Semis-on-Fire 24-July-2026: Mid-Cycle Corrections, TXN, INTC, AMD

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Semis-on-Fire 24-July-2026: Mid-Cycle Corrections, TXN, INTC, AMD

eynote often met with P/E contraction.

INTC 2Q26 Earnings: CPU Renaissance Playing Out, with Foundry 19-Jul-26: Semis Mid-Cycle Correction Playbook

Progress Building. INTC reported 2Q/3Q beat-raise metrics, including

15-Jul-26: 2Q26 Semis & SCE Investor Survey EPS upside of 95%/41%, revenue upside of 12%/8%, and gross margins

200 bps/150 bps better. Data Center grew 24% QQ and 59% YY, with

08-July-26: Channel Checks 07-July-26: Positive Trends + Initial demand exceeding supply, leading INTC to increase 2026 Tool CapEx

Mid/Late Cycle Signals. Webinar Replay here growth to 40% from 25% and guide 2027 CapEx for a significant increase

vs 2026. Yields are improving across key process nodes, and the CEO

02-July-26: Semis-on-Fire 02-Jul-2026: QNT Initiation, Semi noted momentum in recruiting foundry customers. We forecast INTC’s Data

Cycle…“Well Into Middle Innings”. Video Link here Center revenue to double in 2027 to $55bn, and expect foundry customer

announcements over the next 12 months.

29-June-26: QNT: Initiating Outperform: Pole Position in

Quantum Race AMD Advancing: Higher TAMs, Broader Portfolio. AMD framed a larger

AI opportunity, with an Accelerator TAM of $1.4tn by 2030 versus $500bn

26-June-26: Semis-on-Fire 12-June-2026: CRDO Initiation, by 2028, and a Server CPU TAM of $220bn by 2030 versus our $275bn

QCOM, ON. Video Link here. estimate. Helios was highlighted as AMD’s AI infrastructure flagship,

supported by a 2GW deal with Anthropic and a projected 2,000x increase

26-June-26: ON: ON + Synaptics Acquisition: Power Meets

in MI500 inference throughput over four years. Despite the broader AI Connected Compute

positioning, the stock fell 4% the next day versus a flat S&P, reflecting a