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

Equity Bottom-Up

<ul>
<li>Earlier this week, at the UBS Global Technology Conference, Intel CFO and co-interim CEO David Zinsner declared that the company's "core strategy remains intact"</li>
<li>Recently onboarded GM of IFS Dr. Naga Chandrasekaran, explained that while 18A remains on track, there are still "many milestones" to be met before it ramps in H225</li>
<li>He also admitted that 18A is more geared towards HPC, is skewed in favour of Intel Products and that 14A will likely be more suitable for the broader semiconductor ecosystem</li>
</ul>


Earlier this week, at the UBS Global Technology Conference, Intel CFO and co-interim CEO David Zinsner declared that the company's "core strategy remains intact"
Recently onboarded GM of IFS Dr. Naga Chandrasekaran, explained that while 18A remains on track, there are still "many milestones" to be met before it ramps in H225
He also admitted that 18A is more geared towards HPC, is skewed in favour of Intel Products and that 14A will likely be more suitable for the broader semiconductor ecosystem


Intel CFO @ UBS Global Technology Conference "Core Strategy Remains Intact"

<ul>
<li>Gelsinger's IDM 2.0 strategy will be up for debate by Intel's BoD. Most likely it will be largely scaled back </li>
<li>The new CEO's options will be limited by the legal agreements in place with Brookfield &amp; Apollo, along with the restrictions imposed by the US DOC </li>
<li>Possible CEO candidates are the current Globalfoundries CEO, Tom Caulfield, former Intel board member Lip-Bu Tan and former Intel executive Stacy Smith, who recently joined Intel's BoD</li>
</ul>


Gelsinger's IDM 2.0 strategy will be up for debate by Intel's BoD. Most likely it will be largely scaled back 
The new CEO's options will be limited by the legal agreements in place with Brookfield &amp; Apollo, along with the restrictions imposed by the US DOC 
Possible CEO candidates are the current Globalfoundries CEO, Tom Caulfield, former Intel board member Lip-Bu Tan and former Intel executive Stacy Smith, who recently joined Intel's BoD


Intel's Next CEO Will Have To Deal With An Unholy Mess. But Who Will It Be?

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.

<ul><li>Intel has been making headlines recently with a series of significant developments that underscore the company’s tumultuous state.</li><li>On December 1, 2024, CEO Pat Gelsinger stepped down after a tenure that saw the company’s stock price plunge by 61%.</li><li>The leadership vacuum was filled by interim co-CEOs, David Zinsner and Michelle Johnston Holthaus, with Intel initiating a global search for a permanent successor.</li></ul>

Intel has been making headlines recently with a series of significant developments that underscore the company’s tumultuous state.On December 1, 2024, CEO Pat Gelsinger stepped down after a tenure that saw the company’s stock price plunge by 61%.The leadership vacuum was filled by interim co-CEOs, David Zinsner and Michelle Johnston Holthaus, with Intel initiating a global search for a permanent successor.

Is Intel Doomed Without Patrick Gelsinger? The Challenges Facing Its New CEO!

<ul>
<li>No stated reason for Mr. Gelsinger's shock resignation as Intel's CEO. </li>
<li>CFO and CCG leaders named as interim co-CEO's with the latter also assuming a newly created role as CEO of Intel's Products (CCG, DCAI &amp; NEX)</li>
<li>It's the beginning of the end for Intel as we used to know it</li>
</ul>


No stated reason for Mr. Gelsinger's shock resignation as Intel's CEO. 
CFO and CCG leaders named as interim co-CEO's with the latter also assuming a newly created role as CEO of Intel's Products (CCG, DCAI &amp; NEX)
It's the beginning of the end for Intel as we used to know it


Intel CEO Shock Resignation. What's Going On?

