In today’s briefing:
- Intel @ BofA Securities 2025 Global Technology Conference
- AVIC (9554 JP) – System in Place for Rapid In-House Launch of Live Commerce Business
- Lucror Analytics – Morning Views Asia
Intel @ BofA Securities 2025 Global Technology Conference
- Intel Products CEO Michelle Johnston Holthaus reveals that the company is now also including Samsung as a second foundry option
- The practice of Intel offering OEM incentives appears to be coming to the end of its unnatural life as LBT sets the tone. Great news for AMD I would think.
- Further investment in A14 capacity will now be contingent on having customers committing to taking up that capacity. No more build it and they will come a la Mr. Gelsinger.
AVIC (9554 JP) – System in Place for Rapid In-House Launch of Live Commerce Business
- Over the past six months, AViC’s share price has undergone a major re-rate.
- Its closing price on May 16, 2025, the day after Q2 FY2025/9 results announcement, stood at JPY 1,825, up 67.6% from the closing price of JPY 1,089 on November 14, 2024, when it announced FY2024/9 results.
- Based on the projected EPS of JPY 73.59 for FY2025/9, the Company’s share looks to be trading at a premium with a forward P/E ratio of 24.8x.
Lucror Analytics – Morning Views Asia
- US treasury yields were up 1-2 bps across the curve, on the back of a stronger than expected JOLTS report.
- The yield on the 2Y UST rose 2 bps to 3.95%, while that on the 10Y UST was up 1 bp at 4.46%.
- Equities advanced, supported by the strong jobs report despite continued uncertainty on trade.
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