7.5% NASDAQ Weekly Correction: Infineon, AMD, HPQ Silicon, and Siemens Energy in the Spotlight

Drones, Batteries, Hydrogen: HPQ Silicon Ignites the Tech Turbo

Not all stocks took a beating last week. The technology stock HPQ Silicon was a notable exception. And for good reason! The innovative company is evolving from a traditional materials company into a technology firm addressing several critical areas of future energy and industrial value creation. At the heart of its strategy are silicon-based battery materials, innovative processes for producing pyrogenic silicon dioxide, and decentralized hydrogen solutions—three markets that benefit from electrification, digitalization, and the global drive toward resilient supply chains. Management is taking a very pragmatic approach. Instead of competing directly in the low-margin mass market, HPQ focuses on performance-oriented specialty applications where technological advantages can be translated directly into higher selling prices.

The battery business is currently developing at a strikingly dynamic pace. Together with its French technology partner Novacium, the company recently developed silicon anode materials that have the potential to push the performance limits of conventional graphite solutions. The latest generation of 21700 cells surpassed the 7,000 mAh mark, positioning itself in a performance range that is attracting attention even on an international scale. In parallel, another technological leap was achieved with a semi-solid 8S drone battery: a capacity of 15,900 mAh with an energy density of around 395 Wh/kg opens up new application possibilities, particularly for industrial and military drones. Improvements of more than 20% over conventional systems in this segment can be decisive for flight time, payload, and ultimately the cost-effectiveness of entire missions. A first commercial order from the European drone market indicates that development is no longer taking place exclusively in the lab but is increasingly finding its way into real-world applications. Through the ENDURA+ brand, HPQ holds exclusive marketing rights for North America and is gaining access to Asian markets through partnerships. This economic region accounts for the majority of global demand for cylindrical lithium-ion cells, meaning that successful certifications and qualifications there could have a significant leverage effect.

Additional potential arises from the 36.8% stake in Novacium, which gives HPQ significantly greater access to future technological and economic value creation. This potential was most recently demonstrated at the Eurosatory 2026 defence and security technology trade show. There, Novacium, together with industry partners, presented a fully integrated European drone propulsion system that combines battery technology, electric motors, and intelligent control electronics within a closed-loop value chain. Given the geopolitical discussions about technological sovereignty and secure supply chains, this approach could prove to be a game-changer for institutional clients in the defence, security, and critical infrastructure sectors. At the same time, the fumed silica business is progressing. Here, HPQ is pursuing its own plasma-based process designed to convert quartz directly into pyrogenic silica, thereby reducing process steps, capital expenditures, and energy consumption. The investment story is rounded out by hydrogen and energy conversion technologies specifically designed for remote industrial sites, mining projects, and off-grid applications. With a valuation of approximately CAD 82 million, there remains a significant gap relative to industry giants. If progress continues at this pace, the story could suddenly become a multi-bagger.**

President, Chairman, and CEO Bernard J. Tourillon outlined his strategy at the 19th International Investment Forum.

https://youtu.be/V6FO2uPdQLI

Siemens Energy: Sometimes the Profit Lies in the Sale

The Munich-based energy and power plant specialist Siemens Energy has seen its share price increase twentyfold in just 3 years. The reasons were the fundamental financial restructuring via a federal guarantee and the turnaround of the Spanish wind power subsidiary Gamesa. As a result, operating profit (EBIT) is expected to rise from a loss of EUR 3.3 billion to a surplus of around EUR 2.0 billion by 2025/26. By 2029/30, the figure is even expected to reach EUR 10.6 billion. In this light, the EUR 136 billion market capitalization looks quite different. In the DAX rankings, however, the Munich-based company has had to cede two spots to Deutsche Telekom and Airbus in recent weeks. After a price drop of over 20% from its peak of EUR 195, it now ranks only sixth in the upper echelons of the German stock market. But that is no big deal—it is just a return to normal.

Since the data center boom, coupled with the energy infrastructure surge, is letting off some steam for now, it is important to look at the charts. With prices around EUR 155, this outlook is encouraging because, after breaking through the 100-day moving average at around EUR 161, the 200-day moving average at approximately EUR 133 is now in play. We had set the stop at EUR 159 and have been in neutral territory since the middle of last week, but would venture a new round with buy limits between EUR 130 and 136. After all, the fundamental "Buy" consensus on the LSEG platform stands at just under EUR 205. mwb research from Munich is very bold with a "Sell" rating and a price target of EUR 100. For now, investors should sit back and watch what happens.

Infineon and AMD: Chips on Sale

Mountaineers recognize these price patterns from their hikes. Progress is slow from the parking lot, then it gets steeper and more strenuous in the middle section, but only those who really push hard at the end make it to the summit. The striking revaluations at Infineon and AMD followed a similar pattern. After price gains of 100% and 300%, respectively, over the past 12 months, the stocks fell by 15% to 17% last week after reaching new highs; of course, there remains an exuberant profit in 2026. Tech enthusiasts would say, "Buy the dips!"—but the rational investor should start the week ahead with caution, as this is, after all, the first significant correction since the start of the year. For technical analysts, the 100- and 200-day moving averages offer good reference points. For Infineon, these stand at EUR 50 and EUR 45, respectively. "Reverse to the Mean" could imply a correction target of EUR 67 to 69—not much further down, since the stock closed at EUR 73.80 on Friday after hitting new all-time highs of EUR 89.70. The situation is somewhat more complex for AMD: here, the moving averages range from USD 240 to 280. A return to the mean would require declines into the USD 370 to USD 390 range. Whether this pullback will actually happen is questionable, as some analysts have only recently added the stock to their Buy lists. The remaining buying pressure, especially from institutional investors, could trigger rapid technical reversals here. An exciting week lies ahead—keep your distance; volatility is currently in full swing!

The stock markets have entered bumpy territory. Of course, we knew that tech stock prices had "possibly" risen a bit too sharply. But no one is exactly sounding the alarm to exit; in such a phase, buy recommendations usually come thick and fast. It is not easy to keep your bearings and your nerves here. Let's be very clear here: Siemens Energy, AMD, and Infineon have likely already reached their peaks in 2026, but the innovative battery and energy storage stock HPQ Silicon holds potential, as we are seeing only a fraction of its valuation here.