https://deep-growth-investing.pages.dev/ Personal Equity Research Notes, Semiconductor Supply-Chain Breakdowns & Filing Checks en-us https://deep-growth-investing.pages.dev/posts/tsmc-3q26-earnings-n2-ramp-cowos-supply-audit/ https://deep-growth-investing.pages.dev/posts/tsmc-3q26-earnings-n2-ramp-cowos-supply-audit/ 2026-10-29T09:00:00Z A primary-source review of TSMC's 3Q26 results and 4Q26 guidance (as of Oct 28, 2026): US$46.72B revenue (+16.2% QoQ, +41.2% YoY), 66.4% gross margin (-1.3%p QoQ on N2 ramp dilution), 68% HPC share, 2nm jumping from 3% to 8% of wafer revenue, and 4Q26 revenue guidance of US$52.3B-$54.3B alongside a US$60B-$64B 2026 CapEx budget. https://deep-growth-investing.pages.dev/posts/sk-hynix-3q26-earnings-hbm4-80pct-opm-audit/ https://deep-growth-investing.pages.dev/posts/sk-hynix-3q26-earnings-hbm4-80pct-opm-audit/ 2026-10-29T09:00:00Z A primary-source review of SK Hynix's 3Q26 results (as of Oct 28, 2026): 104.6155 trillion KRW revenue (+32% QoQ, +328% YoY), 83.3338 trillion KRW operating profit (80% OPM), 39.7756 trillion KRW net profit, 98.7 trillion KRW net cash, HBM4 expected to overtake HBM3E in 4Q26, and a ~100 trillion KRW FY2026 shareholder return target. https://deep-growth-investing.pages.dev/posts/tesla-3q26-10q-ieepa-tariff-refund-margin-audit/ https://deep-growth-investing.pages.dev/posts/tesla-3q26-10q-ieepa-tariff-refund-margin-audit/ 2026-10-29T09:00:00Z A primary-source review of Tesla's 3Q26 shareholder deck and Form 10-Q (as of Oct 28, 2026): $28.046B revenue (-0.2% YoY), 19.6% total gross margin vs. Note 11 IEEPA tariff refund effects ($260M Auto + $526M Energy COGS reduction, -$339M Energy customer refund), 2.6% GAAP operating margin, and >$20B FY26 CapEx guidance. https://deep-growth-investing.pages.dev/posts/ai-supply-chain-3q26-crosscheck-tsmc-skhynix-tesla/ https://deep-growth-investing.pages.dev/posts/ai-supply-chain-3q26-crosscheck-tsmc-skhynix-tesla/ 2026-10-30T09:00:00Z Side-by-side 3Q26 comparison across three layers of the AI hardware stack (as of Oct 29, 2026): SK Hynix (80% OPM, 98.7T KRW net cash), TSMC (66.4% GM, 58.7% OPM, $60B-$64B CapEx), and downstream AI buyer Tesla (2.6% OPM, $13.01B 9M CapEx toward >$20B full-year budget). https://deep-growth-investing.pages.dev/posts/big-tech-3q26-ai-capex-scorecard-201b-audit/ https://deep-growth-investing.pages.dev/posts/big-tech-3q26-ai-capex-scorecard-201b-audit/ 2026-10-31T09:00:00Z A primary-source audit of 3Q26 (Jul-Sep 2026) cash flow statements across Microsoft, Alphabet, Meta, and Amazon (as of Oct 30, 2026): combined gross cash PP&E CapEx reached ~$201.9B (+107.6% YoY), pushing combined CapEx/OCF from 61.2% in 3Q25 to 115.1% in 3Q26, while Alphabet, Meta, and Amazon reduced Jan-Sep 2026 share buybacks to $0. https://deep-growth-investing.pages.dev/posts/apple-fy26-q4-10k-capital-light-ai-services-margin/ https://deep-growth-investing.pages.dev/posts/apple-fy26-q4-10k-capital-light-ai-services-margin/ 2026-11-01T09:00:00Z A pre-earnings baseline check ahead of Apple's FY26 Q4 call on Nov 2, 2026 at 14:00 PT (Nov 3, 07:00 KST), as of Oct 30, 2026: comparing Apr-Jun 2026 cash CapEx/Revenue across Apple (2.24%) vs. Amazon (27.02%), Alphabet (37.50%), Microsoft (39.78%), and Meta (49.53%), alongside Apple's 75.6% Services gross margin and FY26 Q4 CapEx baseline threshold of $3.534B-$3.599B. https://deep-growth-investing.pages.dev/posts/earnings-season-accounting-footnote-checklist-3q26/ https://deep-growth-investing.pages.dev/posts/earnings-season-accounting-footnote-checklist-3q26/ 2026-10-31T09:00:00Z A practical 3-step checklist for reading quarterly filings using three real 3Q26 case studies (as of Oct 29, 2026): (1) Tesla Note 11 IEEPA tariff refunds boosting reported GM, (2) SK Hynix's operating profit vs. net profit divergence (+38% vs. -58% QoQ), and (3) separating share cancellation buybacks from employee compensation buybacks. https://deep-growth-investing.pages.dev/posts/ai-capex-capital-cycle-liquidity-buffer-view-3q26/ https://deep-growth-investing.pages.dev/posts/ai-capex-capital-cycle-liquidity-buffer-view-3q26/ 2026-11-01T09:00:00Z Evaluating the 3Q26 AI hardware cycle through balance-sheet liquidity buffers and multi-year contract visibility (as of Oct 29, 2026): SK Hynix's 98.7T KRW net cash and >50% 2027-2028 LTAs, TSMC's NT$476.56B quarterly FCF on $60B-$64B FY26 CapEx, and Tesla's $45.45B cash + $30B credit line backing >$20B FY26 CapEx. https://deep-growth-investing.pages.dev/posts/fomc-october-2026-statement-sep-dot-plot-comparison/ https://deep-growth-investing.pages.dev/posts/fomc-october-2026-statement-sep-dot-plot-comparison/ 2026-11-01T09:00:00Z A line-by-line review of the October 28, 2026 FOMC statement, September vs. June 2026 SEP dot plot medians, and U.S. Treasury par yields (as of Oct 30, 2026): target range held at 3-3/4 to 4 percent (midpoint 3.875%) on a 10-2 vote, with both dissenters (Lisa D. Cook and Beth M. Hammack) preferring a 1/4 percentage point hike.