Lenovo’s 60% Rally May Extend as AI Adds to Optimism
- Hong Kong-listed stock has jumped about 60% so far this year
- Demand recovery, AI frenzy may help extend rally into 2024
This article is for subscribers only.
A three-month rally in Lenovo Group Ltd. shares may have legs, thanks to signs of a global demand recovery for personal computers and enthusiasm about the Chinese firm’s products tied to artificial intelligence.
The world’s top PC maker’s stock in Hong Kong has risen over 30% from a mid-October low, making it the best performer in the Hang Seng Tech Index during the period. Its 60% jump this year also puts it on track for the strongest annual performance since 2009.