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>Corning Incorporated is increasingly finding itself at the center of one of the biggest infrastructure buildouts of the AI era.</li><li>AT&T’s new $3 billion multi-year agreement with Corning for fiber and cable is the latest in a growing series of major commitments involving some of the largest technology and telecom companies in the world.</li><li>Verizon recently reached its own multi-billion-dollar agreement with Corning, while Meta, Amazon and Nvidia have also entered significant partnerships tied to optical connectivity and AI infrastructure.</li></ul>

Corning Incorporated is increasingly finding itself at the center of one of the biggest infrastructure buildouts of the AI era.AT&T’s new $3 billion multi-year agreement with Corning for fiber and cable is the latest in a growing series of major commitments involving some of the largest technology and telecom companies in the world.Verizon recently reached its own multi-billion-dollar agreement with Corning, while Meta, Amazon and Nvidia have also entered significant partnerships tied to optical connectivity and AI infrastructure.

Corning Just Added A $3 Billion AT&T Deal — Why Wall Street Is Watching Its AI Fiber Boom!

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul>
<li>The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant.</li>
<li>
<p>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</p>
</li>
<li>
<p>Previous portfolio returned -3.5% vs. MSCI World (-1.3%) – underperformed the benchmark by</p>
</li>
</ul>


The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant.

By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.


Previous portfolio returned -3.5% vs. MSCI World (-1.3%) – underperformed the benchmark by



Global Top Fund Managers (Shariah) Portfolio (14-Sep-2026)

<ul><li>Corning Incorporated reported strong financial results for the second quarter of 2026, reflecting solid progress against its strategic Springboard growth plan.</li><li>The company delivered 17% year-over-year sales growth to $4.74 billion and a 30% increase in earnings per share to $0.78, supported by expanded gross margin up 120 basis points to 39.6%, and operating margin growth of 190 basis points to 20.9%.</li><li>Return on invested capital improved to 14.9%, while free cash flow rose to $1.42 billion, reinforcing a robust financial position.</li></ul>

Corning Incorporated reported strong financial results for the second quarter of 2026, reflecting solid progress against its strategic Springboard growth plan.The company delivered 17% year-over-year sales growth to $4.74 billion and a 30% increase in earnings per share to $0.78, supported by expanded gross margin up 120 basis points to 39.6%, and operating margin growth of 190 basis points to 20.9%.Return on invested capital improved to 14.9%, while free cash flow rose to $1.42 billion, reinforcing a robust financial position.

Corning Teams With NVIDIA, Meta, Amazon & Apple — AI Demand Accelerates!

Independent Fund Manager, Swaen Capital

Swaen Capital

Independent Fund Manager

Swaen Capital is a Singapore based licensed independent fund manager with an open architecture, a non bias financial platform creating access to the best custodians and investment managers. Our focus lies within the wealth management business, covering client relationships, financial planning, advisory, as well as discretionary portfolio management. We have developed strategic alliances with other leading independent firms to complement and extend our offerings to clients (global hedge fund research capability, alternative investment offerings, corporate finance, fund structuring & administration, etc). Our know-how, extensive global network and long standing presence in Asia allows us to provide a global footprint and at the same time enables us to capitalize on regional opportunities.

Thematic (Sector/Industry)

<ul>
<li>The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and signal-integrity penalties. The industry's answer is to move the optics off the faceplate and onto the chip package itself — Co Packaged Optics (CPO).</li>
<li>Adoption is switch-first. NVIDIA and Broadcom are shipping CPO switches in 2026 on external-laser designs; the XPU side and an in-package laser are deferred by packaging and reliability limits, not yet solved.</li>
<li>Money moves with the architecture. As the optical engine moves into the package, value migrates away from module assemblers toward the layers that fabricate the optical engine itself.</li>
</ul>


The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and signal-integrity penalties. The industry's answer is to move the optics off the faceplate and onto the chip package itself — Co Packaged Optics (CPO).
Adoption is switch-first. NVIDIA and Broadcom are shipping CPO switches in 2026 on external-laser designs; the XPU side and an in-package laser are deferred by packaging and reliability limits, not yet solved.
Money moves with the architecture. As the optical engine moves into the package, value migrates away from module assemblers toward the layers that fabricate the optical engine itself.


Co-Packaged Optics 101: The Future of High-Density AI Interconnects

<ul><li>Corning Incorporated has suddenly become one of the least obvious names in the artificial intelligence infrastructure race.</li><li>While most AI attention remains fixed on Nvidia chips, cloud platforms, and large language models, the buildout of massive data centers also requires something more physical: fiber, cable, and connectivity systems that move data across AI networks at extreme scale.</li><li>That is where Corning’s story has become more interesting.</li></ul>

Corning Incorporated has suddenly become one of the least obvious names in the artificial intelligence infrastructure race.While most AI attention remains fixed on Nvidia chips, cloud platforms, and large language models, the buildout of massive data centers also requires something more physical: fiber, cable, and connectivity systems that move data across AI networks at extreme scale.That is where Corning’s story has become more interesting.

Corning: How This 175-Year-Old Glass Giant Quietly Powering The AI Boom!

United States

Corning Incorporated is a global, technology-based company. The Company produces optical fiber, cable, and photonic components for the telecommunications industry, as well as manufactures glass panels, funnels, liquid crystal display glass and projection video lens assemblies for the information display industry.

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Corning Inc (GLW US)

Corning Just Added A $3 Billion AT&T Deal — Why Wall Street Is Watching Its AI Fiber Boom!

Corning Incorporated is increasingly finding itself at the center of one of the biggest infrastructure buildouts of the AI era. AT&T’s new $3...

Baptista Research

Global Top Fund Managers (Shariah) Portfolio (14-Sep-2026)

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant. By...

Crea8

Corning Teams With NVIDIA, Meta, Amazon & Apple — AI Demand Accelerates!

Corning Incorporated reported strong financial results for the second quarter of 2026, reflecting solid progress against its strategic Springboard...

Baptista Research

Co-Packaged Optics 101: The Future of High-Density AI Interconnects

The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and...

Swaen Capital

Corning: How This 175-Year-Old Glass Giant Quietly Powering The AI Boom!

Corning Incorporated has suddenly become one of the least obvious names in the artificial intelligence infrastructure race. While most AI...

Baptista Research

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