In today’s briefing:
- Ohayo Japan | A Busy Week of Earnings
- Gate All Around Transistors. Evolution Or Revolution & Why It Matters
- Japan Morning Connection: Potential for Disco to Push Higher with Positive HBM Outlook
- Earnings: TSMC, ASML, AEHR, Telecom
- # 66 India Insight: Power Finance & BEML MOU Zee Entertainment Governance Issue, ONGC & BPCL MOU
Ohayo Japan | A Busy Week of Earnings
- Stocks ended mixed on Monday as the 10-year Treasury yield rose to 4.18%, its highest since July, while investors braced for a busy week of earnings
- VF Corp’s stock dropped 8% after JP Morgan placed the company on its “Negative Catalyst Watch” list, citing wholesale challenges and ongoing traffic headwinds.
- SAP reported Q3 results post market close, with the stock gaining 4% after hours. Fujitsu should benefit from similar trends.
Gate All Around Transistors. Evolution Or Revolution & Why It Matters
- If GAA is better viewed as a revolutionary change, it implies that Intel, Samsung and TSMC will transition to GAA with a largely level playing field
- If GAA is better viewed as an evolutionary change, TSMC will carry forward its process technology leadership into its GAA transition, leaving it in the #1 position
- We think that the GAA transition is evolutionary, not revolutionary and posit that TSMC will continue to maintain its semiconductor process technology leadership through the transition.
Japan Morning Connection: Potential for Disco to Push Higher with Positive HBM Outlook
- NVDA saving tech from a bigger pullback as the market takes profits ahead of earnings.
- Rates higher and causing a pullback in R/E related and the yen is approaching Y151.
- Disco’s better-than-expected outlook for HBM related equipment should leave more room for upside.
Earnings: TSMC, ASML, AEHR, Telecom
- I don’t think it’s been any secret that I’ve been a peak litho bear for quite some time. I think we are finally seeing reality hit the company and the stock. Let’s discuss earnings, and then I’ll talk about peak lithography and TSMC.
- ASML accidentally leaked earnings this week, and the leak wasn’t good. They beat Q3, but the issue was the outlook for next year and orders coming way below expectations. It’s funny because Q4 revenue is expected to accelerate, but no one is paying attention to that.\
- Memory was half of the measly 2.6 billion-order book and is likely driven more by DUV for HBM than logic High NA.
# 66 India Insight: Power Finance & BEML MOU Zee Entertainment Governance Issue, ONGC & BPCL MOU
- PFC and BEML Sign MoU for Defence and Infrastructure Projects
- Zee Entertainment Seeks Settlement with SEBI Over the Governance Issues
- ONGC and BPCL Search for Global Partners to Build Greenfield Refineries
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
