US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/doordash-inc" target="_blank" data-smartkarma-citation="entities:28881:1" rel="noopener">DoorDash (DASH US)</a> recently became eligible for addition to S&amp;P500 following the company's <a href="https://ir.doordash.com/news/news-details/2025/DoorDash-Releases-Fourth-Quarter-and-Full-Year-2024-Financial-Results/default.aspx" target="_blank" rel="noopener">positive earnings announcement</a> on 11 February 2025.</li>
<li>
<a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a>, <a href="https://www.smartkarma.com/entities/doordash-inc" target="_blank" data-smartkarma-citation="entities:28881:1" rel="noopener">DoorDash (DASH US)</a>, and <a href="https://www.smartkarma.com/entities/coinbase-global-inc" target="_blank" data-smartkarma-citation="entities:32227:1" rel="noopener">Coinbase Global (COIN US)</a> are the main addition by transition candidates. APP is number one due to significant long-term mcap score.</li>
<li>
<a href="https://www.smartkarma.com/entities/williams-sonoma-inc" target="_blank" data-smartkarma-citation="entities:11383:1" rel="noopener">Williams Sonoma (WSM US)</a> is the main addition by migration candidate and the expected addition by replacement if <a href="https://www.smartkarma.com/entities/capital-one-financial-corp" target="_blank" data-smartkarma-citation="entities:255:1" rel="noopener">Capital One's</a> acquisition is completed prior to the March review.</li>
</ul>



DoorDash (DASH US) recently became eligible for addition to S&amp;P500 following the company's positive earnings announcement on 11 February 2025.

AppLovin (APP US), DoorDash (DASH US), and Coinbase Global (COIN US) are the main addition by transition candidates. APP is number one due to significant long-term mcap score.

Williams Sonoma (WSM US) is the main addition by migration candidate and the expected addition by replacement if Capital One's acquisition is completed prior to the March review.


Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>HP plans to cut 2,000 jobs and shift 90% of its manufacturing from China to North America by the fourth quarter of 2025.</li><li>Hushan successfully transforms car door handles into profitable aftermarket products, carving out a niche in the market.</li><li>IBM closes its research facility in China and lays off 1,800 employees, while companies like Jabil, Aequs, and Tata export Indian-made Apple components to China and Vietnam.</li></ul>

HP plans to cut 2,000 jobs and shift 90% of its manufacturing from China to North America by the fourth quarter of 2025.Hushan successfully transforms car door handles into profitable aftermarket products, carving out a niche in the market.IBM closes its research facility in China and lays off 1,800 employees, while companies like Jabil, Aequs, and Tata export Indian-made Apple components to China and Vietnam.

Tech Supply Chain Tracker (04-Mar-2025): HP cuts 2k jobs, offshores China manufacturing for NA by 4Q25

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

<ul>
<li>Growing Signs That ARM-Based Chips Are Set to Disrupt the PC Market</li>
<li>Qualcomm’s Earnings Call Insights -- Snapdragon’s ARM-Based Push into PCs Successfully Taking Significant Market Share</li>
<li>Mediatek Earnings Call Highlights -- Reiterates ARM-Based Entry into PC Market with AI Supercomputer CPU in Collaboration with NVIDIA</li>
</ul>


Growing Signs That ARM-Based Chips Are Set to Disrupt the PC Market
Qualcomm’s Earnings Call Insights -- Snapdragon’s ARM-Based Push into PCs Successfully Taking Significant Market Share
Mediatek Earnings Call Highlights -- Reiterates ARM-Based Entry into PC Market with AI Supercomputer CPU in Collaboration with NVIDIA


PC Monitor: Latest Qualcomm & Mediatek Results Show ARM-Based Chips Disrupting the PC Market

<ul>
<li>Recent U.S. Market Weakness Appears to Have Been More Focused on Falling Sentiment for Server Businesses, Not PCs</li>
<li>CES 2025 Showed Qualcomm Chips Gaining Momentum in PCs, While AMD Continued Aggressive Competition -- Intel Under Pressure</li>
<li>PC Maker Universe to Experience Decent Revenue Growth in 2025E -- Structural Long Asustek &amp; Dell</li>
</ul>


