Harlan’s AVGO Call Takeaways, TSM 2Q Preview; D1 Team Says Go with Momo; Today’s Headlines

研报英文原文证据摘录

Harlan’s AVGO Call Takeaways, TSM 2Q Preview; D1 Team Says Go with Momo; Today’s Headlines

Joshua Meyers - Specialist Sales - US TMT AC (1-617) 310 0767 North America Specialist Sales J P M O R G A Njoshua.meyers@jpmorgan.com

J.P. Morgan Securities LLC 08 July 2026

News & Reads

• Apple begins testing CXMT’s DRAM chips for devices sold in China; Apple’s interest thrusts CXMT and its

relationship with Beijing into the spotlight - FT

• Apple’s Chip Deal With Broadcom Expected to Exceed $30 Billion. Apple said in a Trump-focused message that its

expanded agreement with Broadcom expected to top $30 billion. The deal will involve manufacturing more than 15 billion

chips in the US and will include a $1.5 billion investment in Broadcom's RF production plant in Fort Collins, Colorado-

Bloomberg

• Introducing Muse Image and Muse Video.Meta’s Superintelligence Labs launched Muse Image, an agentic image

generation model that uses search and coding tools, self-refines its outputs, and improves with test-time compute scaling,

currently ranked No. 2 on Arena for text-to-image and editing , alongside a preview of Muse Video, which ranks No. 3 for text-

to-video but has gaps in audio-video sync and fast-motion physics . Both are rolling out across Meta’s owned surfaces — Meta

AI app, meta.ai, Instagram Stories in the US, WhatsApp in limited countries, with Facebook coming soon — signaling Meta’s

push to keep generative media in-house rather than relying on third-party model providers. For a hardware investor, the

signal is mainly about compute demand: the emphasis on test-time compute scaling and agentic tool use (multiple reasoning/

generation passes per image) implies rising inference-side GPU/accelerator consumption at Meta’s scale, not a new revenue

line itself – Meta Blog