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

International Business Machines / Equity Bottom-Up

<ul><li>IBM has taken a significant step toward the next generation of computing after the Pentagon's Defense Advanced Research Projects Agency (DARPA) selected it for Stage C of its Quantum Benchmarking Initiative.</li><li>The announcement places IBM among a select group of companies undergoing independent testing to determine whether their quantum technology can eventually solve complex problems beyond the practical reach of conventional computers.</li><li>The development follows IBM's announcement of plans to invest more than $10 billion in quantum computing over five years, alongside its ambition to deliver a large-scale fault-tolerant quantum computer by 2029.</li></ul>

IBM has taken a significant step toward the next generation of computing after the Pentagon's Defense Advanced Research Projects Agency (DARPA) selected it for Stage C of its Quantum Benchmarking Initiative.The announcement places IBM among a select group of companies undergoing independent testing to determine whether their quantum technology can eventually solve complex problems beyond the practical reach of conventional computers.The development follows IBM's announcement of plans to invest more than $10 billion in quantum computing over five years, alongside its ambition to deliver a large-scale fault-tolerant quantum computer by 2029.

IBM's $10 Billion Quantum Bet: The Next AI-Sized Opportunity Or Another Tech Hype Cycle?

<ul><li>IBM has turned one of its most ambitious quantum plans into something tangible.</li><li>Its Anderon subsidiary has finalized a $1 billion research and development award from the U.S. Department of Commerce under the CHIPS and Science Act, supporting what IBM describes as America’s first pure-play quantum wafer foundry.</li><li>Located in Albany, New York, the 300-millimeter facility is designed to manufacture quantum wafers not only for IBM but also for other companies developing quantum hardware.</li></ul>

IBM has turned one of its most ambitious quantum plans into something tangible.Its Anderon subsidiary has finalized a $1 billion research and development award from the U.S. Department of Commerce under the CHIPS and Science Act, supporting what IBM describes as America’s first pure-play quantum wafer foundry.Located in Albany, New York, the 300-millimeter facility is designed to manufacture quantum wafers not only for IBM but also for other companies developing quantum hardware.

IBM’s $10 Billion Quantum Ambition Just Got A Major Government Boost!

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

<ul>
<li>IBM's earnings preannouncement last month sent the company's share price into a tailspin that wiped out more than $68 billion in market capitalization, their largest single-day percentage decline since 1968</li>
<li>Rather bizarrely, the revenue miss was in their software segment, under the transaction processing umbrella, which is traditionally seen as their strongest, most resilient revenue stream</li>
<li>After much valiant explaining in the prepared remarks and during the Q&amp;A session, our instinct is to accept management's view that the miss was revenue deferral and not revenue destruction. </li>
</ul>


IBM's earnings preannouncement last month sent the company's share price into a tailspin that wiped out more than $68 billion in market capitalization, their largest single-day percentage decline since 1968
Rather bizarrely, the revenue miss was in their software segment, under the transaction processing umbrella, which is traditionally seen as their strongest, most resilient revenue stream
After much valiant explaining in the prepared remarks and during the Q&amp;A session, our instinct is to accept management's view that the miss was revenue deferral and not revenue destruction. 


IBM Q2 2026. Was The Revenue Miss Destruction Or Deferral?

<ul><li>International Business Machines Corporation reported a 6% revenue growth in the first quarter of 2026, supported by an 8% increase in software revenue and a 12% rise in infrastructure revenue.</li><li>The company’s software segment benefited notably from its Data and Red Hat portfolios, which grew double digits, and from recent acquisitions such as Confluent and DataStax.</li><li>Red Hat growth accelerated sequentially to 10%, with OpenShift reaching a $2 billion annual recurring revenue (ARR) milestone.</li></ul>

International Business Machines Corporation reported a 6% revenue growth in the first quarter of 2026, supported by an 8% increase in software revenue and a 12% rise in infrastructure revenue.The company’s software segment benefited notably from its Data and Red Hat portfolios, which grew double digits, and from recent acquisitions such as Confluent and DataStax.Red Hat growth accelerated sequentially to 10%, with OpenShift reaching a $2 billion annual recurring revenue (ARR) milestone.

IBM Stock Crash Explained — Is Wall Street Missing the AI Growth Story?

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>The year 2023 began with a significant downturn in the semiconductor market.</li><li>Significant capacity additions were brought on after the historic shortages due to COVID-19, and then demand wobbled as interest rates quickly rose.</li><li>Supply outpaced demand, and the market turned into a period of oversupply.</li></ul>

The year 2023 began with a significant downturn in the semiconductor market.Significant capacity additions were brought on after the historic shortages due to COVID-19, and then demand wobbled as interest rates quickly rose.Supply outpaced demand, and the market turned into a period of oversupply.

Semiconductor Outlook 2024: AI's Adolescence

United States

International Business Machines Corporation (IBM) provides computer solutions through the use of advanced information technology. The Company's solutions include technologies, systems, products, services, software, and financing. IBM offers its products through its global sales and distribution organization, as well as through a variety of third party distributors and resellers.

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

International Business Machines (IBM US)

IBM's $10 Billion Quantum Bet: The Next AI-Sized Opportunity Or Another Tech Hype Cycle?

IBM has taken a significant step toward the next generation of computing after the Pentagon's Defense Advanced Research Projects Agency (DARPA)...

Baptista Research

IBM’s $10 Billion Quantum Ambition Just Got A Major Government Boost!

IBM has turned one of its most ambitious quantum plans into something tangible. Its Anderon subsidiary has finalized a $1 billion research and...

Baptista Research

IBM Q2 2026. Was The Revenue Miss Destruction Or Deferral?

After much valiant explaining in the prepared remarks and during the Q&A session, our instinct is to accept management's view that the miss was...

William Keating

IBM Stock Crash Explained — Is Wall Street Missing the AI Growth Story?

International Business Machines Corporation reported a 6% revenue growth in the first quarter of 2026, supported by an 8% increase in software...

Baptista Research

Semiconductor Outlook 2024: AI's Adolescence

Its time to jog your memory. We've gone through the downturn, what does an upturn look like? The year 2023 began with a significant downturn in the...

Fabricated Knowledge

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)