GS TMT Today

Latest edition · August 13, 2026

GS TMT TODAY 8.13.26

Goldman Sachs' daily TMT morning update recaps global market movements and ongoing tech earnings reactions. Highlights include Cisco falling on weak margin guidance despite raising FY27 revenue targets, Lenovo surging 20% on AI demand, and notable M&A discussions involving Anthropic and Dynatrace.

In this daily update, Goldman Sachs highlights US equity futures trading slightly higher alongside positive Asian market performance led by tech stocks. Earnings headlines dominate TMT, with Cisco dropping 6% due to lower gross margin guidance, Coherent declining 4% despite beat-and-raise performance, and PC makers Dell and HP rising on positive read-through from Lenovo's surging quarterly earnings. In M&A news, Anthropic is reportedly in talks to buy Decart for $6B, while Dynatrace announced the acquisition of Arize for $915M.

Key takeaways from the latest edition

• 1.TMT earnings prints drive pre-market volatility: CSCO fell 6% on weaker gross margin guidance despite raising its FY27 revenue target, while COHR dropped 4% despite beating estimates due to elevated expectations.
• 2.Lenovo surged +20% in Hong Kong following strong AI-driven earnings, lifting PC peers DELL (+4%) and HPQ (+4%) in US pre-market trading.
• 3.AI M&A momentum remains robust as Anthropic discusses acquiring AI startup Decart for $6B, and Dynatrace agrees to acquire AI observability platform Arize for $915M.

What this series covers

• TMT NEWS:
• CSCO: F4Q Revenues accelerate and FY27 guidance raised with strong hyperscaler momentum, but GM outlook misses. Stock -6% in pre.
• COHR: Solid print with beat and guide above, against elevated expectations and a pre-earnings rally following LITE's report. Stock -4% in pre.
• Lenovo's AI-Driven Revenue Boost Sends Stock to New Record – Bloomberg
• Anthropic Said in Talks to Buy Startup Decart for $6 Billion – Bloomberg
• DT: Dynatrace to Buy Arize for $915m in Cash and Stock
• MRVL: 2Q Preview: Focus on datacenter upside driven by strength in optical networking and ASIC ramps (Schneider)
• MACRO:
• TRADING:
• Sector/Basket Performance:
• Singles:
• RESEARCH:
• StubHub Holdings (STUB): Q2'26 Earnings Review
• Synopsys Inc. (SNPS): Expect a solid quarter, with an uptick to 2026 guidance.
• Liftoff Mobile Inc (LFTO): Q2'26 Review: Strong Inaugural Earnings Report
• STREET ACTIONS:
• EVENTS:

Edition archive

• GS TMT TODAY 8.13.26

  August 13, 2026

• GS TMT TODAY 7.8.26

  July 8, 2026

• GS TMT TODAY 6.29.26

  June 29, 2026