Samsung Electronics (005930.KS) has surged in 2025 as AI infrastructure demand reshapes the memory and foundry cycle. Weekly closes show the stock rising from roughly 55,200 KRW in early April to 89,000 KRW on October 2, near a late‑September peak, and about 50% higher than mid‑October 2024. Momentum accelerated after headlines pointing to collaboration with OpenAI on data center build‑outs in Korea, with investors extrapolating stronger HBM DRAM, advanced packaging, and server SSD orders. On the consumer side, rumors around an XR “Moohan” headset, camera innovations, and OLED supply wins underscore multi‑engine growth potential. This three‑year outlook (2025–2028) weighs how those drivers could translate into earnings durability, capital intensity, and valuation, and what could derail the story, including competition, geopolitics, and execution risk.

PDD Holdings Inc., the Chinese e-commerce group behind value-driven marketplaces, enters October 2025 with strong profitability, ample cash, and a share price that has recovered from spring weakness. Over the last six months, the ADR rebounded from April lows toward the upper end of its recent range, while trailing revenue of 409.62B and a profit margin of 23.91% underscore operating resilience. Growth has moderated, with quarterly revenue up 7.10% year over year and quarterly earnings down 3.90%, but operating efficiency remains high and leverage is minimal. With 387.13B of cash against 10.96B of debt and robust free cash flow, PDD has room to keep investing, defend share, and navigate pricing actions. Recent coverage skews constructive, and short interest is modest, setting the stage for a three‑year outlook focused on execution, regulation, and competitive intensity.

Airbus SE enters October 2025 with strong equity momentum and stabilizing fundamentals. The shares have gained 52.03% over 12 months, approaching a 52-week high of 198.34 and trading above the 50- and 200-day moving averages. On the fundamentals side, trailing‑twelve‑month revenue stands at 70.02B, with a 7.04% profit margin and 6.23% operating margin; net income is 4.93B and EBITDA 7.14B. Liquidity and leverage look balanced with 12.01B in cash, 13.35B in total debt and a 1.16 current ratio, though levered free cash flow remains negative (‑3.73B) despite 6.17B in operating cash flow. A dividend of 2.00 (1.02% yield; 32.05% payout) complements sentiment tailwinds from recent analyst actions, including an upgrade and fresh coverage. The key questions now center on deliveries, cash conversion and sustaining backlog‑driven growth.

As of September 2025, L’Oréal (OR.PA) trades at a premium with a forward P/E of 26.45 and EV/EBITDA of 18.72, supported by durable margins and cash generation. Trailing revenue is 43.84B with quarterly revenue growth of 1.60% year over year, while quarterly earnings growth slipped to -7.90%. Shares closed at 365.05 on September 29, 2025, versus a 52‑week range of 316.30–408.45 and a 52‑week change of -8.74%, underperforming broad markets. Profit margin stands at 13.96% and operating margin at 21.09%, with ROE of 20.16% and beta of 0.85. The balance sheet shows total cash of 4.82B and total debt of 8.83B, with a current ratio of 1.19. Dividend yield is 1.91% (ex‑dividend 5/5/2025). This note outlines a three‑year outlook, key drivers, and scenario paths for the stock.