According to ECONOMY TODAY NEWS on the 9th, there is a significant gap between the revenue forecast of overseas AI leader OpenAI and market expectations. According to a financial document provided to investors, OpenAI's annualized revenue as of the end of September was only close to 50 billion USD, nearly 30% lower than the previously rumored 70 billion USD estimate. U.S. tech stocks generally declined overnight, with Nasdaq plunging over 300 points within half an hour on Thursday afternoon (8th). Related AI sectors in Hong Kong stocks also declined correspondingly, with Zhipu (02513), JTC PCB (01888), and others falling against the market trend. Win Pui Shing, Investment Director at iFAST Global Markets, pointed out during the Economy Today livestream program "Good Morning Market Open" that the 20-billion-USD gap is mainly caused by systematic deviation due to inconsistent measurement criteria, and investors should conduct their own forward-looking analysis based on uniform standards.
Win Pui Shing further stated that the financial document may not reflect problems in the growth outlook of the AI industry. The selling pressure on U.S. tech stocks could be influenced by fund rotation, as capital takes advantage of the panic triggered by this news to lower valuations of AI investment themes and shifts investment focus to traditional financial stocks, thus leading to a rare rebound in several traditional financial stocks on the Dow Jones overnight, helping stabilize its performance. Moreover, as these stocks are about to release earnings, their previous stock price performance has been notably weak, and market tolerance is generally higher. As long as earnings meet expectations, there is a chance for recovery. In the short term, traditional financial stocks could be considered for earnings speculation.
Regarding Hong Kong stocks, Win Pui Shing believes that OpenAI's news will inevitably cause short-term shocks to AI-related stocks such as Zhipu, Alibaba (09988), and SenseTime (00020), but it also provides opportunities to buy at lower levels. For example, Alibaba's stock price has already found support around the 100-HKD level. As for large-model stocks like Zhipu and MiniMax (00100), due to lack of profitability and concerns over market share dilution, volatility risks are higher. If the upward momentum remains, short-term trading for a rebound could be considered, but investors should decisively exit once market sentiment turns negative.
As for the AI hardware sector, TSMC (US.TSM)'s recently announced Q3 results exceeded expectations, reflecting continued market demand for AI hardware, with the fundamental landscape unchanged. However, Win Pui Shing believes that stock prices of related sectors in Hong Kong have risen significantly over the past two months, and a slight pullback recently is normal. Taking JTC PCB as an example, its stock price has recently corrected significantly and currently remains generally above the 20-day moving average. If this level can be held, the stock may stabilize going forward; otherwise, if support is lost, the trading range could shift lower to the 45 to 48 HKD level. (am)
Win Pui Shing further stated that the financial document may not reflect problems in the growth outlook of the AI industry. The selling pressure on U.S. tech stocks could be influenced by fund rotation, as capital takes advantage of the panic triggered by this news to lower valuations of AI investment themes and shifts investment focus to traditional financial stocks, thus leading to a rare rebound in several traditional financial stocks on the Dow Jones overnight, helping stabilize its performance. Moreover, as these stocks are about to release earnings, their previous stock price performance has been notably weak, and market tolerance is generally higher. As long as earnings meet expectations, there is a chance for recovery. In the short term, traditional financial stocks could be considered for earnings speculation.
Regarding Hong Kong stocks, Win Pui Shing believes that OpenAI's news will inevitably cause short-term shocks to AI-related stocks such as Zhipu, Alibaba (09988), and SenseTime (00020), but it also provides opportunities to buy at lower levels. For example, Alibaba's stock price has already found support around the 100-HKD level. As for large-model stocks like Zhipu and MiniMax (00100), due to lack of profitability and concerns over market share dilution, volatility risks are higher. If the upward momentum remains, short-term trading for a rebound could be considered, but investors should decisively exit once market sentiment turns negative.
As for the AI hardware sector, TSMC (US.TSM)'s recently announced Q3 results exceeded expectations, reflecting continued market demand for AI hardware, with the fundamental landscape unchanged. However, Win Pui Shing believes that stock prices of related sectors in Hong Kong have risen significantly over the past two months, and a slight pullback recently is normal. Taking JTC PCB as an example, its stock price has recently corrected significantly and currently remains generally above the 20-day moving average. If this level can be held, the stock may stabilize going forward; otherwise, if support is lost, the trading range could shift lower to the 45 to 48 HKD level. (am)
