Research Articles

Alphabet 2Q26 earnings: Free cash flow turns negative. Should investors be worried?

Alphabet’s aggressive AI infrastructure spending is pushing free cash flow into negative territory, but strong growth across Cloud and Search suggests these investments could be laying the foundation for substantial long-term monetisation.

TSMC 2Q26 results tell you why we are so bullish on Asian semiconductors

TSMC’s latest results offer the clearest evidence yet that the AI investment cycle remains far from its peak, reinforcing our bullish view on Asian semiconductors.

Netflix Q2 2026 earnings: Is the company’s reduced transparency a red flag?

Netflix's weaker-than-expected Q3 guidance and reduced engagement disclosures triggered a sharp selloff, but we believe the long-term investment thesis remains intact.

Samsung Electronics: Strong earnings, stock slides. Is Samsung's rally over?

Samsung Electronics recently released its Q2 earnings guidance. Although revenue and operating profit were strong, the stock price fell in response. This has raised market concerns about whether the rally in this memory giant has ended. But has Samsung's rally truly come to an end?

Singapore property prices cooled in 2Q26 — here's why PropNex still looks attractive

URA's 2Q26 flash estimate looks worse than it is. PropNex earns commissions on both price and volume, and volume held steady — a resilience joined by three multi-year structural drivers building through 2028. We maintain our BUY rating on PropNex with a target price of SGD 2.70.

ASML has not gotten cheaper. Our earnings estimates have gotten bigger

In June we told investors to take profits on ASML after the stock cleared our USD 1,750 target. That call was about valuation, not fundamentals — and we said we would revisit when the facts changed. They have. ASML’s second-quarter results and a second guidance raise in three months have moved our earnings base materially higher, leaving the stock looking inexpensive once again.

ServiceNow FY2027: The Time Is NOW

ServiceNow is positioned to benefit from the AI workflow era, as its sticky enterprise platform, hybrid AI monetisation model and AI Control Tower strategy support a premium valuation and meaningful upside potential.

Apple FY2026: Sweet, But Not Fresh

Singapore banks: Higher expectations, dividend appeal remains intact

Singapore banks have rallied to record highs on the back of strengthening earnings fundamentals, with robust non-interest income growth complemented by easing net interest margin pressure. As the sector heads into the 1H26 reporting season, the focus shifts from the recent re-rating to whether earnings can continue to justify higher valuations.

UltraGreen.ai: Illuminating the future of surgery

We examine how UltraGreen.ai is positioned to capitalise on the structural adoption of fluorescence-guided surgery and assess its ability to deliver sustained earnings growth through its dominant ICG franchise, expanding global footprint and integrated surgical technology ecosystem.