Concise Playbook for the Week, Global Markets Playbook

Kevin George

Concise Playbook for the Week

Global Markets Playbook

I am an active trader in stocks, FX and commodities with over 15 years' market experience. I hold a master's degree in finance and have developed a strong skill base in technical analysis. 

Alongside technical setups I will provide earnings analysis, company valuation analysis and macroeconomic studies for the key market releases.

Equity Bottom-Up

<ul>
<li>Micron Technology, Inc. reported fiscal Q1 2023 earnings and announced cost-cutting measures.</li>
<li>Macroeconomic trends are still a drag, according to the company.</li>
<li>The company also announced cost cutting measures for the next year's fiscal year.</li>
</ul>


Micron Technology, Inc. reported fiscal Q1 2023 earnings and announced cost-cutting measures.
Macroeconomic trends are still a drag, according to the company.
The company also announced cost cutting measures for the next year's fiscal year.


Micron Fiscal Q1: Short-Term Pain For Long-Term Gain

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>Micron released its latest results, missing expectations and implying more near-term pain for the memory chip space.</li>
<li>Hon Hai could shift 30% of its production for Apple outside of China according to an industry report.</li>
<li>Intel delays German expansion citing cost inflation, seeking additional government subsidies.</li>
</ul>


Micron released its latest results, missing expectations and implying more near-term pain for the memory chip space.
Hon Hai could shift 30% of its production for Apple outside of China according to an industry report.
Intel delays German expansion citing cost inflation, seeking additional government subsidies.


Taiwan Tech Weekly: Micron Earnings Miss Implies Margin Downside, Hon Hai Moving 30% Apple Business

Semiconductor Analysis & Research, Ingenuity

Semicon Alpha

Semiconductor Analysis & Research

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Thematic (Sector/Industry)

<ul><li>The origins of the current semiconductor downturn can be traced back to last May.</li><li>That’s when the leading PC OEMs posted their first quarter results, and in some cases, their second quarter outlook.</li><li>For some context, it is well understood that the pandemic roused the slumbering PC market to an extraordinary degree after the initial shock waves reverberated around the globe in Q1 2020.</li></ul>

The origins of the current semiconductor downturn can be traced back to last May.That’s when the leading PC OEMs posted their first quarter results, and in some cases, their second quarter outlook.For some context, it is well understood that the pandemic roused the slumbering PC market to an extraordinary degree after the initial shock waves reverberated around the globe in Q1 2020.

Hon Hai Precision Industry / Equity Bottom-Up

<ul>
<li>Hon Hai's Zhengzhou iPhone plant to return to full production? Shares pop</li>
<li>Nanya Tech shares worst performers last week - We remain near-term negative</li>
<li>Intel &amp; TSMC trade flattish last week -- Intel currently at UBS's TMT conference</li>
</ul>


Hon Hai's Zhengzhou iPhone plant to return to full production? Shares pop
Nanya Tech shares worst performers last week - We remain near-term negative
Intel &amp; TSMC trade flattish last week -- Intel currently at UBS's TMT conference


Taiwan Tech Weekly: Hon Hai IPhone Plant Recovery, Nanya Slumps, Intel Foundry Potential in 2023

<ul>
<li>Nanya Tech shares have dropped, but there's still a 10% trading sell from these levels.</li>
<li>The company had dramatically outperformed the Taiwan market and Memory chip peers, yet is heading into weakening end-demand with inventory levels at multi-year highs.</li>
<li>We see the potential for inventory write-downs and a negative operating margin in the coming quarters. Meanwhile, opportunities for near-term good news appear limited.</li>
</ul>


Nanya Tech shares have dropped, but there's still a 10% trading sell from these levels.
The company had dramatically outperformed the Taiwan market and Memory chip peers, yet is heading into weakening end-demand with inventory levels at multi-year highs.
We see the potential for inventory write-downs and a negative operating margin in the coming quarters. Meanwhile, opportunities for near-term good news appear limited.


Nanya Technology: Inventory Risk, A 10% Downside Trade Is Still Available

United States

Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Micron Technology (MU US)

Micron Fiscal Q1: Short-Term Pain For Long-Term Gain

Micron Technology, Inc. reported fiscal Q1 2023 earnings and announced cost-cutting measures. Macroeconomic trends are still a drag, according to...

Kevin George

Taiwan Tech Weekly: Micron Earnings Miss Implies Margin Downside, Hon Hai Moving 30% Apple Business

Micron released its latest results, missing expectations and implying more near-term pain for the memory chip space. Also -- U.S. chip restrictions...

Vincent Fernando, CFA

Anatomy Of A Semiconductor Downturn

The origins of the current semiconductor downturn can be traced back to last May. That’s when the leading PC OEMs posted their first quarter...

Semicon Alpha

Taiwan Tech Weekly: Hon Hai IPhone Plant Recovery, Nanya Slumps, Intel Foundry Potential in 2023

Intel & TSMC trade flattish last week -- Intel currently at UBS's TMT conference. Reuters reports that Hon Hai's Zhengzhou facility is recovering.

Vincent Fernando, CFA

Nanya Technology: Inventory Risk, A 10% Downside Trade Is Still Available

We see the potential for inventory write-downs and a negative operating margin in the coming quarters. Meanwhile, opportunities for near-term good...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)