Daily Brief Thematic (Sector/Industry): SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #14 | 27 Sep to 3 Oct 2026. and more

In today’s briefing:

SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #14 | 27 Sep to 3 Oct 2026.
Ohayo Japan | Weak Jobs Report Lifts Stocks
This Week in AI (Sep 27-Oct 3): OpenAI Drops Astra for Sol; Sonnet 5.5 Nears Opus at 1/2 the Price

SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #14 | 27 Sep to 3 Oct 2026.

Micron squarely beats: FQ4 net income was US$38.3bn (+33% QoQ, 10x YoY); FQ1 guidance of $61.5bn. Yet the stock finished flat. The debate has shifted from demand to supply.
Korea had its first down week after three gains: the market read Solidigm’s IPO as value leakage. Taiwan specialty rose 4–5%; Kioxia rose 3.8% after its 3-for-1 split.
Stay long Micron (TP $1,375) and add at ≤$975 on capex-led weakness. SK Hynix’s exit catalyst moves to Q3 results on 27 Oct. Samsung’s prelim (~7 Oct) is next.

US stocks rose on Friday led by a tech rally after September payrolls showed the economy added just 29,000 jobs, far below the 90,000 expected
The weaker data prompted bond traders to pare odds of an October Fed rate hike down to 16% from 64% a week prior.
The Nasdaq (+1.2%) touched an intraday record high and secured a positive week, while the S&P 500 (+0.7%) posted weekly losses.

OpenAI, Anthropic and Google released frontier models, while OpenAI cancelled GPT-6.1 Astra after safety tests and the FTC opened a probe into AI-agent safety.
Anthropic’s IPO prospectus showed Q2 revenue of USD 11.5bn, OpenAI sought at least USD 30bn at a USD 1.4tn valuation, and Meta launched an enterprise AI platform.
Amazon explored moving USD 8bn of Nvidia chips into a leaseback vehicle, AMD agreed to buy World Labs for USD 8.2bn, and Firmus priced its ASX IPO.

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