Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Expect weakness after poor SMCI numbers sends AI related plays lower in late trading including NVDA and DELL.</li>
<li>Qorvo bucking the trend with a better-then-expected outlook despite Apple uncertainty in China.</li>
<li>Sony looking to spin off its semiconductor solutions business a watershed for unlocking shareholder value.</li>
</ul>


Expect weakness after poor SMCI numbers sends AI related plays lower in late trading including NVDA and DELL.
Qorvo bucking the trend with a better-then-expected outlook despite Apple uncertainty in China.
Sony looking to spin off its semiconductor solutions business a watershed for unlocking shareholder value.


Japan Morning Connection: SMCI Numbers Casts a Gloomy Shadow over All Things AI to Start Today

<ul>
<li>Tech and AI leading gains but the current rally feels like its running out of steam.</li>
<li>Languid outlook from Advantest will not enthuse Japan SPE names.</li>
<li>Shin Etsu blowing the doors off with a Y500bn buyback.</li>
</ul>


Tech and AI leading gains but the current rally feels like its running out of steam.
Languid outlook from Advantest will not enthuse Japan SPE names.
Shin Etsu blowing the doors off with a Y500bn buyback.


Japan Morning Connection: Rebound Continues with the SPX Clocking Its Best Run Since January

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>Time to start unpacking your shorts for the summer season</li>
<li>Headlines should not distract from the big picture and provide  trading opportunities </li>
</ul>


A review of recent events/data impacting our investment themes or outlook
Time to start unpacking your shorts for the summer season
Headlines should not distract from the big picture and provide  trading opportunities 


<ul>
<li>Intel jumping on plans to cut its bloated workforce and streamline management.</li>
<li>EV plays should pick up after Tesla held after mkt gains from yesterday.</li>
<li>Boeing numbers will help the heavies with better FCF and production outlooks.</li>
</ul>


Intel jumping on plans to cut its bloated workforce and streamline management.
EV plays should pick up after Tesla held after mkt gains from yesterday.
Boeing numbers will help the heavies with better FCF and production outlooks.


Japan Morning Connction: Tech Surging with Trump Signalling Zero China Tariffs on a Trade Deal

<ul>
<li>Disco guidance possibly showing front loading ahead of a potentially far bleaker 2Q.</li>
<li>US homebuilders strong after DR Horton reported strong GPM despite cutting guidance.</li>
<li>Trump re-raising the possibility of fees for Chinese vessels at US ports may be positive for non-Chinese ship builders.</li>
</ul>


Disco guidance possibly showing front loading ahead of a potentially far bleaker 2Q.
US homebuilders strong after DR Horton reported strong GPM despite cutting guidance.
Trump re-raising the possibility of fees for Chinese vessels at US ports may be positive for non-Chinese ship builders.


Japan Morning Connection: TSMC Fails to Hold Early Gains While Semi-Cap Plays Also Sag

Japan

ADVANTEST CORPORATION produces semiconductor testing devices and electronic measuring instruments.  The Company's products include large-scale integration (LSI) test systems, memory test systems, dynamic test handlers, network analyzers, electronic meters, optical testing devices, and signal sources.

Price Gauge
52-week Range	0.00 - 0.00
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Advantest Corp (6857 JP)

Japan Morning Connection: SMCI Numbers Casts a Gloomy Shadow over All Things AI to Start Today

Poor SMCI numbers will reflect poorly on AI related plays, Qorvo stands out with strong outlook despite Apple uncertainty, Sony's spin off of...

Andrew Jackson

Japan Morning Connection: Rebound Continues with the SPX Clocking Its Best Run Since January

Tech and AI stocks still leading gains but may be losing momentum. Advantest's lackluster forecast will dampen enthusiasm for Japan SPE names....

Andrew Jackson

Overview#24 – Exiting No Man’s Land

A review of recent events/data impacting our investment themes and outlook. What are bond and currency markets telling us about the equity markets?

Rikki Malik

Japan Morning Connction: Tech Surging with Trump Signalling Zero China Tariffs on a Trade Deal

Intel plans to cut workforce and streamline management, EV plays may continue to rise after Tesla's gains, Boeing's improved numbers to benefit...

Andrew Jackson

Japan Morning Connection: TSMC Fails to Hold Early Gains While Semi-Cap Plays Also Sag

Disco may suffer from tough 2Q with AI spending nearing its peak, US homebuilders up after strong beat from DR Horton, Trump's fees on Chinese...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: SMCI Numbers Casts a Gloomy Shadow over All Things AI to Start Today

​Poor SMCI numbers will reflect poorly on AI related plays, Qorvo stands out with strong outlook despite Apple uncertainty, Sony's spin off of...

Andrew Jackson

Japan Morning Connection: Rebound Continues with the SPX Clocking Its Best Run Since January

​Tech and AI stocks still leading gains but may be losing momentum. Advantest's lackluster forecast will dampen enthusiasm for Japan SPE names....

Andrew Jackson

Overview#24 – Exiting No Man’s Land

A review of recent events/data impacting our investment themes and outlook. What are bond and currency markets telling us about the equity markets?

Rikki Malik

Japan Morning Connction: Tech Surging with Trump Signalling Zero China Tariffs on a Trade Deal

​Intel plans to cut workforce and streamline management, EV plays may continue to rise after Tesla's gains, Boeing's improved numbers to benefit...

Andrew Jackson

Japan Morning Connection: TSMC Fails to Hold Early Gains While Semi-Cap Plays Also Sag

​Disco may suffer from tough 2Q with AI spending nearing its peak, US homebuilders up after strong beat from DR Horton, Trump's fees on Chinese...

Andrew Jackson

Poor SMCI numbers will reflect poorly on AI related plays, Qorvo stands out with strong outlook despite Apple uncertainty, Sony's spin off of...

Tech and AI stocks still leading gains but may be losing momentum. Advantest's lackluster forecast will dampen enthusiasm for Japan SPE names....

Intel plans to cut workforce and streamline management, EV plays may continue to rise after Tesla's gains, Boeing's improved numbers to benefit...

Disco may suffer from tough 2Q with AI spending nearing its peak, US homebuilders up after strong beat from DR Horton, Trump's fees on Chinese...