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.
1216 ET [Dow Jones]--OpenAI's move to refocus on its enterprise business sets the stage for an enterprise artificial-intelligence battle over the coming year, Truist analysts write in a note. While Anthropic currently seems like a leader in enterprise, OpenAI's Codex has annual recurring revenue potentially nearing $2 billion, and the impressive showing of GPT-5.4 could position the company to take share from Claude Code and Cursor. Both Anthropic and OpenAI are using forward-deployed engineer strategies to drive enterprise adoption, the analysts note. Other companies are also positioned to compete for the enterprise business, including Palantir and Microsoft. News Corp, owner of The Wall Street Journal and Dow Jones Newswires, has a content-licensing partnership with OpenAI. (elias.schisgall@wsj.com)
0847 ET - Delivery Hero's deal to sell its delivery platform business in Taiwan to Grab fetched a good price and marks the first milestone in the company's strategic review process, J.P. Morgan analysts say in a research note. "We see the $600 million as a solid price well above market expectations," the analysts say. The German food-delivery company's deal provides evidence of management's ability to sell assets for prices above expectations, as the company has faced increased pressure to unlock value through disposals, they say. "While we welcome the move, it remains small in the wider context and 'big deal' scenarios (Korea, other MENA, Talabat) appear unlikely at this stage," according to JPM. Shares trade 7.5% higher at 16.44 euros. (sarah.sloat@wsj.com)
0405 ET - Poste Italiane's $12.5 billion bid to buy Telecom Italia could boost value, while the publicly traded portion of its shares will jump to 15 billion euros, from around 10 billion euros currently, Berenberg analyst Michael Huttner says. Although the deal dilutes the EBIT contribution of Poste's insurance business to 33% from 48% last year, it reinforces its ability to cross-sell on multiple platforms, Huttner says. "We envisage over 20% upside to our price target," he says. This is supported by an attractive 2026 dividend yield of 6.1%, and expected sustainable dividend growth of more than 6% a year, Huttner says.(anthony.orunagoriainoff@dowjones.com)
0303 ET - Singapore's technology stocks have room to rerate higher, say DBS Group Research analysts in a note. The technology sector appears supported by strong artificial-intelligence-driven demand and resilient earnings growth. Stock valuations are still at discounts to U.S. peers despite trading near cyclical highs, they add, suggesting that growth hasn't been fully priced in. A robust AI outlook, seen through developments such as U.S. tech giant Nvidia targeting $1 trillion in revenue by 2027, is likely to reinforce the Singapore tech sector's upbeat prospects. Semiconductor-solutions providers such as AEM Holdings and UMS Integration are DBS's preferred picks, while digital brokerage iFAST's recurring revenue model offers stability alongside cyclical semiconductor-related stocks.(megan.cheah@wsj.com)
0242 ET - AEM Holdings looks well-positioned to ride the growing system-level test market, DBS Group Research's Amanda Tan says in a research report. New technology is driving growth in test-related spending, leading to higher demand for AEM's system-level test solutions in the long term, the analyst says. The company is also at the cusp of a multiyear solutions rollout for new clients, with contributions from fabless AI customers expected to more than double in 2026. DBS raises the stock's target price to S$4.60 from S$3.30 based on an estimated 32 times 2027 earnings to better reflect a more representative earnings base, while maintaining a buy rating. Shares are 5.4% lower at S$3.88. (ronnie.harui@wsj.com)
2310 ET - Tencent's cloud revenue growth could accelerate in 2026 on more aggressive AI investment, Nomura analysts say in a note. Tencent's cloud revenue has lagged behind rivals such as Alibaba and Bytedance due to underinvestment in GPUs to fulfill ever-rising demand from clients, they say. Nomura estimates that Tencent's cloud revenue could grow 20% in 2026, up from estimate growth of 16% in 2025. "In view of the current robust demand for AI cloud services, we are not concerned that Tencent's deeper involvement in the AI cloud market would lead to irrational competition." Nomura maintains a buy call on Tencent but lowers its target price to HK$727.00 from HK$775.00 due to temporary margin pressure. Shares are last at HK$500.50. (sherry.qin@wsj.com)
1950 ET - LG Electronics is set to stage a strong earnings rebound in 1Q, HSBC's Ricky Seo writes in a research note. The South Korean consumer electronics giant is likely to see narrower losses in its TV business and solid margins from its auto-component unit, supported by steady infotainment and e-powertrain shipments in the January-March period, the analyst says. A potential turnaround to profit at its flat-panel affiliate is also expected to support its bottom line, he adds. HSBC expects LG to post a 1.6 trillion won operating profit in 1Q after an estimated 109 billion won loss in 4Q 2025, and to stay on track for full recovery in 2026. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
March 23, 2026 12:20 ET (16:20 GMT)
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