Recent U.S. Market Weakness Appears to Have Been More Focused on Falling Sentiment for Server Businesses, Not PCs
CES 2025 Showed Qualcomm Chips Gaining Momentum in PCs, While AMD Continued Aggressive Competition -- Intel Under Pressure
PC Maker Universe to Experience Decent Revenue Growth in 2025E -- Structural Long Asustek &amp; Dell


PC Monitor: Snapdragon’s Surge, AMD’s Gains, Intel’s Test; Long Asus & Dell

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the March 2025 index rebal event.</li>
<li>We expect two regular changes in March 2025. There are also several live spin-off and M&amp;A events which are likely to trigger intra-review index changes before then.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the March 2025 index rebal event.
We expect two regular changes in March 2025. There are also several live spin-off and M&amp;A events which are likely to trigger intra-review index changes before then.


[Quiddity Index Jan25] S&P500/600 Mar25 Rebal: Multiple Intra-Review Changes Possible

United States

Hewlett Packard Enterprise Company provides information technology solutions. The Company offers enterprise security, analytics and data management, applications development and testing, data center care, cloud consulting, and business process services. Hewlett Packard Enterprise serves customers worldwide.

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Hewlett Packard Enterprise (HPE US)

S&P500: DoorDash Knocks

Announced additions: DASH, WSM , EXE, TKO. 2/3 of top addition picks materialized. EXE, TKO I believe were added by force due to a large number of...

Dimitris Ioannidis

Tech Supply Chain Tracker (04-Mar-2025): HP cuts 2k jobs, offshores China manufacturing for NA by 4Q25

HP plans to cut 2,000 jobs and shift 90% of its manufacturing from China to North America by the fourth quarter of 2025, while IBM closes its China...

Tech Supply Chain Tracker

PC Monitor: Latest Qualcomm & Mediatek Results Show ARM-Based Chips Disrupting the PC Market

ARM-based chips, led by Qualcomm and Mediatek, are poised to disrupt the PC market with successful market share gains and collaborations with...

Vincent Fernando, CFA

PC Monitor: Snapdragon’s Surge, AMD’s Gains, Intel’s Test; Long Asus & Dell

Recent market weakness in the U.S. is centered on server businesses, not PCs. Qualcomm chips gaining traction in PCs at CES 2025, while AMD...

Vincent Fernando, CFA

[Quiddity Index Jan25] S&P500/600 Mar25 Rebal: Multiple Intra-Review Changes Possible

Q1 has a bunch of deals nearing completion. We could see a couple of intra-review changes before the announcement of the March rebal. I expect we...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P500: DoorDash Knocks

Announced additions: DASH, WSM , EXE, TKO. 2/3 of top addition picks materialized. EXE, TKO I believe were added by force due to a large number of...

Dimitris Ioannidis

Tech Supply Chain Tracker (04-Mar-2025): HP cuts 2k jobs, offshores China manufacturing for NA by 4Q25

HP plans to cut 2,000 jobs and shift 90% of its manufacturing from China to North America by the fourth quarter of 2025, while IBM closes its China...

Tech Supply Chain Tracker

PC Monitor: Latest Qualcomm & Mediatek Results Show ARM-Based Chips Disrupting the PC Market

​ARM-based chips, led by Qualcomm and Mediatek, are poised to disrupt the PC market with successful market share gains and collaborations with...

Vincent Fernando, CFA

PC Monitor: Snapdragon’s Surge, AMD’s Gains, Intel’s Test; Long Asus & Dell

​Recent market weakness in the U.S. is centered on server businesses, not PCs. Qualcomm chips gaining traction in PCs at CES 2025, while AMD...

Vincent Fernando, CFA

[Quiddity Index Jan25] S&P500/600 Mar25 Rebal: Multiple Intra-Review Changes Possible

Q1 has a bunch of deals nearing completion. We could see a couple of intra-review changes before the announcement of the March rebal. I expect we...

Travis Lundy

ARM-based chips, led by Qualcomm and Mediatek, are poised to disrupt the PC market with successful market share gains and collaborations with...

Recent market weakness in the U.S. is centered on server businesses, not PCs. Qualcomm chips gaining traction in PCs at CES 2025, while AMD...