[ACM Research (ACMR US, BUY, TP US$30) Earnings Review]: Korea and US Are the Next Battlefields
ACMR's Q3 reported profit widely beat estimates. They received a second order from a US semiconductor maker, indicating market share gain. A BUY...
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Weekly Earnings (ASML, LRCX, TSMC, Nanya)
TSMC results came in much better than feared. Revenue was slightly weaker than expected and below consensus. This quarter's big story was margins...
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October Restrictions Implications
The new clarification of the October export restrictions came out today, and as far as I can tell, it is a slight liberalization of the previous...
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[Blue Lotus Hardware Sector Update]: SMIC 7nm and 5nm Sufficient for Huawei Rejuvenation
We expect Huawei’s wafer demand to reach 18k~ 7nm per month, which would have revenue gain of US$ 550mn~ per quarter to SMIC. We raise SMIC TP to...
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China TMT Update-Nayuki/Luckin/981.HK/1347.HK/ACMR/LI-Food Safety Issue/Increase the Tax-Deductible
Nayuki/Luckin: Food safety issue happened on one store of Mixue; 981.HK/1347.HK/ACMR: Tax authorities increase the tax-deductible amount/LI: LI's...
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