JPM Week Ahead (8/3-8/7): Key Earnings Previews: APAC Industrial & Auto Sector Specialist Sales Commentary Auto & EV - Equipment - Machinery - E&C - A&D

研报英文原文证据摘录

JPM Week Ahead (8/3-8/7): Key Earnings Previews: APAC Industrial & Auto Sector Specialist Sales Commentary Auto & EV - Equipment - Machinery - E&C - A&D

Specialist Sales

APAC Specialist Sales J P M O R G A N

02 August 2026

JPM Week Ahead (8/3-8/7): Key Earnings Previews

Joann Kim

+852 2800 8016

joann.kim@jpmorgan.com

• Watch For Next Week: The heavy Japanese earnings season continues; please see below for details on upcoming earnings

for8/3-8/7 under JPM coverage, along with the full earnings calendar below.

• Key Discussion This Week: AI sentiment rebounded with a hyperscaler backlog boom after Amazon CEO Andy Jassy

commented that Amazon will spend $220bn in 2026 (up from $202bn), with a clear line-of-sight to strong financial returns—

helping ease investor concerns about potential AI spend cuts and ongoing robust CAPEX funding. Positioning has also turned

attractive, with JPM’s US Tactical Positioning Monitor (broad positioning gauge) easing back to the 20th percentile (-0.6z)

post-unwind, in line with late March 2026 lows around the Iran event. Key global/Asia AI picks-and-shovels names all

reported strong results, indicating that the underlying momentum of the DC buildout remains robust. Asian investors are

looking for names within the industrial AI space w/room for further earnings revision up and reasonable/attractive valuation.

The most discussed names: Panasonic, Hitachi, Mitsubishi Electric, Hyosung Heavy Industries, HD Hyundai Electric, and

Weichai Power.

Watch for Next Week - Key Earnings & Events (8/3-8/7, Time in HKT)

• Isuzu (7202 JP, 8/3 13:00 Print): Akira Kishimoto forecasts 1QFY26 Rev of Y825.1bn (3.3% above Cons) & OP of Y67.1bn

(3.3% above Cons). Although exports to the Middle East may not resume during 1H, we expect the impact to be broadly