In today’s briefing:
- China Semi Foundry: Fierce Competition & Sluggish Rebound In Year Of The Dragon
- Index Rebalance & ETF Flow Recap: STAR100, NEXT50, LowVol30, KOSPI200, TW50, NWD, ITC, India Float
- Microchip Technology: How Their Latest Innovations Are Set to Dominate the Market! – Major Drivers
- Quiddity Leaderboard ASX Mar 24: Five ASX 200 Changes Possible Including One Surprise
- Meta Platforms: A Spectacular End To 2023 But What Are The Bumps Ahead On The Road In 2024? – Major Drivers
- PTC Inc: Can The ServiceMax Acquisition Be A Game Changer? – Major Drivers
- Qorvo Inc: New Strategic Partnerships & Other Major Growth Drivers
- Apple Inc.: An Impressive 2024 Lineup But What Does It Mean For Shareholders? – Major Drivers
- Amazon.com Inc: Increased Efforts to Improve Cost Efficiency and Innovation & 5 Other Strategies For 2024! – Financial Forecasts
China Semi Foundry: Fierce Competition & Sluggish Rebound In Year Of The Dragon
- Both SMIC & Hua Hong reported Q423 earnings in line with expectations and both guided Q124 flat to slightly down. SMIC expects FY24 mid single digit growth YoY.
- The downturn has exposed inherent weakness in China’s Semi Foundry segment relative to peers as exemplified by the significant GM disparity
- China’s two leading semi foundries have ~80% domestic dependence. Right now, that’s a headwind
Index Rebalance & ETF Flow Recap: STAR100, NEXT50, LowVol30, KOSPI200, TW50, NWD, ITC, India Float
- There will be a bunch of rebalance announcements towards the start and at the end of the coming week. This includes the HSI, HSCEI, HSTECH, HSCI, HSIII and global indices.
- The review period for the March rebalance of the S&P/ASX 200 and related indices ends on 16 February. The announcement of the changes will come couple of weeks later.
- There were HUGE inflows to mainland China ETFs for yet another week as Central Huijin indicated that they would continue to buy/create ETFs units.
Microchip Technology: How Their Latest Innovations Are Set to Dominate the Market! – Major Drivers
- Microchip Technology, a leading provider of microcontroller and analogue semiconductors, reported its third quarter 2024 financial results which were below expectations as net sales dropped 21.7% sequentially and 18.6% year-over-year due to increased business uncertainty, slowing economic activity, and higher inventory levels among customers.
- Despite a challenging environment, the company’s non-GAAP gross and operating margins showed some resilience at 63.8% and 41.2% respectively.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
Quiddity Leaderboard ASX Mar 24: Five ASX 200 Changes Possible Including One Surprise
- In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2024 index review.
- I expect one change for ASX 20, one change for ASX 100, and five changes for ASX 200 including a surprise deletion due to long term suspension of a stock.
- The official index changes will be announced after the close on Friday 1st March 2024.
Meta Platforms: A Spectacular End To 2023 But What Are The Bumps Ahead On The Road In 2024? – Major Drivers
- Meta delivered a spectacular Q4 FY 2023 Earnings and the company has managed to achieve substantial growth in the past year.
- With more than 3.1 billion users engaging with at least one of Meta’s applications daily, the immense usage indicates the key role that the company plays in shaping online social interactions and connectivity globally.
- A notable highlight of Meta’s 2023 performance was its increased revenue growth, showing remarkable financial strength.
PTC Inc: Can The ServiceMax Acquisition Be A Game Changer? – Major Drivers
- The Q1 results of PTC were promising, marking a good start to fiscal 2024.
- The firm demonstrated robust financial results and the smooth execution of the CEO succession process.
- The company’s Chief Executive Officer, Jim Heppelmann, expressed his confidence in the incoming CEO, Neil Barua, who has shown a deep understanding of the PTC business model and possesses the complete trust of the executive team.
Qorvo Inc: New Strategic Partnerships & Other Major Growth Drivers
- Qorvo, the American semiconductor company, in its Q3 earnings call of fiscal 2024, discussed its financial performance and future outlook.
- Even during challenging times, the company delivered improved financial results.
- Qorvo demonstrated resilience through robust sales figures and significant income for the period.
Apple Inc.: An Impressive 2024 Lineup But What Does It Mean For Shareholders? – Major Drivers
- According to the latest Q1 earnings, Apple Inc.
- showcased an upward trajectory with revenue reaching $119.6 billion for the December quarter – a 2% increase from a year ago.
- The electronics giant reached revenue records in more than two dozen countries and regions, with substantial growth in many emerging markets.
Amazon.com Inc: Increased Efforts to Improve Cost Efficiency and Innovation & 5 Other Strategies For 2024! – Financial Forecasts
- Amazon.com reported bullish Q4 2023 financial results.
- Revenue stood at $170 billion, indicating an upsurge of 13% year-over-year, barring the impact of foreign exchange rates.
- Operating income hiked up to $13.2 billion, showing a YoY growth of 383% or a surge of $10.5 billion.
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