Interactive Media and Services

Meta Platforms

Today’s Key News Recap

COST

BYTED

MET-A

MET-E

MET-F

03690

83690

HMTD

MPNGY

NFLX

00941

80941

HCMD

600941

000333

00300

01364

0327 | Dolphin Research Focus: 🐬 Macro/Industry. Trump said on Thu, Mar 26 on social media that, at Iran's request, planned strikes on Iran's energy facilities would be pushed back 10 days to 8pm ET on Apr 6.He had earlier moved the 48-hour ultimatum issued on Mar 21 out by five days to Mar 27. Iran denied making a direct request, saying there had only been indirect information exchanges, per today's headlines.Given the current setup, a substantive agreement before Apr 6 looks unlikely. Even after the extension, military escalation could still resume, and the geopolitical risk premium has not fully cleared...

Costco Wholesale

Unity Software

ByteDance

MetLife

METLIFE INC PRF SERIE 'A' FLOATING RATE USD25

METLIFE INC 5.625% NON CUM PRD STK SER E

METLIFE INC 4.75% DEP SHS EA REP NN CUM PFD ST SER F

MEITUAN

MEITUAN-WR

Meituan HK SDR 5to1

Meituan

Netflix

CHINA MOBILE

CHINA MOBILE-R

CN Mobile HK SDR 5to1

China Mobile

Midea Group

MIDEA GROUP

GUMING

U Surges on Strong Results; META Doubles Down on AI Race | Daily News Recap

GOOGL

CVAC

GOOG

09992

HPPD

INTC

04335

01211

81211

HYDD

002594

BYDDF

BYDDY

0326 | Dolphin Research Focus: 🐬 Macro/Industry 1) Data show U.S. import prices rose 1.3% MoM in Feb, beating the 0.5% consensus and marking the biggest increase since 2022, driven by higher fuel and rising import costs for AI-related semiconductors and computers. The print signals a clear pickup in imported inflation, with signs of a second leg up, and higher import costs are likely to pass through to consumer prices. On the same day, Fed Governor Michael Barr said rates will stay on hold until there is sustained progress toward 2% inflation...

Alphabet

Citigroup

CureVac BV

Alphabet - C

POP MART

POP MART HK SDR 20to1

Intel

INTEL-T

BYD COMPANY

CITIGROUP INC 6.250 NON CUM SER II PFD WI

BYD COMPANY-R

BYD HK SDR 10to1

BYD Company Limited

BYD Company

SpaceX IPO Push: Latest Update; GOOGL Unveils AI Memory-Compression Game-Changer | Daily News Recap

Tencent

Financial Analysis

00700

80700

TCEHY

TCTZF

01698

HTCD

After the Hong Kong close on Mar 18 (Beijing time), $TENCENT(00700.HK) released its 2025 Q3 results. Overall, the print was largely in line with no major surprises, though some line items came in slightly off expectations.Against the backdrop of the current AI transformation window, management’s guidance on this year’s investment and growth matters more than the reported quarter. This will be more critical for mid-term valuation.Specifically: 1) Games delivered and are expected to remain the core growth driver this year. The current product cycle is strong, with new titles performing and evergreen franchises supporting durability. Q4 revenue rose 21%...

TENCENT

TENCENT-R

Tencent Holdings Limited

TME-SW

Tencent Music

Tencent HK SDR 10to1

TCEHY: Time to Ditch the Boomer Vibe, Turn Up the Heat on AI!---

MSFT

01810

81810

HXXD

XIACY

00100

LULU

01179

HTHT

ATAT

0318 | Dolphin Research Watchlist: 🐬 Macro/Industry 1) The Fed kicked off its two-day FOMC meeting on Mar. 17 local time. The market broadly expects the policy rate to stay at 3.50%–3.75%.However, sticky inflation (PPI at 2.9%) and a Middle East-driven oil spike (WTI above $100) are tightening expectations for 2026 cuts. Investors are dialing back the number of cuts priced in. If the dot plot due on the 18th indicates just one cut in 2026—or none at all...

Microsoft

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

MINIMAX-W

Micron Tech

Lululemon

HWORLD-S

H World

Atour

MiniMax debuts M2.7, shows a 'self-evolving' model; META trims 'metaverse' again | Daily News Recap

NVDA

VERA

00772

09988

89988

HBBD

BABA

02423

BEKE

MAAS

AAPL

09863

02076

0317 | Dolphin Research Focus: 🐬 Stock #1, $NVIDIA(NVDA.US) — NVIDIA's GTC 2026 officially kicked off, and founder &amp; CEO Jensen Huang delivered the keynote.He announced a Vera Rubin Space Module under the next-gen Vera Rubin architecture, designed for orbital data centers, delivering 25x performance vs. H100.He also unveiled a partnership with Groq to co-develop new LPU chips...

