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Gelonghui March 2｜Bank of Communications International released a report stating that Nvidia's revenue for the fourth quarter of fiscal year 2026 ending at the end of January this year reached $68.1 billion, higher than the previous guidance median of $65 billion and market expectations. The Non-GAAP gross margin was 75.2%, higher than the previous guidance median of 75%. The bank believes that among these, the network chip revenue of $11 billion, an annual increase of more than 3.5 times, was the biggest highlight. Management guided for first quarter fiscal year 2027 revenue ending at the end of April this year to be $78 billion (+/-2%), with a Non-GAAP gross margin guidance of 75% (+/-50 basis points) for the quarter. Considering the active capacity expansion by TSMC and memory suppliers, as well as Nvidia's leading position in the industry, the bank believes that supply chain tensions have less impact on Nvidia compared to its peers. The bank raised its revenue forecasts for Nvidia for fiscal years 2027 and 2028 to $354.5 billion and $455.7 billion, respectively, and raised its Non-GAAP earnings per share forecasts to $8.06 and $10.52; the target price was raised to $260, corresponding to 28 times the forecast P/E for fiscal years 2027 and 2028, and believes the stock price is attractive.

Glonghui, March 2nd丨On Monday, due to the escalation of the Middle East conflict, the Turkish stock market plummeted. At 9:55 a.m. Istanbul time (UTC+8), the Borsa Istanbul 100 Index dropped by 5.3%. Turkish officials announced a series of measures targeting the foreign exchange market, stocks, and funds to protect investors from market volatility. The Turkish Capital Markets Board imposed a temporary short-selling ban on stocks, effective until March 6, and lowered the minimum equity protection requirement from 35% to 20%. The short-selling ban prevents investors from betting on further declines in stock prices, while the reduced equity threshold eases margin requirements, allowing traders to maintain leveraged positions with less of their own capital. The Borsa Istanbul also reduced the order-to-trade ratio from 5:1 to 3:1, tightening the restriction on the number of orders participants can submit relative to the number of executed orders. This move aims to curb the submission and cancellation of orders, thereby impacting high-frequency trading and algorithmic trading strategies.

Rusfertide, as a potential first-in-class therapy, is intended for the treatment of patients with polycythemia vera.