In today’s briefing:
- Japan Weekly | IHI, KHI, Kyocera
- Tencent/SEA/Unity/Krafton: More Shooting Games Are Emerging, a Summary of Our Recent Channel Checks
- Chinese Computer Maker Says Its Chip Was Made With ‘Support’ From Intel
Japan Weekly | IHI, KHI, Kyocera
- Japanese stocks up +2% for the week taking year-to-date gains to 18%.
- Lots of thematic reasons to buy – AI, Hydrogen, foreign buying, weak yen, and “not China”
- ISS has Kyocera in its cross-hairs. We still think IHI and KHI are cheap despite this weeks wins
Tencent/SEA/Unity/Krafton: More Shooting Games Are Emerging, a Summary of Our Recent Channel Checks
- We recently visited some start-up game companies in China and concluded that the Chinese gaming market has entered a matured period of competition for existing users;
- Tencent’s games remain relatively stable, but information about new RMB 10bn level blockbusters is still unknown. New shooting games continue to appear, putting pressure on existing survival shooting games;
- We (1) maintain our BUY for Tencent and Unity, (2) maintain SELL for Sea, and (3) downgrade Krafton to SELL to reflect the new competition that shooting games will face.
Chinese Computer Maker Says Its Chip Was Made With ‘Support’ From Intel
- Chinese computer manufacturer Powerleader Computer System Co. Ltd. is fending off allegations that its new central processing unit (CPU) is an old Intel chip in disguise, saying it was developed with support from the U.S. chipmaking giant.
- The Shenzhen-based company unveiled its first-generation Powerstar P3-01105 CPU in early May.
- Chairman Li Ruijie said at the launch event that the chip, designed mainly for desktops in the commercial market, is based on Intel’s x86 architecture under a collaboration with the U.S. firm.
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