Morgan Stanley has issued a research report estimating Amazon.com (AMZN.US)'s cloud computing business AWS to accelerate in growth and show even stronger growth in the future. As the tech giant is still investing in AWS, retail, and low-orbit satellites, the efficiency of its retail business will continue to improve.

Given that Amazon.com's past record demonstrates an excellent return on invested capital, Morgan Stanley holds an optimistic view on this undervalued, multi-domain GenAI winner. The broker has raised Amazon.com's 2027 EPS forecast by 3% and kept an Overweight rating on the company, with a target price lowered from USD315 to USD300.
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WeRide (WRD.US)'s US stock has descended by 10% YTD, underperforming the KWEB ETF by 16% since mid-January, JPMorgan issued a research report saying. Part of the weakness reflects renewed concerns over intensified competition in the robotaxi sector, particularly following Tesla (TSLA.US)'s entry into the field, which has drawn attention.

However, the broker believed that, without in-depth localization software integration and data accumulation, Alpamayo's impact on advanced autonomous driving features is limited, areas where WERIDE-W (00800.HK) and leading Chinese suppliers maintain structural advantages.

Last Friday (6th), WeRide announced plans to deploy at least 1,200 robotaxis in the Middle East in partnership with Uber by 2027, clearly outlining WeRide's path to commercial scale. Therefore, the broker reiterated rating at Overweight on WeRide's US stock, with a target price of US$17.
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UBS Global Wealth Management Chief Investment Office (CIO) released an investment research report suggesting that, under targeted fiscal expansion and moderately loose monetary policy, China's economic growth should reach 4.5-5% this year. However, it is unlikely that China will introduce significant stimulus measures overall.

In terms of investment, China's support for domestic AI models and chip autonomy will drive Chinese techs, while there are also innovative growth opportunities in healthcare, materials, power equipment and new consumption sectors. Meanwhile, Investors should also allocate to high-dividend financial stocks and resilient consumers.

The People's Bank of China (PBOC) will also continue guiding the RMB towards steady appreciation, with USD/ RMB anticipated to hiked to 6.8 by the end of this year, the report noted.

China's support for tech innovation provides a favorable environment for Chinese enterprises, the report added. With the recent easing of US restrictions on Nvidia (NVDA.US)'s export of its H200 chips to China, there is potential for upward revisions in market forecasts for China's AI capital expenditure.
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CMSI published a research report on Amazon (AMZN.US). The company had announced its financial results for 4Q25, with revenue of USD213.4 billion, representing a 12% YoY hike at CRE. This exceeded the broker's and market's expectations by 1 ppt. Operating profit was USD25 billion, up 18% YoY, topping the broker's and market's expectations by 2% and 1%, respectively.

For the full year 2025, total revenue was expected to mount 12% YoY to USD716.9 billion, with operating profit up 17% YoY to USD80 billion. The company's management guidance for 1Q26 revenue is between USD173.5 billion and USD178.5 billion, with operating profit between USD16.5 billion and USD21.5 billion. Capex guidance for 2026 is USD200 billion, with YoY growth of over 50%.

The target price was raised by 9% to USD292, with a Buy rating upheld.
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Apple (AAPL.US) released its results for 1FQ ended December 2025, which significantly beat expectations, Daiwa published a research report saying. Quarterly revenue was US$143.8 billion, up 16% YoY, far surpassing prediction by US$5 billion. EPS was US$2.84, US$0.17 ahead of forecast.

The strong performance led to a reduction in channel inventory to low levels, with its supply chain facing constraints. The revenue guidance for Apple's 2FQ ending March 2026 indicates a strong YoY revenue growth of 13-16%.

The broker has always viewed Apple's stock as a core tech holding, and the recent results further support this view. Daiwa believed that Apple's greatest advantage lies in its vast and powerful ecosystem.

Although there are concerns about memory supply conditions in 2H26 and 2027, Apple should outperform its competitors. Therefore, the broker elevated its target price from US$300 to US$310, and kept rating at Outperform.
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Major tech companies are scrambling to raise funds this year to address developments in the AI sector, with an estimated over US$660 billion to be invested in chips and data centers, according to the Financial Times.

The unprecedented infrastructure will compel major tech firms to reduce capital returns, potentially utilize cash reserves, or even tap into bond and stock markets to raise funds, analysts said.
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Amazon.com (AMZN.US) will significantly increase its capital expenditure again in 2026, completing the layout of the three major capital expenditure giants, JPMorgan released a research report saying. The US$200 billion capital expenditure is impactful, exceeding Alphabet (GOOGL.US)'s US$175-185 billion and Meta (META.US)'s US$115-135 billion.

Amazon.com previously burned cash in 2021 and 2022 due to COVID-19-related logistics construction but achieved a significant rebound in 2023 and 2024 through network footprint rationalization and regionalization.

Therefore, the broker believed that Amazon.com is willing to endure short-term profit pressure, as it did years ago, to drive major long-term growth opportunities. JPMorgan kept rating at Overweight on Amazon.com, but trimmed its target price from US$305 to US$265, based on a PE ratio of 29x for the 2027 EPS of US$9.04.
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Amazon.com(AMZN.US) delivered solid 4Q25 results, with stable e-commerce, and rapid growth in advertising. AWS's growth rate accelerated from a 17% YoY increase in 1H25 to 24%, CMSI released a research report saying. The expansion of profit margins contributed to a 25% YoY incline in non-GAAP operating profit.

Therefore, the broker kept rating at Overweight for Amazon.com, and chopped its target price from US$301 to US$283, believing that the shift in sentiment towards AI capital expenditure as a good entry opportunity, with Amazon.com's full tech stack advantage and collaboration with Anthropic building competitive edge.
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In January 2026, the average price of discounted new car models in the overall passenger car market in China was RMB248,000, as Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), provided the latest data. The arithmetic average discount reached RMB37,000.

By segment, the average price of discounted new energy vehicle (NEV) models was RMB253,000, with an average discount of RMB38,000, representing a reduction of 14.8%. For internal combustion engines vehicles (ICEVs), the average price of discounted models was RMB238,000, with an average discount of RMB36,000, resulting in a reduction of 15%.
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Samsung Electronics will commence mass production of the sixth-generation high bandwidth memory, HBM4, after the Lunar New Year holiday, becoming the first company globally to achieve HBM4 mass production, Yonhap News Agency reported, citing sources.

Samsung Electronics reportedly decided to start mass production of HBM4 as early as the third week of this month. These products will be used in NVIDIA's (NVDA.US) next-generation AI computing platform, Vera Rubin.

The industry anticipated that NVIDIA is likely to unveil products equipped with Samsung Electronics' HBM4 at the NVIDIA GTC 2026 next month.
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