PSA Capital Goods, Electrical Equipment: Fujikura (5803 JT) - Still Ri...

Fujikura (5803 JT) - Still Riding the AI Theme FY24-FY26 FY24 OP guidance was raised 17% to ¥104bil (+50% YoY) with the release of record Q2 OP of ¥30.7bil (+69% YoY). Consensus FY24 OP is around ¥99~100bil but we expect Fujikura (5803 JT) to come well above its new guidance as (1) ¥140/USD is assumed by H2 guidance and (2) management conservatively assumes OPMs could fall back as high-margin product production is ramped up. Please see attached report by analyst Will Nestuk for details.

Wolfspeed 1FQ25: Margin pressure, substrate oversupply.Lack of scale i...

Wolfspeed reported 3Q24 (1FQ25) yesterday. Please see the link below for our take on the print.

Apple 4FQ24: Guide miss in line with our thesis – iPhone 16 cycle at r...

Apple reported 4FQ24 (3Q24) yesterday.

Samsung Electronics: 2 directors

A director at Samsung Electronics bought 188 shares at 58,100.000KRW and the significance rating of the trade was 43/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...

PSA Technology: Read across to Chip Sector from Samsung Electronics' (...

Samsung’s poor performance comes after the strong numbers (and stronger-than-expected) guidance from Micron (MU US). It underscores the complicated nature of the chip sector in the AI chip era – something that was further outlined by the latest global chip market data. Pelham Smithers discusses.

PSA Technology: Potential for Further Printer / Copier Industry Consol...

Pelham Smithers discusses Lexmark’s potential sale and suggests this could revive interest in further consolidation in the Printer / Copier Industry.

PSA Technology / Telco Equipment: Optical Fibre Sensing Starts Post-5G...

Pelham Smithers discusses technological developments in the Innovative Optical & Wireless Network All-Photonics Network.

Sterlite Technologies Ltd: 1 director

A director at Sterlite Technologies Ltd sold 16,158 shares at 125.745INR and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...

PSA Technology / Semiconductors: Micron and the AI Bubble

Micron’s FY24 results are a reminder that the chip industry is still doing well. Pelham Smithers considers what is reflected in the shares price of the wafer fab equipment makers and highlights two Japanese plays that offer undemanding valuations.

Japan Display Inc - Company Profile and SWOT Analysis

Summary Japan Display Inc - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Japan Display Inc (JDI) is an electrical and electronic manufacturing company. The company manufactures and sells small and medium-size displays and related products in Japan and other markets. Its pr...

NSR Tech Policy: Google and the Antitrust State of Play

Last week and this week there was and will be significant activity in two antitrust cases against Google. In this note, we provide an update of what happened, what will happen, various outcomes investors should be thinking about and other cases involving Google and Antitrust.

iPhone 16 unlikely to drive big upgrades

Apple unveiled the latest iPhone earlier today, characterizing the device as being “built from the ground up for Apple Intelligence,” though it seems most of the Apple Intelligence features arrive later this year.

PSA Industrials / Capital Goods: Fujikura (5803 JT) Riding the AI Them...

Fujikura’s share price performance has been impressive, surging three-old YTD, boosted by AI-related data centre demand. Analyst William Nestuk reviews the FY24 Q1 performance, flags where there is upside but also notes capacity contraints.

PSA Information Technology / Consumer Electronics: Apple iPhone 16 Rev...

Pelham Smithers previews the iPhone 16 and offers a readthrough for Japanese suppliers if the design is as expected.

Memory: Rigorous supply/demand discipline driving rapid gross margin r...

Memory COGS (demand) in 2025 will exceed 2022 by >50% while capex will likely only be 20% above. We summarise our thoughts and the implications for the industry in a single slide.

Apple Intelligence beta: how is reception shaping up?

iPhone growth is flattening but expectations for 2025 sales now imply 6% growth, somewhat reflecting an AI refresh. In today’s work, we review the reception of key Apple Intelligence features released in iOS 18 beta, to determine whether it is legitimate at this stage to expect Apple Intelligence to foster replacement.

Bible 2Q24 – Memory: COGS up, inventories down, gross margins up. Cycl...

Today, we are publishing the Memory section of our 24th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Cloud Infrastructure, Telecom Equipment, Industrials, PCs, Enterprise IT, Ride sharing & Delivery, Foundry, and Semicap Equipment. Industry gross m...

Bible 2Q24: Smartphones - Could consumer demand weaken while hopes for...

5 Things to Know in Investing this Week - The Trump Bitcoin Issue

Asteria Corp - Company Profile and SWOT Analysis

Summary Asteria Corp - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Asteria Corp (Asteria) is developer of software, technological products and related services. The company's major products include Asteria Warp, Handbook, Platio, Gravio, Lino, SnapCal. It is also involve...