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.

0730 GMT - MediaTek has strengthened its position in the premium smartphone chip market over the past few years, Counterpoint Research analyst Shivani Parashar says in a report. Since the launch of its Dimensity 9000 chip in 2022, it has expanded its presence across flagship Android smartphones, supported by deeper partnerships with Chinese smartphone makers, she says. The recent launch of the Dimensity 9600 Pro marks another important step in MediaTek's premium push, she says. The timing is particularly important as the premium smartphone segment enters a more challenging cost environment with rising memory prices, she notes. MediaTek faces several competitors in the premium smartphone chip segment, including Qualcomm, Samsung Electronics and Huawei's HiSilicon, she adds. Shares last ended 0.6% lower at $4,950 New Taiwan dollars. (sherry.qin@wsj.com)

0624 GMT - Telkom Indonesia (Persero) may benefit from the completion of phase two of its spinoff of the wholesale fibre connectivity business into Telkom InfraCo, UOB Kay Hian analysts say in a research report. The completion will further consolidate this business into Telkom InfraCo, strengthening its scale ahead of a potential strategic stake sale, the analysts say. Also, management is evaluating whether to consolidate additional fiber assets before proceeding with the strategic investor process, which could further increase Telkom InfraCo's scale. The brokerage maintains the stock's buy rating, but lowers the target price to 3,300.00 rupiah from IDR3,600.00 to partly reflect a potentially longer timeline for value-unlocking of Telkom InfraCo. Shares are 0.4% lower at IDR2,240.00. (ronnie.harui@wsj.com)

0417 GMT - Rakuten Group's mobile unit is likely to face a temporary slowdown in subscriber additions and potential network quality disruptions in the near term after it revised a roaming agreement with KDDI, Jefferies's Hiroko Sato says in a note. KDDI's decision to substantially reduce roaming support for Rakuten from Oct. 1 represents an important milestone in the mobile business's transition toward a fully self-sustaining network, the analyst says. In the longer run, this should drive meaningful cost savings that support mobile profitability, she says. Jefferies cuts its target price on Rakuten Group to 775 yen from Y1,000 and maintains a hold rating as it awaits greater visibility on the mobile operations. Shares are 3.5% lower at Y657.7. (kosaku.narioka@wsj.com; @kosakunarioka)

0333 GMT - True Corp.'s earnings should stay resilient in 3Q thanks to continued growth across several key businesses and lower finance costs, UOB Kay Hian analysts say in a report. The Thai telecom company's core service revenue should continue growing in 3Q due to healthy performance in its mobile, broadband and TV businesses, the analysts say. It can probably achieve its EBITDA growth guidance of 9% in 2026, aided by continued growth in its mobile and broadband businesses and a lower effective interest rate. The brokerage raises its target price on the stock to 16.50 baht from 15.70 baht with an unchanged buy rating. Shares are 0.8% higher at 12.60 baht. (ronnie.harui@wsj.com)

0250 GMT - Telkom Indonesia could face near-term execution risks amid some uncertainty from management changes and asset reorganization, UOB Kay Hian analysts Willinoy Sitorus and Andrew Agita Buntoro say in a note. The company's early retirement program and broader organizational streamlining should improve efficiency over time, but restructuring costs could continue to pressure near-term earnings. Consolidating Telkom Indonesia's wholesale fiber connectivity business into Telkom InfraCo strengthens its scale ahead of a potential strategic stake sale. UOB Kay Hian maintains its Buy rating but cuts its target price to 3,300 Indonesian rupiah from IDR3,600. Shares are down 0.4% at IDR2,240. (venkat.pr@wsj.com)

0243 GMT - CelcomDigi's 3Q earnings results, due in November, could be a near-term catalyst, given its undemanding valuation and healthy dividend yield, CGS International analyst Prem Jearajasingam says in a note. CelcomDigi's acquisition of a stake in Malaysia's state-backed 5G infrastructure firm Digital Nasional could be completed within weeks, he says. That should allow CelcomDigi and other new shareholders to streamline Digital Nasional's operations, reduce losses and support an efficient 5G rollout, he says. Digital Nasional's recent 5.2 billion ringgit financing could reduce the capital contributions currently expected from CelcomDigi and Maxis, although details of the funding structure remain unclear, he says. CGS maintains an add rating on CelcomDigi and keeps its target price at 2.84 ringgit. Shares are unchanged at 2.51 ringgit. (yingxian.wong@wsj.com)

