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.
0950 ET - Snap says artificial intelligence is transforming the way it works. The social-media company, which is planning to lay off 1,000 workers in a cost-savings push, says that more than 65% of its new code is currently generated by AI. And its code-review agent has so far found more than 7,500 bugs, freeing up teams to concentrate on higher-value work and highest-priority strategic initiatives. Moving forward, Snap says it will refine its operating model, employing "a combination of highly focused teams and increasingly capable AI agents," to work more quickly and efficiently. (connor.hart@wsj.com)
0944 ET - Snap says it can cut around 1,000 jobs, roughly 16% of its full-time workforce, in part because of AI. "Rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers," CEO Evan Spiegel says in a memo to employees announcing the layoffs. The social-media company's job cuts come as it faces pressure from investors over its struggles for profitability. The cuts are intended to increase efficiencies, reducing Snap's annualized cost base by more than $500 million by the second half of 2026. Snap jumps 6.5% in early trading. (connor.hart@wsj.com)
0932 ET - ASML's guidance lift suggests solid chip-equipment demand persists despite concerns about big tech overinvesting in AI, AJ Bell's Russ Mould writes in a note. The Dutch supplier of chip-making equipment raised its full-year sales expectations amid robust demand. "Customers are lining up to buy its equipment, which is a ringing endorsement of its skills as ASML's products are not a casual purchase," he says. Such purchases signal a deep commitment given the high costs, he adds. However, potential U.S. restrictions on selling or servicing certain equipment to Chinese clients could weigh on growth, he says. Shares are down 2.5% at 1,252 euros.(najat.kantouar@wsj.com)
0412 ET - ASML Holding's first-quarter results indicate that AI demand is overriding geopolitical uncertainty from the Middle East and restrictions on exports of advanced semiconductor-making tools to China, RSM UK's James Bull says in a note. The Dutch supplier of chip-making equipment says demand for semiconductors is outpacing supply and that its clients are accelerating their capacity expansion plans for 2026 and beyond. "The overall environment for AI and advanced semiconductors remains positive," Bull says. ASML shares trade 1.4% higher at 1302.20 euros. (mauro.orru@wsj.com)
0355 ET - South Korean telecom giant KT's 1H earnings could remain weak, Nomura's Angela Hong and Won Kang say. KT's 1Q operating profit likely fell 29% on year, partly due to higher costs from a customer retention program following a 2025 data breach, the analysts write in a note. They say such cost pressures could persist through 2Q. Earnings could gradually recover in 2H, supported by potential write-backs of provisions related to the data breach and the recognition of real estate sales, they note. Nomura raises its target price for KT by 11% to 62,000 won and maintains a neutral rating. Shares are up 0.3% at 64,400 won. (kwanwoo.jun@wsj.com)
0253 ET - ASML Holding's sales and margin projections for the second quarter are lower than expected, Citi analysts write in a research note. The Dutch supplier of semiconductor-making equipment is forecasting between 8.4 billion euros and 9 billion euros in sales. Analysts point out that the midpoint at 8.70 billion euros is below market expectations of 8.94 billion euros. ASML expects its gross margin--a closely watched metric of pricing power and profitability--to range from 51% to 52%. Analysts note the midpoint is about 78 basis points below market expectations of 52.3%. (mauro.orru@wsj.com)
0240 ET - Demand for ASML Holding's semiconductor-making machines remains strong even after the Dutch group stopped disclosing quarterly orders, Citi analysts write in a note to clients. The company lifted its 2026 sales guidance and is expanding capacity of some of its high-end tools to at least 60 in 2026 and at least 80 in 2027. The analysts say that they expect a mid-single digit upgrade to 2026 and 2027 sales consensus, particularly driven by statements around customer demand and ASML's capacity expansion. (mauro.orru@wsj.com)
0020 ET - Baidu's chip unit, Kunlunxin, appears to be on track for its IPO, Barclays analysts say in a note. The IPO could come as early as the end of 2Q or early 3Q, the analysts say. Barclays's recent industry checks suggest solid performance at the chip unit, and it expects the majority of its revenue to come from external customers. While encouraged by the strong growth of its AI business, the analysts remain concerned about Baidu's core legacy advertising business, as chatbots are replacing traditional search use cases and the advertising monetization opportunity through chatbots remains unclear. Barclays maintains an equal weight rating on Baidu's ADR and keeps its target at US$128.00. The ADRs last ended at US$118.23. (sherry.qin@wsj.com)
2239 ET - Zhipu AI faces several challenges despite its high share price, according to Jefferies analysts. They note that shares in the Hong Kong-listed company have soared about eightfold from their January IPO price. However, its product's low stickiness and the high costs needed for training to maintain model leadership are headwinds, the analysts say in a note. The coming listings of U.S. AI players and a potential inclusion in the Hang Seng Tech Index for Knowledge Atlas Technology, as the Chinese company is known officially, may support its shares in the short term, they say. Jefferies has a hold rating on the stock with a target price of HK$957.50. Shares fall 5.0% to HK$901.00. (tracy.qu@wsj.com)
2235 ET - China Mobile's earnings growth could be weighed in 2026-2028, says DBS Group Research analysts in a note. A slower growth outlook in some segments and an anticipated drag from value-added taxes are likely to weigh on the communications services company's earnings over 2026-2028, the analysts say. They cut their earnings forecasts by around 10%-13% over this period. Nonetheless, this still implies net profit growth of 0.3%-7.4% over the three years, they add. The company has proven it is able to scale its high-margin digital growth engines and support its growth, they add. DBS cuts its target price to HK$98 from HK$110 but maintains its buy rating. Shares rise 0.1% to HK$81.55.(megan.cheah@wsj.com)
1441 ET - The share of businesses citing quantitative impacts from AI adoption is steadily growing, Morgan Stanley analysts say in a note, using AI analysis of earnings calls. They found that 25% of companies in the S&P 500 mentioned at least one measurable benefit in 1Q26, up from 21% in 4Q25 and 13% in 1Q25. The most commonly mentioned benefits are tied to financial impacts, followed by productivity gains. Mentions of AI gains are also most prevalent in the information technology sector, followed by financials and communication services.(elias.schisgall@wsj.com)
1330 ET - There's some truth to the artificial-intelligence displacement thesis that has weighed on software stocks this year, UBS analysts Karl Keirstead and Dean Marriott write, citing customer checks at the HumanX AI conference in San Francisco. One consistent theme in their discussions was a focus on custom-built or DIY artificial-intelligence solutions among enterprise customers. "Customers were clear that they are still reliant on 3P software firms, especially for core systems of records (SoR) but they were very willing to harness Claude/GPT, GPU compute as well as their proprietary data to build where they might have otherwise bought," the analysts write. Firms that deal with corporate data, including Palantir, Databricks, and Snowflake, are at less risk than other software-as-a-service or application stocks, the analysts write. (elias.schisgall@wsj.com)
(END) Dow Jones Newswires
April 15, 2026 12:20 ET (16:20 GMT)
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