リーダーから中型株へのカスケードトラッカー

NVIDIA earnings set the tone for the entire semiconductor supply chain. A beat or miss cascades first to memory suppliers (SK Hynix, Micron), then to TSMC and equipment names, and finally to the hyperscaler customers that drive GPU demand.

ASML's quarterly order bookings are a leading indicator for semiconductor capex cycles. Strong EUV orders signal fab expansion across TSMC, Samsung, and memory makers, cascading to peer equipment companies and then to chip designers who benefit from capacity growth.

Hyperscaler capex guidance cascades through the AI supply chain. When Microsoft raises Azure AI spending, it validates GPU demand (NVIDIA), foundry utilization (TSMC), and signals peer hyperscalers will follow suit.

Microsoft Azure AI capacity announcements trigger a multi-layer infrastructure cascade. Azure capex guidance directly validates GPU demand (NVDA), which flows to semiconductor equipment makers (AMAT, LRCX) needed to produce AI chips, and finally reaches memory suppliers (MU, SK Hynix) who provide HBM for AI accelerators.

Tesla's quarterly delivery numbers cascade through the entire EV battery supply chain. Strong deliveries signal healthy end-demand, boosting battery makers, then lithium miners. Weak deliveries trigger fears of EV slowdown across the chain.

First Solar's share price reacts sharply to IRA policy developments and utility-scale solar contract wins. As the only large-scale domestic thin-film manufacturer, FSLR leads a cascade through residential solar (ENPH, SEDG, RUN) and then into battery storage and lithium supply (ALB, SQM).

Defense budget announcements and Lockheed Martin's order book set the tone for the sector. As the largest DoD contractor, LMT's backlog growth signals budget flow to primes and then to mid-tier defense electronics suppliers.

GLP-1 drug data and sales figures from Eli Lilly cascade through the obesity/metabolic drug landscape. Positive tirzepatide data lifts the entire GLP-1 class while pressuring competitors in adjacent therapeutic areas that obesity drugs may disrupt.

Visa's transaction volume acceleration triggers a cascade through the payments ecosystem. As Visa and Mastercard formalize stablecoin settlement rails, institutional capital flows from the legacy network leaders into crypto infrastructure — particularly Coinbase, which serves as the institutional custody and settlement backbone for TradFi's crypto adoption.

Albemarle, as the world's largest lithium producer, sets the institutional tone for the entire critical minerals supply chain. Policy catalysts — IRA subsidies, Defense Production Act invocations, federal loan commitments — trigger accumulation in ALB first, then flow to copper leader FCX, and finally to development-stage US-based miners MP Materials and Lithium Americas as the thesis broadens.