Hey everyone, Hirokichi here.
This week I’m picking one stock each from Japan and the U.S. that made the biggest headlines recently. Both jumped sharply after their earnings reports: ASICS (7936) and CoreWeave (CRWV). This continues the series from my previous post, [Weekly Stock Picks] Recruit & Eli Lilly.
ASICS (7936) hits an all-time high, on track for its first-ever ¥1 trillion in sales
ASICS is the Japanese sportswear giant behind its namesake running shoes and the Onitsuka Tiger brand. On August 14, 2026, the company released its first-half (January–June) results for the fiscal year ending December 2026 and raised its full-year guidance.
Consolidated ordinary income for the first half came in at ¥116.5 billion, up 48.3% year over year. On the back of that, ASICS raised its full-year ordinary income forecast from ¥165.0 billion to ¥189.0 billion, lifting expected growth from 18.5% to 35.7%. Full-year sales guidance was also raised, from ¥950.0 billion to ¥1.05 trillion — the company’s first time ever forecasting sales above the ¥1 trillion mark. The annual dividend forecast was also increased, from ¥38 to ¥44 per share (versus ¥28 the previous year).
The stock jumped on the news, closing up ¥456 (+9.57%) at ¥5,222. Intraday, shares reached as high as ¥5,389, topping the previous all-time high of ¥5,149 set back in May.
What investors should weigh with ASICS
On the positive side, growing demand for running shoes in Europe and the U.S., plus a resurgence for the Onitsuka Tiger brand, are driving results — this marks the fifth straight year of record profit, and analysts expect EPS (earnings per share) to grow around 17% annually over the next three years, well above the roughly 8–9% average for the broader market.
That said, there are things worth keeping in mind. The stock’s P/E ratio (price-to-earnings ratio) is now above 30x even after the strong results, a level that looks rich compared to its own historical average. In fact, ASICS shares have pulled back before after strong earnings, as investors took profits once good news was already “priced in.” If growth slows below expectations in coming quarters, the stock could see a correction — that’s a risk worth watching.
CoreWeave (CRWV) surges on AI cloud earnings, backlog tops $100 billion
CoreWeave is a U.S. company that provides GPU (graphics processing unit) cloud infrastructure for AI developers. In its Q2 2026 earnings, released on August 11, 2026, revenue came in at $2.58 billion, up 112% year over year and ahead of the $2.56 billion consensus. Adjusted loss per share also came in better than expected.
What really caught the market’s attention was the backlog, which topped $100 billion — and that figure doesn’t even include $25 billion in new Q3 commitments. It’s a clear sign of how strong AI-related demand has become. Shares jumped 22.9% the next trading day, August 12, rising from $87.64 to $107.73 in a single session. The company also announced new business with Anthropic and Meta, reinforcing just how broad-based AI infrastructure demand has gotten. Like Kioxia Holdings (285A) (a memory chip maker I covered in an earlier post), CoreWeave is drawing attention as a direct beneficiary of the AI boom.
What investors should weigh with CoreWeave
On the positive side, AI compute demand remains very strong — Oppenheimer estimates demand is running at roughly four times current supply — and analysts are broadly bullish. Truist upgraded the stock to Buy after a 42% pullback, and the overall analyst consensus is “Buy,” with average price targets in the $127–$138 range.
On the other hand, CoreWeave is funding its massive data center buildout largely with debt, and interest expense has climbed to $640 million, widening its net loss. Interest-bearing debt now stands at roughly $35 billion, and delays in infrastructure buildout or shifts in interest rates could affect the company’s earnings plan. It’s also worth noting that CoreWeave’s stock has fallen after each of its five earnings reports since its March 2025 IPO — this is a stock with a lot of volatility (how much the price swings), and that’s something to factor into any investment decision.
For reference, indexing the pre-earnings price at 100, ASICS rose to about 110 and CoreWeave to about 123 after their respective earnings reports. Even though both were “earnings pops,” CoreWeave’s move was clearly the bigger one.
Looking ahead
Here are three takeaways from this week’s picks:
(1) ASICS seems to be shifting from a stock driven purely by results to one driven by future expectations — how much further it can beat guidance next quarter will be key.
(2) CoreWeave sits right at the center of the AI infrastructure growth story, but its debt load and stock volatility are things investors can’t ignore.
(3) In both cases, a strong earnings report doesn’t automatically mean “buy now” — it’s worth thinking about how much good news is already priced into the stock.
Let’s keep at it, slow and steady. See you next time!
日本語版はこちら → 【今週の注目株】アシックス＆コアウィーブ（日本語版）
* This article is for informational purposes only and does not recommend any specific investment. Please make investment decisions at your own responsibility.
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