Technology / Semiconductor / Internet Research

Nicolas Baratte

Equity Bottom-Up

<ul>
<li>Companies exude confidence and unanimously explain that AI is the fastest growing revenue segment ever.  AI leads to revenue growth, increase in volume, higher pricing, higher engagement. </li>
<li>Companies also explain that AI today only reflects a small part of long-term planning. AI is a decade long transformation of how we work, search for information or buy products.  </li>
<li>Meta and Microsoft see equipment delays and are capacity constrained in 2024. Capex will increase in 2025. </li>
</ul>


Companies exude confidence and unanimously explain that AI is the fastest growing revenue segment ever.  AI leads to revenue growth, increase in volume, higher pricing, higher engagement. 
Companies also explain that AI today only reflects a small part of long-term planning. AI is a decade long transformation of how we work, search for information or buy products.  
Meta and Microsoft see equipment delays and are capacity constrained in 2024. Capex will increase in 2025. 


Google, Meta, Microsoft: What Did They Say About AI, Capex and Revenues?

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Cross Asset Strategy

<ul><li>Stock market dominated by big tech companies, increasing importance of tech companies in equity market</li><li>S&amp;P 500 becoming more like the Nasdaq due to tech dominance</li><li>Tech companies moving towards project-based financing and increasing interest in credit market, with potential for substantial returns in opportunistic credit opportunities</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>

Stock market dominated by big tech companies, increasing importance of tech companies in equity marketS&amp;P 500 becoming more like the Nasdaq due to tech dominanceTech companies moving towards project-based financing and increasing interest in credit market, with potential for substantial returns in opportunistic credit opportunitiesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Apollo Explains How Big Tech Is Disrupting Credit Markets

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>BABA US/PDD US/JD US/VIPS US: Tmall shares recent growth figures and Double 11 initiatives (+/-/-/-)</li>
<li>BABA US/PDD US/SHEIN/4385 JP/4689 JP: AliExpress and Cainiao expand 5-day delivery to three additional countries including Japan (+/-/-)</li>
<li>BABA US/JD US/PDD US: Alibaba launches upgraded AI-based store management tool (+/-/-)</li>
</ul>


BABA US/PDD US/JD US/VIPS US: Tmall shares recent growth figures and Double 11 initiatives (+/-/-/-)
BABA US/PDD US/SHEIN/4385 JP/4689 JP: AliExpress and Cainiao expand 5-day delivery to three additional countries including Japan (+/-/-)
BABA US/JD US/PDD US: Alibaba launches upgraded AI-based store management tool (+/-/-)


[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/VIPS US/4385JP/4689JP/NTES US/MSFT US/BIDU/700HK

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Microsoft is projected to report an EPS of $3.10 for Q1 FY2025, reflecting a year-over-year increase, highlighting consistent growth amid evolving market dynamics.</li>
<li>With a quarterly dividend increase of 10% and a $60 billion share repurchase program approved, Microsoft aims to enhance shareholder value while navigating competitive pressures.</li>
<li>Amid concerns of slowing AI adoption, analysts are divided on Microsoft's outlook, balancing high expectations against rising expenses, especially with its significant investments in AI and cloud infrastructure.</li>
</ul>


Microsoft is projected to report an EPS of $3.10 for Q1 FY2025, reflecting a year-over-year increase, highlighting consistent growth amid evolving market dynamics.
With a quarterly dividend increase of 10% and a $60 billion share repurchase program approved, Microsoft aims to enhance shareholder value while navigating competitive pressures.
Amid concerns of slowing AI adoption, analysts are divided on Microsoft's outlook, balancing high expectations against rising expenses, especially with its significant investments in AI and cloud infrastructure.


Microsoft Eyes Strong Q1 FY2025 Earnings: Will AI Innovations Drive Performance?

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

Cerebras Systems  / Equity Capital Markets

<ul>
<li>Cerebras Systems, a fast-growing maker of wafer-scale AI chips, which power the world’s largest supercomputers, will reveal IPO terms soon.</li>
<li>Given the company’s hyper-growth trajectory, $1B+ deal with UAE’s G42 and unique architecture, I expect Cerebras Systems is likely to get a premium valuation.  </li>
<li>The AI company plans to raise up to $1B while selling stockholders will offer additional Class A shares in this IPO.</li>
</ul>


Cerebras Systems, a fast-growing maker of wafer-scale AI chips, which power the world’s largest supercomputers, will reveal IPO terms soon.
Given the company’s hyper-growth trajectory, $1B+ deal with UAE’s G42 and unique architecture, I expect Cerebras Systems is likely to get a premium valuation.  
The AI company plans to raise up to $1B while selling stockholders will offer additional Class A shares in this IPO.


Cerebras IPO Valuation Analysis: A Sky-High Valuation Will Not Last For Long

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)

Google, Meta, Microsoft: What Did They Say About AI, Capex and Revenues?

Is AI really increasing revenues, profitability? There is still considerable doubt within the investors community on the "reality" of AI, or its...

Nicolas Baratte

Apollo Explains How Big Tech Is Disrupting Credit Markets

Tech companies dominate the stock market, making up 30% of the S&P 500, leading to an increased importance of opportunistic credit investments in...

Odd Lots

[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/VIPS US/4385JP/4689JP/NTES US/MSFT US/BIDU/700HK

Alibaba's Tmall reports growth, expands delivery services, and launches AI-based store management tool.NetEase's Mobile Game Announces Shutdown

Blue Lotus Research Institute

Microsoft Eyes Strong Q1 FY2025 Earnings: Will AI Innovations Drive Performance?

As Microsoft prepares to unveil its Q1 FY2025 earnings on October 22, investors anticipate robust results bolstered by AI advancements, cloud...

Mint Finance

Cerebras IPO Valuation Analysis: A Sky-High Valuation Will Not Last For Long

In my follow-up piece, I discuss Cerebras Systems valuation analysis, including peers, multiples and the company’s revenues forecast for 2024 and...

Andrei Zakharov

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52-week Range

Market Cap (USDm)

P/E

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Google, Meta, Microsoft: What Did They Say About AI, Capex and Revenues?

Is AI really increasing revenues, profitability? There is still considerable doubt within the investors community on the "reality" of AI, or its...

Nicolas Baratte

Apollo Explains How Big Tech Is Disrupting Credit Markets

Tech companies dominate the stock market, making up 30% of the S&P 500, leading to an increased importance of opportunistic credit investments in...

Odd Lots

[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/VIPS US/4385JP/4689JP/NTES US/MSFT US/BIDU/700HK

​Alibaba's Tmall reports growth, expands delivery services, and launches AI-based store management tool.NetEase's Mobile Game Announces Shutdown

Blue Lotus Research Institute

Microsoft Eyes Strong Q1 FY2025 Earnings: Will AI Innovations Drive Performance?

As Microsoft prepares to unveil its Q1 FY2025 earnings on October 22, investors anticipate robust results bolstered by AI advancements, cloud...

Mint Finance

Cerebras IPO Valuation Analysis: A Sky-High Valuation Will Not Last For Long

In my follow-up piece, I discuss Cerebras Systems valuation analysis, including peers, multiples and the company’s revenues forecast for 2024 and...

Andrei Zakharov

Alibaba's Tmall reports growth, expands delivery services, and launches AI-based store management tool.NetEase's Mobile Game Announces Shutdown