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>Q425 revenues of $13.7 billion, flat sequentially, down 4% YoY but $400 million above guided midpoint. Gross margin was 37.9%, 1.4 points above outlook, but down 4.2 points YoY.</li>
<li>Forecasted Q126 of $12.2 billion, down 11% sequentially and down $500 million YoY. GM to fall 3.4 points QoQ, and EPS will be, well basically there won’t be any EPS</li>
<li>18A challenge is switching from yield to reliability. This limits their ability to volume ramp without tanking GM completely, putting the company between a rock and a hard place.</li>
</ul>


Q425 revenues of $13.7 billion, flat sequentially, down 4% YoY but $400 million above guided midpoint. Gross margin was 37.9%, 1.4 points above outlook, but down 4.2 points YoY.
Forecasted Q126 of $12.2 billion, down 11% sequentially and down $500 million YoY. GM to fall 3.4 points QoQ, and EPS will be, well basically there won’t be any EPS
18A challenge is switching from yield to reliability. This limits their ability to volume ramp without tanking GM completely, putting the company between a rock and a hard place.


Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>INTC down in AH may be felt in softness for SPE suppliers Lasertec, TEL and Ibiden. </li>
<li>Jensen's ultra-bullish Davos pitch calls for trillion more in AI Infrastructure spending to meet his vision for an AI infused society. </li>
<li>ARM higher again will help Softbank nocth more gains on top of yesterday's 11.6% surge </li>
</ul>


INTC down in AH may be felt in softness for SPE suppliers Lasertec, TEL and Ibiden. 
Jensen's ultra-bullish Davos pitch calls for trillion more in AI Infrastructure spending to meet his vision for an AI infused society. 
ARM higher again will help Softbank nocth more gains on top of yesterday's 11.6% surge 


Japan Morning Connection: Market Exuberance for Intel's 14A Looks Slightly Ahead of the Reality

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>Intel is heading into earnings supported by CES-driven 18A/Panther Lake optics and a sharp step-up in Street optimism, including KeyBanc’s $60 and Seaport’s $65 price targets.</li>
<li>Foundry capex direction would reveal whether advanced packaging (EMIB) deals are converting into real volume commitments, even if no anchor customer is named for 14A.</li>
<li>With server CPUs effectively sold out and client products supply-constrained, the focus is on whether pricing power and margin leverage begin to show up in guidance</li>
</ul>


Intel is heading into earnings supported by CES-driven 18A/Panther Lake optics and a sharp step-up in Street optimism, including KeyBanc’s $60 and Seaport’s $65 price targets.
Foundry capex direction would reveal whether advanced packaging (EMIB) deals are converting into real volume commitments, even if no anchor customer is named for 14A.
With server CPUs effectively sold out and client products supply-constrained, the focus is on whether pricing power and margin leverage begin to show up in guidance


What Intel Needs to Show to Sustain the Recent Reratings

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.

<ul><li>Intel shares surged this week after a bullish upgrade that reignited investor hopes in the chipmaker.</li><li>KeyBanc boosted Intel to "Overweight," pointing to AI infrastructure as a powerful near-term growth engine.</li><li>With its server CPUs nearly sold out for the year, Intel is reportedly considering a 10–15% increase in average selling prices (ASPs).</li></ul>

Intel shares surged this week after a bullish upgrade that reignited investor hopes in the chipmaker.KeyBanc boosted Intel to "Overweight," pointing to AI infrastructure as a powerful near-term growth engine.With its server CPUs nearly sold out for the year, Intel is reportedly considering a 10–15% increase in average selling prices (ASPs).

Intel’s Foundry Dream Is Finally Real—And Apple Might Help!

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 Shariah compliant companies with superior sustainability features / initiatives.</li><li>These Shariah compliant companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG</li><li>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></ul>

The strategy seeks to invest in Shariah compliant companies with superior sustainability features / initiatives.These Shariah compliant companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG3) 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.

Global Sustainability (Shariah) Portfolio (18-Aug-2026)

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

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Intel Corp (INTC US)

Intel. Between A Rock & A Hard Place

Intel's 18A challenge is switching from yield to reliability. This limits their ability to volume ramp without tanking GM completely, putting the...

William Keating

Japan Morning Connection: Market Exuberance for Intel's 14A Looks Slightly Ahead of the Reality

INTEL's after-hours decline could impact suppliers Lasertec, TEL, and Ibiden. Jensen predicts trillion-dollar AI infrastructure spending for AI...

Andrew Jackson

What Intel Needs to Show to Sustain the Recent Reratings

Intel's earnings are bolstered by CES-driven advancements and high price targets, while focus shifts to capex direction and potential margin...

Mint Finance

Intel’s Foundry Dream Is Finally Real—And Apple Might Help!

Intel shares surged this week after a bullish upgrade that reignited investor hopes in the chipmaker. KeyBanc boosted Intel to "Overweight,"...

Baptista Research

Global Sustainability (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in Shariah compliant companies with superior sustainability features / initiatives. These Shariah compliant companies...

Crea8

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Intel. Between A Rock & A Hard Place

Intel's 18A challenge is switching from yield to reliability. This limits their ability to volume ramp without tanking GM completely, putting the...

William Keating

Japan Morning Connection: Market Exuberance for Intel's 14A Looks Slightly Ahead of the Reality

​INTEL's after-hours decline could impact suppliers Lasertec, TEL, and Ibiden. Jensen predicts trillion-dollar AI infrastructure spending for AI...

Andrew Jackson

What Intel Needs to Show to Sustain the Recent Reratings

​Intel's earnings are bolstered by CES-driven advancements and high price targets, while focus shifts to capex direction and potential margin...

Mint Finance

Intel’s Foundry Dream Is Finally Real—And Apple Might Help!

Intel shares surged this week after a bullish upgrade that reignited investor hopes in the chipmaker. KeyBanc boosted Intel to "Overweight,"...

Baptista Research

Global Sustainability (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in Shariah compliant companies with superior sustainability features / initiatives. These Shariah compliant companies...

Crea8

INTEL's after-hours decline could impact suppliers Lasertec, TEL, and Ibiden. Jensen predicts trillion-dollar AI infrastructure spending for AI...

Intel's earnings are bolstered by CES-driven advancements and high price targets, while focus shifts to capex direction and potential margin...