Gerald Tan

“Dig beneath your feet, there you will find a spring.” The place where you are now is crucial. Never try to avoid that which you must do.

[Gerald Tan @Y_YGeraldTan]

@insane_analyst please look into AEM SINGAPORE. their burn in is much better than AEHR

[Gerald Tan @Y_YGeraldTan]

@insane_analyst AEM Singapore as a competitor to AEHR?

[*Walter Bloomberg @DeItaone]

TRUMP: NO MORE SELLING BOMBARDIER IN UNITED STATES

[Gerald Tan @Y_YGeraldTan]

@PhotonCap look at AEM Singapore $AWX.SI. Much better technology and a much cheaper price.

[Gerald Tan @Y_YGeraldTan]

@illyquid $E28.SI! Market underestimating one of their top customer’s $TMO inflection (they have exposure to AI materials segment that will come through soon). AMAT committed certain volume to them + ASML ramp in 2H. These 3 will help them get 1B rev by 2027, earlier than expectations.

[Gerald Tan @Y_YGeraldTan]

@phithetasigma UBS just initiated AEM $16... Bull case TP $20. Even then they are conservative on margins. I think this trade still has legs to go.

[Gerald Tan @Y_YGeraldTan]

@phithetasigma and Micron will be enough to offset outsource manufacturing. If Intel ramps, even though margins will not be as good, it will be higher than prior years as AEM owns their own technology now vs co engineering in the past. Dollar accretive margin neutral.

[Gerald Tan @Y_YGeraldTan]

@zephyr_z9 Thoughts on Frencken? https://t.co/b4sc64yWbn

[Gerald Tan @Y_YGeraldTan]

@phithetasigma Why do you think AEM somewhat priced in? The ramp for AMD yes but not the ramp for Intel, ASE and Micron. Intel’s installed base of machines is not AMPS and will have a refresh if IFS picks up with HPC chips. For ASE, AEM’s PIXL tech will also spur a refresh vs their aging base.

[Gerald Tan @Y_YGeraldTan]

@Venu_7_ You are missing $Q. It’s ENTG but higher torque.

[Gerald Tan @Y_YGeraldTan]

@illyquid Bullish for Frencken and UMS. In particular Frencken as this facility coincides with with Frencken’s new factory that is going to be completed early next year. Hearing that they are pushing for the facility to be completed as soon as end of this year. Surprised E28 not up on this

[Gerald Tan @Y_YGeraldTan]

@TomSzczypka @crux_capital_ $SMTC is the main beneficiary here….

[Gerald Tan @Y_YGeraldTan]

@insane_analyst Are you more bullish on $SMTC with the recent Mediatek developments?

[Gerald Tan @Y_YGeraldTan]

@illyquid @phithetasigma Nice. Not the most levered but upside is easily a double when compared to $AEHR. Package level and SLT test TAM vs wafer level is multiples bigger. $KLIC and ASMPT also crucial players in IFS you can consider to play with solid downside protection.

[Gerald Tan @Y_YGeraldTan]

@illyquid @phithetasigma Dig deeper into PIXL. The intra chip thermal control was designed just for advanced packaging. Thermal control has to very precise given the different components in the chip, especially with the components being materially physically different from each other (HBM 12 high)

[Gerald Tan @Y_YGeraldTan]

@illyquid @phithetasigma The fact that ASE needed to onboard AEM and invested into AEM speaks volumes about the IP AEM has. If given a choice, I do not think ASE would bother onboarding a micro cap if $TER and Advantest were able to solve the thermal issue.