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>Dell reported Q1 FY27 revenue of $43.84 billion, +88% YoY, -31% QoQ, in line with normal Q4-to-Q1 seasonality. Oh and it was also $8.6 billion above Dell’s guided midpoint</li>
<li>Q2FY27 revenue guided for $44.5 billion at the midpoint, +49% YoY. Full-year FY27 revenue expected midpoint of $167.0 billion, +47% YoY</li>
<li>Full-Year AI-Optimized Servers revenue expected to be roughly $60 billion, up 144% year over year</li>
</ul>


Dell reported Q1 FY27 revenue of $43.84 billion, +88% YoY, -31% QoQ, in line with normal Q4-to-Q1 seasonality. Oh and it was also $8.6 billion above Dell’s guided midpoint
Q2FY27 revenue guided for $44.5 billion at the midpoint, +49% YoY. Full-year FY27 revenue expected midpoint of $167.0 billion, +47% YoY
Full-Year AI-Optimized Servers revenue expected to be roughly $60 billion, up 144% year over year


Dell’s Q127. Soaring After Hours On Massive AI Server Driven Beat & Raise

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 themes that are driving returns globally.</li><li>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.</li><li>Previous portfolio returned -9.8% vs. MSCI World (-1.3%) – underperformed the benchmark by -8.5%.</li></ul>

The strategy seeks to invest in themes that are driving returns globally.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 -9.8% vs. MSCI World (-1.3%) – underperformed the benchmark by -8.5%.

<ul><li>The strategy seeks to invest in companies with superior sustainability features/initiatives.</li><li>These companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG; 3) included as their business models may not only benefit from but also may drive long-term sustainability outcomes; and 4) committed to generating positive, measurable and additional sustainability outcomes.</li><li>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.</li></ul>

The strategy seeks to invest in companies with superior sustainability features/initiatives.These companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG; 3) included as their business models may not only benefit from but also may drive long-term sustainability outcomes; and 4) committed to generating positive, measurable and additional sustainability outcomes.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.

Global Sustainability Portfolio (14-Sep-2026)

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul>
<li>There are significant deposits at banks in the US, near all time high levels, at USD17.9 trillion in the most recent week's data</li>
<li>With lower interest rates, there is less propensity to save in bank deposits, we are seeing this well with Jumbo Time Deposits</li>
<li>Against a volatile stock market it is worth keeping in mind, the incredibly high level of deposits at US banks</li>
</ul>


There are significant deposits at banks in the US, near all time high levels, at USD17.9 trillion in the most recent week's data
With lower interest rates, there is less propensity to save in bank deposits, we are seeing this well with Jumbo Time Deposits
Against a volatile stock market it is worth keeping in mind, the incredibly high level of deposits at US banks


US Stock Market - Deposits of USD17,948billion Sit in US Banks. Potential Flow to Markets.

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Taiwan Tech Stocks Rally, But Lag Nvidia's Massive Rally; Prepare for Nvidia, Dell, HP Results Next Week</li>
<li>Hon Hai &amp; Zhen Ding Show No Major AI Slowdown; Taiwan AI Supply Chain Names Lag Nvidia's Rebound </li>
<li>TSMC Foundry 2.0: Strategic Shift Or Brand Tinkering? Why It Is Significant</li>
</ul>


Taiwan Tech Stocks Rally, But Lag Nvidia's Massive Rally; Prepare for Nvidia, Dell, HP Results Next Week
Hon Hai &amp; Zhen Ding Show No Major AI Slowdown; Taiwan AI Supply Chain Names Lag Nvidia's Rebound 
TSMC Foundry 2.0: Strategic Shift Or Brand Tinkering? Why It Is Significant


Taiwan Tech Weekly: Taiwan Rebound Lagging Nvidia; Why TSMC's 'Foundry 2.0' Is Significant

United States

Dell Technologies Inc. provides computer products. The Company offers laptops, desktops, tablets, workstations, servers, monitors, printers, gateways, software, storage, and networking products. Dell Technologies serves customers worldwide.

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Dell Technologies (DELL US)

Dell’s Q127. Soaring After Hours On Massive AI Server Driven Beat & Raise

Full-year FY27 revenue expected midpoint of $167.0 billion, +47% YoY. Full-year AI-Optimized Servers revenue expected to be roughly $60 billion, up...

William Keating

Global Thematic Portfolio (14-Sep-2026)

The strategy seeks to invest in themes that are driving returns globally. By adopting a portfolio of stocks instead of individual stocks, the...

Crea8

Global Sustainability Portfolio (14-Sep-2026)

The strategy seeks to invest in companies with superior sustainability features/initiatives. These companies may be: 1) screened by avoiding...

Crea8

US Stock Market - Deposits of USD17,948billion Sit in US Banks. Potential Flow to Markets.

Deposits in US banks are now $18.4trillion. Never has it been higher. In past week these are up $122bn to 3 Sept WoW. The magnitude of this ultra...

Daniel Tabbush

Taiwan Tech Weekly: Taiwan Rebound Lagging Nvidia; Why TSMC's 'Foundry 2.0' Is Significant

Taiwan tech stocks rally but lag behind Nvidia; focus on upcoming results from Nvidia, Dell, and HP. TSMC's strategic shift to Foundry 2.0 is...

Vincent Fernando, CFA

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Dell’s Q127. Soaring After Hours On Massive AI Server Driven Beat & Raise

Full-year FY27 revenue expected midpoint of $167.0 billion, +47% YoY. Full-year AI-Optimized Servers revenue expected to be roughly $60 billion, up...

William Keating

Global Thematic Portfolio (14-Sep-2026)

The strategy seeks to invest in themes that are driving returns globally. By adopting a portfolio of stocks instead of individual stocks, the...

Crea8

Global Sustainability Portfolio (14-Sep-2026)

The strategy seeks to invest in companies with superior sustainability features/initiatives. These companies may be: 1) screened by avoiding...

Crea8

US Stock Market - Deposits of USD17,948billion Sit in US Banks. Potential Flow to Markets.

Deposits in US banks are now $18.4trillion. Never has it been higher. In past week these are up $122bn to 3 Sept WoW. The magnitude of this ultra...

Daniel Tabbush

Taiwan Tech Weekly: Taiwan Rebound Lagging Nvidia; Why TSMC's 'Foundry 2.0' Is Significant

​Taiwan tech stocks rally but lag behind Nvidia; focus on upcoming results from Nvidia, Dell, and HP. TSMC's strategic shift to Foundry 2.0 is...

Vincent Fernando, CFA

Taiwan tech stocks rally but lag behind Nvidia; focus on upcoming results from Nvidia, Dell, and HP. TSMC's strategic shift to Foundry 2.0 is...