Temu Owner PDD Posts Revenue Miss, Warns of Slowing Sales
Shanghai Telecom apologizes for the "broadband outage"; Apple announces that Kevan Parekh will serve as CFO; Musk says California, USA should "reasonably" approve the AI safety bill | AI Daily Morning News
①IBM has confirmed the closure of its research and development department in China; ②Apple will hold a product launch event on September 9th local time, with new devices such as the iPhone 16 expected to be released; ③French President Macron: the arrest of the Telegram founder is by no means for political reasons.
Goldman Sachs remains bullish on PDD Holdings: Q2 growth is still one of the fastest, the PE ratio below 10 reflects concerns, even Temu did not provide valuation.
Goldman Sachs strongly supports PDD Holdings, believing that a P/E ratio of less than 10 times already reflects concerns about intensified domestic competition and geopolitical issues, and the continued growth momentum of PDD Holdings. It gives a buy rating and sets a 12-month target price of $184.
US stocks close: Dow hits new high, technology stocks drag S&P and Nasdaq down, pdd holdings plunges nearly 30%.
① The three major indices rose and fell unequally; ② Semiconductor stocks generally declined, with the PHLX Semiconductor Index down 2.51%; ③ Most popular China concept stocks closed lower, with PDD Holdings plunging over 28%; ④ Apple will hold a product launch event on September 9th local time, and new devices such as iPhone 16 are expected to be released.
PDD Holdings Analyst Ratings
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pdd holdings' stock price fell 30% during trading.
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Temu Parent PDD Shares Dived 30% on 2Q Revenue Miss, Outlook Commentary
PDD Holdings Inc. (PDD) Q2 2024 Earnings Call Transcript Summary
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PDD Holdings conference call: Prepare to sacrifice short-term profits, no dividends or buybacks in the coming years.
pdd holdings management also stated that under intense competition, the company's revenue growth may slow down, and profits in the next few quarters may fluctuate and rebound, but the trend of long-term profit decline is inevitable.
Market Mover | Shares of Temu Parent PDD Slump 26% After Q2 Financial Results
pdd holdings plunged 17% pre-market, with mixed moves in the three major U.S. stock index futures | Tonight's highlights
①Pdd holdings continue to increase investment to deal with industry competition; ②Netherlands fines Uber over $0.3 billion; ③Xiaopeng self-developed chip production for AI customized design; ④Trump claims that if elected, it may not allow Musk to serve in the cabinet.
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