Latest Articles
Cloud Providers or Upstream Hardware? Comparing the Investment Logic of Microsoft, Alphabet, NVIDIA, and TSMC
Compare Microsoft, Alphabet, NVIDIA, and TSMC across the AI investment chain, including cloud platforms, upstream hardware, revenue drivers, financial indicators, valuation logic, and key risks.
What Are the Hong Kong AI Infrastructure Stocks? Investment Logic for SMIC, Hua Hong Semiconductor, and Lenovo Group
Hong Kong AI infrastructure stocks mainly cover wafer foundry, specialty processes, AI servers, storage, and liquid cooling. This analysis explains the business positioning, financial indicators, growth catalysts, valuation methods, and key investment risks of SMIC, Hua Hong Semiconductor, and Lenovo Group.
TSMC, Samsung, and Intel Foundry Competition: Will AI Chip Customers Diversify Their Orders?
Whether AI chip customers will diversify foundry orders depends on advanced process technology, yield, CoWoS packaging, HBM coordination, U.S. manufacturing, and geopolitical risk. This article analyzes the foundry competition among TSMC, Samsung, and Intel.
AI Spending War: Will the Cloud Capex Battle Drag Down Profits?
The AI Spending War is pushing up capital expenditure at Microsoft, Amazon, Alphabet, and Meta. This article analyzes how AI Capex affects profits, free cash flow, cloud gross margins, and tech stock valuations, while offering a practical framework for investors.
When Does AI Investment Start Making Money? Evaluating Returns Through Revenue Growth, Gross Margin, and Free Cash Flow
When does AI investment start making money? Instead of looking only at model launches or CAPEX growth, investors should evaluate AI ROI through revenue growth, gross margin, and free cash flow.
Why Did APT Satellite’s Share Price Surge? Business, Valuation, and Risks in the Commercial Space Boom
Why did APT Satellite 1045.HK surge? Analyze the stock’s rally through the Long March 10B rocket recovery, Hong Kong’s commercial space theme, APSTAR satellite operations, 2025 earnings, cash position, valuation, and major risks.
What to Watch in ASML Earnings: EUV, DUV, Backlog, and China Market Risk
This ASML earnings preview explains EUV, DUV, net bookings, backlog, AI chip demand, and China export control risks to help investors assess whether the semiconductor equipment cycle can continue.
ASMPT vs SMIC: Where Semiconductor Equipment and Foundry Manufacturing Fit in the AI Memory Chain
How should investors compare ASMPT and SMIC? This article analyzes their real positions in the AI memory chain from the perspectives of advanced packaging equipment, TCB, HBM, CPO, foundry manufacturing, mature nodes, capacity utilization, depreciation, and geopolitical risk.
Micron vs Sandisk vs Kioxia: How to Tell NAND Flash Companies Apart
Compare Micron, Sandisk, and Kioxia across NAND Flash, 3D NAND, BiCS Flash, QLC, enterprise SSDs, AI storage, and investor accessibility. Understand the differences between MU, SNDK, 285A, and ETF routes, including their suitability and key risks.