The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1057 ET - Stocks in Abu Dhabi extend gains from the previous session, while Qatar stocks continue to fall, with their benchmark indices rising 0.2% and falling 0.5%, respectively. Abu Dhabi's relative strength looks constructive, supported by resilient earnings and its banking and telecom sectors, says Mazen Abou Ismail, head of trading desk at FFA Private Bank Dubai. Qatar remains more vulnerable given its exposure to regional energy and LNG-related risks, helping explain the continued weakness, he says. Geopolitics remains the main driver of GCC sentiment, but differences in fundamentals, valuations and liquidity are increasingly driving relative performance across markets, Abou Ismail says. (farhan.rafid@wsj.com)

1055 ET - Investors await Nvidia's earnings due to be released on Aug. 26 to provide insights on the strength and broadness of demand for AI, UBS Global Wealth Management's Mark Haefele says in a note. This comes as some investors worry about circular financing in the AI industry, Haefele says. Nvidia has teamed up with big financial institutions to create a financing package of over $500 billion for AI expenditure. This initiative "has raised questions about circularity when suppliers help finance purchases within their own ecosystem," Haefele says. (miriam.mukuru@wsj.com)

1025 ET - Much like bitcoin, ethereum has been locked in range-bound trading for much of the summer, but the range is thinning, on either side of $1,900. "It remains below the 200-day moving average, while resistance near $1,950 is still intact," says Bret Kenwell of eToro in a note. "Active traders may now be waiting for a break from this tightening range, with bulls seeking an upside breakout and bears watching for support to fail." Ethereum is down 0.3% to $1,899 currently, while bitcoin inches 0.1% lower to $64,281. Other major cryptocurrencies are mixed. (kirk.maltais@wsj.com)

0623 ET - Speculative bets on a rise in global semiconductor stocks are considered the most crowded trade followed by bets on a weaker Japanese yen, according to Bank of America's global fund manager survey for August. Some 53% of investors say long positions in global semiconductors--which expect these stocks to rise--is the most crowded trade, albeit down from last month's record high of 83%. Short yen positions, which bet on the currency falling, is considered the second most crowded trade with 12% of investors in favor of this view. This is followed closely by long Magnificent Seven, which includes major tech stocks such as Amazon, Apple and Tesla, with 11% of investors considering this the most crowded trade. (renae.dyer@wsj.com)

0254 ET - Demand from artificial-intelligence servers is expected to continue to support NAND flash market growth in the third quarter, even as smartphone and PC demand remains weak, according to research firm TrendForce. Strong purchases of storage devices for AI data centers kept the NAND flash market undersupplied in 2Q, allowing suppliers to raise prices, TrendForce says. Combined revenue for the world's top five NAND flash brands jumped 77% from the previous quarter to $68.87 billion. Samsung Electronics remained the largest supplier by revenue, followed by SK Hynix and Micron Technology. TrendForce expects limited new production capacity and sustained AI-related demand to support further price increases and industry growth in 3Q. (jie.yang@wsj.com)

0249 ET - Lenovo's infrastructure business could sustain its operating margin in the near term, UOB Kay Hian analysts say in a research note. The segment's operating margin expansion is underpinned by better profitability in its products for enterprise and small and medium businesses, better scale, as well as the mounting bargaining power given the supply shortages, they note. Although management guided for a high single-digit margin for FY 2027, UOB thinks it could top the fiscal 1Q's 9.1%. UOB raises Lenovo's target price to HK$49.00 from HK$32.80. Shares are last at HK$31.22.(sherry.qin@wsj.com)

0232 ET - Artificial-intelligence data centers are expected to move closer to adopting 800V direct-current power systems as demand for more powerful AI chips continues to rise, according to a Digitimes Research report. Although Nvidia isn't expected to introduce major power-related changes in 2026, power semiconductor suppliers are already rolling out products designed for future AI server platforms. Digitimes analyst Chiayang Yao says the transition is likely to accelerate with the mass production of Nvidia's Rubin Ultra GPUs in 2027. The report also highlights growing demand for next-generation power technologies that can boost energy efficiency and support higher computing workloads. As 800V systems become more standardized, competition is expected to center on cost, efficiency, power density and supply reliability, Yao says. (jie.yang@wsj.com)

0153 ET - AEM's margin uptick is likely to extend into 2H, supported by improved earnings visibility from its AI and high-performance computing business, Citi analyst Arthur Pineda says in a note. Beyond FY26, Citi sees sustained solid growth as revenue from new semiconductor customers is likely to start contributing next year. The bank raises its target price to 14.60 Singapore dollars from S$12.70 and maintains buy/high risk, after revising up FY26-FY28 earnings estimates by 15%-21% to reflect stronger revenue growth and firmer margin trends. Shares are down 3.5% at S$10.11. (venkat.pr@wsj.com)

0150 ET - Hana Microelectronics' earnings rebound seems stronger than expected, ttb wealth securities' Pattadol Bunnak says in a research report. The Thai electronics manufacturing service company's earnings rose to 278 million baht in 2Q from 103 million baht in 1Q, thanks to drivers including continued recovery in its core EMS business, the analyst notes. The company also expects new orders for artificial-intelligence data centers, such as packaging for solid-state cooling devices and printed circuit board assembly for data-quality checking devices. The brokerage lifts its 2026-2028 earnings forecasts for the company by 36%-78%. It raises the stock's rating to buy from sell and the target price to 48.00 baht from 24.00 baht. Shares are 1.55% higher at 49.25 baht. (ronnie.harui@wsj.com)

0035 ET - UMS Integration's growth outlook remains upbeat, says Lee Keng Ling at DBS Group Research in a report. Major production ramp-up and new product introductions for a new client are poised to boost volumes meaningfully. Participation in customers' next-generation advanced packaging programs should also offer additional drivers in the medium- to long-term, the analyst says. There is robust demand for the company's integrated systems from an existing key client. The high-precision components manufacturer is expanding capacity with a third plant in Malaysia's Penang, targeted to commence mass production by end-2027. DBS raises the stock's target price to 3.62 Singapore dollars from S$3.17, with unchanged buy rating. Shares are 2.1% lower at S$2.81. (ronnie.harui@wsj.com)

2327 ET - China Literature's softening online-reading revenue spurs Nomura to downgrade its rating on the stock to neutral from buy. While the online literature-platform operator continues to show strong intellectual-property commercialization progress, Nomura analysts are concerned about the online reading business, as revenue for the segment declined 7% in 1H, compared with a stable 2025 performance. A decline in the business's monthly paying users likely reflects a broader shift in user preferences away from text-based content toward more visual and fragmented entertainment formats, they say in a note. Nomura expects these headwinds to persist into 2H, casting a shadow on China Literature's near-term earnings outlook. The bank trims its target price to 25.00 Hong Kong dollars from HK$44.00. Shares drop 4.3% to HK$20.56. (megan.cheah@wsj.com)

2308 ET - Indonesia is a potential beneficiary of the regional data-center buildout, UOB Kay Hian analysts say in a note. Singapore has previously highlighted constraints on land, power and water, while the Malaysian state of Johor has gained from a significant spillover given its proximity to the city-state. However, rapid growth has increasingly strained resources, with Malaysia tightening power and water screening for data-center projects, and Johor restricting water-intensive facilities in 2026. "Against this backdrop, Indonesia offers a large and relatively underpenetrated market, supported by foreign-investment flexibility and streamlined [data center] development," UOB Kay Hian says. The brokerage views Indosat, DCI Indonesia and Telkom Indonesia among those that are direct data-center beneficiaries.