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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Nvidia, AMD, Broadcom Could Shine This Earnings Season — Here’s Why Investors Are Watching Closely

 Nvidia (NVDA) – All Eyes on Blackwell AI Ramp

  • Nvidia doesn’t report earnings until late August, but KeyBanc expects estimates to keep rising thanks to its Blackwell AI platform and the newer Blackwell Ultra chips (higher selling prices).

  • Despite some production issues with its GB200 NVL72 racks and reduced supply of interposers, demand from hyperscalers (like cloud giants) remains strong.

  • KeyBanc forecasts:

    • Q2 revenue: $45.1B (slightly below consensus $45.6B)

    • Q3 guidance: $53.5B (above consensus $51.8B)

  • Investors will also monitor:

    • Nvidia’s position in China

    • Impact of US export restrictions

    • Adoption of NVLink interconnect tech

AMD (AMD) – Riding the AI and Server Demand Wave

  • Key growth drivers:

    • New MI355 AI chips (part of the MI350 series)

    • Stronger demand for Turin (5th-gen EPYC) traditional server chips

  • AMD is seeing faster adoption of Turin by cloud players compared to Intel’s latest chips.

  • KeyBanc forecasts:

    • Q2 revenue: $7.51B (above consensus $7.41B)

    • Q3 guidance: $8.63B (above consensus $8.25B)

  • Risks: Uncertainty in data-center GPU demand and earlier-than-usual PC sales due to tariff fears.

Broadcom (AVGO) – Strong AI Tailwinds from Google & Meta

  • KeyBanc sees upside in 2H 2024 from:

    • Google’s TPUs (tensor chips)

    • Meta’s custom accelerators

  • Broadcom is a leader in AI-specific chips (ASICs).

  • Revenue estimates:

    • Q3: $15.8B (in line with consensus)

    • Q4: $17.7B (above consensus $17B)

  • Watch for updates on:

    • AI chip backlog

    • Partnerships with Apple (iPhone 17 components)

    • Impact from China-US trade tensions

Potential Weak Spots: Qualcomm (QCOM) & Monolithic Power (MPWR)

Monolithic Power (MPWR):

  • Gaining ground in Nvidia’s Blackwell Ultra HGX systems.

  • But overall market share gains are slowing due to weakness in its enterprise data business.

Qualcomm (QCOM):

  • June quarter looks good thanks to China headset subsidies.

  • But Q3 guidance may disappoint:

    • Subsidies are winding down.

    • Android demand is soft.

    • Apple’s in-house modem could hurt Qualcomm’s market share longer term.

Final Takeaway for Investors

  • Bullish outlook: Nvidia, AMD, and Broadcom are well-positioned to ride the AI wave.

  • Caution: Qualcomm and Monolithic face near-term challenges.

  • Watch for AI chip ramp updates, cloud demand trends, and any ripple effects from China trade policies or PC market shifts.

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