In today’s briefing:
- Last Week In Event SPACE: Shinko Electric Industries, MGM China, Decente, Sankei Real Estate,
- Novatek (3034.TT): Re-Qualify IPhone OLED Display DDIC; the Downturn Might Be Ending Soon.
Last Week In Event SPACE: Shinko Electric Industries, MGM China, Decente, Sankei Real Estate,
- If Descente Ltd (8114 JP) earnings disappoints, buy the dip. Itochu Corp (8001 JP) is buying for the long-term.
- MGM China Holdings (2282 HK) has gained market share in mass table market, VIP, and total revenue. Yet MGM’s FY24E EV/EBITDA is ~40% below its two-year forward average EV/EBITDA pre-Covid.
- If you had a J-REIT portfolio, Sankei Real Estate (2972 JP) would go in and push something else out or smaller. I think one gets beta-plus, which is usually called alpha.
Novatek (3034.TT): Re-Qualify IPhone OLED Display DDIC; the Downturn Might Be Ending Soon.
- Novatek Microelectronics Corp (3034 TT)‘s outlook is expected to be slightly negative QoQ in 4Q23F.
- The Apple (AAPL US) iPhone 16 qualification samples of Novatek OLED DDIC is targeting to deliver by 4Q23F.
- Novatek is increasing its wafer orders at UMC in 4Q23F.
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