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Tech, Media & Telecom Roundup: Market Talk
The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0806 GMT – Lombard Odier says it no longer prefers Chinese tech companies over their U.S. peers, as their relative growth and valuation appeal has narrowed. China has emerged as the sole credible challenger to the U.S. in the race for artificial-intelligence leadership. However, fading tailwinds from China’s consumer goods trade-in subsidies, rising AI-related investment and higher memory prices have contributed to renewed earnings disappointments and downgrades for Chinese tech companies following fourth-quarter results, Lombard Odier’s equity strategists say in a report. This is damping the near-term cyclical backdrop for Chinese tech companies, they say. However, the structural earnings outlook for Chinese tech companies remains compelling, with attractive valuations providing a buffer against potential earnings disappointments, they add. (monica.gupta@wsj.com)
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