To The Moon

👋 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

$Astera Labs, Inc.(ALAB)$ A reported 1Q26 results on May 6, with revenue, gross margin, operating margin, and EPS all beating consensus. The company guided 2Q26 revenue of $360M (+17% QoQ), significantly above consensus of $310M. JPMorgan raised its price target to $280 (from $205) and reiterated Overweight, signaling that the AI high-speed interconnect sector has entered a new phase driven by product portfolio expansion. I. 📌 Consensus One: AI Infrastructure Remains the Core Engine View: The AI compute arms race shows no signs of deceleration; cloud and hyperscaler customers continue aggressive capacity build-out. Logic: 1Q26 revenue of $308.4M (+14% QoQ, +93% YoY) and 2Q26 guidance of $360M (+17% QoQ, +88% YoY) both significantly exceeded consen

Capital_Insights | May 5, 2026 | 12:30 PM ET 1. Executive Summary Stocks are climbing toward all-time highs as crude oil slides more than 3%, unleashing a wave of risk appetite. S&P 500: +0.6% NASDAQ: +0.7% Dow Jones: +248 points The cooling oil price triggered a "buy-the-dip" mentality. The 10-year Treasury yield pulling back to 4.42% added fuel to the fire. Meanwhile, earnings continue to provide individual stock catalysts. 2. Thesis Validation Pre-market narrative: "Oil is still elevated + Hormuz isn't resolved — can this rally last?" Mid-day verdict: Yes. The ceasefire remains in place. Brent crude dropped from yesterday's $115 handle, giving sidelined capital a green light to step back in. 📌 Key insight: When oil drops, dip buyers wake up. Simple as that. 3. Key Intraday Levels ET

Recently, two heavyweights on Wall Street have spoken out—legendary trader Paul Tudor Jones and JPMorgan Chase CEO Jamie Dimon. This is not alarmism or fear-mongering; it is an effort to lay out the most genuine vulnerabilities in the current market for the average investor to see. Is the US Stock Market Expensive? Look at This "Heart-Wrenching" Data A 50-year market veteran, Paul Tudor Jones, who lived through the 1987 crash, the 2000 dot‑com bubble and the 2008 financial crisis, has warned that while the S&P 500 is a strong long‑term investment, its century‑average includes P/E ratios of just 6%–8% ，one‑third of today’s level. He stresses valuations matter greatly, and the market is highly overvalued. U.S. stock market capitalization now stands at 252% of GDP, far exceeding levels be

👋 Hey Tigers! The 1Q26 earnings preview for $Coinbase Global, Inc.(COIN)$ just dropped, and there's a notable shift in tone. 🔄 Current market vibes: Volume softness vs. a more constructive BTC backdrop 🤔 Here's what the Tiger Research Team is saying: 👉 Maintain HOLD rating 👉 Price Target RAISED to $200 (previously $170) 📈 👉 Current Price: $195.26 While near-term trading volumes are weak and stablecoin regulation looms, the team is now incrementally more constructive on Bitcoin's outlook. Here's the breakdown 👇 1. 1Q26 Volume Check: A Tale of Two Markets 📉🚀 The Headwinds (Spot Trading): 🌍 Global spot crypto trading volume fell 35% q/q in 1Q26, mainly reflecting weaker crypto prices 📊 Coinbase's spot volume fell at a slower 26% q/q pace — implying a

Thesis: Fundstrat’s Tom Lee sees the $S&P 500(.SPX)$ hitting 7,700 in 2026 as a probable outcome, driven by three converging tailwinds that are already showing up in the data. The Three Pillars Pillar Evidence Market Implication Economy passed the war test Earnings estimates are rising despite geopolitical shocks Recession fears disproved; fundamental floor is stronger than feared Private credit healing $iShares Expanded Tech-Software Sector ETF(IGV)$ collapsed to 72, now recovered to 85 Credit crunch fears easing; liquidity improving for tech/risk assets AI productivity + Middle East resolution AI shifting from capex story to ROI reality; potential geopolitical de-escalation Risk premia compress → val

🎯 Core Takeaway: Stay Overweight Equities Middle East volatility is just "short-term noise." History shows: missing the rebound hurts more than being caught in the dip 💔 📉 Key Stat: Over 30 years, missing just the 10 best trading days could cut your annualized returns roughly in half. And those best days? They usually come right after major drops. Unless the global economy enters a sustained recession → "Stay invested" remains the best long-term strategy. 🏛️ Four Pillars at a Glance Pillar Current Status For SG Investors 🌍 Macro Strong US nominal growth; Europe weakening; China & EM resilient US remains the main battlefield; Asia EM is allocable 📈 Fundamentals Global earnings growth still at 18%; even if revised down, enough to support positive returns Q1 earnings season: US continues

1. Q1 2026 Preview: USDC Circulation & Market Share Trends 📊 Tiger Research Team maintains HOLD rating but lifts Price Target to $100 as $Circle Internet Corp.(CRCL)$ navigates a shifting landscape of stabilizing market share, evolving regulation, and mixed macro signals. Here is the team's comprehensive analysis of the data, the macro outlook, and our valuation model. 👇 The Resilience: According to CoinMarketCap, average USDC circulation reached $75.3B in 1Q26, down a modest 1.3% q/q from $76.3B in 4Q25. The quarter saw notable intraperiod volatility—circulation peaked at approximately $79.6B in March before moderating to $77.2B by quarter-end. Entering 2Q26, momentum has already rebounded, with circulation climbing back to $78.3B as of April

1. Macro View: BCA Research on Tariffs, China, and What Comes Next 🧠US futures jumped more than 2% after Trump agreed to a two-week ceasefire with Iran. Singapore, however, stayed quiet — daily market value slipped to S$1.43 billion.But two names still stood out. One is an infrastructure trust offering nearly 8% yield while quietly moving into digital assets. The other is a commercial vehicle specialist capitalizing on Singapore's EV push.Before diving into the stocks, here's what BCA Research has to say about the broader macro picture.BCA sees the recent SCOTUS tariff ruling and Trump's follow-up 15% global tariff as only marginal relief for China. The effective tariff on Chinese goods drops from ~29% to roughly 24% — not enough to change existing rerouting strategies.Their core views:Chi