Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Alphabet announces massive capex plans well ahead of ests as a bright spot, but sentiment is down.</li>
<li>ARM and Qualcomm miss after hours as memory shortage concerns increase.</li>
<li>Home Builders rise on plans for low cost "Trump Homes" which may free up access to federal funding.</li>
</ul>


Alphabet announces massive capex plans well ahead of ests as a bright spot, but sentiment is down.
ARM and Qualcomm miss after hours as memory shortage concerns increase.
Home Builders rise on plans for low cost "Trump Homes" which may free up access to federal funding.


Japan Morning Connection: AMD Weakness Sparks Wide Spread Sell-Off Likely to Continue in US Tmrw

<ul>
<li>Big beat for Sandisk with margins set to surge as BiCS8 rollout gathers steam.</li>
<li>Rohm numbers disappoint and new MTP points to delayed AI server revenues.</li>
<li>MLCC maker Taiyo Yuden effectively cuts its FY OP guidance despite headline raise.</li>
</ul>


Big beat for Sandisk with margins set to surge as BiCS8 rollout gathers steam.
Rohm numbers disappoint and new MTP points to delayed AI server revenues.
MLCC maker Taiyo Yuden effectively cuts its FY OP guidance despite headline raise.


Japan Morning Connection: AI Pullback but NAND Smashes It After-Hours

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Sunwoda Electronic Co Ltd A / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Market dynamics remain overwhelmingly risk-on; with plenty of global liquidity, we expect upside to continue into year-end and the early part of 2026.</li>
<li>Remain Overweight Taiwan, China, Korea, U.S., and Greece. Many buys in these countries, and also Europe and Japan. EURO STOXX 50 on the cusp of major breakout above 5500</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Market dynamics remain overwhelmingly risk-on; with plenty of global liquidity, we expect upside to continue into year-end and the early part of 2026.
Remain Overweight Taiwan, China, Korea, U.S., and Greece. Many buys in these countries, and also Europe and Japan. EURO STOXX 50 on the cusp of major breakout above 5500


Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact

<ul>
<li>Oversold tech/SPE/AI surging after Trump delayed reciprocal tariffs on all but China, with the SOX up the most of all time.</li>
<li>Expect similar moves with oversold tech beta likely to open &gt;+10%.</li>
<li>Banks and life insurance  should continue to fare well given the persistently high yields, and names with high export ratios to the US.</li>
</ul>


Oversold tech/SPE/AI surging after Trump delayed reciprocal tariffs on all but China, with the SOX up the most of all time.
Expect similar moves with oversold tech beta likely to open &gt;+10%.
Banks and life insurance  should continue to fare well given the persistently high yields, and names with high export ratios to the US.


Japan Morning Connection: Trump Pulls off One of the Greatest Ruses of All Time

<ul>
<li>US semi onshoring plays lifted by Vance comments on US production comments.</li>
<li>SMCI preliminary numbers after market pointing to big upside for 2026 and 30% uptake in new DC's.</li>
<li>Shiseido numbers missed but there were bright spots...enough to cover up the blemishes for a squeeze?</li>
</ul>


US semi onshoring plays lifted by Vance comments on US production comments.
SMCI preliminary numbers after market pointing to big upside for 2026 and 30% uptake in new DC's.
Shiseido numbers missed but there were bright spots...enough to cover up the blemishes for a squeeze?


Japan Morning Connection: Selective Squeezes May Continue with Japan Back from Holiday

Japan

Taiyo Yuden Co., Ltd. manufactures and markets electronic components such as, ceramic capacitors, inductors, hybrid integrated circuits (IC), and ferrite. The Company's products include power supplies, inverters, optical disks, filters, coils, and thermistors.

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Taiyo Yuden (6976 JP)

Japan Morning Connection: AMD Weakness Sparks Wide Spread Sell-Off Likely to Continue in US Tmrw

Bloodbath for tech and AI overnight led lower by AMD after earnings disappointed. Some rebounds in heavily sold software names after Jensen Huang...

Andrew Jackson

Japan Morning Connection: AI Pullback but NAND Smashes It After-Hours

Rohm earnings miss should send it trading lower, despite Coherent's surge +18.3%. Memory names were relative outperformers. Sandisk's strength...

Andrew Jackson

Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact

Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact. Actionable Themes: Communications, Manufacturing (Robotics and Batteries),...

Vermilion Research

Japan Morning Connection: Trump Pulls off One of the Greatest Ruses of All Time

Oversold Tech surging after delay on reciprocal tariffs, with SOX hitting record highs. Expect gains in oversold tech beta and strong performance...

Andrew Jackson

Japan Morning Connection: Selective Squeezes May Continue with Japan Back from Holiday

US semi onshoring boosted by positive comments on US production, SMCI points to big upside for 2026, Shiseido misses numbers but could bright...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: AMD Weakness Sparks Wide Spread Sell-Off Likely to Continue in US Tmrw

Bloodbath for tech and AI overnight led lower by AMD after earnings disappointed. Some rebounds in heavily sold software names after Jensen Huang...

Andrew Jackson

Japan Morning Connection: AI Pullback but NAND Smashes It After-Hours

Rohm earnings miss should send it trading lower, despite Coherent's surge +18.3%. Memory names were relative outperformers. Sandisk's strength...

Andrew Jackson

Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact

Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact. Actionable Themes: Communications, Manufacturing (Robotics and Batteries),...

Vermilion Research

Japan Morning Connection: Trump Pulls off One of the Greatest Ruses of All Time

Oversold ​Tech surging after delay on reciprocal tariffs, with SOX hitting record highs. Expect gains in oversold tech beta and strong performance...

Andrew Jackson

Japan Morning Connection: Selective Squeezes May Continue with Japan Back from Holiday

​US semi onshoring boosted by positive comments on US production, SMCI points to big upside for 2026, Shiseido misses numbers but could bright...

Andrew Jackson

Oversold Tech surging after delay on reciprocal tariffs, with SOX hitting record highs. Expect gains in oversold tech beta and strong performance...

US semi onshoring boosted by positive comments on US production, SMCI points to big upside for 2026, Shiseido misses numbers but could bright...