Brendan, uh, the timing of this is all very interesting. Of course, we heard from Megan on Tik Tok and now we hear from Christina on chips. And does this suggest to you that, uh, maybe China is is trading Tik Tok for chips as it pertains to just the geopolitical balance between China and the US.>> Yeah. What I mean, these are ponds on the chessboard. I think a few copies of Art of the Deal got sold in China.uh if it's Boeing airplanes, soybeans from the Midwest. Uh these are things that from the China side, ...

Bitcoin is decoupling from Gold.What comes next is obvious.Catch up! https://t.co/8VTNzvzWTF ...

I don't think anything's really changed since Wednesday or Thursday of last week, but the market is moving in that general downward direction. Yeah, I mean, their earnings was kind of a non-event in many respects. There was a lot of left in that kind of TBD category.We still really don't know what's going to happen with China when that revenue is going to come back, How much of it is going to come back. But we believe that probably will be some China revenue. So that was a kind of a mixed message.We know th ...

On the bright side, I looks like ETH decoupled from the Wale vacation indicator ...

Among business and policy elites, no consensus exists about whether India should aim to decouple from China. If Donald Trump were predictable, such calculations would be easier.Because he is not, the country walks on treacherous ground https://t.co/sdGjM1qM8c ...

For contextThe value of Bitcoin is outpacing the value of a dollarEven tho bitcoin is not all time high yet in USD terms.This genuinely just makes me want to buy so much more bitcoin.Easy (@EasyEatsBodega):BTC against the Dollar is JUST under all time high.All time high against the dollar was made in May.The decoupling of Bitcoin against the dollar is happening in real time. https://t.co/0Q2RnfK7RA ...

BTC against the Dollar is JUST under all time high.All time high against the dollar was made in May.The decoupling of Bitcoin against the dollar is happening in real time. https://t.co/0Q2RnfK7RA ...

US-China Relations & Trade Policy - The US under the Trump administration lacked a clear China strategy, with internal divisions on how to approach the relationship [1][2] - Treasury Secretary's engagement with the Chinese Vice Premier appears to be stabilizing the relationship in the short term [3] - Both US and Chinese leaders recognize their economic interdependence, despite discomfort, making decoupling challenging [4][5] - A truce exists with a desire to maintain stability in the bilateral relationship [5] Rare Earths & Supply Chain - Diversifying rare earths and other supply chains is proving difficult and may take a generation [6] - The US remains reliant on China for materials like magnets [7] - While China has leverage in certain areas, the US can also significantly impact the Chinese economy; both countries are vulnerable and interdependent [7] Economic Impact & Global Implications - Escalation between the US and China would harm both economies and spread to Southeast Asia and the global economy [8]

Financial Data and Key Metrics Changes - The company is nearing the end of a six-year capital expenditure (CapEx) cycle, which began in 2021, with significant investments aimed at expanding capacity in the U.S. [7][12] - The company reported a 13% growth in the first half of Q2, with expectations for continued acceleration in revenue growth [34][40] - The revenue opportunity supported by new investments could exceed $40 billion by 2030, depending on market demand [25][26] Business Line Data and Key Metrics Changes - The company has increased its exposure to high-growth markets, particularly industrial and automotive, from 40% in 2013 to around 70% in 2022 [10][11] - The company is focusing on embedded business, with new fabs designed to support high-speed analog and embedded products [15][23] Market Data and Key Metrics Changes - The industrial sector is showing broad recovery across all geographies and channels, with significant growth expected [40][41] - Automotive markets are recovering, particularly in China, driven by increased electric vehicle (EV) adoption [42][66] Company Strategy and Development Direction - The company is strategically investing in U.S. manufacturing to ensure geopolitical reliability and to better support customers [12][12] - The focus is on transitioning from older fabs to more efficient 300mm wafer fabs, which will significantly reduce costs and improve margins [102][104] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the semiconductor market, particularly in industrial and automotive sectors, and emphasized the importance of being prepared for demand surges [34][39] - The company is well-positioned to navigate geopolitical tensions and potential decoupling from China, viewing it as an opportunity rather than a risk [72][74] Other Important Information - The company is actively working on requalifying parts for different manufacturing locations to mitigate potential tariff impacts [91][92] - Management highlighted the importance of maintaining a diverse manufacturing footprint to support customer needs and market demands [12][66] Q&A Session Summary Question: What is the current state of the semiconductor market recovery? - Management noted a broad recovery in the industrial sector and a positive outlook for automotive markets, particularly in China, where EV adoption is increasing [39][42] Question: How is the company managing inventory levels? - The company is deliberately holding higher inventory levels to prepare for demand fluctuations and to avoid capacity constraints experienced in previous cycles [46][52] Question: What are the implications of tariffs and geopolitical tensions? - Management indicated that current tariffs have not significantly impacted operations, and the company is prepared for potential changes in the geopolitical landscape [62][64]

Core Viewpoint - The trend of "East Rising, West Falling" is very strong, indicating a significant shift in geopolitical dynamics that could create investment opportunities in China [1][2][35]. Group 1: Geopolitical Changes - The relationship between the U.S. and China is likely transitioning from "Decoupling" to "Deal," which may alleviate U.S. inflation and boost domestic demand, thus enhancing the sustainability of U.S. finances and leading to a revaluation of Chinese assets [2][35]. - The current U.S. political landscape is characterized by intense internal party conflicts, which are reshaping the geopolitical environment and influencing the G2 relationship [7][11]. Group 2: Economic Conditions - The U.S. is facing a severe imbalance in its macroeconomic accounts, with a significant gap between national investment and savings, leading to a persistent current account deficit [13][14][15]. - The U.S. service trade surplus, which has historically helped balance the current account deficit, may shrink due to recent technological shifts and trade tensions [20][21][22]. Group 3: Investment Opportunities - There is a critical opportunity for investors to capitalize on the potential revaluation of Chinese assets as external conditions change [3][36]. - The upcoming strategic opportunity for China is emphasized, suggesting that investors should be proactive in seizing these moments [47]. Group 4: Market Sentiment and Expectations - Market fluctuations are primarily driven by collective expectations rather than just fundamental factors, indicating that investor sentiment plays a crucial role in market dynamics [4][45]. - The concept of the "multiplier effect" is highlighted, where consumer confidence and expectations can significantly influence economic behavior and market performance [39][44].