Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Equity Bottom-Up

<ul>
<li>Micron is doing very well lately, mainly from its position in HBM, and this is likely to be a key positive factor in their upcoming June 25 earnings call</li>
<li>Hyperscaler CapEx has slowed, but the CapEx share of revenues continues to rise, indicating speculation that AI growth will come</li>
<li>Despite the above, Nvidia revenues have continued to grow, which is a positive indication for HBM sales</li>
</ul>


Micron is doing very well lately, mainly from its position in HBM, and this is likely to be a key positive factor in their upcoming June 25 earnings call
Hyperscaler CapEx has slowed, but the CapEx share of revenues continues to rise, indicating speculation that AI growth will come
Despite the above, Nvidia revenues have continued to grow, which is a positive indication for HBM sales


Micron Upcoming Earnings Vs.Hyperscaler CapEx Slowdown

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

Cross Asset Strategy

<ul>
<li>Technical analysis can help you keep your zen as it cuts through the noise by providing a set of rules on when to buy, sell, or just sit tight.</li>
<li>There are many technical indicators, but using both the simple moving average and the moving average convergence divergence can tell you most of what you need to know</li>
<li>Here’s how the two indicators work, what makes them so effective when using them together, and a look at a few major stock ETFs,  gold, bitcoin, and the Mag 7.</li>
</ul>


Technical analysis can help you keep your zen as it cuts through the noise by providing a set of rules on when to buy, sell, or just sit tight.
There are many technical indicators, but using both the simple moving average and the moving average convergence divergence can tell you most of what you need to know
Here’s how the two indicators work, what makes them so effective when using them together, and a look at a few major stock ETFs,  gold, bitcoin, and the Mag 7.


Two Technical Indicators, And The Top Trades They’re Pointing To Now

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>Overseas hyperscalers (Amazon, Google, Meta, and Microsoft, covered by our internet team) have all released their CY1Q25 earnings.</li><li>During the quarter, the aggregated capex of the Big Four held strong at US$73bn, up 63% YoY and flattish QoQ, after hitting a record of US$72.8bn in CY4Q24 (up 68% YoY / 22% QoQ).</li><li>The outlook for the rest of 2025 remains optimistic. Amazon, Google and Microsoft doubled down on their spending plans, while Meta revised up its capex target by 7%-11% from its previous plan. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Overseas hyperscalers (Amazon, Google, Meta, and Microsoft, covered by our internet team) have all released their CY1Q25 earnings.During the quarter, the aggregated capex of the Big Four held strong at US$73bn, up 63% YoY and flattish QoQ, after hitting a record of US$72.8bn in CY4Q24 (up 68% YoY / 22% QoQ).The outlook for the rest of 2025 remains optimistic. Amazon, Google and Microsoft doubled down on their spending plans, while Meta revised up its capex target by 7%-11% from its previous plan. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Semiconductors - Thematic Investing and Megatrends: Resilient 1Q25 Capex Among Hyperscalers

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Himax Technologies Inc Adr / Equity Bottom-Up

<ul>
<li>
Auto ICs over 50% of revenue and maintaining market share leading position, but 2Q25 guidance reflects China auto industry caution as China stimulus repeat impact fades and inventory stays lean.</li>
<li>
Himax advances in co-packaged optics (CPO) shipping samples; to supply TSMC and NVIDIA; Separately, Himax's AR display tech may align with META's needs.</li>
<li>
Strong auto positioning with 200+ Tcon design wins and CPO opportunity in AI/HPC supply chain reinforce long-term upside, despite soft near-term visibility. Maintain our Structural Long view on Himax.</li>
</ul>



Auto ICs over 50% of revenue and maintaining market share leading position, but 2Q25 guidance reflects China auto industry caution as China stimulus repeat impact fades and inventory stays lean.

Himax advances in co-packaged optics (CPO) shipping samples; to supply TSMC and NVIDIA; Separately, Himax's AR display tech may align with META's needs.

Strong auto positioning with 200+ Tcon design wins and CPO opportunity in AI/HPC supply chain reinforce long-term upside, despite soft near-term visibility. Maintain our Structural Long view on Himax.