0157 GMT - South Korean internet giant Naver's 3Q earnings could be pressured by weak revenue growth from its core platform services, Daiwa Capital's Thomas Y. Kwon and Joon Lee say. The analysts forecast seasonally soft revenue growth for both advertisement and commerce segments due to the Chuseok holiday in September. The company's 3Q operating profit likely fell 5.2% on year to 541 billion won, with the operating profit margin narrowing to 15.5% from 18.2% a year earlier, they say. Elevated capital expenditure and operating costs related to artificial-intelligence infrastructure are also weighing on earnings, they add. Daiwa trims its target price for the company to 270,000 won from 273,000 won but keeps a buy rating. Shares are 0.2% higher at 191,500 won. (kwanwoo.jun@wsj.com)

0155 GMT - GMO Internet Group's valuation fails to fully reflect the long-term growth opportunity from cybersecurity demand and the company's growing exposure to national security-related projects, Jefferies's Hiroko Sato says in a note. Cybersecurity demand remains a structural growth driver, the analyst says. 2H earnings should also be supported by the recognition of delayed sales in its internet security business and ongoing margin improvement initiatives, she says. Although earnings visibility remains lower than peers due to the absence of company-wide guidance and continued weakness in cryptoassets, Jefferies believes these factors are more than priced in at current levels. The U.S. bank has a buy rating and a target price of 5,000 yen on the stock. Shares are 1.0% lower at Y3,939. (kosaku.narioka@wsj.com; @kosakunarioka)

0103 GMT - Talent is emerging as a key constraint as Malaysia enters a stronger semiconductor cycle, potentially limiting how quickly companies can translate demand and investment into revenue and earnings, says Hong Leong IB analyst Toh Woo Kim in a note. His analysis shows employee attrition at local companies at 14%-26%, well above the 7%-10% at multinational companies in Malaysia and regional peers. About 84%-90% of hiring is estimated to replace departing workers, leaving net workforce growth at around 3%, excluding outsourced semiconductor assembly and testing companies. Younger workers account for most hires and departures, raising training costs and potentially slowing productivity, he reckons. Companies with lower attrition may have an execution advantage, while persistent churn could increase delivery risks, he adds. (yingxian.wong@wsj.com)

1920 GMT - AppLovin investors shouldn't get too excited by an apparent acceleration in adoption of the company's e-commerce web-tracking pixel. Wells Fargo analysts say the rise in new pixels has been driven by low-to-no-traffic sites in the Asia Pacific region. "Inflection appears to be a false start," the analysts wrote, adding that the numbers may reflect a data error. "We don't observe a meaningful inflection in pixel additions when weighting pixels by web traffic," they write. The analysts add that AppLovin is early in its new e-commerce partner strategy, and an inflection in customer growth probably won't come before next year. Shares are down 2.7% at $282.64, and earlier touched a 52-week low of $275.13. (elias.schisgall@wsj.com)

1512 GMT - Bitcoin ETFs recorded their first net outflow day since mid-September, entering a month that typically is strong for both ETF flows and retail investor demand. "Bitcoin's median October return has historically been around 11%-14%," says Lacie Zhang of Bitget Wallet in a note. "October has a strong historical track record for bitcoin, but seasonality alone is not an investment thesis." Zhang says that outside macroeconomic factors may keep pressure on bitcoin this month. "High interest rates, oil prices and renewed inflation pressure remain the main headwinds." Zhang pegs downside support at $82,000, while resistance is seen at $87,500. Bitcoin is up 0.5% to $84,047. (kirk.maltais@wsj.com)

1336 GMT - Bitcoin's price is in a tug-of-war between strong ETF and corporate demand on one side and persistent inflation and rate risks on the other, Bitget Wallet's Lacie Zhang says in a note. It is trading around $83,500, with Zhang seeing $82,000 as the key downside level and $87,500 as the trigger to a bigger rally. Institutional demand can provide a floor, but it's unclear whether that demand can continue exceeding profit-taking by long-term holders and selling from miners, the analyst says. Bitcoin faces major tests from jobs data coming out tomorrow and September inflation data coming out in two weeks, Zhang says. If those reports reinforce the case for hiking rates, crypto will be under pressure from higher real yields and a stronger dollar, the analyst says.