TSMC and ASML earnings beats failed to lift semiconductor stocks, signaling market skepticism and a rotation to Big Tech. Korean memory makers face pressure from leveraged ETF crackdowns and CXMT's expansion. Meanwhile, US-Iran tensions in the Strait of Hormuz are embedding a structural premium into oil prices.
TSMC raised its FY2026 capex guidance to $60-64B and ASML raised its 2026 revenue outlook, confirming robust AI infrastructure demand. However, the muted or negative price action in these stocks suggests the market is either pricing in peak margins or rotating capital into Big Tech ahead of hyperscaler earnings.
The sharp decline in Korean memory leaders is attributed to the unwinding of leveraged ETFs, regulatory intervention suspending new single-stock leveraged ETF listings, and fears regarding China's CXMT capacity expansion. Local analysts argue the HBM demand cycle remains tight through 2027.
Sustained US-Iran skirmishes and attacks on shipping near the Strait of Hormuz are embedding a structural geopolitical premium into oil prices. Analysts expect this premium to persist, complicating the inflation outlook and central bank easing paths.
A value investor is buying Gabler AG in the low 40s, citing a derisked long-term thesis following Canada's selection of the 212CD submarine, which doubles the production program for Gabler's mast technology.
An investor identifies Mandarake as a high-conviction anime-adjacent bet, favoring its exposure to collectibles and authentication services over the capital-intensive anime production business.
Investors are pausing on ASTS following a surprise $1 billion convertible note offering, which raised dilution concerns and contradicted previous management statements regarding capital needs.
BNP Paribas initiated CoreWeave at Outperform with a $192 price target, framing it as a scaled AI infrastructure platform rather than a simple GPU middleman, pending execution on capacity ramp.
Investors are exiting IG Port and avoiding AlphaPolis due to the poor economics and cash bleed associated with the anime production business model.
South Korean regulators are suspending new listings of single-stock leveraged ETFs and increasing deposit requirements to curb speculative trading in names like Samsung and SK Hynix.