In today’s briefing:
- Ohayo Japan | Nasdaq Record High Ahead of Nvidia Results
- Silicon Wafer Q124 Review, CY24 Outlook & Earthquake Risk
- Earnings Subsystems (MKSI, ICHR, UCTT), Semicap (ONTO, CAMT, AMAT, TOELY), and SiTime
Ohayo Japan | Nasdaq Record High Ahead of Nvidia Results
- The tech-heavy Nasdaq rose by +0.65%, powered by a 2% gain in Nvidia’s share price
- Top Japanese companies agreed to an average wage increase of 5.58% during the annual shunto labor talks in March, the largest in 33 years
- Denso announced it will sell 78,127,800 shares, or 4.4%, of Renesas Electronics, more than half of its 8.6% stake.
Silicon Wafer Q124 Review, CY24 Outlook & Earthquake Risk
- Q124 silicon wafer area shipments amounted to 2,834 MSI, down 5% QoQ and down 13.2% YoY.
- In revenue terms, the top 4 global manufacturers reported revenues of $2.2 billion, down 10.4% QoQ and down 20.8% YoY.
- Taiwan’s recent earthquake did not impact Globalwafers shipments due to high inventory levels. However, tools were damaged, highlighting the risk of having so much wafer production in earthquake prone countries
Earnings Subsystems (MKSI, ICHR, UCTT), Semicap (ONTO, CAMT, AMAT, TOELY), and SiTime
Subsystems did the results you should expect, and MKSI did a questionable (and understandable) convertible offering that tanked shares right after.
All subsystems (except Ichor which sucks) look to be in a much better spot.
The summary is that Subsystems revenue should continue improving into the second half and that 2025 will be a strong year.
💡 Before it’s here, it’s on Smartkarma
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