Canon Inc. - ADR (CAJPY)

12-month price target has a skinny runway of $36.50.

Took some profits. Now at $32.41, 12-month price target of $36.50. Competitive lithography process, at the point of scaling it. He's now considering whether to get back in. Fabulous job, deep pockets, can scale. Will be very competitive with ASML (which has issues of its own). He'd wait and is watching very closely.

CAJPY is based in Japan, so keep in mind we do not follow it closely. It has strong market share, a strong balance sheet, and good expected earnings growth. Even with good gains this year, valuation is decent at 14X earnings. Its legacy chipmaking machines are seeing very strong demand. We would consider it a decent investment but please not the first line above. We do not know it very well.
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Stock's held in, even as the wider Japanese market rolled over. He took some profits from ASML and put them into CAJPY. It's come out with lithography equipment that's cheaper and just as productive as that from ASML.