Broker Research: Sector, Macro and Strategy Notes

BofA Securities·2026-11-04Sector

AEP.USCNP.USETR.USFE.USLNT.USMGEE.USNEE SOSRE.USVSTWEC.US

BofA Securities·2026-11-04Sector

IGO.AXLTR.AXPLS.AXSpodumene price implied by ASX lithium equities: Equities price in roughly this flat levelSpotLong-term spodumene price assumption: Real 2026 dollarsLong term

BofA Securities·2026-11-04Sector

AAL.LANTO.LBHP.AXGLEN.LMT.ASNHY.OLRIO.LCopper·OverweightCopper price: Expected to reach this level in 20272027

BofA Securities·2026-10-30Sector

BP.LEQNR.OLNESTE.HEOMV.VIREP.MCSHEL.LTTE.PAEquinor·Top pickTotalEnergies·Top pick

BofA Securities·2026-10-26Sector

2383.TW3037.TW3189.TW8046.TWIC substrates·Overweight

BofA Securities·2026-10-26Sector

BofA Securities·2026-10-23Sector

SKHYNIX SMSN

BofA Securities·2026-10-22Sector

1398.HK3328.HK601988.SH939.HKICBC·Top pickChina Construction Bank·Top pick

BofA Securities·2026-10-20Sector

DDOG MDBPATH.USSAP.DESNOW TWLO

BofA Securities·2026-10-20Sector

0688.HK1109.HKChina Resources Land·Top pickChina Overseas Land·Top pick

BofA Securities·2026-10-20Sector

BofA Securities·2026-10-16Sector

IONQ

BofA Securities·2026-10-16Sector

0728.HK0762.HK0941.HKChina Telecoms·Overweight

BofA Securities·2026-10-15Sector

AEM.USCCJ FCXFNV.USNUESSRM.USWPM.US

BofA Securities·2026-10-12Sector

600886.SH600900.SH

BofA Securities·2026-10-12Sector

ABNB AMZN DASH GOOGL META

BofA Securities·2026-10-12Sector

0101.HK1972.HK

BofA Securities·2026-10-09Sector

SMSN MUGlobal DRAM sales: US$573bn in 20262026Global NAND sales: US$367bn in 20262026

BofA Securities·2026-10-08Sector

6502.TSTX WDC

Research: Broker notes on sectors, macro, rates and strategy

Midterm Election Outcomes: Impacts on Power & Utilities

Lithium: recutting our preferences. Where did all the free cash flow go?

European Metals & Mining: Framing value - When does "cheaper" become "cheap enough"?

The Oil Gusher 3Q26 report card – 2026 cash gushers compete with 2022 records

Technology-Taiwan TPCA 2026: stay constructive on substrate amid a greater variety of technologies

Basic Materials - China Copper, Gold and Lithium Weaken; Aluminum Remains Resilient

Global Memory Tech Weekly theme: Shareholder return upside, 4Q guidance preview, resilient spot export

Banks - China (H A) Near-term earnings intact, but upside fading

Global Software: Agentic AI: software ramifications deep dive

China Property: Plotting earnings impact for CRL COLI under presales reform; bull vs. bear views

Basic Materials-China: Copper & aluminum softened; Lithium & tungsten slumped

US Semiconductors: Quantum State of the Union: focus on fault tolerance fundamentals, not funding fears

Telecoms - China (H-A) China Telecom Sector-Defensive Yield, AI Optionality

North American Metals & Mining: Q3’26 preview: steel copper prices strong,gold price weak, while focus shifts to 2027

Power-China: Power Pulse #16: Positive signs of power tariff emerging, but demand remains weak

Internet e-Commerce: Thoughts from the Road: Uphill battle for Internet sector sentiment

Energy - China Weekly: Thermal coal prices firm, more Shanxi coking capacity resumed

HK Property: 3Q26 rental wrap: Central office surged again; retail rebound continues

Global Memory Tech Weekly theme: Samsung’s 3Q results, global forecast updates, de-spec impact

IT Hardware Industry: Expert Call Series Takeaways: HDD LTA dynamics & thoughts on Toshiba