Silver Sunrise Euro TMT Daily

研报英文原文证据摘录

Silver Sunrise Euro TMT Daily

Scott Silver - Specialist Sales - European TMT AC (44-20) 7134-0412 Europe Specialist Sales J P M O R G A Nscott.silver@jpmorgan.com

J.P. Morgan Securities plc 24 June 2026

Scott Silver

+44 207 134 0412

scott.silver@jpmorgan.com

EU TMT TODAY

• Sage -Growth continues to trend above expectations; scope for modest upside to consensus organic growth- Toby Ogg

Read Full Note Here

• ams-Osram - Update into Q2’26: Base business and Balance Sheet improving, growing credibility on future growth

drivers- Craig A McDowell Read Full Note Here

• Prosus & Naspers - KPI Radar - Broadly stable discounts while listed assets NAV decline over the past week- Marcus

Diebel Read Full Note Here

QUICK SILVER : SNIPPETS

• SILVER SUNSET: Yesterday Top Talking Points: The conversations I found interesting over the course of the day

were dominated by: 1) AUTO1 ahead of our European internet tour tomorrow, 2) Semis selling off following the KOSPI

drop overnight and 3) Aixtron driving interaction within EU midcap semis. Tomorrow I will be heading off to Berlin to

meet with the management from CTS Eventim, HelloFresh,Mobile.de,Scout24,Ströer(paired with a site visit to view

the digital OOH inventory) and Zalando. The trip also includes an exclusive tour of one of Auto1’s refurbishment

centres, as well as a drop-off location, to understand the entire journey of a car with Auto1, followed by a meeting with

senior management. Marcus and team will be hosting 1x1 investor calls for detailed feedback on Monday, June 29th to

Wednesday, July 1st- RSVP for a slot. Read Full Note Here

• TECH VOLATILITY - Tech weakness rolled into US overnight, the SOX -8% (Micron -13% and Sandisk -14%)... But

Asia tech is bouncing back this morning, Samsung +8% the standout.