Goldman Sachs: Asian Stocks Have Room to Run
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 49 minutes ago
0mins
Source: CNBC
- Market Performance Analysis: Goldman Sachs highlights that despite a strong rally in Asian stocks during the first half, there is still room for growth, with the MSCI Asia Pacific ex-Japan Index expected to deliver mid-teen returns in the second half, driven by projected earnings growth of 60% in 2026 and 22% in 2027.
- Sector Recommendation Strategy: The bank advises investors to focus on structural winners such as AI infrastructure, power generation, and defense spending, favoring markets in South Korea, Taiwan, Japan, and China's A-share market, emphasizing that earnings growth will dominate market performance.
- Commodity Demand Outlook: Goldman believes geopolitical shocks will support long-term demand for metals and energy infrastructure, particularly copper and aluminum, with copper demand growth expected to outpace mine supply, raising the 2026 LME copper price forecast to $13,735 per metric ton.
- Gold Investment Outlook: Despite a strong rally since 2022, Goldman remains bullish on gold, forecasting prices to reach $4,900 per ounce by 2026, driven by sustained central bank buying and emerging market reserve managers diversifying their investments.
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Analyst Views on GS
Wall Street analysts forecast GS stock price to fall
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 1065.090
Low
604.00
Averages
951.45
High
1100
Current: 1065.090
Low
604.00
Averages
951.45
High
1100
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Analysis of Today's High Yield CD Rates
- Current Highest Rate: As of June 28, 2026, the highest CD rate is 4.10% APY offered by Marcus by Goldman Sachs on its 14-month CD, indicating strong competitiveness in long-term CD rates in the current economic climate, encouraging savers to lock in funds for higher returns.
- Interest Calculation Example: Investing $1,000 in a one-year CD with a 1.52% APY results in a year-end balance of $1,015.20, demonstrating that even lower rates can yield stable returns, reflecting the reliability of CDs as a savings tool.
- High Deposit Earnings: Choosing a one-year CD at 4% APY with a $10,000 deposit leads to a year-end balance of $10,407.42, meaning an interest earning of $407.42, highlighting the positive correlation between deposit amounts and earnings, encouraging savers to consider higher deposits.
- Diversity of CD Types: The market offers various types of CDs, such as bump-up CDs and no-penalty CDs, which may require accepting lower rates but provide greater flexibility, catering to different savers' needs and reflecting the trend of diversification in financial products.
See More
Goldman Sachs: Asian Stocks Have Room to Run
- Market Performance Analysis: Goldman Sachs highlights that despite a strong rally in Asian stocks during the first half, there is still room for growth, with the MSCI Asia Pacific ex-Japan Index expected to deliver mid-teen returns in the second half, driven by projected earnings growth of 60% in 2026 and 22% in 2027.
- Sector Recommendation Strategy: The bank advises investors to focus on structural winners such as AI infrastructure, power generation, and defense spending, favoring markets in South Korea, Taiwan, Japan, and China's A-share market, emphasizing that earnings growth will dominate market performance.
- Commodity Demand Outlook: Goldman believes geopolitical shocks will support long-term demand for metals and energy infrastructure, particularly copper and aluminum, with copper demand growth expected to outpace mine supply, raising the 2026 LME copper price forecast to $13,735 per metric ton.
- Gold Investment Outlook: Despite a strong rally since 2022, Goldman remains bullish on gold, forecasting prices to reach $4,900 per ounce by 2026, driven by sustained central bank buying and emerging market reserve managers diversifying their investments.
See More
Tech Giants Face Challenges and Opportunities
- Market Confidence Shaken: As competition for data center construction intensifies, tech giants like Amazon, Microsoft, and Google are experiencing declining investor confidence, leading to stock price volatility that impacts overall market performance.
- AI Investment Outlook Uncertain: Despite ongoing investments in AI by Meta and Apple, the lack of a clear profit model has led to cautious market expectations regarding their future profitability, potentially affecting their stock prices.
- Surge in Storage Chip Prices: The rising prices of storage chips are putting pressure on several tech companies, including Apple, which may hinder their profitability expectations from AI investments and affect overall financial health.
- Increased Risk of Industry Consolidation: With the emergence of new competitors like OpenAI and Anthropic, traditional tech giants face the risk of being marginalized, forcing them to reassess market strategies to maintain competitiveness.
