In today’s briefing:
- Ohayo Japan | AI Fever; Nvidia +9% After-Hours
- [Blue Lotus Daily]: 1211 HK/300750 SZ/1810 HK/ATAT/HTHT/3690 HK/BEKE
- [Blue Lotus Daily – TMT Update]: NTES/700 HK/PDD/AMZN/SHEIN/ZTO/1519 HK/PDD/BABA
- Earnings (LSCC, ANET, GFS, Tokyo Electron, SITM, ENTG, AMAT)
Ohayo Japan | AI Fever; Nvidia +9% After-Hours
- Nvidia Q4 revenue +260% to $22 billion; Q1 guidance $24 billion; beats already high expectations
- Nikkei Futures point to a higher open; expect domestic market to on semicon names
- Inflation expectations are on the rise in Japan. Honda announces largest wage increase since 1989
[Blue Lotus Daily]: 1211 HK/300750 SZ/1810 HK/ATAT/HTHT/3690 HK/BEKE
- 1211 HK: BYD’s battery subsidiary FinDreams signed a lithium iron phosphate battery production agreement with Borg Warner (+)
- 1810 HK: OPPO AI strategic press conference officially announced to be held on February 20, dubbed as ‘Opening the era of AI phones for all’ (-)
- BEKE: Real Estate Industry: Existing home sales increased 70% yoy in CNY holiday(+)
[Blue Lotus Daily – TMT Update]: NTES/700 HK/PDD/AMZN/SHEIN/ZTO/1519 HK/PDD/BABA
- NTES/700 HK: Tencent’s <Dream Star> didn’t perform as well as NetEase’s <Eggy Party> during the Spring Festival.(+/-)
- PDD/AMZN/SHEIN: Temu search queries pass SHEIN after running Super Bowl ads (+/-/-)
- ZTO/1519 HK/PDD/BABA: Parcel volume delivery increased ~31% during the Spring Festival period (+)
Earnings (LSCC, ANET, GFS, Tokyo Electron, SITM, ENTG, AMAT)
- Lattice is just too expensive for what it is. It’s one of the highest multiples in the space, but I acknowledge we are closer to the trough than the peak.
Tokyo Electron continues to be bullish high aspect etch and reports that they are winning in DRAM and hopefully in NAND in the future.
Arista says that AI revenue is yet to come, and 800G will mostly be in 2025, not 2024. The market got ahead of itself.
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