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Glonghui, June 24｜Bank of East Asia has raised its S&P 500 Index target from 7,090 points to 7,870 points. In addition to technology stocks, it is optimistic about sectors such as materials, industrials, and finance, believing that profit growth is expected to accelerate. The bank has also raised its earnings per share forecast for this year to $342, and its 12-month forward price-earnings ratio target to 23 times. Pang Weiwei, Chief Investment Strategist at Bank of East Asia, stated that in the era of an AI boom, as companies benefit from accelerated profit growth and improved return on equity (ROE), a forward price-earnings ratio for major indices above the 10-year average has become the new normal. Unless there is a significant tail risk in financial markets—such as renewed US-Iran conflict, a sharp interest rate hike by the Federal Reserve, or a severe deterioration in the employment and consumer markets—the current valuations of major US stock indices remain at reasonable levels.

Glonghui, June 24 — CDW (CDW.US), which closed up 5.25% yesterday, continued to rise by 1.42% in U.S. pre-market trading today, reaching $131.91. Morgan Stanley released a report on Tuesday, raising CDW's rating from "Neutral" to "Overweight" due to strong enterprise server demand, and adjusted the price target from $142 to $170. The report stated: "Although once-in-a-generation memory inflation is presenting challenges to the hardware market, the computing sector is defying the trend and performing strongly. Spillover upgrade demand in 2025, enterprises making early purchases, OEM supply shortages, and competition for market share—combined with more on-premise inference entering production environments (with a focus on data security)—are jointly driving resilient enterprise demand. The total addressable server market (TAM) is expected to grow by over 80% year-on-year in 2026, reaching $809 billion."

Glonghui, June 24｜Toast (TOST.US) rose more than 4% pre-market to $25.5. According to reports, Toast Inc. will be included in the S&P MidCap 400 Index, replacing TopBuild Corp, officially effective before the market opens on Wednesday, July 1, 2026. Toast is a cloud-based digital technology platform designed specifically for the restaurant industry, providing SaaS products and fintech solutions (including payment processing, restaurant hardware, etc.).