HSBC CLAIMS THAT CSP CAPITAL SPENDING IS NOT HIGH, LEVERAGING SPACE TO SUPPORT AI-2028

According to the early release of In 2021, HSBC reported in its report of 12 August that the market was overly concerned about the peaking of CSP capital expenditure. The five major CSP capital expenditure is expected to increase from 95 per cent in 2026 to 11 per cent in 2028, and free cash flows from $34 billion to $104 billion. HSBC analysis shows that the CSP net liability/equity ratio remains manageable if capital expenditure reaches US$ 1.0 to 1.6 trillion in 2027 or US$ 1.9 to 2.5 trillion in 2028. The first HSBC pushes Marvell, Intel, Station Power and Asmeh at a target price of $300, $200, $3,400, Euro2149 and maintains the target price of Alphabet 420, Amazon 310, Microsoft 595, Meta 830 and Oracle 316 respectively。