<h3>Credit Suisse: Maintains a &#34;Buy&#34; rating on Li Auto with a target price lowered from HKD 239.34 to HKD 141.43</h3>
<p>The report states that based on Li Auto's updated full-year sales guidance and recent price cuts, the focus of the first quarter's performance will be on pricing strategies and second-half product plans. The aggressive price cuts by Huawei reflect an inevitable price war, but the company has ample cash reserves and strong execution capabilities, which are believed to enable it to survive in adverse conditions.</p>
<p>The bank expects Li Auto's first-quarter revenue to increase by 30% year-on-year to RMB 25.4 billion, taking into account the clearance of old L series inventory and the need to offer discounts on the new L series to some owners. The gross profit margin for the first quarter is estimated to drop by 3.2 percentage points to 20.3% on a quarterly basis, with the new L6 expected to sell approximately 15,000 units per month.</p>
<h3>Canadian Investment Bank Group: Maintains a &#34;Buy&#34; rating on Apple with a target price raised from $200 to $215</h3>
<h3>Morgan Stanley: Lowers AMD's target price from $177 to $176, maintains &#34;Overweight&#34; rating</h3>
<p>The bank points out that the long-term competitive issues between the company and Nvidia still need time to be answered. AMD raised its full-year artificial intelligence business revenue forecast to $4 billion, in line with market expectations, and also disclosed positive developments such as better-than-expected supply chain performance, continued demand expansion, and deep cooperation with major cloud customers. It also disclosed plans for new products in the second half of the year.</p>
<p>However, the bank is concerned that market expectations for chip sales may be too high and notes that the company has reiterated that not all supplies in the current fiscal year will translate into revenue. Nvidia's aggressive stance on the B200 chip may force the company to innovate. The bank remains optimistic about AMD's core business and expects significant market share growth in customers, servers, and field-programmable gate arrays (FPGAs) in the next 18 months.</p>
<h3>Morgan Stanley: Maintains a &#34;Market Perform&#34; rating on Pfizer with a target price raised from $28 to $29</h3>
<p>The report highlights Pfizer's first-quarter performance exceeding expectations and reaffirming revenue guidance for the year ranging from $58.5 billion to $61.5 billion (with a median of $59.5 billion), compared to the bank's latest expectations and market expectations of $61.3 billion and $59.9 billion, respectively.</p>
<p>The company also raised its earnings per share forecast guidance for the year from $2.05 to $2.25 to $2.15 to $2.35 (with a median of $2.25), indicating confidence in its cost restructuring plans and core business. The bank's latest forecast and market expectations are $2.57 and $2.21, respectively.</p>
<p>The bank cited Pfizer management's cautious optimism about the outlook for the rest of the year, including in terms of gross margins.</p>
<h3>UBS: Raises Amazon's target price from $215 to $217, maintains a &#34;Buy&#34; rating</h3>
<p>The bank stated that Amazon's management did not provide capital expenditure guidance for the year, and investors' assessment of capital expenditures for the cloud business after the company's first-quarter earnings call is expected to be significantly higher than previous estimates.</p>
<p>The bank views these developments positively, as Amazon and its cloud services have operated for over 18 years, making them proficient in demand forecasting and equipment procurement, allowing them to deploy assets in real-time. Higher capital expenditures are also seen as a stronger signal of the bank's more bullish outlook for the second quarter and beyond for cloud services
Goldman Sachs: Lowered the target price of Super Micro Computer Inc. (SMCI) from $937 to $800, with a &#34;Neutral&#34; rating.</p>
<p>The report indicates that Super Micro Computer's performance in the third quarter of the 2024 fiscal year roughly met expectations, with revenue at $3.85 billion, compared to the forecast of $3.96 billion; gross profit reached $601 million, compared to the forecast of $593 million. In addition, the group has raised its revenue guidance for the 2024 fiscal year to between $14.7 billion and $15.1 billion, implying an estimated revenue of $5.1 billion to $5.5 billion for the fourth quarter.</p>
<p>However, the company anticipates a decrease in gross margin on a quarterly basis due to increased sales costs associated with the upcoming shipment of liquid cooling components. The bank stated that although there are market concerns about AI server sales and potential margin dilution from industry competition, Super Micro Computer has reiterated its long-term gross margin target of 14% to 17%. The bank believes that the increase in product costs due to liquid cooling should normalize over time. Additionally, the group mentioned the possibility of needing additional capital to support growth.</p>
<p>Furthermore, Super Micro Computer expects to deliver over 1,000 NVIDIA HGX AI supercomputers with direct liquid cooling (DLC) systems to three leading customers in the fourth quarter. The group stated that the monthly production volume of its AI servers is expected to exceed 2,000 DLC systems. The bank indicated that considering the high profit margin prospects for Super Micro Computer, the average earnings per share forecast for the fiscal years 2024 to 2026 has been raised by 7%.</p>
<p>Wade Bush: Raised the target price of Coinbase from $200 to $250</p>

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<p>Furui has lowered its target price for Li Auto's Hong Kong stock from HKD 239.34 to HKD 141.43. It is believed that the focus of the first quarter performance will be on pricing strategies and the product plan for the second half of the year. Huawei's price reduction strategy reflects an inevitable price war, but the company has ample cash reserves and strong execution capabilities, which are believed to enable it to survive in the headwinds</p>

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Rating Quick Look | Li Auto, SMIC Target Prices Slashed Significantly! Apple, Amazon, Coin Receive Positive Outlook