Daily Brief TMT/Internet: Kyocera Corp, NVIDIA Corp, LG CNS, Microstrategy Inc Cl A, Lasertec Corp, DiDi Global, Taiwan Semiconductor (TSMC), Celestica and more

• Today, in conjunction with the release of Q3 earnings, Kyocera Corp (6971 JP) announced a change in its Corporate Governance Code doc, a change in Cross-holding Policy, and Buyback Policy.
• Full-Year earnings guidance revision was non-salutary. Revs -1%, OP -69%, Net Profit -72% vs previous predictions from 30 October (those were -1.5%, -38.2%, -36.6% vs April guidance at the time). 
• Based on this disappointment, they announced they would speed up the sale of crossholdings and buy back shares this year and over the following three years.

• Market value of stocks close to 2 trillion, including Nvidia at 600 billion
• Author missed opportunity to short Nvidia despite strong case outlined in article
• Concerns about competition, margins, and custom chips impacting Nvidia’s growth potential

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• LG CNS (LGCNSZ KS) priced its IPO at KRW61,900 per share to raise gross proceeds of US$820 million. The shares will start trading on 5 February.
• We previously discussed the IPO in LG CNS IPO: The Bull Case, LG CNS IPO: The Bear Case and LG CNS IPO: Valuation Insights.
• Since the prospectus’s release, the peers have marginally re-rated. The valuation remains undemanding at the IPO price, and bullish grey market prices suggest a strong debut.

• Stifel is a leading middle market investment bank with a large equity research franchise
• Stifel has won the J.D. Power Award for Employee Advisor satisfaction two years in a row
• The Odd Lots podcast discusses topics like MicroStrategy’s perpetual motion machine and leveraged bitcoin investments

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• LG CNS (LGCNSZ KS) raised around US$825m in its Korea IPO. LG CNS is a South Korean information technology company.
• LG CNS is a South Korean information technology company. The firm primarily provides comprehensive digital transformation services and solutions backed AI, big data, and cloud.
• In this note, we will talk about the demand for the deal and other trading dynamics.

• After 2 very poor quarters (revenue decline YoY), 2Q25 revenue increase 93% YoY, net income 137%. The painfully high volatility will not go away. 
• But Lasertec maintains its FY25 guidance which means that the blowout 2Q25 does not indicate higher growth
• The expectation bubble should have completely deflated (SiC for EV, Intel, Samsung). The stock is trading at 18x, at the bottom of its trading range and valuations. Attractive.

• Didi Global Inc. is a prominent mobility technology platform offering ride hailing, taxi hailing, and ride sharing services
• The company dominates the market in China and Latin America, especially in Brazil and Mexico
• Didi also has other initiatives including E-bike sharing, energy and vehicle services, intra-city freight, autonomous driving, and financial services.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• India aims to create its own foundational model by 2025, showing its commitment to technological development and innovation.
• DeepSeek’s founder’s journey from stock prodigy to AI disruptor highlights the potential for growth and success in the tech industry.
• Cadence’s focus on expanding in India’s data center industry shows the increasing importance of this sector in the global economy.

• Celestica’s fourth-quarter 2024 financial performance illustrates a complex landscape with both impressive achievements and areas of strategic caution.
• The company reported strong revenue growth, reaching $2.55 billion, aligning with the high end of its guidance.
• Adjusted earnings per share (EPS) surpassed expectations, recording $1.11, reflecting the company’s robust operational capabilities.

• India plans to create its own foundational model by 2025, aiming for independence in technology development.
• DeepSeek’s founder, a former stock prodigy, is now making waves in the field of AI disruption.
• Cadence is focusing on expanding in India’s growing data center market, expecting continued growth in the future.