See More
CoreWeave: A Potential Multibagger in AI Data Centers
- Significant Investment Returns: Nvidia's $2 billion investment in CoreWeave in January has appreciated by 11% so far, underscoring its critical role in AI infrastructure and suggesting further upside potential.
- Expanding Customer Base: CoreWeave has secured commitments from 10 customers, each pledging at least $1 billion for data center capacity, including major players like OpenAI and Anthropic, highlighting strong demand and market positioning in the AI sector.
- Revenue Growth Potential: CoreWeave's revenue backlog stands at an impressive $99.4 billion, growing 284% year-over-year, with an estimated 36% conversion to revenue over the next two years, propelling annualized revenue from $18 billion to $30 billion.
- Optimistic Market Outlook: Goldman Sachs predicts U.S. data center power demand will double from 31GW to 66GW by 2025, and with CoreWeave's contracted power capacity of 3.5GW, the company is well-positioned to significantly increase its market share in the booming AI data center market.
See More
CoreWeave Secures Nvidia Investment and Market Potential
- Investment Scale and Growth Potential: Nvidia invested $2 billion in CoreWeave in January 2023 to help build AI factories, with the stock appreciating 11% post-investment, indicating strong market confidence in its future growth and positioning it as an ideal portfolio addition.
- Customer Base Expansion: CoreWeave has secured contracts with 10 customers, each committing at least $1 billion for data center capacity, including major players like OpenAI and Anthropic, highlighting its strong appeal and demand in the AI infrastructure sector.
- Revenue and Contractual Capacity: CoreWeave's revenue backlog reached $99.4 billion, growing 284% year-over-year, while quarterly revenue surged 112% to $2.1 billion, showcasing its robust performance in the rapidly expanding AI market and future profitability potential.
- Future Development Goals: CoreWeave aims to increase its active data center capacity to 8 GW by the end of the decade, currently at 1 GW with contracted power capacity of 3.5 GW, indicating the feasibility of its expansion strategy and proactive response to future market demands.
See More
Jefferies Earnings Reveal Outlook for Investment Banks
- Earnings Miss: Jefferies' Q2 net earnings grew 5% year-over-year to $226 million, or $1.02 per share, falling short of the $1.16 estimate, which led to an 8% stock drop on June 25.
- Revenue Weakness: Revenue rose 37% year-over-year to $2.21 billion but missed the $2.22 billion forecast, primarily due to a 46% drop in asset management revenue to $188 million, reflecting a challenging market from March to May.
- Record Investment Banking Revenue: Jefferies achieved a record $1.2 billion in investment banking revenue, a 58% increase year-over-year, driven by strong advisory and equity underwriting, showcasing its robust position in the investment banking sector.
- Optimistic Market Outlook: Despite the weak asset management results, Jefferies' strong investment banking and capital markets performance suggests that other major investment banks like Goldman Sachs and Morgan Stanley may report positively in their upcoming earnings, particularly benefiting from the market recovery in April.
See More
Analysis of Today's High Yield CD Rates
- Current Highest Rate: As of June 28, 2026, the highest CD rate is 4.10% APY offered by Marcus by Goldman Sachs on its 14-month CD, indicating strong competitiveness in long-term CD rates in the current economic climate, encouraging savers to lock in funds for higher returns.
- Interest Calculation Example: Investing $1,000 in a one-year CD with a 1.52% APY results in a year-end balance of $1,015.20, demonstrating that even lower rates can yield stable returns, reflecting the reliability of CDs as a savings tool.
- High Deposit Earnings: Choosing a one-year CD at 4% APY with a $10,000 deposit leads to a year-end balance of $10,407.42, meaning an interest earning of $407.42, highlighting the positive correlation between deposit amounts and earnings, encouraging savers to consider higher deposits.
- Diversity of CD Types: The market offers various types of CDs, such as bump-up CDs and no-penalty CDs, which may require accepting lower rates but provide greater flexibility, catering to different savers' needs and reflecting the trend of diversification in financial products.
See More
Goldman Sachs: Asian Stocks Have Room to Run
- Market Performance Analysis: Goldman Sachs highlights that despite a strong rally in Asian stocks during the first half, there is still room for growth, with the MSCI Asia Pacific ex-Japan Index expected to deliver mid-teen returns in the second half, driven by projected earnings growth of 60% in 2026 and 22% in 2027.
