Alētheia Capital

Technology Hardware | Elite Material - Skye Chen For the 4Q24 outlook the company stated that its sales will experience weak seasonality with a high single-digit decline, that is weaker than our forecast of -6% QoQ. In more detail, company says its sales from mobile devices, automotive, and AI sectors are expected to see sequential declines, while sales from switches are anticipated to see slight growth. Read full story here: https://buff.ly/4fprOb7 For more information on our #BestGlobalTechHardwareTeam product, and other Aletheia Capital research, please contact info@aletheia-capital.com #investments #advisory #ideas #fintech #InYourCorner

Technology Hardware | AMD - Warren Lau AMD delivered slightly better-than-expected 3Q results but lighter-than-expected 4Q guidance compared to our estimates (in line with consensus). In addition, there were some doubts about its MI300 GPU outlook in 4Q24 and 2025.L astly, AMD may experience a steeper than typical seasonality in 1Q25 because of its higher base in 4Q24. All these overshadowed what is otherwise a structural positive trend – ongoing share gain in the x86 DC and client processors, as well as its long term AI GPU opportunity. Read full story here: https://buff.ly/3C8dBB9 For more information on our #BestGlobalTechHardwareTeam product, and other Aletheia Capital research, please contact info@aletheia-capital.com #investments #advisory #ideas #fintech #InYourCorner

Technology Hardware | Lasertec - Warren Lau Lasertec reported its 1Q25 results recently. In a surprise move, the company said it would no longer disclose quarterly new orders and backlogs citing these figures create short term share price volatility and divert investors’ attention away from the company's long term strategy. While we believe there is some truth in this, we hope the company will still provide these metrics in the semi-annual reports, as they serve as key indicators for the company's future earnings outlook. Read full story here: https://buff.ly/3O8fBMF For more information on our #BestGlobalTechHardwareTeam product, and other Aletheia Capital research, please contact info@aletheia-capital.com #investments #advisory #ideas #fintech #InYourCorner

Asianomics | Portfolio Investment in China and India - Jim Walker Figure 1 shows how, over the last 20 years, net portfolio flows have panned out in both China and India. View full story here: https://buff.ly/48rZBhI For more information on our #asianomics #macroeconomic and strategy products, or other Aletheia Capital research, please contact info@aletheia-capital.com #investments #ideas #advisory #fintech #InYourCorner

Technology Hardware | Nitto Denko - George Chang Nitto Denko indicated that full-year iPhone production volume plan remains unchanged vs. Its original forecast, but production was pulled forward to 1HFY so iPhone related demand including industrial tape's electronic application, FPCB for sensor shift OIS, and some part of OCA/protection film will see weaker 2HFY HoH. Its upward revision to demand assumption for FY3/25 is mainly iPad (LCD model appears to be strong) and CIS for HDD. This is largely in line with our previous update. Read full story here: https://buff.ly/4hoUsuJ For more information on our #BestGlobalTechHardwareTeam product, and other Aletheia Capital research, please contact info@aletheia-capital.com #investments #advisory #ideas #fintech #InYourCorner

Tech Thematic Strategy | Ready For Battle - Keith Woolcock The chart looks at revenue per employee. I have included both Marvell and AMD because both these chip companies are trying to compete with nVidia. nVidia’s Jensen Huang, like Google’s Sundar Pichai, Meta’s Mark Zuckerberg and Microsoft’s Satya Nadella have each spoken of how AI is letting them automate their businesses and run fast growing companies with fewer staff. As the chart illustrates, at the moment both nVidia and Meta are seeing the sharpest increases in revenue per employee. One reason why, as Huang often asserts, is that nVidia has been using AI to speed up the design of its chips, as well as automating its business processes. Read full story here: https://buff.ly/3Uxi4n8 For more information on our #tech #thematic #strategy product, and other Aletheia Capital research, please contact info@aletheia-capital.com #investments #advisory #ideas #fintech #InYourCorner

May the Festival of Lights brighten your days with joy, prosperity, and the warmth of togetherness. Wishing you a Diwali filled with light and endless happiness! #DiwaliDelight #FestivalOfLights

Asianomics | Listening to the Barking Dogs - Jim Walker The informal/underground/parallel economy is a feature of every country. The initial academic research on the subject was undertaken for the US in the 1970s. From time-to time economists have turned to it to explain anomalies in activity or non-statistical measures e.g., consumer confidence surveys, which seem to be inconsistent with published indicators. But just as quickly as their interest is piqued it is discarded in confusion. The unreported economy – which consists of illegal and legal activities – is inherently unknowable because, simply, the data doesn’t exist. In a formal analysis it can only be inferred (usually after making heroic assumptions) but often it is investigated by survey – best of luck assessing the illegal drug trade with that self-policing approach. View full story here: https://buff.ly/4fpmlkR For more information on our #asianomics #macroeconomic and strategy products, or other Aletheia Capital research, please contact info@aletheia-capital.com #investments #ideas #advisory #fintech #InYourCorner

Tactical Alpha Strategy | Batter Up - Justin Collazo The uptick in inflation is being driven by higher incomes, driving increased spending. Read full story here: https://buff.ly/4foeVy6 For more information on our #tactical #alpha #strategy product, and other Aletheia Capital research, please contact info@aletheia-capital.com #investments #advisory #ideas #fintech #InYourCorner