On June 18, Lenovo Group fell 3.3% in regular trading, trading at HKD 24.22 per share, with turnover of HKD 682 million. The decline marks a second consecutive session of pullback following a cumulative surge of over 13% driven by favorable IDC global x86 server market data.

The stock has accumulated gains exceeding 170% year-to-date, making it the top performer among Hang Seng Tech Index constituents. The sharp run-up has intensified profit-taking pressure in recent sessions. On fundamentals, the company reported AI server revenue growth of 50% year-over-year for the full fiscal year, with its ISG segment turning profitable and global x86 server market share rising to second place. Backlog orders expanded to USD 21 billion. The current forward PE stands at approximately 9x, significantly below peer Dell at 22x.

Multiple institutions maintain a positive medium-to-long-term outlook on Lenovo's AI infrastructure business, though short-term technical correction pressure remains elevated given the magnitude of recent gains.

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