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KB LAMINATES plunges 18% as AI PCB stocks reverse in Hong Kong
Edgen Stock·Jul 22 2026, 05:53Share to
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[1] KB LAMINATES Slumps ~11% after Midday; KB LAMINATES Plunges ~18% (https://www.aastocks.com/en/stocks/news/aafn- ...)[2] Hong Kong Market Close | Three Major Indices Diverge, AI Supply Chain Stocks Lead Gains - 富途牛牛 (https://news.futunn.com/en/post/76339970/hong ...)[3] Full-scale counteroffensive! Hong Kong-listed AI stocks surge back—has the correction ended? - 富途牛牛 (https://news.futunn.com/en/post/76326396/full ...)
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Jul 22 2026, 07:42
Iberdrola H1 profit jumps 22% to €4.34B on grid investment push
Iberdrola reported H1 net profit of €4.34 billion, up 22%, as grid investments in Britain, the US and Brazil drove earnings. "The results reflect our focus on regulated network assets in markets with strong demand growth," the Spanish utility said in a statement Wednesday. Adjusted earnings before interest, tax, depreciation and amortisation rose 7% to €8.05 billion, while adjusted net profit increased 8%. First-half investments climbed 25% to €7 billion, with network spending accounting for nearly two-thirds of the total at €4.4 billion — up 42% year-on-year. Generation investments exceeded €2.2 billion, with more than 70% directed at onshore and offshore wind. The utility installed over 1.6 GW of capacity during the period. The company reaffirmed its full-year outlook for adjusted net profit growth comfortably above 8%. Liquidity stood at €21.5 billion, covering 22 months of financing needs. The dividend per share was €0.685, with €0.427 payable July 27. Iberdrola also announced the acquisition of Caruna, Finland's largest electricity distribution company serving more than 20% of the Nordic country's population, in a deal valued at €5 billion. More than 70% of total investment during the half was concentrated in Britain, the US and Brazil, underscoring the company's strategy of targeting jurisdictions with predictable regulatory frameworks and rising electricity demand from data centers and electrification. The results signal that Iberdrola's pivot toward regulated grid assets in stable markets is delivering consistent earnings growth. Investors will watch for further European distribution network acquisitions following the Caruna deal and for updates on data center-related demand in its core markets. This article is for informational purposes only and does not constitute investment advice.
Jul 22 2026, 07:40
Airbus launches €5B buyback as it targets near-doubling of profit by 2029
Airbus launched a €5 billion ($5.7 billion) share buyback and set a target to nearly double profit by 2029, sending shares up nearly 5%. "As we ramp up across all our businesses, working to meet strong demand for our portfolio of innovative civil and military solutions, our priorities are clear," Chief Executive Guillaume Faury said. "Our trajectory fuels our profitable growth." The European planemaker said adjusted earnings before interest and taxes would reach €12 billion to €13 billion in 2029, up from €7.13 billion in 2025. The commercial aircraft division alone is projected to contribute about €10 billion in operating profit by the target year. The board approved the €5 billion buyback over three years to return more capital to shareholders. The targets signal management's confidence in overcoming supply-chain disruptions and engine shortages that have constrained production. Airbus recorded a 15% increase in handovers during the first half of the year, and improvements at engine supplier Pratt & Whitney suggest further easing of constraints. J.P. Morgan analysts said Airbus could achieve its profit goals ahead of schedule within the next three years. Investors will watch the company's delivery cadence in the second half for signs that the production ramp-up is on track. This article is for informational purposes only and does not constitute investment advice.
Jul 22 2026, 07:40
NAND flash supply to exceed demand in H2 2027, TrendForce says
**TrendForce has become the first major research house to call the end of the current NAND flash upcycle, forecasting supply to overtake demand in the second half of 2027.** The NAND flash market will swing from a 4% to 5% supply deficit in 2026 to a surplus in the second half of 2027, ending nearly two years of steep price increases, TrendForce said. "Supply tightness is expected to diminish in the latter half of 2027 as process migrations boost bit output and consumer demand remains weak," the Taipei-based research firm said in its July NAND Flash report. Servers now account for more than 40% of total NAND flash bit demand, with shipments of Intel Corp. and Advanced Micro Devices Inc. next-generation platforms expected to drive 17% growth in server units this year. The ramp is accelerating in the second half of 2026 as component availability improves, including a significant easing of server CPU supply constraints and more stable memory supply under long-term supply agreements. But smartphones and notebooks, which together represent nearly 40% of demand, are contracting. Smartphone production is forecast to fall 15% to 20% in 2026, while notebook shipments are set to decline roughly 10%, TrendForce said. The reversal carries significant implications for memory chipmakers including Micron Technology Inc., Samsung Electronics Co. and SK Hynix Inc., which have enjoyed sustained pricing power during the upcycle. Average selling prices are expected to contract as supply growth outpaces demand, compressing margins across the industry. **Chinese Suppliers Emerge as Wild Card** Chinese NAND flash manufacturers are expected to boost production capacity significantly as new manufacturing equipment comes online, raising their share of global bit output to nearly 19%, TrendForce said. That additional supply could accelerate the timeline to surplus. Korean, US and Japanese suppliers are also upgrading existing production lines and selectively expanding output at current facilities to increase market supply. The forecast contrasts with more dire warnings from elsewhere in the industry. Silicon Motion Technology Corp. recently cautioned that 2027 would be the worst year yet for NAND availability as cloud companies receive priority over consumer products. Adata chairman Chen Li-bai has said DRAM shortages could persist for another decade, calling memory and electricity the world's two scarcest resources. SK Hynix has predicted the memory crunch will peak in 2027 and continue through 2030, while Micron also expects shortages to stretch beyond 2027. The supply crunch has already spurred architectural innovations to overcome memory bottlenecks. Surging KV Cache demand in the first half of 2026 collided with constrained memory supply, prompting leading chipmakers and cloud providers to pursue both hardware and software solutions. Penguin Solutions, Marvell Technology Inc. and Meta Platforms Inc. have introduced KV Cache servers and CXL switches to expand the memory hierarchy and increase effective capacity. Nvidia Corp. and Google have developed technologies such as KVTC and TurboQuant to compress KV Cache and reduce memory consumption. For investors, the divergence between NAND and DRAM outlooks creates a differentiated opportunity. Micron, which derives roughly 30% of revenue from NAND through its Micron and Lexar brands, faces ASP compression in the second half of 2027, while Samsung and SK Hynix benefit from more diversified memory portfolios. The NAND glut timeline also pressures Western Digital Corp. and Kioxia Holdings Corp., which are more exposed to NAND pricing cycles. TrendForce's forecast suggests the current upcycle has roughly 12 to 18 months of pricing power remaining before the market resets. Module makers have accumulated higher inventories due to weak consumer demand, while inventory held by other customer groups remains largely under control, suggesting the transition to surplus may be gradual rather than abrupt. This article is for informational purposes only and does not constitute investment advice.