Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Advantest, Micronics and Teraprobe set for a better start after Teradyne posted a blowout 2Q beat and strong 3Q guidance.</li>
<li>Lasertec and TEL may lag as KLA's inline guidance and dipped FCF point to a split between testers and WFE makers to start today.</li>
<li>SK Hynix numbers missed incredibly high expectations this morning making it likely to be a wobbly session again for Kioxia</li>
</ul>


Advantest, Micronics and Teraprobe set for a better start after Teradyne posted a blowout 2Q beat and strong 3Q guidance.
Lasertec and TEL may lag as KLA's inline guidance and dipped FCF point to a split between testers and WFE makers to start today.
SK Hynix numbers missed incredibly high expectations this morning making it likely to be a wobbly session again for Kioxia


Japan Morning Connection: Testers Could Rally Against the Grain After Teradyne's Blowout Numbers

<ul>
<li>Lasertec, TEL, Screen and TOK to benefit from Intel's strong earnings.</li>
<li>Disco's guidance miss may present a chance to buy the dip.</li>
<li>Power-Semi’s may be under the pump after STMicro tanked -17.7% in EU and -18.7% in US trading from earnings disappointment. </li>
</ul>


Lasertec, TEL, Screen and TOK to benefit from Intel's strong earnings.
Disco's guidance miss may present a chance to buy the dip.
Power-Semi’s may be under the pump after STMicro tanked -17.7% in EU and -18.7% in US trading from earnings disappointment. 


Japan Morning Connection: Intel's Big Beat and Capex Guidance Raise Set to Lift JP Suppliers and SPE

<ul>
<li>Alphabet revealed plans to spend aggressively on AI computing capacity, a positive for semi-caps and Japan’s SPE firms.</li>
<li>A mild negative for Harmonic Drive after Musk flagged that scaling Optimus production will be tough to scale.</li>
<li>News that SK Hynix is being considered as a partner to run Intel's Ohio campus is a positive for SPE names in Intel's supply chain and memory-related names.</li>
</ul>


Alphabet revealed plans to spend aggressively on AI computing capacity, a positive for semi-caps and Japan’s SPE firms.
A mild negative for Harmonic Drive after Musk flagged that scaling Optimus production will be tough to scale.
News that SK Hynix is being considered as a partner to run Intel's Ohio campus is a positive for SPE names in Intel's supply chain and memory-related names.


Japan Morning Connection: Intel Supply Chain in Focus as SK Hynix Eyed for Ohio Campus Role

<ul>
<li>QD Laser and other optical names may see a small lift after Barclays upgraded Lumentum to overweight on the optical hardware outlook.</li>
<li>TEL, Lasertec and Screen worth watching this week ahead of Intel earnings, with capex spending expected to come in above estimates.</li>
<li>Kioxia may catch a bid ahead of CXMT's listing on July 27, with the institutional tranche reportedly 570x oversubscribed.</li>
</ul>


QD Laser and other optical names may see a small lift after Barclays upgraded Lumentum to overweight on the optical hardware outlook.
TEL, Lasertec and Screen worth watching this week ahead of Intel earnings, with capex spending expected to come in above estimates.
Kioxia may catch a bid ahead of CXMT's listing on July 27, with the institutional tranche reportedly 570x oversubscribed.


Japan Morning Connection: AI Setup Remains Tepid but Kioxia May Catch a Bid with CXMT Oversubscribed

<ul>
<li>ASML's numbers failed to lift US semi-caps overnight, with Kospi futures pointing -4.4% lower. A dour tone for SPE.</li>
<li>TSMC will report today, so expect to see semi-cap fluctuations based on their capex commentary.</li>
<li>Mitsubishi Heavy may see interest after news that it is shipping cooling systems to NVDA's DSX.</li>
</ul>


ASML's numbers failed to lift US semi-caps overnight, with Kospi futures pointing -4.4% lower. A dour tone for SPE.
TSMC will report today, so expect to see semi-cap fluctuations based on their capex commentary.
Mitsubishi Heavy may see interest after news that it is shipping cooling systems to NVDA's DSX.


Japan Morning Connection: SPE Set to Give Back Yesterday's Gains with Memory Selloff Overnight

Japan

Lasertec Corporation develops, designs, manufactures and markets photomask inspection systems to make semiconductor devices, confocal scanning laser microscopes and liquid crystal display (LCD) inspection systems.

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Lasertec Corp (6920 JP)

Japan Morning Connection: Testers Could Rally Against the Grain After Teradyne's Blowout Numbers

Teradyne's beat sets a positive tone for tester names while KLA's guidance causes concern for WFE makers. SK Hynix's disappointing numbers may...

Andrew Jackson

Japan Morning Connection: Intel's Big Beat and Capex Guidance Raise Set to Lift JP Suppliers and SPE

Intel's strong earnings will benefit Lasertec, TEL, Screen, and TOK. Disco's guidance miss could be a buying opportunity. Power-Semi's may face...

Andrew Jackson

Japan Morning Connection: Intel Supply Chain in Focus as SK Hynix Eyed for Ohio Campus Role

News that SK Hynix is being considered as a partner to run Intel's Ohio campus is a positive for SPE names in Intel's supply chain and memory...

Andrew Jackson

Japan Morning Connection: AI Setup Remains Tepid but Kioxia May Catch a Bid with CXMT Oversubscribed

Kioxia may catch a bid on CXMT's oversubscribed IPO. TEL, Lasertec and Screen worth watching this week ahead of Intel earnings. Optical names may...

Andrew Jackson

Japan Morning Connection: SPE Set to Give Back Yesterday's Gains with Memory Selloff Overnight

SPE names may give back yesterday's gains as ASML's numbers fail to lift US peers. TSMC will report today, so expect to see semi-cap fluctuations...

Andrew Jackson

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52-week Range

Market Cap (USDm)

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Japan Morning Connection: Testers Could Rally Against the Grain After Teradyne's Blowout Numbers

​Teradyne's beat sets a positive tone for tester names while KLA's guidance causes concern for WFE makers. SK Hynix's disappointing numbers may...

Andrew Jackson

Japan Morning Connection: Intel's Big Beat and Capex Guidance Raise Set to Lift JP Suppliers and SPE

​Intel's strong earnings will benefit Lasertec, TEL, Screen, and TOK. Disco's guidance miss could be a buying opportunity. Power-Semi's may face...

Andrew Jackson

Japan Morning Connection: Intel Supply Chain in Focus as SK Hynix Eyed for Ohio Campus Role

News that SK Hynix is being considered as a partner to run Intel's Ohio campus is a positive for SPE names in Intel's supply chain and memory...

Andrew Jackson

Japan Morning Connection: AI Setup Remains Tepid but Kioxia May Catch a Bid with CXMT Oversubscribed

Kioxia may catch a bid on CXMT's oversubscribed IPO. TEL, Lasertec and Screen worth watching this week ahead of Intel earnings. Optical names may...

Andrew Jackson

Japan Morning Connection: SPE Set to Give Back Yesterday's Gains with Memory Selloff Overnight

SPE names may give back yesterday's gains as ASML's numbers fail to lift US peers. TSMC will report today, so expect to see semi-cap fluctuations...

Andrew Jackson

Teradyne's beat sets a positive tone for tester names while KLA's guidance causes concern for WFE makers. SK Hynix's disappointing numbers may...

Intel's strong earnings will benefit Lasertec, TEL, Screen, and TOK. Disco's guidance miss could be a buying opportunity. Power-Semi's may face...