To The Moon

1. Executive Summary While many investors are worried that the market has run too far, too fast, Goldman Sachs is taking the opposite view. The investment bank recently reaffirmed its bullish outlook on U.S. equities, arguing that strong earnings growth, AI-driven productivity gains, and resilient economic conditions continue to support higher stock prices. Goldman believes the current rally remains fundamentally driven rather than purely speculative. 📌 Key Insight: The bull market is no longer being driven solely by optimism. Earnings are doing the heavy lifting. 2. Why Goldman Remains Bullish The biggest reason behind Goldman's confidence is corporate earnings. According to the bank, the median company reported earnings growth of approximately 14%, making it one of the strongest earnings

$S&P 500(.SPX)$ ROE hit a record high of 22%, but the capital expenditure boom of AI giants will systematically drag down the earnings quality of the seven major tech stocks in the coming years. Market Snapshot $SPDR S&P 500 ETF Trust(SPY)$ : 📈 Closed up 754.83 (+1.8%, previous close 741.75) [Data as of 06/16 05:05 EDT] | Pre-Market: $754.56 (-0.04%) $Invesco QQQ(QQQ)$ : 📈 Closed up 744.00 (+3.1%, previous close 721.34) [Data as of 06/16 05:05 EDT] | Pre-Market: $745.15 (+0.15%) $SPDR Dow Jones Industrial Average ETF Trust(DIA)$ : 📈 Closed up 518.44 (+1.0%, previous close 513.06) [Data as of 06/16 05:05 EDT] | Pre-M

[Key Takeaway] Top macro strategist Hong Hao on Tencent and China tech majors: Not bearish, even slightly bullish. But this isn't a blind "buy the dip" call. His more nuanced view: the current selloff isn't the "end of a mispricing" — it's a necessary phase in a valuation logic transition. 1. Stock Price Pressure ≠ Fundamental Deterioration Hong Hao makes it clear: "The stock price pressure is unrelated to company fundamentals." What does this mean? Tencent's earnings power and business model haven't been disproven. The market isn't worried about WeChat's monetization or the gaming license pipeline. The selloff is driven by sentiment, narrative shifts, and capital flows — indiscriminate selling as global allocators rebalance portfolios and market themes rotate. 2. "Buy Good Companies When

Tiger Research Team maintains a BUY rating and an unchanged $35.00 Price Target on JD.com after cutting 2Q26E revenue by 7% to reflect a sharp April deterioration in big-ticket retail momentum. The single most important strategic takeaway: while electronics and home appliance demand is cracking faster than expected, Tiger Research Team is holding the margin floor steady by cutting variable costs proportionally, suggesting the investment case shifts from top-line acceleration to margin resilience in a soft macro. 📊 Section 1 — Lead / Setup Tiger Research Team maintains a BUY rating and an unchanged $35.00 Price Target on $$JD.com(JD)$$ following a model update that cuts 2Q26E revenue by 7% after April China retail data showed a clear

Tiger Research Team maintains a BUY rating and $30.00 Price Target on $Bilibili Inc.(BILI)$ after 1Q26 delivered in-line headline revenue with significantly better quality underneath. The single most important strategic takeaway: advertising growth accelerated to 30% y/y while AI-driven creator tools and recommendation efficiency began showing measurable traction, reinforcing the platform's monetization flywheel. With gross margin expanding for the 15th consecutive quarter and a deepening 2H game pipeline adding optionality, the risk-reward remains asymmetrically positive despite near-term mobile game headwinds. 📊 Section 1 — Lead / Setup Tiger Research Team maintains a BUY rating and an unchanged $30.00 Price Target on

1. Lead / Setup 📊 Tiger Research Team maintains BUY rating and increases Price Target to $160 (from $150) as $$Baidu, Inc.(BIDU)$$ reports a strong 1Q26 that reinforces the view that the company is increasingly transitioning from a legacy search/advertising business into an AI infrastructure and application company. Headline revenue of RMB32.1bn was 2% above consensus and 5% above their estimate, while GAAP operating income, EBITDA and non-GAAP EPADS all beat their estimates. 👇 The Resilience: Despite continued weakness in legacy advertising, Baidu's strategic pivot to AI is accelerating. The most important incremental point is that AI is now the majority of Baidu's core revenue base for the first time. Baidu Core AI-powered Busine

Hi Tigers 🐯, Welcome to "What the Tigers say." 👋 NVDA's latest earnings call just released, and it is the move driving this week's tape! The company delivered a massive beat with a record-high revenue of $81.6 billion—up 20% sequentially and 85% year-over-year—significantly exceeding Wall Street expectations of $78.8-$79.2 billion. That's the backdrop for today's question — Nvidia Beats Estimates, 75% Margin! Is $220 Just the Starting Point？ — and three Tigers have already staked out different reads, from @nerdbull1669, @TheBeautyofOptions, and @Shyon : 1. nerdbull1669 | Why Nvidia

$NVIDIA(NVDA)$ (GS Buy, Target Price $250 (New), Rating Maintained) This is a pre-earnings preview note. GS reiterates its Buy stance ahead of the earnings release. Current reference price: $207.83; target price: $250; implied upside: 20.3%. GS expects this quarter to be a "beat-and-raise" quarter, but believes the bar for the stock to outperform the broader market is quite high. Market expectations have already been significantly lifted by positive supply-chain data from $Taiwan Semiconductor Manufacturing(TSM)$ and $SK Hynix, Inc.(HXSCL)$ , as well as upward revisions to CapEx by hyperscale cloud providers. Two key signals in this report deserve close attention

👋 Hey Tigers! The F4Q26 earnings report for $Alibaba(BABA)$ is in. Here's what the Tiger Research Team is saying: 👉 Maintain BUY rating 👉 Price Target maintained at $175 📈 👉 Latest Price as of May 13th: $144.22 The quarter was strategically encouraging but financially messy — revenue and profits missed estimates meaningfully, yet AI and cloud commercialization showed acceleration. Here's the breakdown 👇 1. F4Q26 Financial Check: The Numbers vs. Estimates 📉 Revenue: 📊 Revenue of RMB243.4bn was 4% below Tiger estimates (RMB253.5bn) and 1% below consensus (RMB247.0bn) The miss was partly due to reclassification of certain merchant subsidies from sales & marketing expense to contra-CMR Profitability (the main negative): 📉 Gross profit of RMB84.0bn

👋 Hey Tigers! The 1Q26 earnings report for Tencent Holdings ( $TENCENT(00700)$ ) is in. Here's what the Tiger Research Team is saying: 👉 Maintain BUY rating 👉 Price Target decreased to HK$690 (was HK$700) 📈 👉 As of May 13th Price: HK$457.20 The quarter was strategically positive and financially solid — revenue was slightly light on timing, yet profits beat estimates. More importantly, core businesses remain highly cash generative while AI is moving from a broad strategic narrative into visible product deployment and early monetization. Here's the breakdown 👇 1. 1Q26 Financial Check: The Numbers vs. Estimates 📊 Revenue: 📊 Revenue of RMB196.5bn was 3% below Tiger estimates (RMB203.2bn) and 1% below consensus (RMB197.6bn) The miss was partly due to