The U.S. State Department approved a $11.15 billion arms sale to Taiwan on Thursday, the largest of its kind, as the island nation grapples with mounting threats from China.US Supports Taiwan Defense Under LawThe sale includes artillery systems, anti-tank missiles, and spare parts for helicopters and anti-ship missiles, and falls under Taiwan's $40 billion supplemental defense budget unveiled by President Lai Ching-te in November.It covers 82 HIMARS rocket artillery systems and associated equipment valued a ...

17 December 2025 | 12:40PM HKT Portfolio Strategy Research ASIA STRATEGY BASKETS Focusing on Value Cyclicals, AI, and Policy-Driven Themes Our strategy baskets provide investors with a unique investment platform to generate ideas and track Asian equities through macro slices, geographic exposure, styles/factors, positioning, and thematic lenses. In this update, we rebalance 50 strategy baskets, which can be tracked in real time on Bloomberg and GS Marquee. Top Basket and Thematic Ideas Alvin So, CFA +852-29 ...

December 17, 2025 05:05 PM GMT We further raise our TP to NT$1,888 and recommend increasing positions in TSMC before the start of 2026. We expect TSMC to guide 2026 revenue growth in the mid-20% range and ultimately deliver 30% Y/Y: Please see our Global Semi 2026 Outlook by Joe Moore, which highlights AI as a robust growth driver for global semiconductors. Based on 2026 capex of US$49 billion and 3nm capacity expansion, we forecast 2026 revenue to grow 30% Y/Y versus Street consensus of 22%. At its January ...

The pipeline always finds its way back to this tech giant.If you said that artificial intelligence (AI) has taken the tech world by storm, you'd probably be underselling it. It seems it has consumed every tech-related conversation and caused pivots for many companies in the industry.The AI boom has been multifaceted. You have consumer-facing applications like ChatGPT that have driven much of its mainstream popularity, massive investments in data centers and cloud infrastructure, and high-performance hardwar ...

Core Viewpoint - The company emphasizes providing actionable and clear investment ideas through independent research, aiming to help members outperform the S&P 500 and mitigate significant losses during market volatility [1] Group 1 - The service offers at least one in-depth article per week focused on investment strategies [1] - The company claims to have assisted members in avoiding heavy drawdowns in both equity and bond markets during periods of extreme volatility [1]

Accessible version Last month, long-only funds' largest share purchases globally were TSMC, Rocket Companies, Apple, Tencent, and Robinhood Markets. In contrast, funds selling was for Meta, Naspers, NVIDIA, SanDisk, and JPMorgan Chase. The most well held stocks globally by long-only funds are TSMC (91%), SRM (88%), Microsoft (84%), NVIDIA (73%), Amazon (73%), and Tencent (72%). Crowded Positives and Crowded Negatives Analysis shows "Crowded Positives" (high ownership + positive Triple Momentum) tend to outp ...

Giverny Capital Asset Management, LLC, an investment management company, recently published its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The portfolio generated good results in the third quarter and returned 6.78% compared to 8.12% for the S&P 500. YTD, the fund returned 12.57% compared to 14.83% for the index. Additionally, you can review the fund’s top 5 holdings to see its best picks for 2025. In its third-quarter 2025 investor letter, Giverny Capital Asset Manag ...

Asia Pacific Equity Research 09 December 2025 J P M O R G A N Jennifer Hsieh (886-2) 2725-9868 jennifer.hsieh@jpmorgan.com J.P. Morgan Securities (Taiwan) Limited David Chou This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. Asian Tech NVDA wins approval for H2 ...

Accessible version We hosted a memory expert call on 12 Sep. The guest speaker was Avril Wu of TrendForce. Wu was not bullish on HBM for 2026 given her assumptions for bit growth (only +27% YoY vs +94% in 2025) and ASP (down 10% vs +21%) are more conservative vs our current forecasts (bit growth +51%, ASP -6%). Wu also expects Samsung Electronics' HBM4 to be more successful (vs 12-hi HBM3e) given superior tech specs (1c node, 4nm logic die) vs peers. However, we still assume Hynix's market-dominant position ...

Group 1 - Nvidia is a leading player in the AI infrastructure boom, with its GPUs being the primary chips for AI workloads, commanding over 90% market share in the GPU data center space [3][4] - Nvidia's revenue has seen explosive growth, increasing by 62% last quarter and more than tripling over the past two years, with new opportunities arising from U.S. government approval to sell certain chips to China [4] Group 2 - Alphabet is positioned to be a major winner in AI, with a complete AI tech stack that includes the Gemini large language model and Tensor Processing Units, providing a structural cost advantage [5][6] - Google Cloud revenue grew by 34% last quarter, with operating income surging 85%, while Google Search revenue is accelerating due to new AI features [6]