Technology / Semiconductor / Internet Research

Nicolas Baratte

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Samsung Semiconductor re-org, new reporting lines, top management promotions and demotions, but the same people. That's going to solve problems? Qualcomm gives up on buying Intel - good idea. </li>
<li>Xiaomi to launch its smartphone chip, but what for? Intel launching a PC GPU again . Apple delays or abandons 2nm for M5 chip (too expensive). TSMC increasing CoWoS again. </li>
<li>China - US worsening relations, side effect is over buying, over stocking of semiconductors? is there a bunch of inventories in China that we can't see?  </li>
</ul>


Samsung Semiconductor re-org, new reporting lines, top management promotions and demotions, but the same people. That's going to solve problems? Qualcomm gives up on buying Intel - good idea. 
Xiaomi to launch its smartphone chip, but what for? Intel launching a PC GPU again . Apple delays or abandons 2nm for M5 chip (too expensive). TSMC increasing CoWoS again. 
China - US worsening relations, side effect is over buying, over stocking of semiconductors? is there a bunch of inventories in China that we can't see?  


Tech News This Week: Samsung Re-Org, QCOM Gives up on Intel, TSMC Increase CoWoS, Apple Delays 2nm

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

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Intel Corp (INTC US)

Intel CFO @ UBS Global Technology Conference "Core Strategy Remains Intact"

Core strategy remains intact. 18A on track but many milestones to go before ramp in H225, it's more geared towards HPC & its PDK is skewed towards...

William Keating

Intel's Next CEO Will Have To Deal With An Unholy Mess. But Who Will It Be?

Intel faces existential decisions on its future. Stick with IDM 2.0? Scrap it? Scale it back? Spin out IFS? Exit SCIP deals? Mothball new fabs that...

William Keating

Is Intel Doomed Without Patrick Gelsinger? The Challenges Facing Its New CEO!

Intel has been making headlines recently with a series of significant developments that underscore the company’s tumultuous state. On December 1,...

Baptista Research

Intel CEO Shock Resignation. What's Going On?

CEO Gelsinger's gone with no reason given. Use your imagination. CFO & CCG leaders named as interim co-CEO's. Strong emphasis on Intel products...

William Keating

Tech News This Week: Samsung Re-Org, QCOM Gives up on Intel, TSMC Increase CoWoS, Apple Delays 2nm

Samsung re-orgs, Qualcomm backs off from Intel purchase, Xiaomi enters chip market, Intel introduces PC GPU, Apple delays 2nm for M5, TSMC boosts...

Nicolas Baratte

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52-week Range

Market Cap (USDm)

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Intel CFO @ UBS Global Technology Conference "Core Strategy Remains Intact"

Core strategy remains intact. 18A on track but many milestones to go before ramp in H225, it's more geared towards HPC & its PDK is skewed towards...

William Keating

Intel's Next CEO Will Have To Deal With An Unholy Mess. But Who Will It Be?

Intel faces existential decisions on its future. Stick with IDM 2.0? Scrap it? Scale it back? Spin out IFS? Exit SCIP deals? Mothball new fabs that...

William Keating

Is Intel Doomed Without Patrick Gelsinger? The Challenges Facing Its New CEO!

Intel has been making headlines recently with a series of significant developments that underscore the company’s tumultuous state. On December 1,...

Baptista Research

Intel CEO Shock Resignation. What's Going On?

CEO Gelsinger's gone with no reason given. Use your imagination. CFO & CCG leaders named as interim co-CEO's. Strong emphasis on Intel products...

William Keating

Tech News This Week: Samsung Re-Org, QCOM Gives up on Intel, TSMC Increase CoWoS, Apple Delays 2nm

​Samsung re-orgs, Qualcomm backs off from Intel purchase, Xiaomi enters chip market, Intel introduces PC GPU, Apple delays 2nm for M5, TSMC boosts...

Nicolas Baratte

Samsung re-orgs, Qualcomm backs off from Intel purchase, Xiaomi enters chip market, Intel introduces PC GPU, Apple delays 2nm for M5, TSMC boosts...