Weekly Top Ten Tech Hardware and Semiconductor – Oct 11, 2026

1. Micron’s FY26 Revenue Soars 3.5x YoY. FY27 Looks Even Better, Right? Key Takeaways & Full Transcript

By William Keating, Ingenuity

• Micron last week reported Q4FY26 revenues of $54.23 billion versus $41.46 billion for the prior quarter (+31%) and $11.32 billion for the same period last year (+379%)
• Consolidated gross margin for fiscal Q4 was 87.0%, up 210 basis points sequentially. This improvement was driven primarily by higher pricing and strong execution, partially offset by mix.
• Looking ahead, the company expects F27Q1 revenue to be a (another) record $61.5 billion, plus or minus $1.5 billion with gross margin to be approximately 86.25%;

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2. Marvell Investor Day 2026. Key Takeaways & Full Transcript

By William Keating, Ingenuity

• Marvell set a long-term revenue target of $70B to $90B for FY31 ($80B at the midpoint), representing a 55%–60% CAGR and a 10x expansion over FY26 ($8.2B).
• Newly installed CFO Dan Dern introduced the “30 in 30” milestone, projecting non-GAAP EPS of greater than $30 per share in calendar 2030 (FY31).
• Marvell claims it can achieve these new financial targets  without needing any new home run design winds or any new sockets. Apparently, they have what they need today.

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3. Accenture Soars As New Bookings Accelerate. Q426 Earnings Review, Key Takeaways & Full Transcript

By William Keating, Ingenuity

• Accenture last week reported Q4 FY26 revenues of $18.7 billion, up 7% YoY in local currency and above the top end of the guided range of $18.4 billion.
• New Bookings were $22.2 billion for the quarter, a 4% increase in U.S. dollars and 5% in local currency, with an overall book-to-bill of 1.2.
• Accenture’s top 10 ecosystem partners represented >60% of their revenue in FY26. Among their eight emerging AI and data partners, bookings more than tripled and revenue more than doubled YoY.

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4. The Blade Weekly: Micron Customers Post US$32bn of Deposits, Broadcom Lends Anthropic up to US$42bn

By Vincent Fernando, CFA, Zero One

• Micron reported US$32bn of customer commitments, mostly cash deposits, with 75% of fiscal 2027 output committed and most 2027 HBM contracted above 2026 prices.
• Broadcom will lend Anthropic up to US$42bn as Anthropic’s IPO filing lists US$518bn of compute obligations against about US$4.6bn of 2025 revenue.
• Amazon bought a NT$1.59bn Gold Circuit stake, Samsung Electro-Mechanics is expanding substrates on reported NVIDIA prepayments, and phone makers cut memory demand 30% to 40%.

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5. Taiwan Dual-Listings Monitor: UMC, ASE and ChipMOS Above +1 SD Band; Short the ADR Spread

By Vincent Fernando, CFA, Zero One

• TSMC: +20.3% Premium; Rebounded from Our Long the ADR Level
• UMC: +3.4% Premium; Above +1 SD Band; Short the ADR Spread
• ASE: +5.8% Premium; Above +1 SD Band; Short the ADR Spread

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6. Synopsys Investor Day 2026. Elliott’s Fingerprints Are Everywhere.

By William Keating, Ingenuity

• Synopsys is expanding from its traditional “Factory 1” model (standardized IP: build once, sell many times) to a “Factory 2” model focused on Application-Optimized IP (AOIP).
• Synopsys raised its long-term revenue CAGR through 2030 to mid-teens (up from low/double-digits), targeting $9.7B in FY26 and driving toward ~$11.15B in FY27 (+15% YoY).
• Synopsys announced a $1 billion, multi-year, IP licensing agreement with Amazon as well as a multi-year agreement to collaborate with OpenAI as preferred partners to develop and deliver GPT-Synopsys

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7. TSMC 3Q26 Preview: 2027 Price Increases Should Hold Margins; Further Share Upside from Here

By Vincent Fernando, CFA, Zero One

• 3Q26 revenue is already reported at NT$1,494.2bn, about US$46.7bn, 2% above the top of the guide; the 15 October release turns on margins, the 4Q guide and 2027.
• We expect January 2027 price increases to roughly offset wider 2nm and overseas dilution, holding gross margin near 65-67%; 2027 capex is the bigger unknown.
• Target price NT$2,920 (15% upside): 26.9x 2026 EPS, reflecting what we see as a permanent re-rating since 2019; TSMC trades at 17.9x 2027 earnings versus 23.0x for big US tech.

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8. The Blade Weekly: AI Chip Financings Pass US$150bn as OpenAI’s Revenue Lands US$20bn Below Reports

By Vincent Fernando, CFA, Zero One

• Financing plans for Anthropic, SpaceX and OpenAI chip orders totaled more than US$150bn, as the FT put OpenAI’s revenue run rate at about US$50bn.
• Laminate and power chip prices rose, and Nanya told customers DRAM prices will rise up to 20% as Micron’s Taiwan union won a strike vote.
• Foxconn booked Taiwan’s first NT$1tn revenue month and TSMC beat its 3Q guidance, while Samsung reportedly plans to cut 4Q phone output by up to 30%.

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