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Typhoon Co-May hit eastern Zhejiang Province. Shanghai evacuated around 283,000 people from vulnerable areas. Almost 640 flights from Shanghai airports got cancelled. The city issued an orange rainstorm alert. Ferry services got suspended and speed limits imposed on highways. There were disruptions to metro and train services. China issued and then lifted a tsunami warning after an earthquake near Russia.
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The German sportswear giant sources most of its products from Vietnam and Indonesia.
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Sridhar Sivaram maintains a cautious view but expresses optimism for the second half of the year. He anticipates a potential shift in market leadership away from financials. Electronic Manufacturing Services is showing strong growth, driven by the Apple ecosystem. Sivaram suggests waiting for dips to enter the EMS sector.
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