Podcast dissecting business, technology & media, Analyse Asia

Analyse Asia with Bernard Leong

Podcast dissecting business, technology & media

Analyse Asia

The premiere weekly podcast dissecting the pulse of business, technology & media in Asia. Hear our host interviewing leading journalists, senior executives, respectable authors & thinkers, entrepreneurs & thought leaders to discuss the most important issues that move and shake the business landscape in the Asia Pacific. The show is originally created and hosted by Bernard Leong.

Equity Bottom-Up

<ul><li>Expansion of Microsoft Research to Singapore as a regional research and development frontier</li><li>Focus on AI research in Singapore, including foundational AI, embodied AI, and AI in health</li><li>Importance of tapping into local talent and culture for AI development</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Expansion of Microsoft Research to Singapore as a regional research and development frontierFocus on AI research in Singapore, including foundational AI, embodied AI, and AI in healthImportance of tapping into local talent and culture for AI developmentThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

How Microsoft Research Balances Exploration and Impact Globally with Doug Burger

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

<ul>
<li>Q425 revenues of $76.4 billion, up 5.5% QoQ, 18% YoY and handily beating guidance of $73.8 billion.</li>
<li>Azure surpassed $75 billion in revenue in FY25, up 34% YoY, driven by growth across all workloads.</li>
<li>Contracted backlog grew by $53 billion QoQ to reach $368 billion. Wow!</li>
</ul>


Q425 revenues of $76.4 billion, up 5.5% QoQ, 18% YoY and handily beating guidance of $73.8 billion.
Azure surpassed $75 billion in revenue in FY25, up 34% YoY, driven by growth across all workloads.
Contracted backlog grew by $53 billion QoQ to reach $368 billion. Wow!


Microsoft FYQ425. Who Says Elephants Can't Dance?

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>Google: increased 2025 Capex ($75bn -&gt; 85bn). Capex will increase in 2026. Higher capex is justified by “strong demand for Cloud products and services“.</li>
<li>Meta: last quarter increased 2025 Capex ($62.5bn -&gt; 68bn). This quarter, more modest $1bn increase to $69bn. Meta expects “another year of similarly significant capital expenditures dollar growth in 2026”.</li>
<li>Microsoft: FY26 Capex growth will moderate compared to FY25 (FY25 Capex increased 58% YoY).</li>
</ul>


Google: increased 2025 Capex ($75bn -&gt; 85bn). Capex will increase in 2026. Higher capex is justified by “strong demand for Cloud products and services“.
Meta: last quarter increased 2025 Capex ($62.5bn -&gt; 68bn). This quarter, more modest $1bn increase to $69bn. Meta expects “another year of similarly significant capital expenditures dollar growth in 2026”.
Microsoft: FY26 Capex growth will moderate compared to FY25 (FY25 Capex increased 58% YoY).


Hyperscalers 2Q25: Revenue Growth Accelerates, Cloud Revenues Accelerate, Capex Higher

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>Magnificent 7 positioning remains elevated across global funds, but momentum has clearly stalled, with recent activity pointing to consolidation rather than renewed conviction buying. </li>
<li>Growth and GARP funds are near fully allocated, while Value and Yield managers remain structurally underweight— potentially limiting the potential for broad-based participation from here. </li>
<li>Microsoft leads with cross-style appeal; Tesla lags with minimal support. Apple is the conviction underweight, while NVIDIA’s benchmark surge has left it at a record active underweight.</li>
</ul>


Magnificent 7 positioning remains elevated across global funds, but momentum has clearly stalled, with recent activity pointing to consolidation rather than renewed conviction buying. 
Growth and GARP funds are near fully allocated, while Value and Yield managers remain structurally underweight— potentially limiting the potential for broad-based participation from here. 
Microsoft leads with cross-style appeal; Tesla lags with minimal support. Apple is the conviction underweight, while NVIDIA’s benchmark surge has left it at a record active underweight.


Magnificent 7:  Global Fund Positioning Update

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>MSFT is set to report Q4 earnings after the market close on Wednesday, July 30.</li>
<li>We examine the implied volatility and projected earnings-day move following a near 30% rally since the last report.</li>
<li>Volatility metrics and historical earnings reactions are analyzed to help frame expectations.</li>
</ul>


MSFT is set to report Q4 earnings after the market close on Wednesday, July 30.
We examine the implied volatility and projected earnings-day move following a near 30% rally since the last report.
Volatility metrics and historical earnings reactions are analyzed to help frame expectations.


MSFT Q4 Earnings: Exceedingly Calm Trading Drags Implied Vol Lower

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

How Microsoft Research Balances Exploration and Impact Globally with Doug Burger

Doug Berger, Microsoft Research Technical Fellow, discusses empowering people, establishing a strong AI research focus in Singapore, and the...

Analyse Asia with Bernard Leong

Microsoft FYQ425. Who Says Elephants Can't Dance?

Contracted backlog grew by $53 billion QoQ to reach $368 billion. Demand continues to outstrip supply and will likely continue to do so through...

William Keating

Hyperscalers 2Q25: Revenue Growth Accelerates, Cloud Revenues Accelerate, Capex Higher

Google, Meta and Microsoft will increase in 2026. Don’t look for complications, some firms have 70-100% market share: Nvidia, TSMC, SK Hynix and...

Nicolas Baratte

Magnificent 7: Global Fund Positioning Update

Positioning in the Magnificent 7 remains near record highs, but momentum is fading as growth funds top out and value remains sidelined.

Steven Holden

MSFT Q4 Earnings: Exceedingly Calm Trading Drags Implied Vol Lower

Despite a nearly 30% rally, MSFT’s volatility setup reflects a rare stretch of subdued trading ahead of a closely watched earnings release.

John Ley

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

How Microsoft Research Balances Exploration and Impact Globally with Doug Burger

Doug Berger, Microsoft Research Technical Fellow, discusses empowering people, establishing a strong AI research focus in Singapore, and the...

Analyse Asia with Bernard Leong

Microsoft FYQ425. Who Says Elephants Can't Dance?

Contracted backlog grew by $53 billion QoQ to reach $368 billion. Demand continues to outstrip supply and will likely continue to do so through...

William Keating

Hyperscalers 2Q25: Revenue Growth Accelerates, Cloud Revenues Accelerate, Capex Higher

​Google, Meta and Microsoft will increase in 2026. Don’t look for complications, some firms have 70-100% market share: Nvidia, TSMC, SK Hynix and...

Nicolas Baratte

Magnificent 7: Global Fund Positioning Update

Positioning in the Magnificent 7 remains near record highs, but momentum is fading as growth funds top out and value remains sidelined.

Steven Holden

MSFT Q4 Earnings: Exceedingly Calm Trading Drags Implied Vol Lower

Despite a nearly 30% rally, MSFT’s volatility setup reflects a rare stretch of subdued trading ahead of a closely watched earnings release.

John Ley

Google, Meta and Microsoft will increase in 2026. Don’t look for complications, some firms have 70-100% market share: Nvidia, TSMC, SK Hynix and...