Daily Brief Equity Bottom-Up: Taiwan Tech Weekly: TSMC’s Latest Sub-Industry Guidance; PC Names Strong; Computex & Apple WDC Ahead and more

• TSMC’s Latest 2024E Industry Guidance Provided at Symposium in Taiwan
• More Potential Details on Nvidia & Mediatek’s AI PC Chip to Compete with Qualcomm & Intel
• Samsung’s HBM DRAM Chips Face Challenges in Meeting Nvidia’s AI Requirements

• Vanguard should declare to established 12″ Fab in Singapore within 2014.
• Vanguard is likely to announce the establishment of 2 sets of 12″ fabs in the next 6 months.  
• China is expanding 28/22nm and above technologies, and we believe it’s more appropriate for Vanguard to compete with others rather than TSMC.

• The NHSA issued a Notice on “improving the quality and expanding the scope of VBP”. The trend of full coverage of VBP of conventional drugs/consumables is determined.TCM is under pressure.
• We analyzed the potential demand growth rate of the glove industry, which is already better than most cyclical stocks. Therefore, we see no need to remain pessimistic about this industry.
• Holding platform companies have valuation discounts.HK$50-60 billion is reasonable market value for China Resources Pharmaceutical.Better to go long when share price is below HK$5 and then hold to receive dividends.

• Since late 2020, Search’s share of digital advertising revenue has stabilised at around 8-10%, seemingly retaining its core advertising customers and industries.
• Baidu management expects AI Cloud to maintain strong revenue growth momentum in the upcoming quarters.
• Baidu trades on a 3.6x NTM EV/EBITDA multiple, well below one standard deviation lower than its 5-year historical average trading range and the lowest it has ever been.

• Our index shows April pricing momentum remained positive in deep-sea trades
• Evergreen Marine posted strong revenue and earnings growth in Q124
• Container carriers have performed well YTD in 2024; we expect convergence

• In 1Q24, Revenues of Xpeng, Tongcheng, Kanzhun, and Gaotu grew by 62% YoY, 50%, YoY, 43% YoY and 34% YoY.
• KE’s revenue decreased by 20% YoY in 1Q24 due to the weak property market.
• Bilibili’s value added services revenue grew by 17% YoY and advertising revenue grew by 31% YoY.

• Recommendation to buy ISEC shares at Rs 840 per share with a price target of Rs 1200 per share
• Dissatisfaction among minority shareholders due to insider’s attempt to acquire remaining shares at a lower price
• Illiquidity and limited institutional investors due to Parent owning 75% of shares, potential merger poses a risk but shareholders can extract fair value even in a merger scenario

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Pluxee is a spin-off company with a strong business model, offering an attractive investment opportunity.
• The company’s undervalued stock price and potential for growth make it a compelling choice for investors.
• With large insider ownership, new initiatives, and the Bellon family as controlling shareholders, Pluxee is expected to see improvements and long-term success.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Warby Parker disrupted the eyewear industry in 2010 with affordable prices and innovative styles, known for their commitment to social impact
• The company has faced challenges with slowing growth and increased competition, leading to concerns about its uniqueness and disrupter status
• Critics believe that Warby Parker’s focus on technology and business model changes indicate a potential decline, making it a target for short selling.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.