In today’s briefing:
- Taiwan Top 50 ETF Rebalance: Elite Materials Added (But Bigger Sell Flows Elsewhere)
- Intel (INTC.US): Exploring a Tough Journey. (V)
- Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!
- Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!
- Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable
Taiwan Top 50 ETF Rebalance: Elite Materials Added (But Bigger Sell Flows Elsewhere)
- Elite Material (2383 TT) will be added to the Yuanta/P-Shares Taiwan Top 50 ETF in June and will replace Unimicron Technology (3037 TT).
- ETF AUM has now crossed US$20bn and passive trackers will need to buy 1x ADV in Elite Material (2383 TT) and sell 1.2x ADV in Unimicron Technology (3037 TT).
- Importantly, Elite Material (2383 TT)‘s stock price rally results in a lower dividend yield and the stock will be deleted from another ETF where the passive selling is much larger.
Intel (INTC.US): Exploring a Tough Journey. (V)
- Intel Corp (INTC US) CEO Lip-Bu Tan was setting two guideline that “build the best products” and “satisfy customers.”
- Going forward, no new product development project will be approved—nor will engineering resources be allocated—unless it can demonstrate a projected gross margin of at least 50%.
- In the coming months, an internal tug-of-war is expected to unfold within the company—between engineers and senior executives
Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!
- Snowflake has taken a bold strategic leap in its battle for AI supremacy by acquiring Crunchy Data, a leading PostgreSQL-based database company, for approximately $250 million.
- Coming shortly after Databricks’ $1 billion acquisition of Neon, this move signals an intensifying war for enterprise customers who want to build AI agents using their own data.
- Crunchy Data’s roughly 100 employees are set to join Snowflake as the company integrates Crunchy into a new product offering called Snowflake Postgres.
Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!
- Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has turned heads on Wall Street.
- After seeing its stock plunge nearly 50% earlier this year due to fears around tariffs and intensified white-box competition, Arista has bounced back with vengeance.
- Now trading near $95, the stock has rallied on the back of a robust Q1 2025 print, confident full-year guidance, and its growing role in powering AI infrastructure for tech giants like Microsoft, Meta, and Oracle.
Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable
- Didi reported solid top-line growth, improving core margins (and OpCF) in Q125
- Drivers of Q125 top-line growth were broad-based, but note F/X impact on International
- We believe Didi should move to re-list shares while earnings & conditions are supportive
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