In today’s briefing:
- Ohayo Japan | Stocks Slump at Month End
- Siltronic Slashes 2024 Sales Forecast As Inventory Woes Worsen
Ohayo Japan | Stocks Slump at Month End
- April proved challenging for markets, with the Dow recording its worst monthly performance since September 2022, down 5%.
- After hours, Advanced Micro Devices fell over 7% despite slightly beating revenue estimates at $5.47 billion, with gaming segment revenue down 48%
- Super Micro Computer dropped almost 8% despite beating earnings estimates
Siltronic Slashes 2024 Sales Forecast As Inventory Woes Worsen
- Siltronic cut its 2024 sales revenue forecast by 10% just days ahead of their Q124 earnings release
- Inventory levels, while gradually improving, are still at all time record highs
- In the case of Siltronic, it seems likely that Automotive end-market weakness is the main culprit
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