Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

QUALCOMM, Inc . manufactures digital wireless communications equipment.  The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits; and produces equipment and software used to track workers and assets; and software for wireless content enablement.

<ul><li>Qualcomm has made headlines with the recent closing of its $2.4 billion acquisition of British semiconductor company Alphawave Semi, a strategic move intended to bolster its data center and AI capabilities.</li><li>The acquisition comes at a time when Qualcomm is gaining momentum across multiple verticals—from its Snapdragon platforms in premium Android smartphones to its growing traction in automotive and industrial IoT.</li><li>But perhaps the most transformative development lies in its ambitions for the AI data center segment, where it plans to take on incumbents by offering power-efficient inference-focused chips.</li></ul>

Qualcomm has made headlines with the recent closing of its $2.4 billion acquisition of British semiconductor company Alphawave Semi, a strategic move intended to bolster its data center and AI capabilities.The acquisition comes at a time when Qualcomm is gaining momentum across multiple verticals—from its Snapdragon platforms in premium Android smartphones to its growing traction in automotive and industrial IoT.But perhaps the most transformative development lies in its ambitions for the AI data center segment, where it plans to take on incumbents by offering power-efficient inference-focused chips.

Qualcomm Acquires Alphawave: The AI War Is Heating Up!

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

Shanghai Biren Intelligent Technology / Equity Capital Markets

Shanghai Biren Intelligent Technology Co. Ltd. operates as a general smart chip design developer. The Company provides artificial intelligence training and inference, graphics rendering, high performance general purpose computing, and other services. Shanghai Biren Intelligent Technology conducts businesses in China.

Shanghai Biren Intelligent Technology (SBIT HK)

<ul>
<li>Biren Technology is getting ready to complete its IPO in Hong Kong on 2 January 2026. The IPO price range is from HK$17.00 to HK$19.6 per share.</li>
<li>Biren Technology is China-based semiconductor company specializing in general-purpose computing on graphics processing units (GPGPU) and GPGPU-based intelligent computing solutions. Its mission is to deliver foundational computing power for AI.</li>
<li>The company has experienced a significant revenue growth from from RMB 0.5 million in 2022 to RMB 62.0 million in 2023 and RMB 336.8 million in 2024. </li>
</ul>


Biren Technology is getting ready to complete its IPO in Hong Kong on 2 January 2026. The IPO price range is from HK$17.00 to HK$19.6 per share.
Biren Technology is China-based semiconductor company specializing in general-purpose computing on graphics processing units (GPGPU) and GPGPU-based intelligent computing solutions. Its mission is to deliver foundational computing power for AI.
The company has experienced a significant revenue growth from from RMB 0.5 million in 2022 to RMB 62.0 million in 2023 and RMB 336.8 million in 2024. 


Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

MediaZest Plc is a holding company, which engages in the provision of audio visual solutions. It operates through the following geographical segments: UK and Channel Islands, Rest of Europe, and North America. The firm's services include video walls, digital signage network, customer data, and audio solutions. The company was founded on June 11, 2004 and is headquartered in Woking, the United Kingdom

<ul><li>MediaZest PLC (MDZ.L) reported a Trading update for FY September 2025 on 9 December.</li><li>We have published research on this which is attached and a snapshot of the research is below.</li></ul>

MediaZest PLC (MDZ.L) reported a Trading update for FY September 2025 on 9 December.We have published research on this which is attached and a snapshot of the research is below.

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

<ul><li>Since the late 1970s, Apple Inc. has been one of the defining companies of the personal computing and consumer electronics industry.</li><li>Founded in 1976 and incorporated in 1977, Apple initially emerged as a pioneering personal computer manufacturer, but from the early 2000s onwards it transformed into a global platform company spanning hardware, software and services.</li><li>Today it is one of the world’s largest companies by revenue and the second largest by market capitalization, with a current valuation above $4.1tn.</li></ul>

Since the late 1970s, Apple Inc. has been one of the defining companies of the personal computing and consumer electronics industry.Founded in 1976 and incorporated in 1977, Apple initially emerged as a pioneering personal computer manufacturer, but from the early 2000s onwards it transformed into a global platform company spanning hardware, software and services.Today it is one of the world’s largest companies by revenue and the second largest by market capitalization, with a current valuation above $4.1tn.

Company & Stock Analysis: Apple Inc. - November 12, 2025

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Large cap tech keeps the tape in the green, but tape unexciting on low vols</li>
<li>Disco tech briefing gives clues to next-gen dicing and grinding technologies</li>
<li>PC makers locking in memory supplies for next year as margins for DRAM/SSD makers surge</li>
</ul>


Large cap tech keeps the tape in the green, but tape unexciting on low vols
Disco tech briefing gives clues to next-gen dicing and grinding technologies
PC makers locking in memory supplies for next year as margins for DRAM/SSD makers surge


Japan Morning Connection: Xi-Trump Semi-Truce Holds for Now

Technology, Media & Telecom (TMT)
Digital Highway

Qualcomm Acquires Alphawave: The AI War Is Heating Up!

Qualcomm has made headlines with the recent closing of its $2.4 billion acquisition of British semiconductor company Alphawave Semi, a strategic...

Baptista Research

Biren Technology IPO Preview

Biren Technology is getting ready to complete its IPO in Hong Kong on 2 January 2026. The IPO price range is from HK$17.00 to HK$19.6 per share.

Douglas Kim

Hybridan Research: MediaZest plc

MediaZest PLC (MDZ.L) reported a Trading update for FY September 2025 on 9 December. We have published research on this which is attached and a...

Hybridan

Company & Stock Analysis: Apple Inc. - November 12, 2025

Since the late 1970s, Apple Inc. has been one of the defining companies of the personal computing and consumer electronics industry.

VRS (Valuation & Research Specialists)

Japan Morning Connection: Xi-Trump Semi-Truce Holds for Now

Trump holding off additional chip tarrifs on China for now. Disco has room to run on anticipation for new packaging and processing techniques.

Andrew Jackson