding its AI efforts into humanoid robotics through an investment in Neura Robotics. The company is working with global EV brands such as FREELANDER to integrate its AI and connectivity platforms into next generation vehicles. These moves extend Qualcomm's reach beyond smartphones into industrial automation and automotive technology. For investors tracking AI, Qualc...
Qualcomm (NasdaqGS:QCOM) is expanding its AI efforts into humanoid robotics through an investment in Neura Robotics. The company is working with global EV brands such as FREELANDER to integrate its AI and connectivity platforms into next generation vehicles. These moves extend Qualcomm's reach beyond smartphones into industrial automation and automotive technology. For investors tracking AI, Qualcomm is now tying its chip and software capabilities to both humanoid robots and electric...