LENOVO GROUP (00992.HK) -0.100 (-0.876%) Short selling $100.47M; Ratio 10.538% opened 3.54% higher today and widened its gains to peak at $11.44, up 12.38% at one point, setting a new high since March 2021. It last traded at $11.38, up 11.79%, on 78.131 million shares traded, involving $867 million.
Microsoft (MSFT.US) , at the Build 2024's developer conference, announced a new "Copilot + PC" concept, partnering with Qualcomm (QCOM.US) . With Snapdragon X series processors, it launched a new generation of AI PC, featuring thin and light, longevity and efficient execution of AI tasks.
Various brands of "Copilot + PC" concept were revealed, among which Lenovo launched two Copilot+ PCs for creators and business users, which will go on sale in June and July respectively.
Morgan Stanley released a report on the event, upgrading LENOVO GROUP from Equalweight to Overweight, raising the target price from $9.1 to $15, and naming it as the sector top pick. The broker said the stock is undervalued in the market,
The broker expected that AI PCs will start to rise from 2H24, and their advantages will be remarkable. Morgan Stanley's base case assumed that AI PC penetration will remain at less than 5% in 2024, but will rise to around 64% by 2028.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-23 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
