Accessible version Technology - Asia-Pacific Semis/hardware materials: raise EMC/ TUC/MPI POs on Google ASIC benefits Price Objective Change Rising TPU demand favors supply chain in different ways Considering likely rising demand for TPU into 2026/27, we (see report) upgrade GUC and WT Micro to Buy. On the semiconductor/hardware materials side, we also flag EMC, TUC, and MPI as the key beneficiaries within Google's in-house ASIC supply chain, and we reiterate Buy on these three names due to further expanded ...

Core Insights - Verizon Communications Inc. is a leading telecommunications company with a market cap of $169.5 billion, providing a range of services including wireless voice, data, broadband, and fiber services [1] - The company is classified as a large-cap stock, emphasizing its size and influence in the telecom industry, supported by investments in 5G infrastructure and network reliability [2] Performance Overview - Verizon's stock has decreased 14.3% from its 52-week high of $47.36, with an 8.2% decline over the past three months, underperforming the Dow Jones Industrial Average [3][4] - Over the past 52 weeks, Verizon's shares have fallen 7.7%, while the Dow Jones has returned 5.3%, and year-to-date, Verizon is up 1.5% compared to the Dow's 10.7% increase [4] Earnings Report - On October 29, Verizon reported mixed Q3 earnings, with adjusted EPS of $1.21, a 1.7% increase year-over-year, exceeding analyst estimates [5] - Operating revenue rose 1.5% year-over-year to $33.8 billion but fell short of Wall Street expectations by 1.1% [5] - The company raised its dividend for the 19th consecutive year, enhancing investor confidence [5] Competitive Positioning - Verizon has underperformed compared to its rival AT&T Inc., which gained 12% over the past 52 weeks and 13.6% year-to-date [6] - Despite recent challenges, analysts maintain a moderately optimistic outlook for Verizon, with a consensus rating of "Moderate Buy" and a mean price target of $47.30, indicating a 16.5% potential upside [6]

Core Insights - United Microelectronics Corporation (UMC) has strengthened its position in the global semiconductor landscape, becoming a reliable foundry partner amid the rise of advanced technologies [1] - The company has differentiated itself by focusing on mature and specialty process nodes, successfully navigating geopolitical tensions and supply chain disruptions [2] - UMC's stock has increased by 15.3% year-to-date, despite a disappointing performance in the April quarter, where it reported earnings of 9 cents per share, missing estimates [3][4] Financial Performance - UMC's revenue and earnings miss in the last quarter was attributed to a one-time price adjustment, along with depreciation and high capital expenditures [4] - Zacks estimates a negative earnings growth rate of 8.62% for the current year, but anticipates an 11.32% growth next year [5][7] - The company has outperformed its peers, with a 30.8% increase over the past six months compared to 8.5% growth in its peer group [5] Operational Highlights - UMC's foundries in Taiwan, Singapore, and Japan operated at healthy utilization rates in 2025, driven by demand in automotive electronics and industrial applications [2][7] - The company's strategic alignment and global diversification are increasingly valued in the current market [6]