In today’s briefing:
- How Chip Tariffs Shake up Samsung’s HBM Pricing Play Based on Fresh Local Intel
- Toyota (7203 JP) Vs. Subaru (7270 JP): Rare Mean-Reversion Setup After Earnings
- Korea Small Cap Gem #42: T&L Co
- Keepers Holdings Solid Q2 2025: Multiple Catalysts Lined Up
- KT&G: Solid Results in 2Q 2025 + Treasury Shares Cancellation of 300 Billion Won
- Voltas Ltd: Forensic Analysis
- Could Amphenol’s $10.5 Billion Commscope Deal Catalyze Growth—Or Backfire?
- Cognizant Lands Mega-Deals & Doubles Down on AI—Can It Outrun the Competition?
- Check Point Software: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!
- Capgemini’s Bold Growth Formula: Can Strategic Acquisitions & APAC Momentum Outpace the Competition?
How Chip Tariffs Shake up Samsung’s HBM Pricing Play Based on Fresh Local Intel
- Samsung’s 12-high HBM3E qual at NVIDIA may slip to Oct–Nov. But tariff timing uncertainty still leaves room for a near-term demand spike.
- Samsung’s 1c-based HBM4 is yielding better than expected, but it’s 30% pricier than Hynix’s. Tariff treatment of the Taylor fab could make or break its HBM4 competitiveness.
- Too early to call HBM4, but Samsung’s HBM3E pricing plus tariff uncertainty could spark urgent NVIDIA buying — triggering a near-term volume spike before next-gen ramps.
Toyota (7203 JP) Vs. Subaru (7270 JP): Rare Mean-Reversion Setup After Earnings
- Context: The Toyota (7203 JP) vs. Subaru (7270 JP) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.
- Highlight: Both companies in this highly correlated pair reported results on 7 August 2025, opening up a rare opportunity.
- Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.
Korea Small Cap Gem #42: T&L Co
- T&L’s key investment highlights include its exceptional sales growth led by its core wound dressing/cosmetic product Mighty Patch.
- It had a CAGR sales growth of 44% from 2020 to 2024. Its operating profit increased at even faster rate (CAGR of 56% from 2020 to 2024.
- Considering T&L’s 40%+ per year sales growth and 50%+ per year operating profit growth from 2020 to 2024 combined with 30%+ ROE, the company is deeply undervalued.
Keepers Holdings Solid Q2 2025: Multiple Catalysts Lined Up
- The Keepers Holdings (KEEPR PM) declared strong Q2FY25 results with revenues/profits up 14%/13% YoY. Net margins declined by 20 bps YoY to 18.7% due to the discounting/fx.
- Currently in the final stages of acquiring Booze Online Inc., the company intends to finalize the transaction by the end of Q3, contingent upon the resolution of regulatory approvals.
- The company trades at 9.7x FY25e, net cash, and an ROCE exceeding 20%. Supported by multiple growth levers, this presents an attractive opportunity within the Philippine domestic consumer discretionary sector.
KT&G: Solid Results in 2Q 2025 + Treasury Shares Cancellation of 300 Billion Won
- KT&G reported solid results in 2Q 2025. It had sales of 1.5 trillion won (up 8.7% YoY) and operating profit of 349.9 billion won (up 8.7% YoY).
- KT&G plans to repurchase and cancel 300 billion won worth of treasury stock starting 8 August.
- KT&G continues to have attractive valuation multiples. It is currently trading at P/E of 12.3x, P/B of 1.6x, and EV/EBITDA of 9.4x.
Voltas Ltd: Forensic Analysis
- Voltas Ltd (VOLT IN) is a renowned name among the households in India.
- The company is a prominent player in the field of air conditioning and cooling technology and offers a variety of services across different industrial sectors, both in India and internationally.
- But there are few issues with respect to revenue recognition policy, capital allocation issues and falling market share.
Could Amphenol’s $10.5 Billion Commscope Deal Catalyze Growth—Or Backfire?
- Amphenol’s aggressive pursuit of CommScope’s broadband connectivity and cable unit has reignited speculation about its next transformative move.
- As of early August 2025, multiple sources report that Amphenol is on the verge of finalizing a roughly $10.5 billion acquisition of CCS, CommScope’s largest division by sales and operating income.
- The deal aligns with Amphenol’s strategic thrust into high-growth markets—especially AI-powered data centers, where fiber-optic demand has surged—and mirrors last year’s $2 billion purchase of Carlisle Interconnect Technologies.
Cognizant Lands Mega-Deals & Doubles Down on AI—Can It Outrun the Competition?
- Cognizant Technology Solutions’ second-quarter performance for 2025 highlighted a continuation of its revenue growth and expanding profit margins.
- The company reported a 7.2% year-over-year increase in revenue, reaching $5.2 billion, marking the fourth consecutive quarter of organic growth.
- This was predominantly driven by strong performance in the Financial Services and Health Sciences segments.
Check Point Software: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!
- Check Point Software Technologies recently reported a solid quarter, with revenue and earnings per share (EPS) in line with expectations.
- The company’s revenues exceeded projections slightly, reaching $665 million, with a non-GAAP EPS of $2.37, representing a 9% growth year-over-year.
- This growth was driven primarily by strong customer demand for new appliances and a higher volume of product refreshes, particularly the Quantum Force AI-powered firewalls which posted a robust year-over-year growth of 12%.
Capgemini’s Bold Growth Formula: Can Strategic Acquisitions & APAC Momentum Outpace the Competition?
- Capgemini has presented a mixed set of results for the first half of 2025.
- The company has demonstrated resilience in a volatile economic environment, reporting revenue growth slightly above expectations, with H1 revenue reaching EUR 1.107 billion, a 0.2% increase year-on-year.
- Bookings amounted to EUR 11.993 billion, representing a 2.1% year-on-year growth.
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