- Sector Recommendation Strategy: The bank advises investors to focus on structural winners such as AI infrastructure, power generation, and defense spending, favoring markets in South Korea, Taiwan, Japan, and China's A-share market, emphasizing that earnings growth will dominate market performance.
- Commodity Demand Outlook: Goldman believes geopolitical shocks will support long-term demand for metals and energy infrastructure, particularly copper and aluminum, with copper demand growth expected to outpace mine supply, raising the 2026 LME copper price forecast to $13,735 per metric ton.
- Gold Investment Outlook: Despite a strong rally since 2022, Goldman remains bullish on gold, forecasting prices to reach $4,900 per ounce by 2026, driven by sustained central bank buying and emerging market reserve managers diversifying their investments.
See More
Tech Giants Face Challenges and Opportunities
- Market Confidence Shaken: As competition for data center construction intensifies, tech giants like Amazon, Microsoft, and Google are experiencing declining investor confidence, leading to stock price volatility that impacts overall market performance.
- AI Investment Outlook Uncertain: Despite ongoing investments in AI by Meta and Apple, the lack of a clear profit model has led to cautious market expectations regarding their future profitability, potentially affecting their stock prices.
- Surge in Storage Chip Prices: The rising prices of storage chips are putting pressure on several tech companies, including Apple, which may hinder their profitability expectations from AI investments and affect overall financial health.
- Increased Risk of Industry Consolidation: With the emergence of new competitors like OpenAI and Anthropic, traditional tech giants face the risk of being marginalized, forcing them to reassess market strategies to maintain competitiveness.
See More
CoreWeave: A Potential Multibagger in AI Data Centers
- Significant Investment Returns: Nvidia's $2 billion investment in CoreWeave in January has appreciated by 11% so far, underscoring its critical role in AI infrastructure and suggesting further upside potential.
- Expanding Customer Base: CoreWeave has secured commitments from 10 customers, each pledging at least $1 billion for data center capacity, including major players like OpenAI and Anthropic, highlighting strong demand and market positioning in the AI sector.
- Revenue Growth Potential: CoreWeave's revenue backlog stands at an impressive $99.4 billion, growing 284% year-over-year, with an estimated 36% conversion to revenue over the next two years, propelling annualized revenue from $18 billion to $30 billion.
- Optimistic Market Outlook: Goldman Sachs predicts U.S. data center power demand will double from 31GW to 66GW by 2025, and with CoreWeave's contracted power capacity of 3.5GW, the company is well-positioned to significantly increase its market share in the booming AI data center market.
See More
CoreWeave Secures Nvidia Investment and Market Potential
- Investment Scale and Growth Potential: Nvidia invested $2 billion in CoreWeave in January 2023 to help build AI factories, with the stock appreciating 11% post-investment, indicating strong market confidence in its future growth and positioning it as an ideal portfolio addition.
- Customer Base Expansion: CoreWeave has secured contracts with 10 customers, each committing at least $1 billion for data center capacity, including major players like OpenAI and Anthropic, highlighting its strong appeal and demand in the AI infrastructure sector.
- Revenue and Contractual Capacity: CoreWeave's revenue backlog reached $99.4 billion, growing 284% year-over-year, while quarterly revenue surged 112% to $2.1 billion, showcasing its robust performance in the rapidly expanding AI market and future profitability potential.
- Future Development Goals: CoreWeave aims to increase its active data center capacity to 8 GW by the end of the decade, currently at 1 GW with contracted power capacity of 3.5 GW, indicating the feasibility of its expansion strategy and proactive response to future market demands.
See More
Jefferies Earnings Reveal Outlook for Investment Banks
- Earnings Miss: Jefferies' Q2 net earnings grew 5% year-over-year to $226 million, or $1.02 per share, falling short of the $1.16 estimate, which led to an 8% stock drop on June 25.
- Revenue Weakness: Revenue rose 37% year-over-year to $2.21 billion but missed the $2.22 billion forecast, primarily due to a 46% drop in asset management revenue to $188 million, reflecting a challenging market from March to May.
- Record Investment Banking Revenue: Jefferies achieved a record $1.2 billion in investment banking revenue, a 58% increase year-over-year, driven by strong advisory and equity underwriting, showcasing its robust position in the investment banking sector.
- Optimistic Market Outlook: Despite the weak asset management results, Jefferies' strong investment banking and capital markets performance suggests that other major investment banks like Goldman Sachs and Morgan Stanley may report positively in their upcoming earnings, particularly benefiting from the market recovery in April.
See More
