Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Intel rising afterhours on the news the private sector is also coming to its rescue, likely prompted by the Govt.</li>
<li>Palo Alto beating after hours puts focus on Cybersecurity, while the trend for Trend Micro has lots of room to improve.</li>
<li>Homebuilder confidence down to post pandemic lows but homebuilders barely dipping as market looks through to Sep.</li>
</ul>


Intel rising afterhours on the news the private sector is also coming to its rescue, likely prompted by the Govt.
Palo Alto beating after hours puts focus on Cybersecurity, while the trend for Trend Micro has lots of room to improve.
Homebuilder confidence down to post pandemic lows but homebuilders barely dipping as market looks through to Sep.


Japan Morning Connection: Trump Changes Intel's Deal to a Stake for Chips Money

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

Foxconn Industrial Internet / Technical Analysis

<ul>
<li>We remain near-term bullish SPX and ACWI since 4/22/25, 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>We discussed in our July 31, 2025 Int'l Compass how $128, $125-$126, and $123-$123.50 were short-term supports to watch on ACWI-US, and ACWI-US found support at $128 the next day.</li>
<li>Europe (EURO STOXX 50) is the last of the major countries (from a global market cap perspective) to break out; we expect it to be next</li>
</ul>


We remain near-term bullish SPX and ACWI since 4/22/25, 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.
We discussed in our July 31, 2025 Int'l Compass how $128, $125-$126, and $123-$123.50 were short-term supports to watch on ACWI-US, and ACWI-US found support at $128 the next day.
Europe (EURO STOXX 50) is the last of the major countries (from a global market cap perspective) to break out; we expect it to be next


Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

<ul>
<li>Will be a soft day for pharma after Trump insists drug makers cut costs.</li>
<li>Applied Digital +31% with an additional 150MW order on the table from Correweave.</li>
<li>Expect a U-turn for SPE after yesterdays strength despite the positive longer term outlook.</li>
</ul>


Will be a soft day for pharma after Trump insists drug makers cut costs.
Applied Digital +31% with an additional 150MW order on the table from Correweave.
Expect a U-turn for SPE after yesterdays strength despite the positive longer term outlook.


Japan Morning Connection: TEL Numbers Miss Weighs on US Semi-Caps Despite MSFT and META Capex Plans

<ul>
<li>Teradyne +18.9% on a solid beat so watch testing peers Advantest, Micronics and Tera Probe for upside.</li>
<li>Marvell +7% on the potential for greater MSFT sales should also help ASIC peer Socionext.</li>
<li>ARM and Qualcomm both down after hours on numbers, dampening the mood for smartphone related (and Softbank).</li>
</ul>


Teradyne +18.9% on a solid beat so watch testing peers Advantest, Micronics and Tera Probe for upside.
Marvell +7% on the potential for greater MSFT sales should also help ASIC peer Socionext.
ARM and Qualcomm both down after hours on numbers, dampening the mood for smartphone related (and Softbank).


Japan Morning Connection: Big Boosts to AI Capex Plans for MSFT and META Will Lift Japan SPE

<ul>
<li>LDP was trounced on Sunday, but the yen is already starting to pare weakness which priced in ahead.</li>
<li>Power semi's may be under pressure with NXP miss after-market and Stellantis surprise loss yesterday.</li>
<li>Microsoft reeling from massive cyber attack positive for security software including Trend Micro.</li>
</ul>


LDP was trounced on Sunday, but the yen is already starting to pare weakness which priced in ahead.
Power semi's may be under pressure with NXP miss after-market and Stellantis surprise loss yesterday.
Microsoft reeling from massive cyber attack positive for security software including Trend Micro.


Japan Morning Connection: Ishiba's Expected Defeat Already Showing Limited Reaction from Markets

Japan

SoftBank Group Corp provides telecommunication services.  The Company also operates ADSL (Asymmetric Digital Subscriber Line) and fiber optic high-speed Internet connection, e-Commerce businesses, and Internet based advertising and auction businesses.

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Softbank Group (ADR) (SFTBY US)

Japan Morning Connection: Trump Changes Intel's Deal to a Stake for Chips Money

News just out that Softbank is signing a $2bn investment deal with Intel. Homebuilders barely dipping despite low confidence. Some analysts saying...

Andrew Jackson

Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

Europe Next to Break Out?; China and Japan Remain Attractive and a big focus since our July 3rd report titled "China and Japan Breaking Out;"...

Vermilion Research

Japan Morning Connection: TEL Numbers Miss Weighs on US Semi-Caps Despite MSFT and META Capex Plans

Pharma industry faces pressure to cut costs as Trump demands, Applied Digital jumped after numbers beat and announcement on increased AI computing...

Andrew Jackson

Japan Morning Connection: Big Boosts to AI Capex Plans for MSFT and META Will Lift Japan SPE

Teradyne reported that their testing segment was their standout performer which should be a positive for Advantest and related. Dempened mood for...

Andrew Jackson

Japan Morning Connection: Ishiba's Expected Defeat Already Showing Limited Reaction from Markets

Slight negative for power semis after NXP guidance missed. Cyber security names benefiting from aftermath of Microsoft's SharePoint being hacked.

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Trump Changes Intel's Deal to a Stake for Chips Money

News just out that Softbank is signing a $2bn investment deal with Intel. Homebuilders barely dipping despite low confidence. Some analysts saying...

Andrew Jackson

Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

Europe Next to Break Out?; China and Japan Remain Attractive and a big focus since our July 3rd report titled "China and Japan Breaking Out;"...

Vermilion Research

Japan Morning Connection: TEL Numbers Miss Weighs on US Semi-Caps Despite MSFT and META Capex Plans

​Pharma industry faces pressure to cut costs as Trump demands, Applied Digital jumped after numbers beat and announcement on increased AI computing...

Andrew Jackson

Japan Morning Connection: Big Boosts to AI Capex Plans for MSFT and META Will Lift Japan SPE

Teradyne reported that their testing segment was their standout performer which should be a positive for Advantest and related. Dempened mood for...

Andrew Jackson

Japan Morning Connection: Ishiba's Expected Defeat Already Showing Limited Reaction from Markets

Slight negative for power semis after NXP guidance missed. Cyber security names benefiting from aftermath of Microsoft's SharePoint being hacked.

Andrew Jackson

Pharma industry faces pressure to cut costs as Trump demands, Applied Digital jumped after numbers beat and announcement on increased AI computing...