Tcehy stock forecast with historical correlations to Hang

With historical correlations to Hang Seng Tech Index performance, momentum traders could target higher levels before year-end. This growth ended a streak of two consecutive quarters of year-over-year declines in iPhone sales. This doesn’t only imply a staggering 31.1% increase from last year’s EPS, but it also suggests that shares are trading at about 15.7x 2023’s expected earnings. In the meantime, consensus EPS estimates for Fiscal 2024 project further growth of 17% to $2.64, suggesting another even humbler forward P/E of 13.5x. As per recent reports, the "TCEHY stock forecast" reflects strong momentum in Tencent’s cloud services unit, contributing to projected annual revenue growth above 9%. Investor sentiment remains positive amid increased global tech ETF allocations to Chinese equities.