Daily Brief TMT/Internet: Cal Comp Electronics Thailand, LG CNS, Broadcom , ServiceTitan, Nasdaq-100 Stock Index, Huawei Technology, Mediatek Inc, TT Electronics plc, Wistron Corp, Trimble Navigation and more

• There will be 4 changes for the Stock Exchange of Thailand SET 50 Index (SET50 INDEX) at the close on 30 December.
• All changes are in line with our forecasts and there appears to be positioning in all the stocks.
• Cal Comp Electronics Thailand (CCET TB) will have the largest passive buying a percentage of free float and could be the stock to watch.

• LG CNS (LGCNSZ KS) is looking to raise around US$850m in its upcoming Korea IPO.
• LG CNS is a South Korean information technology company. The firm primarily provides comprehensive digital transformation services and solutions backed AI, big data, and cloud.
• In our previous notes, we looked at the firm’s past performance and undertook a peer comparison. In this note, we discuss our thoughts on valuation.

• Broadcom Inc.’s financial results for the fourth quarter and fiscal year 2024 reveal a year marked by significant growth driven by strategic acquisitions and advancements in AI technologies.
• The company’s consolidated revenue for the fiscal year reached $51.6 billion, showcasing a 44% year-over-year increase.
• This growth was bolstered not only by strong organic growth of over 9% but also by the strategic acquisition and integration of VMware, which contributed notably to Broadcom’s financial achievements.

• ServiceTitan (TTAN US) is ineligible for the one Global Index for the next 12 months due to undisclosed shareholdings which remain locked for one year following the IPO.
• ServiceTitan (TTAN US) is ineligible for the next 6 months for the US and the other Global Index because it fails public voting rights.
• ServiceTitan’s earliest addition is forecasted for September 2025 in the one Global Index following the IPO lock-up expiry unless there is a material conversion of unlisted shares.

• The Nasdaq-100 Index (NDX INDEX) dropped 3.6% following the FED’s communication of fewer than previously expected rate cuts in 2025. Quantitative analysis suggests that the Index is oversold.
• Implied volatility spikes up from low levels to above median levels. The Skew steepens considerably as traders brace for more downside.
• Risk Reversals are attractively priced right now in historic comparison. Parameters of a zero-cost risk reversal strategy are presented as an example.

• The tech giant Huawei Technologies Co. Ltd is to complete the spinoff of its intelligent automotive business unit to become an independent company, Shenzhen Yinwang Intelligent Technology Co.

• Huawei’s aim is to solidify its position as a leading smart vehicle supplier amid industry challenges and expanding partnerships.

• Founded in 2019, Huawei’s car business unit originally said it would not make cars itself, but focus on supplying automotive components, particularly autonomous driving systems, through its Huawei Inside (HI) model.

• Alphabet (GOOGL US) Pixel 10 will use the Mediatek Inc (2454 TT) T9000 modem.  
• The shipment quantity to the smartphone market is small, and we see this as a small triumph for Mediatek Inc (2454 TT).
• Samsung Electronics (005930 KS) is facing a 3nm process issue and lacks the capacity to support its own smartphone CPU Exynos 2400.

• TT Electronics issued a profit warning, causing shares to drop by 37%
• Despite this, the company’s balance sheet is strong and management is capable
• Stock is now at its cheapest since 2008-09, presenting an attractive opportunity for investors looking beyond the short term

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• China leads the battery materials market as South Korea’s Posco considers exiting, while Lotte gears up for mass production of LFP batteries.
• Rapidus focuses on installing EUV equipment for multiple units deployment amidst industry challenges, while Micron sees record data center sales but misses guidance targets.
• Nvidia eyes Taiwan for humanoid robot assembly, Japan enters 2nm chip race alongside Samsung, Intel, and TSMC amid supply chain obstacles.

• Trimble Inc. recently presented its third-quarter financial results, showcasing both progress and challenges within its strategic framework.
• The Connect & Scale strategy, designed to harness digital connectivity across various industrial stakeholders, continues to be a focal point for Trimble.
• This framework not only aims for technological bridging between users and data in fields like engineering, construction, transportation and logistics but also strives for operational uniformity through shared technology and backend systems.