Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Thematic (Sector/Industry)

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

5G considerations have moved to centre stage for operators, vendors, policy makers and regulators globally in recent months as technology roadmaps become clearer. Distinct regional roadmaps are emerging, with network densification a key differentiator between markets. We view dense networks as a key enabler for 5G to succeed. On that basis, China, Japan, and South Korea already operating widespread dense wireless networks today giving them a low-cost route for the further spread of small cells…

5G considerations have moved to centre stage for operators, vendors, policy makers and regulators globally in recent months as technology roadmaps become clearer. Distinct regional roadmaps are emerging, with network densification a key differentiator between markets. We view dense networks as a key enabler for 5G to succeed. On that basis, China, Japan, and South Korea already operating widespread dense wireless networks today giving them a low-cost route for the further spread of small cells…

5G: Will Enhanced TD-LTE Become a Stepping Stone to 5G?

Asia and Global Semiconductor and Tech Research

Andrew Lu

<ul><li>The proliferation of IoT: With over 25% 5-year CAGR for IoT devices shipment and wafer foundry market but a very fragmented vendors list, we identify legacy foundry, 4G/5G fabless, and legacy OSAT vendors can be benefited the most on this IoT theme. A big cloud data analysis will benefit memory and datacenter vendors. </li><li>Low power wireless connection needed: The IoT device will mostly use a low-power wireless connection like 3G / 4G / 5G, WiFi HaLow, LoRaWAN, Narrow-band IoT, ZigBee, Z-wave, Thread, and Bluetooth smart with a cost less than US$2 per wireless chip and a less data transfer rate of 250kbps.  </li><li>Lots sensors needed: The global sensor market is forecast to grow from $80bn in 2014 to $116bn by 2019. IoT sensors require lower power consumption, smaller in size, and lighter in weight than traditional sensors.</li><li>IoT everywhere: The IoT data analysis will help to boost productivity for applications like smart industrial production, home, hospital, transportation, agriculture, weather /air/water pollution monitoring, security, national defense, infrastructure, logistics, banking insurance, oil, mining, and food production. </li><li>Consolidation or partnership is needed: We believe each IoT application will require relevant hardware, software, and semiconductor vendors to collaborate through cross-industry consolidation or partnership. An example was Qualcomm recently announced the purchase of NXP for US$37.9bn. </li></ul>

The proliferation of IoT: With over 25% 5-year CAGR for IoT devices shipment and wafer foundry market but a very fragmented vendors list, we identify legacy foundry, 4G/5G fabless, and legacy OSAT vendors can be benefited the most on this IoT theme. A big cloud data analysis will benefit memory and datacenter vendors. Low power wireless connection needed: The IoT device will mostly use a low-power wireless connection like 3G / 4G / 5G, WiFi HaLow, LoRaWAN, Narrow-band IoT, ZigBee, Z-wave, Thread, and Bluetooth smart with a cost less than US$2 per wireless chip and a less data transfer rate of 250kbps.  Lots sensors needed: The global sensor market is forecast to grow from $80bn in 2014 to $116bn by 2019. IoT sensors require lower power consumption, smaller in size, and lighter in weight than traditional sensors.IoT everywhere: The IoT data analysis will help to boost productivity for applications like smart industrial production, home, hospital, transportation, agriculture, weather /air/water pollution monitoring, security, national defense, infrastructure, logistics, banking insurance, oil, mining, and food production. Consolidation or partnership is needed: We believe each IoT application will require relevant hardware, software, and semiconductor vendors to collaborate through cross-industry consolidation or partnership. An example was Qualcomm recently announced the purchase of NXP for US$37.9bn. 

With markets trying to make sense of the election of President Trump, we have looked at the implications on the stocks we cover globally (the implications really are global).   There are two versions of Trump’s America: one in which he attempts to lead like a CEO, and one in which he attempts to rule like a demagogue.  We have no idea which one will come to pass (we really don’t) but the market implications of each are quite different.   In either case, with Trump promising $1tr in infrastructure…

With markets trying to make sense of the election of President Trump, we have looked at the implications on the stocks we cover globally (the implications really are global).   There are two versions of Trump’s America: one in which he attempts to lead like a CEO, and one in which he attempts to rule like a demagogue.  We have no idea which one will come to pass (we really don’t) but the market implications of each are quite different.   In either case, with Trump promising $1tr in infrastructure…

Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

As the dust settles after the US presidential election, we look at the medium-term investment implications of a Trump presidency for technology stocks.The biggest benefit to the US tech sector will come from lower tax rates. The biggest risk is trade wars that result in higher tariffs and retaliation against US tech companies. The wildcard is regulation: net neutrality rules – if relaxed – could shift the balance of power from internet companies to telcos.Below we look at five themes emanating from Mr Trump's policies that have a direct impact on the global tech sector: taxation, trade, regulation, cybersecurity and social media.

As the dust settles after the US presidential election, we look at the medium-term investment implications of a Trump presidency for technology stocks.The biggest benefit to the US tech sector will come from lower tax rates. The biggest risk is trade wars that result in higher tariffs and retaliation against US tech companies. The wildcard is regulation: net neutrality rules – if relaxed – could shift the balance of power from internet companies to telcos.Below we look at five themes emanating from Mr Trump's policies that have a direct impact on the global tech sector: taxation, trade, regulation, cybersecurity and social media.

Germany

Deutsche Telekom AG offers telecommunications services.  The Company offers a full range of fixed-line telephone services, mobile communications services, Internet access, and combined information technology and telecommunications services for businesses.

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