Movement Alert｜Lenovo Group Falls 3.92% in Regular Trading, Extending Multi-Day Correction After 187% Year-to-Date Rally

Market Focus06-05 09:45

On June 5, Lenovo Group (00992.HK) fell 3.92% in regular trading, trading at HK$23.98/share, with trading volume of HK$849 million. The decline marks the third consecutive session of selling pressure following the stock's 25-year high of HK$27.42 reached on June 2.

The ongoing correction comes after an extraordinary rally that saw Lenovo's stock surge 187% year-to-date, driven by AI PC and AI server catalysts. The stock had surged 109% in May alone, its best monthly performance since 1999, propelled by strong earnings — full-year revenue of US$83.1 billion (up 20%), AI-related revenue growth of 105%, and Dell's record AI server results fueling sector-wide re-rating. Goldman Sachs raised its target price to HK$31, maintaining a Buy rating, citing Lenovo as a primary beneficiary of AI PC penetration.

However, since June 3, the stock has faced persistent profit-taking, opening down nearly 8% on June 3 and over 5% on June 4, as investors locked in gains following the parabolic run. The broader tech sector also weakened, with the Hang Seng Tech Index declining in tandem.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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