Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Thematic (Sector/Industry)

<ul>
<li>Q324 DRAM revenues amounted to $25.4 billion, up 8.6% QoQ and up 92.4% YoY</li>
<li>Q324 NAND revenues amounted to $17.9 billion, up 9.8% QoQ and up 93.6% YoY</li>
<li>PC, Smartphone segments sluggish due to high inventory levels while HBM and DDR5 are on fire driven by insatiable demand in the AI server segment. Decoupling continues into 2025.</li>
</ul>


Q324 DRAM revenues amounted to $25.4 billion, up 8.6% QoQ and up 92.4% YoY
Q324 NAND revenues amounted to $17.9 billion, up 9.8% QoQ and up 93.6% YoY
PC, Smartphone segments sluggish due to high inventory levels while HBM and DDR5 are on fire driven by insatiable demand in the AI server segment. Decoupling continues into 2025.


Semiconductor Memory Q324 Revenue Close To Historic Highs Even As Decoupling Intensifies

Chief Economist, Heteronomics

Phil Rush

Chief Economist

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul><li>The unexpected US election result provided Trump a strong base to execute his plans and increase borrowing. Despite fiscal loosening predicted to reduce cutting cycles, the Fed, BoE, and Riksbank all made cuts. Peru indicated neutral rates following its 25bp cut, while Brazil increased rates by 50bp.</li><li>Mexico stands out as it is set to announce rates in the coming week, while numerous central bankers have speeches planned.</li><li>Notable events in the upcoming week include the release of labour market data in the UK on Tuesday and US inflation data on Wednesday, which is the most significant global event on the schedule.</li></ul>

The unexpected US election result provided Trump a strong base to execute his plans and increase borrowing. Despite fiscal loosening predicted to reduce cutting cycles, the Fed, BoE, and Riksbank all made cuts. Peru indicated neutral rates following its 25bp cut, while Brazil increased rates by 50bp.Mexico stands out as it is set to announce rates in the coming week, while numerous central bankers have speeches planned.Notable events in the upcoming week include the release of labour market data in the UK on Tuesday and US inflation data on Wednesday, which is the most significant global event on the schedule.

Japan Specialist

Mark Chadwick

<ul>
<li>Japanese stocks had a stellar week, with the Nikkei 225 Index advancing 3.8% to close at 39,500, and the broader Topix Index gaining 3.7% to 2,742</li>
<li>The election of President Trump sparked a surge in U.S. equities, but also rising Treasury yields and a stronger dollar.</li>
<li>Furukawa and Net One were among the top performing stocks this week. MUFG, Recruit, Softbank, Tokyo Electron (and loads more) are slated to report earnings this week</li>
</ul>


Japanese stocks had a stellar week, with the Nikkei 225 Index advancing 3.8% to close at 39,500, and the broader Topix Index gaining 3.7% to 2,742
The election of President Trump sparked a surge in U.S. equities, but also rising Treasury yields and a stronger dollar.
Furukawa and Net One were among the top performing stocks this week. MUFG, Recruit, Softbank, Tokyo Electron (and loads more) are slated to report earnings this week


India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>FII outflows from India reached record levels in October 2024, driven by global uncertainties, including the US election.</li>
<li>Domestic Institutional Investors (DIIs) are poised to overtake FIIs as the largest non-promoter shareholder category in the Indian market.</li>
<li>Donald Trump's victory in the US Presidential election could lead to a reversal of FII outflows, particularly given his stance on China and potential for strengthening trade ties with India.</li>
</ul>


FII outflows from India reached record levels in October 2024, driven by global uncertainties, including the US election.
Domestic Institutional Investors (DIIs) are poised to overtake FIIs as the largest non-promoter shareholder category in the Indian market.
Donald Trump's victory in the US Presidential election could lead to a reversal of FII outflows, particularly given his stance on China and potential for strengthening trade ties with India.


FII Flows in India: A Shifting Landscape Amidst US Elections

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Equity Bottom-Up

ADX Energy Ltd. explores for oil and natural gas.  The Company operates onshore and offshore in Tunisia, offshore in Italy, and onshore in Australia.

<ul>
<li>All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025.</li>
<li>A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.</li>
<li>There are multiple zones to test.</li>
</ul>


All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025.
A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.
There are multiple zones to test.


ADX Energy (ASX: ADX): Approvals to Start Well Testing at Welchau Received.

Austria
Insights on Austria

Semiconductor Memory Q324 Revenue Close To Historic Highs Even As Decoupling Intensifies

Q324 DRAM $25.4 billion, +8.6% QoQ & +92.4% YoY. NAND was $17.9 billion, +9.8% QoQ & +93.6% YoY. Legacy markets sluggish while HBM and DDR5 are on...

William Keating

HEW: Rates React To Politics

The unexpected US election result provided Trump a strong base to execute his plans and increase borrowing. Despite fiscal loosening predicted to...

Phil Rush

Japan Weekly | A Stellar Week

Japanese stocks surged this week, with the Nikkei 225 and Topix Index both posting gains, while U.S. equities reacted positively to President...

Mark Chadwick

FII Flows in India: A Shifting Landscape Amidst US Elections

FII outflows from India hit record high in Oct-24 due to global uncertainties, but DIIs set to surpass as top non-promoter shareholders. Trump's...

Sudarshan Bhandari

ADX Energy (ASX: ADX): Approvals to Start Well Testing at Welchau Received.

All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024...

Auctus Advisors

Semiconductor Memory Q324 Revenue Close To Historic Highs Even As Decoupling Intensifies

Q324 DRAM $25.4 billion, +8.6% QoQ & +92.4% YoY. NAND was $17.9 billion, +9.8% QoQ & +93.6% YoY. Legacy markets sluggish while HBM and DDR5 are on...

William Keating

HEW: Rates React To Politics

The unexpected US election result provided Trump a strong base to execute his plans and increase borrowing. Despite fiscal loosening predicted to...

Phil Rush

Japan Weekly | A Stellar Week

​Japanese stocks surged this week, with the Nikkei 225 and Topix Index both posting gains, while U.S. equities reacted positively to President...

Mark Chadwick

FII Flows in India: A Shifting Landscape Amidst US Elections

​FII outflows from India hit record high in Oct-24 due to global uncertainties, but DIIs set to surpass as top non-promoter shareholders. Trump's...

Sudarshan Bhandari

ADX Energy (ASX: ADX): Approvals to Start Well Testing at Welchau Received.

All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024...

Auctus Advisors

Japanese stocks surged this week, with the Nikkei 225 and Topix Index both posting gains, while U.S. equities reacted positively to President...

FII outflows from India hit record high in Oct-24 due to global uncertainties, but DIIs set to surpass as top non-promoter shareholders. Trump's...