<h3>CMB Securities: Alibaba's GMV resumes double-digit growth, Hong Kong's major listing imminent, maintains &#34;strong buy&#34; rating</h3>
<p>The bank stated that Alibaba's GMV has resumed double-digit growth, and Hong Kong's major listing is imminent. Among them, Taotian Group's GMV and CMR growth rates have improved, and investment strategies are beginning to show results. International digital business revenue maintains high-speed growth, with increased investment losses expanding. Cloud Intelligence Group's revenue growth is expected to continue to improve, with AI contributing to high-speed growth.</p>
<p>In addition, Alibaba Group is expected to complete the conversion to a dual primary listing on the Hong Kong Stock Exchange by the end of August 2024, with subsequent access. CMB Securities is optimistic about Alibaba's e-commerce core business's solid competitive strength, as well as the long-term growth potential of international business and cloud business, maintaining a &#34;strong buy&#34; rating.</p>
<h3>Guojin Securities: Tencent's gross profit margin significantly optimized, high-quality profit released, maintains &#34;buy&#34; rating</h3>
<p>The bank believes that Tencent's gross profit margin significantly optimized in the first quarter, with high-quality profit released. Game total revenue recovered growth in Q1, and the launch of new games + deferred release of old games will drive a rebound in Q2. Rapid growth in advertising products such as Video Number, with advertising effects benefiting from AI technology platform upgrades.</p>
<p>Therefore, the Guojin Securities team expects the company's NON-IFRS net profit for 2024/2025/2026 to be RMB 204.3 billion, RMB 228.9 billion, and RMB 256.9 billion respectively, maintaining a &#34;buy&#34; rating.</p>
<h3>KeyBanc: Soft April iPhone demand, gives Apple a &#34;hold&#34; rating</h3>
<p>The bank stated that a survey of iPhone carriers showed a 21% month-on-month decrease and a 14% year-on-year decrease in sales data last month. Demand for iPhone 15 Pro and Max remains &#34;relatively elastic,&#34; but demand for iPhone 15 and iPhone 15 Plus remains soft. Inventory remains stable, indicating a &#34;healthy&#34; level.</p>
<h3>Wedbush: Reiterates &#34;outperform&#34; rating on Sea, with a target price of $72</h3>
<h3>Wedbush: Raises Angpao's target price from $35 to $40, maintains &#34;outperform&#34; rating</h3>
<h3>Evercore ISI Group: Initiates coverage on Moderna for the first time, gives it a &#34;market perform&#34; rating, with a target price of $120</h3>

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<p>CMB Securities is optimistic about Alibaba's e-commerce core business maintaining its competitive strength and the long-term growth potential of its international business and cloud business, maintaining a "strong buy" rating. Guotai Junan Securities believes that Tencent's gross profit margin has been significantly optimized, with high-quality profit release, maintaining a "buy" rating</p>

Rating Quick Look | Alibaba "Strong Buy", Tencent "Buy"! Apple faces pessimism?