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· Premarket Alpha · by Buzzberg Research
TSMC pricing power signals AI cycle strength
TSMC is reportedly discussing strategic price increases of up to 10% for next year to offset rising manufacturing costs, which investors interpret as a sign of robust AI demand.
Alphabet's massive capex creates EPS dilution risk
Alphabet's aggressive AI infrastructure spending (projected $325B by 2027) is expected to necessitate equity issuance and debt, leading to EPS dilution and higher interest costs, which may weigh on stock performance despite strong cloud revenue growth.
Korean equity market volatility driven by leveraged ETFs
The KOSPI has experienced extreme volatility, with analysts comparing it to a casino-like environment due to heavy trading in single-stock leveraged ETFs. This activity is distorting market breadth and diverting capital from mid- and small-cap stocks.
US to impose 100% tariffs on generic drugs by 2028
President Trump announced a 100% tariff on generic drugs starting August 2028, aiming to force domestic manufacturing and align US drug prices with international benchmarks.
US spectrum auction to trigger telecom equipment super-cycle
The upcoming US 4.0GHz (upper C-band) spectrum auction is expected to ignite a massive 2026 wireless communication equipment cycle, mirroring the 2019 boom. Chinese vendors are excluded from this cycle, benefiting Korean suppliers.