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>HP Inc. reported its second quarter fiscal 2026 results amid an evolving technology landscape shaped significantly by artificial intelligence (AI) and edge computing trends.</li><li>The company experienced a 9% year-over-year revenue increase driven primarily by a 13% growth in its Personal Systems segment, fueled by continued strength in AI-enabled PCs, Advanced Compute Solutions, and Workforce Solutions.</li><li>These strengths were broad-based across both Commercial and Consumer customer bases, supporting a richer product mix and disciplined pricing strategies.</li></ul>

HP Inc. reported its second quarter fiscal 2026 results amid an evolving technology landscape shaped significantly by artificial intelligence (AI) and edge computing trends.The company experienced a 9% year-over-year revenue increase driven primarily by a 13% growth in its Personal Systems segment, fueled by continued strength in AI-enabled PCs, Advanced Compute Solutions, and Workforce Solutions.These strengths were broad-based across both Commercial and Consumer customer bases, supporting a richer product mix and disciplined pricing strategies.

HP’s Print Puzzle: Pricing Gains Meet Hardware Volume Declines!

<ul><li>HP Inc. has reported its financial results for the first quarter of fiscal 2026, reflecting both promising developments and tangible challenges.</li><li>The company achieved a total revenue of $14.4 billion, representing a year-over-year growth of 7%.</li><li>This growth was primarily driven by its Personal Systems segment, highlighting a successful response to market demands such as the Windows 11 refresh cycle and the growing adoption of AI-enabled PCs. HP gained market share across its Commercial and Consumer PC categories, maintaining double-digit revenue growth within the segment.</li></ul>

HP Inc. has reported its financial results for the first quarter of fiscal 2026, reflecting both promising developments and tangible challenges.The company achieved a total revenue of $14.4 billion, representing a year-over-year growth of 7%.This growth was primarily driven by its Personal Systems segment, highlighting a successful response to market demands such as the Windows 11 refresh cycle and the growing adoption of AI-enabled PCs. HP gained market share across its Commercial and Consumer PC categories, maintaining double-digit revenue growth within the segment.

HP's 7% Revenue Growth Faces Rising Memory Cost Pressure

<ul><li>HP Inc.'s fourth-quarter results for fiscal year 2025 demonstrated both strengths and challenges in its business operations.</li><li>The company reported revenue growth, driven primarily by the Personal Systems division, which saw an 8% year-over-year increase, attributed to gains in both Commercial and Consumer categories.</li><li>This positive performance was bolstered by robust demand for AI PCs, which represented more than 30% of HP's shipments in the quarter, indicating significant market uptake in this segment.</li></ul>

HP Inc.'s fourth-quarter results for fiscal year 2025 demonstrated both strengths and challenges in its business operations.The company reported revenue growth, driven primarily by the Personal Systems division, which saw an 8% year-over-year increase, attributed to gains in both Commercial and Consumer categories.This positive performance was bolstered by robust demand for AI PCs, which represented more than 30% of HP's shipments in the quarter, indicating significant market uptake in this segment.

HP Inc.: Strengthening Commercial Share With Workstations

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Viral success with iPhone Air and HP keyboard computer pictures</li><li>Theme of CES 2022: Robots and robotic hands</li><li>Nvidia announcements at CES, including details on Vera Rubin and NVL72 nomenclature</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>

Viral success with iPhone Air and HP keyboard computer picturesTheme of CES 2022: Robots and robotic handsNvidia announcements at CES, including details on Vera Rubin and NVL72 nomenclatureThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Ep 148: All the Happenings from CES 2026!

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Gaia is likely a high-powered PCIe companion card aiming to replace Nvidia's discrete workstation GPUs by leveraging Processing-in-Memory (PIM).</li>
<li>We estimate Gaia must target an 800-1,200 TOPS envelope to displace Nvidia’s workstation GPUs, specifically leveraging PIM to bypass the severe data bottlenecks of standard PCIe interfaces.</li>
<li>The PC-level integration is a Trojan horse to potentially pitch custom hyperscaler ASICs against incumbents, providing long-term optionality ahead of a pivotal (because ADRs) and potentially soft SKHynix earnings print.</li>
</ul>


Gaia is likely a high-powered PCIe companion card aiming to replace Nvidia's discrete workstation GPUs by leveraging Processing-in-Memory (PIM).
We estimate Gaia must target an 800-1,200 TOPS envelope to displace Nvidia’s workstation GPUs, specifically leveraging PIM to bypass the severe data bottlenecks of standard PCIe interfaces.
The PC-level integration is a Trojan horse to potentially pitch custom hyperscaler ASICs against incumbents, providing long-term optionality ahead of a pivotal (because ADRs) and potentially soft SKHynix earnings print.


Samsung's Gaia: A PIM Trojan Horse and the Case for Structural Outperformance

United States

HP Inc. provides imaging and printing systems, computing systems, mobile devices, solutions, and services for business and home. The Company offers products which includes laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. HP sells its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hewlett Packard Co (HPQ US)

HP’s Print Puzzle: Pricing Gains Meet Hardware Volume Declines!

HP Inc. reported its second quarter fiscal 2026 results amid an evolving technology landscape shaped significantly by artificial intelligence (AI)...

Baptista Research

HP's 7% Revenue Growth Faces Rising Memory Cost Pressure

HP Inc. has reported its financial results for the first quarter of fiscal 2026, reflecting both promising developments and tangible...

Baptista Research

Ep 148: All the Happenings from CES 2026!

Last year's successful social media posts featured the iPhone Air and HP keyboard computer, with HP's keyboard computer going viral with 3.6...

The Circuit

Samsung's Gaia: A PIM Trojan Horse and the Case for Structural Outperformance

Gaia, a high-powered PCIe companion card, aims to replace Nvidia's discrete workstation GPUs by leveraging Processing-in-Memory (PIM) to bypass...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HP’s Print Puzzle: Pricing Gains Meet Hardware Volume Declines!

HP Inc. reported its second quarter fiscal 2026 results amid an evolving technology landscape shaped significantly by artificial intelligence (AI)...

Baptista Research

HP's 7% Revenue Growth Faces Rising Memory Cost Pressure

HP Inc. has reported its financial results for the first quarter of fiscal 2026, reflecting both promising developments and tangible...

Baptista Research

HP Inc.: Strengthening Commercial Share With Workstations

HP Inc.'s fourth-quarter results for fiscal year 2025 demonstrated both strengths and challenges in its business operations. The company reported...

Baptista Research

Ep 148: All the Happenings from CES 2026!

Last year's successful social media posts featured the iPhone Air and HP keyboard computer, with HP's keyboard computer going viral with 3.6...

The Circuit

Samsung's Gaia: A PIM Trojan Horse and the Case for Structural Outperformance

​Gaia, a high-powered PCIe companion card, aims to replace Nvidia's discrete workstation GPUs by leveraging Processing-in-Memory (PIM) to bypass...

Mint Finance

Gaia, a high-powered PCIe companion card, aims to replace Nvidia's discrete workstation GPUs by leveraging Processing-in-Memory (PIM) to bypass...