Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Great numbers from Advantest, Teradyne, Seagate and SK Hynix set to send AI related surging.</li>
<li>Jensen Huang spreads NVDA's net wider while dispelling concerns of a bubble.</li>
<li>Qorvo-Skyworks merger could tighten the competitive market for the likes of Murata.</li>
</ul>


Great numbers from Advantest, Teradyne, Seagate and SK Hynix set to send AI related surging.
Jensen Huang spreads NVDA's net wider while dispelling concerns of a bubble.
Qorvo-Skyworks merger could tighten the competitive market for the likes of Murata.


Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

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

Global Materials | Industrials | Commodities

Rahul Jain

<ul>
<li>Asia mirrors the U.S. “boring tech” rally: storage, memory, and components once seen as cyclical are being re-rated as AI infrastructure enablers.</li>
<li>Valuation gaps present opportunities: Kioxia and SK Hynix trade at meaningful discounts vs Seagate/WDC/Micron, while Murata and TSMC command premiums; Chinese names appear expensive.</li>
<li>Key risks remain: cyclicality in DRAM/NAND, potential subsidy overbuild, and currency volatility could pressure valuations if AI demand slows.</li>
</ul>


Asia mirrors the U.S. “boring tech” rally: storage, memory, and components once seen as cyclical are being re-rated as AI infrastructure enablers.
Valuation gaps present opportunities: Kioxia and SK Hynix trade at meaningful discounts vs Seagate/WDC/Micron, while Murata and TSMC command premiums; Chinese names appear expensive.
Key risks remain: cyclicality in DRAM/NAND, potential subsidy overbuild, and currency volatility could pressure valuations if AI demand slows.


Asia’s “Boring Tech” Rerating: Memory, Components & AI Infrastructure

<ul>
<li>NAND supplier Sandisk taking its gains to 100% MTD as eSSD memory demand for AI applications grows exponentially.</li>
<li>Apple breakout as weekend sales for the iPhone17 Pro likely to come ahead of estimates.</li>
<li>Quantum computing names taking a big leg higher with the Trump Administration aiming to expand their quantum strategy.</li>
</ul>


NAND supplier Sandisk taking its gains to 100% MTD as eSSD memory demand for AI applications grows exponentially.
Apple breakout as weekend sales for the iPhone17 Pro likely to come ahead of estimates.
Quantum computing names taking a big leg higher with the Trump Administration aiming to expand their quantum strategy.


Japan Morning Connection: Ibiden Boosting IC Substrate Production to Meet Surging Demand

<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

Japan

MURATA MANUFACTURING COMPANY, LTD. manufactures and sells ceramic applied electronic components.  The Company's products include filters, capacitors, thermistors, resistors, noise suppression components, coils, piezoelectric sound components, power supplies, sensors, hybrid integrated circuit (IC), and microwave components.

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Murata Manufacturing (6981 JP)

Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

Teradyne's 3Q numbers set a strong tone for the testing market. Skyworks and Qorvo merging may be a negative for Murata which will have to compete...

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

Asia’s “Boring Tech” Rerating: Memory, Components & AI Infrastructure

Asia's tech rally focuses on storage, memory, and components as AI infrastructure enablers, with valuation gaps offering opportunities but risks...

Rahul Jain

Japan Morning Connection: Ibiden Boosting IC Substrate Production to Meet Surging Demand

Big gains for Intel suppliers on Friday after news that NVDA would invest in INTC. Quantum computing related higher as Trump administration looks...

Andrew Jackson

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

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Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

Teradyne's 3Q numbers set a strong tone for the testing market. Skyworks and Qorvo merging may be a negative for Murata which will have to compete...

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

Asia’s “Boring Tech” Rerating: Memory, Components & AI Infrastructure

​Asia's tech rally focuses on storage, memory, and components as AI infrastructure enablers, with valuation gaps offering opportunities but risks...

Rahul Jain

Japan Morning Connection: Ibiden Boosting IC Substrate Production to Meet Surging Demand

Big gains for Intel suppliers on Friday after news that NVDA would invest in INTC. Quantum computing related higher as Trump administration looks...

Andrew Jackson

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

Asia's tech rally focuses on storage, memory, and components as AI infrastructure enablers, with valuation gaps offering opportunities but risks...

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