TMTB Morning Wrap

Good morning. Futures flat this morning. Oil +2.5% as US/Iran continue to fail to agree on terms on ending the war. Asia mixed: TPX +0.3%, NKY -0.47%, Hang Seng +0.05%, HSCEI -0.05%, SHCOMP +1.08%, Shenzhen +1.62%, Taiwan TAIEX +0.45%, Korea KOSPI +4.32%. SK Hynix +13% / Samsung +3.3% / Softbank -6%

In Tech, new week, same story: Memory and CPU names leading the way higher as QCOM +5% continues to squeeze: INTC +5%, AMD +2%; MU +4.5%; SNDK +1%. Interesting action in the pre as several other semis names lower on seemingly no news: TSM -2%; ARM -3.5%; MRVL -3%; ASML -2.5%; ALAB -2.3%. Broader semis flat vs software -0.7% despite a MNDY +24% beat.

Let’s get right to it…

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INTC: SK Hynix Pursues 2.5D Packaging Collaboration with Intel, Signaling Shifts in AI Chip Supply Chain

According to ZDNET, SK Hynix is conducting research and development with Intel on 2.5D packaging technology, specifically testing Intel's Embedded Multi-Die Interconnect Bridge (EMIB) for integrating HBM and system semiconductors. As Taiwan's TSMC faces severe supply shortages for its CoWoS 2.5D packaging technology amid AI chip demand, Intel's EMIB is emerging as a potential alternative, diversifying the supply chain for AI accelerators used by companies like NVIDIA and AMD.

INTC: BofA Sees Potential Apple Foundry Deal as Significant Long-Term Upside