Himax Advances Optical Chip Solutions for NVIDIA and TSMC; But Fog Lingers Over China Auto Recovery

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>K-Beauty ODM segment appears positioned both to ride the secular growth of Korean skincare in the U.S. and to tide over tariff turbulence given their US based manufacturing facilities.</li>
<li>By contrast to OEM/ODM players, major legacy consumer beauty brands like AmorePacific, LG Household &amp; Health Care have been slower to localise production leaving them exposed to reciprocal tariffs.</li>
<li>With American cosmetic imports from Korea hitting all-time highs, Korean ODMs with local facilities could see demand growth and profit recovery as clients onshore production to avoid tariffs.</li>
</ul>


K-Beauty ODM segment appears positioned both to ride the secular growth of Korean skincare in the U.S. and to tide over tariff turbulence given their US based manufacturing facilities.
By contrast to OEM/ODM players, major legacy consumer beauty brands like AmorePacific, LG Household &amp; Health Care have been slower to localise production leaving them exposed to reciprocal tariffs.
With American cosmetic imports from Korea hitting all-time highs, Korean ODMs with local facilities could see demand growth and profit recovery as clients onshore production to avoid tariffs.


Kolmar Korea: K-Beauty ODMs- Positioned to Ride US Demand Growth While Tiding Over Tariffs

United States

Meta Platforms Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. meta Platform is also involved in advertisements, augmented and virtual reality.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Meta (META US)

Micron Upcoming Earnings Vs.Hyperscaler CapEx Slowdown

Micron's strong position in HBM and Nvidia's continued revenue growth suggest positive outcomes for upcoming earnings calls, despite a slowdown in...

Jim Handy

Two Technical Indicators, And The Top Trades They’re Pointing To Now

Technical analysis can help you keep your zen when markets are volatile and unpredictable. Here's an update on the main ETFs, bitcoin, gold, and...

Finimize Research

Semiconductors - Thematic Investing and Megatrends: Resilient 1Q25 Capex Among Hyperscalers

Bloomberg consensus projects the Big Four’s capex to increase by 48% YoY / 8% QoQ to ~US$78.6bn in CY2Q25E, and full-year capex to top US$319bn...

CMB International

Himax Advances Optical Chip Solutions for NVIDIA and TSMC; But Fog Lingers Over China Auto Recovery

Himax's automotive display IC market position remains extremely stromg; however cautious on China near-term; Successfully advancing in CPO and AR...

Vincent Fernando, CFA

Kolmar Korea: K-Beauty ODMs- Positioned to Ride US Demand Growth While Tiding Over Tariffs

Korean Beauty OEMs seem more resilient than bigger consumer beauty brands in handling tariff impact given their US based manufacturing facilities...

Devi Subhakesan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Micron Upcoming Earnings Vs.Hyperscaler CapEx Slowdown

​Micron's strong position in HBM and Nvidia's continued revenue growth suggest positive outcomes for upcoming earnings calls, despite a slowdown in...

Jim Handy

Two Technical Indicators, And The Top Trades They’re Pointing To Now

Technical analysis can help you keep your zen when markets are volatile and unpredictable. Here's an update on the main ETFs, bitcoin, gold, and...

Finimize Research

Semiconductors - Thematic Investing and Megatrends: Resilient 1Q25 Capex Among Hyperscalers

Bloomberg consensus projects the Big Four’s capex to increase by 48% YoY / 8% QoQ to ~US$78.6bn in CY2Q25E, and full-year capex to top US$319bn...

CMB International

Himax Advances Optical Chip Solutions for NVIDIA and TSMC; But Fog Lingers Over China Auto Recovery

​Himax's automotive display IC market position remains extremely stromg; however cautious on China near-term; Successfully advancing in CPO and AR...

Vincent Fernando, CFA

Kolmar Korea: K-Beauty ODMs- Positioned to Ride US Demand Growth While Tiding Over Tariffs

Korean Beauty OEMs seem more resilient than bigger consumer beauty brands in handling tariff impact given their US based manufacturing facilities...

Devi Subhakesan

Micron's strong position in HBM and Nvidia's continued revenue growth suggest positive outcomes for upcoming earnings calls, despite a slowdown in...

Himax's automotive display IC market position remains extremely stromg; however cautious on China near-term; Successfully advancing in CPO and AR...