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

<ul><li>According to the latest Q1 earnings, Apple Inc.</li><li>showcased an upward trajectory with revenue reaching $119.6 billion for the December quarter - a 2% increase from a year ago.</li><li>The electronics giant reached revenue records in more than two dozen countries and regions, with substantial growth in many emerging markets.</li></ul>

According to the latest Q1 earnings, Apple Inc.showcased an upward trajectory with revenue reaching $119.6 billion for the December quarter - a 2% increase from a year ago.The electronics giant reached revenue records in more than two dozen countries and regions, with substantial growth in many emerging markets.

Apple Inc.: An Impressive 2024 Lineup But What Does It Mean For Shareholders? - Major Drivers

Independent Research, US Dominant Players, Investment Talk

Investment Talk

Independent Research, US Dominant Players

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

<ul><li>The world does not need another opinion on the Vision Pro, the Apple mixed reality device whose launch coincided with Meta earnings, but I will share mine so I can understand my thought process in the future.</li><li>I have the right to be wrong. The revenue share of Meta’s FRL is so small it might seem redundant to give it so much limelight.</li><li>But, directionally, it’s an important category for the company. With a launch of this scale, the hyperbole and sensationalism rhyme with things we’ve seen in decades past.</li></ul>

The world does not need another opinion on the Vision Pro, the Apple mixed reality device whose launch coincided with Meta earnings, but I will share mine so I can understand my thought process in the future.I have the right to be wrong. The revenue share of Meta’s FRL is so small it might seem redundant to give it so much limelight.But, directionally, it’s an important category for the company. With a launch of this scale, the hyperbole and sensationalism rhyme with things we’ve seen in decades past.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amer-sports-inc" target="_blank" data-smartkarma-citation="entities:21751:1" rel="noopener">Amer Sports (AS US)</a> raised around US$1.3bn in its US IPO, after pricing its IPO below its initial range, as per media reports.</li>
<li>Amer Sports is a sports and outdoor brands company making clothing and other sporting equipment for use in snow sports, running, climbing, baseball, american football, tennis and other sports.</li>
<li>We have looked at the company’s performance and valuation in our past note. In this note, we talk about the trading dynamics.</li>
</ul>



Amer Sports (AS US) raised around US$1.3bn in its US IPO, after pricing its IPO below its initial range, as per media reports.
Amer Sports is a sports and outdoor brands company making clothing and other sporting equipment for use in snow sports, running, climbing, baseball, american football, tennis and other sports.
We have looked at the company’s performance and valuation in our past note. In this note, we talk about the trading dynamics.


Amer Sports IPO Trading - Downsized and Cornered, Close to Optimistic Fair Value

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points (machine generated)<ul><li>The litigation industry is filing lawsuits against companies that manufacture consumer headphones, including major players like Apple, Bose, and Skullcandy.</li><li>The company in focus has filed lawsuits against several headphone manufacturers and has settled with Apple and Plantronics, earning around $11.0 million in net proceeds.</li><li>Despite being in a declining industry, the company is currently trading as a net-net and has hidden asset value, suggesting potential upside value of up to 75%, with a downside value only slightly lower than its current levels.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)The litigation industry is filing lawsuits against companies that manufacture consumer headphones, including major players like Apple, Bose, and Skullcandy.The company in focus has filed lawsuits against several headphone manufacturers and has settled with Apple and Plantronics, earning around $11.0 million in net proceeds.Despite being in a declining industry, the company is currently trading as a net-net and has hidden asset value, suggesting potential upside value of up to 75%, with a downside value only slightly lower than its current levels.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

<ul>
<li>Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.</li>
<li>Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.</li>
<li>Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.</li>
</ul>


Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.
Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.
Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.


China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

United States

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.

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Apple (AAPL US)

Apple Inc.: An Impressive 2024 Lineup But What Does It Mean For Shareholders? - Major Drivers

According to the latest Q1 earnings, Apple Inc. showcased an upward trajectory with revenue reaching $119.6 billion for the December quarter - a...

Baptista Research

The Reality of Mixed Reality

I have the right to be wrong. The revenue share of Meta’s FRL is so small it might seem redundant to give it so much limelight.

Investment Talk

Amer Sports IPO Trading - Downsized and Cornered, Close to Optimistic Fair Value

Amer Sports (AS US) raised around US$1.3bn in its US IPO, after pricing its IPO below its initial range, as per media reports.

Sumeet Singh

Koss Corp (KOSS) - Tuesday, Oct 31, 2023

The litigation industry is filing lawsuits against companies that manufacture consumer headphones, including major players like Apple, Bose, and...

Value Investors Club (VIC)

China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023. Huawei shipment increased by 36% YoY in 4Q23. The...

Ming Lu

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