Lenovo (0992.HK) Stock Doubles in May 2026, Best Month Since 1999 on AI Rally

Lenovo Group Ltd. (0992.HK) shares doubled in May 2026, their best monthly performance since 1999, as investor enthusiasm grew around its AI-driven growth outlook. The rally accelerated after fiscal-year earnings showed AI-related revenue helped offset pressure from rising component costs, making it the best performer on the Hang Seng China Enterprises Index this year. The stock surged 22% on Friday, May 29, capping a 105% monthly gain. The advance was bolstered by Dell Technologies Inc.’s upbeat guidance on strong AI server demand, which lifted computer hardware stocks across Asia. Goldman Sachs more than doubled its price target on Lenovo, further fueling sentiment. The company’s solid margins and AI server prospects helped it buck the trend of Hong Kong-listed tech peers, where the Hang Seng Tech Index has fallen about 12% in 2026.