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>Astera Labs delivered strong third-quarter results for fiscal year 2025, surpassing their expectations with a notable increase in revenue and profitability metrics.</li><li>The company's quarterly revenue reached $230.6 million, marking a 20% increase from the previous quarter and a remarkable 104% growth compared to the same period last year.</li><li>This significant growth was driven by broad-based performance across its product lines, including signal conditioning, smart cable modules, and switch fabrics.</li></ul>

Astera Labs delivered strong third-quarter results for fiscal year 2025, surpassing their expectations with a notable increase in revenue and profitability metrics.The company's quarterly revenue reached $230.6 million, marking a 20% increase from the previous quarter and a remarkable 104% growth compared to the same period last year.This significant growth was driven by broad-based performance across its product lines, including signal conditioning, smart cable modules, and switch fabrics.

Astera Labs: What Scorpio X Reveals About Its Bold Diversification Strategy!

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Charter Communications  / Index Rebalance

<ul>
<li>The Nasdaq 100 index tracks the 100 largest names listed on the Nasdaq Stock Exchange.</li>
<li>In this insight, we have presented our final expectations for ADDs and DELs for the upcoming June 2026 index rebal event.</li>
<li>We expect over US$9.4bn one-way flows for Nasdaq 100 during the June 2026 index rebal event.</li>
</ul>


The Nasdaq 100 index tracks the 100 largest names listed on the Nasdaq Stock Exchange.
In this insight, we have presented our final expectations for ADDs and DELs for the upcoming June 2026 index rebal event.
We expect over US$9.4bn one-way flows for Nasdaq 100 during the June 2026 index rebal event.


Quiddity Leaderboard Nasdaq100 Jun26 Rebal: Final Expectations

<ul><li>Astera Labs, in its second quarter of fiscal year 2025, showcased robust financial performance and strategic advancement in its market positioning.</li><li>The company reported revenue of $191.9 million, reflecting a 20% increase from the previous quarter and a notable 150% year-over-year rise.</li><li>This substantial revenue growth was attributed to increased demand in both its signal conditioning and switch fabric product lines, notably with the Scorpio P-Series switches.</li></ul>

Astera Labs, in its second quarter of fiscal year 2025, showcased robust financial performance and strategic advancement in its market positioning.The company reported revenue of $191.9 million, reflecting a 20% increase from the previous quarter and a notable 150% year-over-year rise.This substantial revenue growth was attributed to increased demand in both its signal conditioning and switch fabric product lines, notably with the Scorpio P-Series switches.

Astera Labs: Initiation of Coverage -Taurus & Aries Product Diversification As a Key Growth Strategy!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Short-Term supports on SPX include 6480-6520, 6450, 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059; buy pullbacks</li>
<li>The list of areas re-emerging as leadership has meaningfully expanded to include ARKK, ARKW, uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), and other themes including IPOs/A.I./nuclear/robotics/drones/autonomous driving/bitcoin</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Short-Term supports on SPX include 6480-6520, 6450, 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059; buy pullbacks
The list of areas re-emerging as leadership has meaningfully expanded to include ARKK, ARKW, uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), and other themes including IPOs/A.I./nuclear/robotics/drones/autonomous driving/bitcoin


High Growth Areas Re-Emerging as Leadership; Remain Overweight Growth; Bullish Outlook Intact

Podcast from BlackRock, The Bid

The Bid

Podcast from BlackRock

The Bid breaks down what’s happening in the world of investing and explores the forces changing the economy and finance. From stock market outlooks and megatrends to geopolitics and technology, BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

Thematic (Sector/Industry)

<ul><li>Tony and Michael, portfolio managers at BlackRock, reflect on their recent tech tour in San Francisco and Silicon Valley, highlighting the rapid progress and efficiencies AI is creating.</li><li>AI has evolved from chatbots to super intelligence, with companies now exploring AI applications in various sectors of the market.</li><li>Investment opportunities in AI are primarily focused on infrastructure, but opportunities are expanding across different layers of the technology stack.</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>

Tony and Michael, portfolio managers at BlackRock, reflect on their recent tech tour in San Francisco and Silicon Valley, highlighting the rapid progress and efficiencies AI is creating.AI has evolved from chatbots to super intelligence, with companies now exploring AI applications in various sectors of the market.Investment opportunities in AI are primarily focused on infrastructure, but opportunities are expanding across different layers of the technology stack.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

230: AI At The Frontier: A Stock Picker's Take on AI Investing

United States

Astera Labs, Inc. provides semiconductor-based connectivity solutions. The Company develops and deploys intelligent connectivity platforms built for cloud and AI infrastructure. Astera Labs serves customers in the United States, Canada, China, Taiwan, and Israel.

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Astera Labs (ALAB US)

Astera Labs: What Scorpio X Reveals About Its Bold Diversification Strategy!

Astera Labs delivered strong third-quarter results for fiscal year 2025, surpassing their expectations with a notable increase in revenue and...

Baptista Research

Quiddity Leaderboard Nasdaq100 Jun26 Rebal: Final Expectations

First Nasdaq 100 quarterly rebal under the new rules: five DELs, five ADDs, and ~US$9.4bn of one-way flow expected in June 2026.

Anjana Amarasuriya

Astera Labs: Initiation of Coverage -Taurus & Aries Product Diversification As a Key Growth Strategy!

Astera Labs, in its second quarter of fiscal year 2025, showcased robust financial performance and strategic advancement in its market...

Baptista Research

High Growth Areas Re-Emerging as Leadership; Remain Overweight Growth; Bullish Outlook Intact

High Growth Areas Re-Emerging as Leadership; Remain Overweight Growth; Bullish Outlook Intact on $SPX $QQQ $IWM. $ARKK $URA $HYDR $IONQ $OKLO $BBAI...

Vermilion Research

230: AI At The Frontier: A Stock Picker's Take on AI Investing

Tony and Michael, portfolio managers at BlackRock, reflect on their recent tech tour in San Francisco and Silicon Valley, highlighting the rapid...

The Bid

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