monsterarenamarblex| Lenovo Group rose 9% to record high AI PC provides new catalyst for stock price rise

Lenovo Group (0992monsterarenamarblex.HK) rose 9% to 12monsterarenamarblex.06 Hong Kong dollars, a record high.

Morgan Stanley says Microsoft launches support for artificial intelligencemonsterarenamarblexPersonal computers will usher in a new era and may trigger updates to commercial personal computers. Morgan Stanley wrote in the report "Artificial intelligence PCs will lead the next stage of growth in the PC market","monsterarenamarblexWe think the commercial PC market will be the initial adopters of AI PCs because they are primarily marketed as a productivity tool." Morgan Stanley's original AI PC forecast predicted that by 2024, this new computer will account for 2% of the total personal computer market, and will continue to climb in subsequent years. It is expected to reach 16% in 2025, 28% in 2026, 48% in 2027, and 64% in 2028.

Morgan Stanley said that Lenovo Group (0992.HK) has always been an undervalued stock, but with the rise of artificial intelligence computers, the growth of artificial intelligence computers and artificial intelligence servers will support Lenovo's revaluation. Now, Morgan Stanley lists Lenovo as its preferred stock and raises its target price by 64.8%, from HK$9.1 to HK$15, and its rating has been upgraded from being in line with the market to overweight. Morgan Stanley believes that artificial intelligence computers will start to surge sharply in the second half of this year. It is expected to start in popularity from notebook computers above $1000 and eventually drop to the price range of $500. Morgan Stanley believes that artificial intelligence computers will help drive the increase in average selling prices and bring higher profits to PC manufacturers. Morgan Stanley predicts that Lenovo's share of artificial intelligence computer revenue will increase from 2% in 2024 to 53% in 2028, the highest among global personal computer OEMs, and Lenovo will be the main beneficiary in Asia.

In addition, Lyon published a research report stating that Lenovo Group's main business is on the right track, AI PC models are expected to drive the upcoming replacement cycle, and further stock prices may need to rely on new catalysts, such as further details of AI PC. The bank raised its target price to HK$13 from HK$10.8 to maintain its "Buy" rating.

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