PDD (PDD), formerly known as PinDuoDuo, pivoted away from the agricultural supply market two years ago. It launched Temu globally, offering inexpensive consumer goods at a fraction of the price that other retailers charged.
PDD posted revenue growing by 131% Y/Y. Non-GAAP earnings tripled from RMB6.92 to RMB20.72. Although PDD squeezes suppliers and sells low-quality goods at high volumes, its business growth is too strong to ignore.
In the chip sector, Intel (INTC) is showing signs of rebounding. The company announced an innovative shift for its server chips. The Xeon 6 server chips will have E-core and P-core options. Customers will get better performance and power efficiency for high-intensity workloads. Intel debuted the product at Computex 2024.
In the PC sector, Intel introduced Lunar Lake. It will power over 80 new AI PC designs from more than 20 partners. Customers may buy these products starting in Q3/2024.
Payment firm PayPal (PYPL) rose by 7.1% in the last week. On June 6, shares rallied after the firm participated in B of A’s (BAC) global technology conference. CEO Alex Chriss said that Q2 is off to a strong start. It expects to report above the mid-low double-digit non-GAAP EPS growth as originally expected.
PayPal’s transaction volume will rise as the branded checkout initiative pays off.
