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Transcendent Toyota

Posted November 05, 2021

Aaron Gentzler

By Aaron Gentzler

Transcendent Toyota

What chip shortage?

Toyota, the world’s largest automaker by vehicle sales, reported phenomenal earnings this week.

For the third quarter -- covering July-September -- Toyota reported an operating profit of $6.6 billion, far exceeding the $4.8 billion projected by analysts.

“Toyota’s relative resilience was seen most clearly in the U.S., its biggest market, where it outsold perennial market leader General Motors Co. for the second quarter in a row,” The Wall Street Journal says.

The Japanese automaker’s secret to success?

“Toyota wasn’t hit as hard as many of its competitors -- because it began to maintain a stockpile of critical parts such as semiconductors years before the current crisis -- allowing it to keep factories running for longer.”

More on the semiconductor industry below…

Send your opinions to, TheRundownFeedback@StPaulResearch.com

Your Rundown for Friday, November 5, 2021...

Game ON…

Like Toyota, American chip maker ON Semiconductor had a third quarter for the record books. “The company reported $1.74 billion in consolidated revenue driven by gains in all segments,” reports Green Entrepreneur. “The revenue is up 31.8% from last year.

“In the wake of the Q3 earnings report… shares of ON Semiconductor are up more than 10% and are trading at a new all-time high.”

chart

Courtesy: Green Entrepreneur

From a technical perspective: “The indicators are strongly bullish and convergent with the new highs,” says Green Entrepreneur.

“Price action may move lower in the near-term, testing support within and possibly closing the gap that just formed, but new highs are likely on a regular basis over the next several quarters at least.”

Plus, the company’s offerings are in line with the proliferation of green technology. CEO Hassane El-Khoury says: "With a rapidly expanding design-win funnel for disruptive applications such as electric vehicles, [advanced driver-assistance systems], industrial automation, and alternative energy, coupled with ongoing transformational changes, we are making sustainable progress towards our target financial model.”

We’ll keep you posted on this standout American semiconductor stock…

Market Rundown for Friday, Nov. 5, 2021

S&P 500 futures are up 24.5 points to 4,705.

Oil is up 1.5% to $79.95 for a barrel of WTI.

Gold is up $3.20 to $1,796.60 per ounce.

Bitcoin’s up almost 1% to $61,745 at the time of writing.

Send your comments and questions to, TheRundownFeedback@StPaulResearch.com

Enjoy the fall weekend… We’ll catch up Monday.

For The Rundown,

Aaron Gentzler

Aaron Gentzler
Editor, The Rundown
TheRundownFeedback@StPaulResearch.com

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