In today’s briefing:
- Semiconductor Events Deserving Your Attention @ 7/8/23
- Ohayo Japan| Equities Rebound; Yields Rise; NUGGET: Sustainable Aviation Fuel -ENEOS Joins the Party
- [Blue Lotus Sector Update]: Time to Buy China Internet and Consumer Names
- Earnings: Intel, AMD, ANET, ON, RMBS, SITM, QCOM, QRVO
- Weekly Sustainable Investing Surveyor Week Ended August 4, 2023
Semiconductor Events Deserving Your Attention @ 7/8/23
- Global semi sales for the month of June 2023 amounted to $41.5 billion, +1.7% MoM but still down ~17% YoY.
- Nanya reported monthly revenue for July 2023 of NT$ 2,437 million, a slight decrease MoM and still down 44.5% YoY:
- For the YTD through July, ASPEED’s revenue is down 47% YoY. This translates into a similar percentage decrease in global server sales YoY in 2023.
Ohayo Japan| Equities Rebound; Yields Rise; NUGGET: Sustainable Aviation Fuel -ENEOS Joins the Party
- OVERSEAS. All Major US Equity Indices rose: SPX +0.7%; Dow 1.2% after a last weeks sell off; US 10Yr yields rise on anticipated increased sales; Mgmt Transition worries at Tesla?
- JAPAN. NKY Futures +0.5% vs Cash; USDJPY 142.5; METI releases guidelines on developing AI HR; Toshiba tend to start (finally!); Broker upgrades to MHI(7011) (A bit late to the party)
- NUGGET. ENEOS to collaborate with Total Energy (France) to produce SAF. SAF has huge potential and we think its worth paying attention to as Japan pushes its carbon-zero agenda.
[Blue Lotus Sector Update]: Time to Buy China Internet and Consumer Names
- We view the rallies in Chinese Internet and Consumer names to be sustainable in C3Q23 as regulatory environment to be both favourable and macro environment to be conducive;
- Our China Internet top picks are Meituan and Tencent, and investors could buy PDD and NetEase after 2Q23 earnings.
- Domestic consumption will also bottom out, but sustainability only confines to a few, our top picks in China consumer names are Miniso, Luckin Coffee, and Atour.
Earnings: Intel, AMD, ANET, ON, RMBS, SITM, QCOM, QRVO
- Let’s first talk about Intel. Intel reported earnings last week, and what a surprise; they managed to have a beat and raise!
- I wrote about this in “Is this the Intel Inflection,” noting that, for once, they had low enough hurdles to jump over.
- Most of this quarter’s strength came from Client computing, while Datacenter looked better than feared. There is a slight restocking event with the back-to-school season, which implies that the worst is done for PC CPU inventories.
Weekly Sustainable Investing Surveyor Week Ended August 4, 2023
- Ocean Power Technologies, Inc. (OPT) offers products and consulting services for ocean data collection and reporting, maritime power, offshore communications, and Maritime Domain Awareness (MDA).
- Its PowerBuoy system generates clean electricity independent of the grid in offshore sites. OPT offers Wave Adaptive Modular Vessel (WAM-V) technology, which enables roaming capabilities for uncrewed maritime systems in waters.
- The company also provides subsea battery systems, strategic consulting services, software, controls, sensors, and marine installation services.
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