Apple 3Q25 (Jun-25): a good 10% beat, 4Q guidance 5% above Consensus. That’s great but questions on Services remain (Epic ruling, Google search and payment, lagging AI)

Hyperscalers 2Q25: Cloud revenues growth accelerate. 2025 Capex revised up. 2026 Capex will increase.

Samsung 2Q25: a very poor quarter, poor outlook for 2H25 but management is very bullish on HBM / AI memory / Foundry catch up

Hyperscalers 2Q25: revenue growth accelerates, Cloud revenues accelerate, Capex higher

MTK 2Q25: inline but positive one-off. Very weak 3Q with revenue decline QoQ and margins compression. Management remains very bullish on AI and Auto, and that’s a problem for the share price

UMC 2Q25: the recovery is cancelled out by NT$ appreciation

Renesas 2Q25: revenue inflexion is visible but management cautious

Intel 2Q25: it’s getting worse. Even excluding restructuring charges, gross margin miss by 700bps, non-GAAP operating income is negative.

SK Hynix: good 2Q25, positive messages but no 2026 guidance means that market’s doubts will remain

TXN 2Q25: good results, decent guidance, the stock tanks -13%. The market didn’t like the new narrative.

NXP 2Q25: slowly getting out of the hole

Smartphone 2Q25: boring boring