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Goldman Sachs - 1 2Q24 - 1 Lincoln Kong - 1 FactSet - 1 NetEase NetEase - 1 Michael Bloom - 1
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Street - 1 Hong - 1 Nasdaq - 1 Hong Kong Stock Exchange - 1 China - 1 Domestic - 1

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☆ Goldman Sachs likes these 2 mobile gaming stocks set for 'blockbuster' launches, gives one 40% upside
  + stars: | 2024-04-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com   time to read: +3 min
Investors seeking exposure to China's growing mobile gaming industry should look at technology giants Tencent and NetEase , according to Goldman Sachs. The investment bank expects "China to see faster growth from mid 2024 supported by game launches and a loosening regulatory environment." Tencent Tencent's game sales were up 14% year on year domestically in March and 36% internationally. NetEase NetEase posted a 16% year-on-year rise in domestic sales growth and 1% rise in international sales growth last month, Goldman's analysts noted. Domestic mobile game sales fell by 12% year-on-year Japan in the first quarter of the year.
Persons: Goldman Sachs, 2Q24, Lincoln Kong, FactSet, NetEase NetEase, Michael Bloom Organizations: Street, Hong, Nasdaq, Hong Kong Stock Exchange, China, Domestic Locations: China, Tencent, Hong Kong, Japan, South Korea
☆ Morgan Stanley is bullish on this Chinese tech giant — giving it upside of nearly 20%
  + stars: | 2023-02-14 | by ( Zavier Ong | ) www.cnbc.com   time to read: +2 min
Chinese tech giant Tencent is ramping up its efforts to monetize its fast-growing short video function, and Morgan Stanley is bullish on that. Other key growth drivers Morgan Stanley said it believes global gaming will be another key growth driver for Tencent, though it will be a "much longer-term growth story." Another longer-term growth driver is Tencent's software-as-a-service products, namely Tencent Meeting, Tencent Docs and Tencent Cloud. "We believe it will take 2-3 more years for Tencent to reach breakeven in cloud businesses and for them to become a long-term growth driver," the bank said. Morgan Stanley has raised its price target on Tencent to 450 Hong Kong dollars ($57.30) from 420 Hong Kong dollars — an implied upside of about 20% to the stock's closing price on Feb. 13.
☆ Buy this Chinese tech giant to play a $284 billion video gaming opportunity: Goldman Sachs
  + stars: | 2023-02-03 | by ( Zavier Ong | ) www.cnbc.com   time to read: +2 min
U.S. giants Activision Blizzard and Roblox have long been investor favorites for exposure to the video gaming sector, but Goldman Sachs has an alternative pick to play the sector. Alternative pick Against this backdrop, Goldman is betting on tech giant Tencent to play the sector's rapid growth in China – the world's largest online game market. Tencent is expected to grow its game revenue by 9% annually into 2024, according to Goldman, with international gaming revenue making up about 30% of Tencent's total revenue by 2030. While a number of factors have undermined global games revenue growth in 2022, Goldman expects the market to rebound by 5% and 7% in 2023 and 2024, respectively. As such, the bank said the industry is set for exponential growth into 2026 and has forecast global online game revenue to expand at a compounded rate of 4.4% annually to $284 billion in 2026.
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