Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

<ul>
<li>We recommend selling MICRON with a holding-period return of +3.3% and opening positions in ADVANT80, MRVL80, HPE80 and NBIS80, all linked to Al-related businesses.</li>
<li>Our KTX Tactical DR Port was relatively flat (-0.16%), as strong gains in US stocks were offset by declines in BIREN23 and WUXI06.</li>
<li>Our KTX Baht Tracker indicates that the THB is becoming excessively strong.</li>
</ul>


We recommend selling MICRON with a holding-period return of +3.3% and opening positions in ADVANT80, MRVL80, HPE80 and NBIS80, all linked to Al-related businesses.
Our KTX Tactical DR Port was relatively flat (-0.16%), as strong gains in US stocks were offset by declines in BIREN23 and WUXI06.
Our KTX Baht Tracker indicates that the THB is becoming excessively strong.


<ul>
<li>We recommend selling MICRON80, with a 1.8% loss, after it has fallen below our ranking threshold.</li>
<li>Our KTX Tactical DR Portfolio's average return declined 0.47%, in line with global equity markets, amid persistent concerns over a potential Fed rate hike and the conflict in the Middle East.</li>
<li>According to our KTX Baht Tracker, the Thai baht has begun to rebound from previously oversold levels.</li>
</ul>


We recommend selling MICRON80, with a 1.8% loss, after it has fallen below our ranking threshold.
Our KTX Tactical DR Portfolio's average return declined 0.47%, in line with global equity markets, amid persistent concerns over a potential Fed rate hike and the conflict in the Middle East.
According to our KTX Baht Tracker, the Thai baht has begun to rebound from previously oversold levels.


KTX Tactical DR Picks - September 14, 2026 (Eng.)

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Micron is a primary beneficiary of the artificial intelligence super-cycle, with soaring demand for its high-bandwidth memory (HBM) and conventional DRAM driving record financial performance.</li>
  <li>The memory industry is in a historic upswing, characterized by tight supply and surging prices, which is expected to persist due to sustained investments in AI infrastructure by global technology giants.</li>
  <li>While the near-term outlook is exceptionally strong, investors must remain cognizant of the semiconductor memory market's inherent cyclicality, which has historically led to periods of oversupply and price corrections.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Micron is a primary beneficiary of the artificial intelligence super-cycle, with soaring demand for its high-bandwidth memory (HBM) and conventional DRAM driving record financial performance.
  The memory industry is in a historic upswing, characterized by tight supply and surging prices, which is expected to persist due to sustained investments in AI infrastructure by global technology giants.
  While the near-term outlook is exceptionally strong, investors must remain cognizant of the semiconductor memory market's inherent cyclicality, which has historically led to periods of oversupply and price corrections.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Micron Technology (MICRON03 TB) - Aug 2026

<ul>
<li>There have been no changes to the KTX Tactical DR portfolio today.</li>
<li>Our KTX Tactical DR Portfolio delivered an average return of +0.15 %.</li>
<li>The rebound in semiconductor and infrastructure names, led by MICRON80 and DELL19, was partly offset by weakness in software stocks such as DDOG19 and PANW80.</li>
</ul>


There have been no changes to the KTX Tactical DR portfolio today.
Our KTX Tactical DR Portfolio delivered an average return of +0.15 %.
The rebound in semiconductor and infrastructure names, led by MICRON80 and DELL19, was partly offset by weakness in software stocks such as DDOG19 and PANW80.


KTX Tactical DR Picks - July 23, 2026 (Eng.)

Founder, Market Thinker

Mark Tinker

Founder

Market Thinker

Mark Tinker has over 35 years experience as an investor, market strategist and economist. Having spent more than 20 years as a sell side strategist and being top rated on numerous occasions and surveys he moved to investment management in 2006 to run global equity portfolios in London and subsequently moved to Hong Kong in 2013 to help establish an Investment Management business for a top 20 international asset manager. He first started writing investment weeklies for his employers in 1989, developing a style characterised under the title Market Thinking and has been a regular commentator and presenter on CNBC, Bloomberg and other business channels, where his approach of rationalising market behaviour rather than making short term predictions on high frequency market data provides a welcome balance to his client audience.

Making Sense of the Narrative

Macroeconomics

<ul><li>The Software/ hardware trade in H1 was effectively a growth/value trade, but not in the traditional sense of active investor style bias.</li><li>Hundreds of billions of dollars tracking style or factor benchmarks like ‘Value’ were actually long Micron, Sandisk and Google and then flipped them out at end June, replacing them with what were previously called growth stocks like Microsoft and Apple.</li><li>Meanwhile, growth benchmarks that were long Microsoft and Apple, now have Micron and Google.</li></ul>

The Software/ hardware trade in H1 was effectively a growth/value trade, but not in the traditional sense of active investor style bias.Hundreds of billions of dollars tracking style or factor benchmarks like ‘Value’ were actually long Micron, Sandisk and Google and then flipped them out at end June, replacing them with what were previously called growth stocks like Microsoft and Apple.Meanwhile, growth benchmarks that were long Microsoft and Apple, now have Micron and Google.

Were style lags part of the July washout?

United States

Micron Technology, Inc. is an American multinational semiconductor company that designs, manufactures, and sells memory and storage products worldwide. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, and solid-state drives (SSDs) used in computing, mobile devices, data centers, and automotive applications. Micron Technology was founded in 1978 and is headquartered in Boise, Idaho, U.S..

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Micron Technology (MICRON03 TB)

KTX Tactical DR Picks

We recommend selling MICRON with a holding-period return of +3.3% and opening positions in ADVANT80, MRVL80, HPE80 and NBIS80, all linked to...

Krungthai XSpring

KTX Tactical DR Picks - September 14, 2026 (Eng.)

We recommend selling MICRON80, with a 1.8% loss, after it has fallen below our ranking threshold. Our KTX Tactical DR Portfolio's average return...

Krungthai XSpring

Primer: Micron Technology (MICRON03 TB) - Aug 2026

Micron is a primary beneficiary of the artificial intelligence super-cycle, with soaring demand for its high-bandwidth memory (HBM) and...

αSK Primers

KTX Tactical DR Picks - July 23, 2026 (Eng.)

There have been no changes to the KTX Tactical DR portfolio today. Our KTX Tactical DR Portfolio delivered an average return of +0.15 %. The...

Krungthai XSpring

Were style lags part of the July washout?

The Software/ hardware trade in H1 was effectively a growth/value trade, but not in the traditional sense of active investor style bias.

Mark Tinker

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)