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Here’s how the 🇺🇸 is spending money on building domestic semiconductor manufacturing

$NFLX Netflix Q1 FY24:

• Subscribers +9M Q/Q to 270M.
• Revenue +15% Y/Y to $9.4B ($0.1B beat).
• Operating margin 28% (+7pp Y/Y).
• EPS $5.28 ($0.76 beat).

Q2 FY24 Guidance:
• Revenue +16% Y/Y.
• Operating margin 27%.

$TSLA's new car registrations in Europe have DECLINED by -4.7% YTD compared to the last year.

In March, Tesla experienced a substantial DROP of -30.4% YoY on new registration.

March 2024 also saw the BIGGEST DROP in EU car sales in 16 months.

Despite this, Tesla's market share in Europe increased to 2.8% overall, including BEV, ICE vehicles, hybrids, etc.

Battery-electric car registrations declined by 11.3% to 134,400 units.

The market share for fully electric cars in March fell to 13% from last year's 13.9%, while hybrid-electric vehicles saw an increase to 29% from 24.4%.

Source: ACEA

$TSM TSMC Q1 FY24:

• Revenue +17% Y/Y $18.9B ($0.3B beat).
• Gross margin 53% (-3pp Y/Y).
• Operating margin 42% (-3pp Y/Y).
• Capex $5.8B.
• EPADR $1.38 ($0.06 beat).

3nm & 5nm were 9% & 37% of revenue.

#TSMC $TSM announces its 1Q24 financial results on April 18 as the company reported consolidated revenues of US$18.87B, a QoQ decrease of 3.8% but a 12.9% YoY increase. It has slightly outperformed the expected range of $18 to $18.8B.

Looking at sales of process technology, revenues from TSMC's 7-nm and more advanced processes contributed 65%! Breaking it down, the 3-nm process saw its revenue contribution decline from 15% in the previous quarter to 9%, while the 5-nm and 7-nm processes increased their shares by 2 percentage points each, accounting for 37% and 19%, respectively.

Revenue distribution by technology platform showed that HPC and smart mobile platforms accounted for 46% and 38% of total revenue, respectively. IoT, automotive, consumer electronics, and others made up 6%, 6%, 2%, and 2% respectively.

The global top ten semiconductor foundries would see a potential annual revenue increase of 12% in 2024, reaching $125.24B, driven by AI-related demand. Benefiting from steady orders for advanced processes, TSMC's growth rate is expected to significantly outperform the industry average.

S&P 500 Closing Bell Heatmap (Apr. 17, 2024)

$SPY -0.59% 🟥
$QQQ -1.22% 🟥
$DJI -0.14% 🟥
$IWM -0.12% 🟥

$UAL +12%; as the company reported "better-than-expected" Q1 earnings despite a $200M hit over Boeing's safety crisis.

$LLY | Eli Lilly's weight-loss drug, Zepbound, has shown promise in "reducing symptoms of obstructive sleep apnea", reducing breathing disruptions during sleep by up to 63% in two late-stage trials.

The results exceeded the expected 50-55% improvement projected by analysts and were accompanied by significant weight loss, with patients losing up to 20% of their body weight over 52 weeks.

These findings will be presented in full at the American Diabetes Association conference in June, with plans to submit the data for regulatory approval mid-year.

If approved for treating sleep apnea, Zepbound could significantly broaden the patient base eligible for insurance coverage of this costly treatment, which is priced at around $1,000 per month.

Currently, weight loss medications such as Zepbound do not receive coverage under Medicare, the U.S. federal health insurance program for the elderly and certain individuals with long-term disabilities.

This development positions Eli Lilly to compete more effectively in the weight-loss medication market, particularly against Novo Nordisk's Wegovy, which recently gained insurance coverage for certain conditions under Medicare.