Quantum Computing or Space?

投稿日: 投稿者: タダシ

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〇 US Stocks

The US announced a $1 billion investment in semiconductor manufacturing for quantum computing for IBM. This was well-received, causing a sharp rise in stock prices. Besides IBM, GlobalFoundries received $375 million, and D-Wave Quantum, Ligetti Computing, Inflation, PsiQuantum, Atom Computing, and Quantinuum were also included, leading to increases in the stock prices of these companies.

The Trump administration also invested in Intel, which triggered a rise in its stock price.

 

After Intel, will quantum computing be the next big thing?

 

Quantinuum, a subsidiary of Honeywell, has applied for an IPO on NASDAQ. It aims for a market capitalization of approximately $20 billion.

 

From summer onwards, US stocks will likely focus on space and quantum computing. Personally, I think space is still premature. SpaceX, scheduled to list in June, is overpriced. While many investors feel compelled to buy, I will invest in a NASDAQ 100 mutual fund or ETF.

 

〇Japanese Stocks

Kioxia’s stock price continues to reach new highs. The momentum of its stock price shows no signs of slowing down. Its year-to-date increase is 34 times. Its market capitalization is 31.35 trillion yen, significantly exceeding Tokyo Electron’s 23.32 trillion yen. Despite the sharp rise in the stock price, the projected P/E ratio suggests it is undervalued. It is the world’s third-largest flash memory company.

The spread of AI technology is increasing demand for its products.

While it’s a buy on dips, there are only investors waiting for dips, so a decline seems unlikely.

There appears to be plenty of room for further upside.

〇Komatsu

While Caterpillar’s stock price is trading at high levels, Komatsu continues to search for a bottom.

The combined market capitalization of Caterpillar and Komatsu has expanded 11.12 times. This week, Sandvik’s stock price rose, widening the gap with Sandvik to 1.48 times.

The gap with European and American companies is widening. If measures aren’t taken to address the stock price, a hostile takeover bid (TOB) might be launched. The gap between the world’s number one and number two companies in the construction machinery industry is far too large.

〇  Bond Market; JX Metals Issues EUROYEN　Convertible Bonds for Extra Income

JX Metals issued convertible bonds (CBs) (125 billion yen each, maturing in May 2029 and May 2031). The funds will be used for recapitalization CBs for share buybacks.

 

〇 India

India is facing headwinds. These are high oil prices and job cuts due to the spread of AI. Last month, in April, Oracle reportedly laid off approximately 12,000 staff in India. Job cuts due to AI are likely to continue. India is synonymous with IT. The spread of AI is negatively impacting employment in India.

 

IPOs are also showing signs of slowing down due to oversupply. In addition to high oil prices, job cuts due to AI are negative factors for the Indian economy.

 

 

Data: Bloomberg

Certified International Investment Analyst (CIIA)

Certified Manager of Securities Analysts (CMA)

AFP

Tadashi Fujii

 

投稿者プロフィール

タダシ
大学時代から株式投資をはじめ、証券会社のトレーダーとなる。以後、30年
金融畑一筋。専門分野は債券、クレジット。
日本証券アナリスト協会検定会員（CMA）、国際公認投資アナリスト（CIIA)

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