JPMorgan released a report stating that it reiterates its "shareholding" rating on Meta, raising its target price from $480 to $610. It pointed out that the company has performed well recently and believes that it has made appropriate investments in key long-term plans, especially in AI. The healthy trend in the advertising market supported strong Q2 performance and has continued into Q3. Meta's Q3 revenue guidance is 13%-20% growth, exceeding investor expectations. JPMorgan will increase its capital expenditure forecast for Meta this year by 4% to $40 billion and increase its forecast for next year's capital expenditure by 21% to $52 billion. Meanwhile, it has raised its revenue forecast for this and next year by 2% and 6%, respectively. The estimated Q4 revenue growth for this year is currently 15%.

According to a research report published by J.P. Morgan Chase, the survey showed that Microsoft's total revenue guidelines for the first fiscal quarter were at risk of being lowered. However, optimization and cloud migration, expansion of Copilots and Azure OpenAI Services, and increased capital expenditure investments made the market believe that Azure's prospects have improved. The bank pointed out that during the quarter, the Group's capital expenditure reached 19 billion US dollars, which exceeded the expectations of most investors, and was also the biggest continuous growth in Microsoft's history. Although Azure's growth rate is expected to decline further to around 28 to 29% in the second half of the year, it is expected to accelerate again in the first half of next year. Therefore, the bank has great confidence in the Group's long-term needs. Motong pointed out that although Microsoft has experienced quarterly fluctuations, it believes that its artificial intelligence momentum is still intact, and its long-term development trajectory has not been disrupted. Therefore, it maintains a long-term optimistic view of Microsoft's stock price, and believes that the Group is in a leading position in the AI trend. The bank gave the Group an “Overweight” rating, and the target price was $470.

According to the latest report published by market research institution Counterpoint Research, it is estimated that for every three smartphones sold globally in the first half of 2024, two will have 5G functionality, with a penetration rate of 66.7%.

According to a report released by CICC, Meta's Q2 revenue increased by 22% YoY to $39.1 billion, exceeding market expectations by 2%. Net income increased by 73% YoY to $13.5 billion, exceeded market consensus by 10%. The company expects Q3 revenue to grow by 13-20% YoY to $38.5-41 billion, with the midpoint of the guidance range 1.5% higher than market consensus. CICC raised Meta's revenue forecast by 2% to $161.4 billion and $181.2 billion for this and next year respectively, raised this year's net income forecast by 2% to $54.7 billion, and maintained next year's forecast, as well as the 'outperform' rating, with a target price of $540.

According to the Greenland Group, on July 31, the Greenland Group and the Tianjin State-owned Assets Commission's party committee held in-depth discussions and reached consensus on further deepening pragmatic cooperation, jointly promoting high-quality development of mixed-ownership enterprises and other matters.

A CICC research report indicated that Microsoft's Q4 fiscal year 2024 performance was slightly better than market expectations, with stable growth in downstream customer demand, and most quarters' performance slightly exceeded market expectations. However, the most watched Azure performance fell slightly short of expectations due to softness in the European market. The bank believes in the synergistic effect of Microsoft's cooperation with AI technology reform and believes that the long-term trend is steady and unchanging. It maintains revenue forecasts for FY2025 and FY2026 largely unchanged. Microsoft plans to reduce operating costs in the new fiscal year. After the measure, MS's net profit is expected to rise to 2.1% and 2.3% to $101.9 billion and $118.4 billion. The bank maintains its outperform rating and target price of $490 for the company.

Technology stocks such as CPO, semiconductors, PCB, and consumer electronics are leading the decline, with more than 4,300 stocks falling in the Shanghai, Shenzhen, and Beijing markets.

Nintendo's first quarter net income was 80.954 billion yen, a year-on-year decline of 55.3%.

Goldman Sachs has published a research report stating that Pfizer's performance in the second quarter of this year has improved and provided evidence of the benefits of cost adjustments. Therefore, it raised its target price from $31 to $34 and gave a "buy" rating. Goldman Sachs also lowered Merck's target price from $145 to $140, and likewise gave a "buy" rating. The main reason was Merck's overreaction to lower shipments of its Gardasil vaccine in the Chinese market, while the bank remains optimistic about the company's core oncology business.

Semiconductor stocks in the US stock market fell in overnight trading, with Intel dropping more than 20% after its performance and Nvidia and Taiwan Semiconductor falling nearly 4%. Micron Technology and ASML Holding both fell over 3%, while AMD fell more than 2%.