In today’s briefing:
- Taiwan Dual-Listings Monitor: TSMC Continues Falling from Extreme Level; CHT at Unusual Discount
- Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions
- Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event
- Updated Tool (31Mar24) & “Diff File Generator” For TSE “Mgmt Conscious of Capital Cost/Stock Price”
- Tencent/Netease: Both Zeroed in March Game Approval
- Post Nvidia GTC Industry Impact: Large Quanta Server Win Just the Beginning of an Order Wave?
Taiwan Dual-Listings Monitor: TSMC Continues Falling from Extreme Level; CHT at Unusual Discount
- TSMC: +11.8% Premium — Falling Closer to Its Historical Range
- ASE: +9.2% Premium; Further Breakdown Could Indicate Return to Previous Trading Range
- CHT: -1.8% Discount — Good Level to Long the Spread
Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions
- Mediatek is advancing full speed with recent industry collaborations for automotive chips, data center connectivity solutions, and AI memory solutions.
- In particular, the company has entered the market for Co-Packaged Optics (CPO), with partnerships announced with Foxconn and Ranovus.
- While the stock has rallied and re-rated, consensus forward estimates do not appear overly demanding and could still have room to increase further.
Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event
- Quanta surged with major server wins from Meta, Alphabet, and Amazon. Nanya Tech results are two weeks ahead and Intel will host a webinar this week about its Foundry business.
- Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions
- Hon Hai (Foxconn): After the 50% Surge, Where Can It Go From Here?
Updated Tool (31Mar24) & “Diff File Generator” For TSE “Mgmt Conscious of Capital Cost/Stock Price”
- In mid-January, the TSE announced a “name-and-shame” list where they listed all the companies which had put forth a disclosure about 【資本コストや株価を意識した経営の実現に向けた対応】. But they did not actually shame.
- The list shows which companies have disclosed a policy/consideration. But no data/links. We have the links, and we are weeks ahead of the TSE. Working to get months ahead.
- We created a tool to name everyone, show their reports, provide links, and now a new tool. Put in a name, see the difference between the Old/New Reports.
Tencent/Netease: Both Zeroed in March Game Approval
- China announced game approval for the Feb batch. The number of games approved remained at a higher level than 2023.
- The pace of China game approval appears to have accelerated to the same level as pre-tightening.
- However, neither Tencent and Netease got any approval in March.
Post Nvidia GTC Industry Impact: Large Quanta Server Win Just the Beginning of an Order Wave?
- Just a week after Nvidia’s GTC conference, Quanta has reportedly secured large orders for new Nvidia Blackwell-based servers from Google, Amazon AWS, and Meta.
- Other firms showcasing Nvidia servers at GTC include Wiwynn, Gigabyte, Pegatron, Asus, Hon Hai (Ingrasys), Wistron, Dell, and Super Micro. There could be a higher probability of new order wins.
- Stock Focus: Asustek — Improving outlook as a play on both AI PCs and AI servers.
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