In today’s briefing:
- Micron. So Long Legacy & Hello There HBM, Data Center & Leading Edge
- Tech Supply Chain Tracker (26-Dec-2024): AI inkjet tech offers precise semiconductor coating.
- Erajaya Swasembada (ERAA IJ) – Set up for a Stronger 2025
- United Microelectronics: Key QCOM Advanced Packaging Win Signals Client Shift Away from TSMC
Micron. So Long Legacy & Hello There HBM, Data Center & Leading Edge
- Micron’s Q1F25 met expectations on key metrics but the ~9% downward guidance for the current quarter sent the share price into a tailspin
- Consumer-Related inventory issues and China competition were highlighted as the root causes for the surprise downward guide
- Micron is ok to cede legacy products to China competition and focus instead on the much more lucrative leading edge products, especially HBM. The transition could be rocky however
Tech Supply Chain Tracker (26-Dec-2024): AI inkjet tech offers precise semiconductor coating.
- AI inkjet breakthrough in semiconductor manufacturing promises more precise coating, revolutionizing tech industry processes.
- China’s price war in EV sector causes financial chaos and supply chain disruptions for 2 years, impacting global market.
- US House considers OLED import ban following patent dispute with Samsung Display Corporation, keeping spotlight on patent issues.
Erajaya Swasembada (ERAA IJ) – Set up for a Stronger 2025
- Erajaya Swasembada booked a strong performance in 3Q2024 but 4Q2024 is likely to be the peak seasonal quarter for sales, even with no sales of iPhone 16.
- Chinese brands have accelerated the availability of affordable handsets, which should help to drive sales. JD Sports will be consolidated in December and Grand Lucky is performing well.
- Erajaya Swasembada (ERAA IJ) will continue to expand Erajaya Digitial in 2025, Erablue stores already be at 76 stores by November. Valuations remain attractive along with a strong growth profile.
United Microelectronics: Key QCOM Advanced Packaging Win Signals Client Shift Away from TSMC
- UMC Secures Key Qualcomm Advanced Packaging Order; Breakthrough in High-Growth Chip Supply Chain Segment
- Why TSMC Remains Critical for QCOM Manufacturing, Yet UMC Provides a Strong Strategic Counterbalance
- UMC Must Prove Itself, but QCOM Win Sparks Optimism for Sentiment and Outlook Recovery — Maintain TSMC as Structural Long & Rate UMC as Outperform
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