Thoughts on the Market/Global Strategy; Weekly HW Recap; CPU Server Shipment Model; News: US Hardware / Semiconductors Sector Specialist Commentary Hardware • Semiconductors

研报英文原文证据摘录

Thoughts on the Market/Global Strategy; Weekly HW Recap; CPU Server Shipment Model; News: US Hardware / Semiconductors Sector Specialist Commentary Hardware • Semiconductors

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 13 July 2026

Thoughts on the Market/Global Strategy; Weekly HW Recap; CPU Server Shipment Model;

News

Joshua Meyers

+1 617 310 0767

joshua.meyers@jpmorgan.com

On Friday I released my quarterly buyside Analog/Connector Survey for APH, MCHP, NXPI, ON & TXN. It’s in your inbox,

and I’ve also pasted it below in this note. Please send your inputs early this weekand I’ll send an update with full metrics to those

who participate.

At 8:30am ET this morning Jimmy Huang in Taipei and Yasuhiro Nakada in Japan host a joint call to recap and share opinions on

MU’s $500m strategic financing into GlobalWafers, including what it means for the global silicon wafer industry, pricing, and

long-term supply agreements. Register here.

And Billy Feng from our China Research team is hosting a small group call on Wednesday to share takeaways from last week’s

Shanghai GPU tour and implications for AI compute. He can also share his views on China memory including takeaways from

the supply chain. He also has selective 1x1 availability. Please apprise of interest and I’ll revert with times.

Early thoughts on the US market from JPM Market Intelligence Head Drew Tyler…Futures are lower on a combination of

US / Iran escalation and South Korea / Semis coming under pressure. On the former, this drove oil prices higher overnight, but

gains have been cut in half. On the latter, there is some anxiety around excessive capex spend but also some technical factors.