MediaAlpha

NVIDIA

Vera Therapeutics

CHINA LIT

BABA-W

BABA-WR

Alibaba HK SDR 5to1

Alibaba

BEKE-W

Maase 

Apple

LEAPMOTOR

BOSS ZHIPIN-W

Kanzhun

Apple Group

NVDA GTC in focus; Alibaba 'Token strategy' ramps up | Daily News Recap

K3SD

603020

GOLD

09866

02015

06181

HLPD

BIDU

89888

09888

HBUD

0312 | Dolphin Research Watchlist.🐬 Macro/Industry 1) The U.S. will release Feb CPI at 20:30 Beijing time on Wed, a key input for the Fed's rate-cut path. Recent Middle East tensions have lifted oil prices, increasing uncertainty around the print.An upside surprise could push back cut expectations and weigh on growth stocks. In-line or softer readings would be supportive of risk assets.🐬 Single Stock 1) $Meta Platforms(META.US) Meta announced the acquisition of AI agent community Moltbook. It is known in the industry as the 'Lobster Community'...

BIDU ADR US

ETFS Capital Ltd.

Gold.com

NIO-SW

NIO Inc. USD OV

NIO Inc

LI AUTO-W

Li Auto

LAOPU GOLD

Laopu Gld HK SDR 50to1

Baidu

BIDU-SWR

BIDU-SW

Baidu HK SDR 10to1

META secures 'Shrimp Pool' Moltbook; Laopu Gold issues a positive profit alert on strong earnings | Daily News Recap

Broadcom

Conference Minutes

AVGO

OpenAI

DXYZ

Dolphin Research's summary notes from Broadcom's FY2026 Q1 earnings call. For our take on the print, cf. '博通 AVGO：AI 火力全开，英伟达对头更飒？'. $Broadcom(AVGO.US) Key takeaways:1) AI biz.: (i) AI revenue rose 106% YoY in Q1; Q2 guide accelerates to +140% YoY to $10.7bn. (ii) AI networking revenue grew 60% YoY in Q1, accounting for one-third of AI revenue; Q2 is expected to ramp sharply...

Destiny Tech100

AVGO Trans: AI revenue to top 100bn by 2027; XPU collaboration is sustainable---

AVGO released Q1 FY26 results (ended Jan 2026) after-hours on Mar 5 (Beijing time). 1) Overall performance: revenue was $19.3bn, +29% YoY, in line with market expectations ($19.2bn).Revenue rose $1.3bn QoQ, mainly driven by AI. GPM was 68.1%. Excluding acquisition-related amortization and restructuring charges, Adj. GPM was 75.8%...

AVGO: AI firing on all cylinders; a fiercer rival to NVDA?---

AVGO First Take: revenue and GPM met expectations this quarter. Top-line growth was driven by AI. On a business basis, GPM was 75.8% after excluding acquisition amortization and restructuring, ticking down QoQ on mix shift as lower-margin ASIC contributed more. For next quarter, the company guides revenue to $22bn, up $2.7bn QoQ, above the Street (~$20.8bn). Growth again comes from AI. 1) Acquisition impact: Total Debt/LTM Adj. EBITDA fell to 2, back to pre-deal levels. The debt impact from the VMware acquisition has been absorbed within two years. 2) AI performance: AI revenue was $8.4bn this quarter, +$1.9bn QoQ. Mgmt guides AI revenue to $10.7bn next quarter, +$2.3bn QoQ, above the Street (~$9.7bn). With AI as the main driver, AVGO is in an earnings upcycle. Coupled with capex outlooks at Google and Meta, rapid AI growth into 2026 looks highly visible. Yet despite Big Tech raising capex, the stock has traded sideways, as the market questions sustainability. Meta's 2026 capex is projected to exceed half of annual revenue, leaving limited room to push higher. AVGO and NVDA have recently seen strong results but multiple compression, and beyond beat-and-raise guidance, investors want clearer commitment from mgmt on sustained mid-to-long-term growth. For detailed follow-ups, please track Dolphin Research's upcoming commentary and Trans. $Broadcom(AVGO.US)

02319

CIADY

09868

XPEV

0225 | Dolphin Research Key Watch: 🐬 Macro/Industry 1) Today, Hong Kong Financial Sec. Paul Chan unveiled the FY2026/27 Budget, focused on I&amp;T and finance, with measures to support the AI industry, advance RMB internationalization, improve livelihoods, and develop the Northern Metropolis. On hard tech, the HKSAR Gov. will set up a HK$10 bn I&amp;T Industry Co-investment Fund, targeting strategic areas including life sciences &amp; healthcare, AI and robotics. The Budget projects Hong Kong GDP growth of 2.5%-3.5% in 2026...

Kimball Electron

MENGNIU DAIRY

Mengniu Dairy

XPENG-W

XPeng

HK Budget Ups I&T; META, AMD Seal 100bn-Class Compute Deal | Daily News Recap

---

Meta to lay off 168 employees in Washington state

Corning and Meta Celebrate Cable Manufacturing Expansion Groundbreaking

Meta Platforms Faces Antitrust Lawsuit by Phhhoto

Arm launches its in-house AI chip, with Meta as its first key customer

META and MPA Reach Agreement Allowing Teen Accounts PG-13 Content

Synergy Asset Management LLC's 13F filing shows a significant reduction in its Meta Platforms stake

META Launches New AI Glasses on April 14

EssilorLuxottica and Meta expand AI glasses portfolio with new Ray-Ban Meta optical styles

Meta Integrates AI into Risk Review Program Core

Moffett Nathanson downgrades Meta target price to $710

Meta bets on nuclear energy to support its AI and data center development

Meta's stock rebounds after investing in natural gas power plants to support AI projects

Meta Platforms(META.US)

Meta Platforms Stock Performance Chart