Asia and Global Semiconductor and Tech Research

Andrew Lu

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<h2>Morris' retirement</h2><p>After 30 years devotion to <a href="https://www.smartkarma.com/entities/11230" target="_blank" data-smartkarma-citation="entities:11230:1">Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), </a>Chairman Morris Chang today announces to retire from the Company immediately after the Annual Shareholders Meeting in early June 2018. Dr. Chang will not be a director in the next term of the board of directors nor will participate in any TSMC management activities. From early June 2018 on, Dr. Mark Liu will be the Chairman of the Board, and Dr. C.C. Wei will be the CEO. All present directors of the board…</p>

Morris' retirementAfter 30 years devotion to Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), Chairman Morris Chang today announces to retire from the Company immediately after the Annual Shareholders Meeting in early June 2018. Dr. Chang will not be a director in the next term of the board of directors nor will participate in any TSMC management activities. From early June 2018 on, Dr. Mark Liu will be the Chairman of the Board, and Dr. C.C. Wei will be the CEO. All present directors of the board…

TSMC - Chairman Morris Chang Will Retire in June 2018; Implications for All Prospects

<h2>What's new?</h2><p>After <a href="https://www.smartkarma.com/entities/798" target="_blank" data-smartkarma-citation="entities:798:1">Fiat Chrysler Automobiles Nv (FCAU US)</a> left Waymo to join BMW-Intel autonomous car platform in August 2017 (" <a href="https://www.smartkarma.com/insights/fiat-chrysler-is-leaving-waymo-to-join-bmw-intel-autonomous-platform-negative-positive-to" target="_blank" data-smartkarma-citation="insights:12899">Fiat Chrysler Is Leaving Waymo to Join BMW-Intel Autonomous Platform; Negative/Positive To?</a> "), <a href="https://www.smartkarma.com/entities/16764" target="_blank" data-smartkarma-citation="entities:16764:1">Intel Corp (INTC US)</a> announced to collaborate with Waymo (an <a href="https://www.smartkarma.com/entities/11369" target="_blank" data-smartkarma-citation="entities:11369:1">Alphabet Inc Cl C (GOOG US)</a> company) on self-driving car technology yesterday. Waymo’s newest vehicles, the self-driving Chrysler Pacifica hybrid minivans, feature Intel-based technologies for sensor processing…</p>

What's new?After Fiat Chrysler Automobiles Nv (FCAU US) left Waymo to join BMW-Intel autonomous car platform in August 2017 (" Fiat Chrysler Is Leaving Waymo to Join BMW-Intel Autonomous Platform; Negative/Positive To? "), Intel Corp (INTC US) announced to collaborate with Waymo (an Alphabet Inc Cl C (GOOG US) company) on self-driving car technology yesterday. Waymo’s newest vehicles, the self-driving Chrysler Pacifica hybrid minivans, feature Intel-based technologies for sensor processing…

Waymo and Intel Collaborate on the Autonomous Car; Turning Intel the Only Semi Competitor to Nvidia

<h2>Bitcoin and cryptocurrency trading has frozen in China</h2><p>Few days after China declared war against bitcoin and other digital currencies by banning cryptocurrency fundraising and shutting down top three cryptocurrency exchanges (OKCoin, BTC China, Huobi) along with over 10 other smaller ones a few days back, SZZC (上海海楓藤) yesterday announced to shut down its cryptocurrency trading business by 30 September. Also, most of the senior managers at these cryptocurrency exchanges are asked not to leave…</p>

Bitcoin and cryptocurrency trading has frozen in ChinaFew days after China declared war against bitcoin and other digital currencies by banning cryptocurrency fundraising and shutting down top three cryptocurrency exchanges (OKCoin, BTC China, Huobi) along with over 10 other smaller ones a few days back, SZZC (上海海楓藤) yesterday announced to shut down its cryptocurrency trading business by 30 September. Also, most of the senior managers at these cryptocurrency exchanges are asked not to leave…

Bitcoin Trading Frozen in China - Negative to Cryptocurrency Mining Related Vendors

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Technicals continue to endorse a bullish outlook. And with the S&amp;P 500 breaking out to new highs yesterday, and insurance stocks recovering from last week, we are benefitting from renewed clarity following the muddled, past two months.</p><p>In today’s report we highlight actionable ideas in the following Groups:</p><ul><li><strong>Semis</strong>... <em>see page 14-20</em></li><li><strong>Insurers</strong>... <em>see page 8-13</em></li></ul>

Technicals continue to endorse a bullish outlook. And with the S&amp;P 500 breaking out to new highs yesterday, and insurance stocks recovering from last week, we are benefitting from renewed clarity following the muddled, past two months.In today’s report we highlight actionable ideas in the following Groups:Semis... see page 14-20Insurers... see page 8-13

U.S. Equity Uptrend Resumes; Outlook Remains Bullish

Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

Thematic (Sector/Industry)

<h2>AI is the next big computing wave. </h2><p>After transitioning from mainframes to PCs to servers to Cloud-based data centres, computing is about to make another transition: Artificial intelligence (AI) is the next computing wave. As demand for chips from the PC and smartphone industry subsides, demand for high-end processors to power AI-based platforms such as voice interfaces, robots, augmented reality, driverless cars, smart homes and advanced cybersecurity systems will rise.<br>This new semiconductor industry is led by Microsoft, Google, Apple and Huawei. They increasingly tell their merchant suppliers what chips to make or do it better themselves, building custom, algorithmic chips and creating their own AI supercomputers in the Cloud.</p><p>And Intel has got the message.</p><p>So how should investors respond?</p>

AI is the next big computing wave. After transitioning from mainframes to PCs to servers to Cloud-based data centres, computing is about to make another transition: Artificial intelligence (AI) is the next computing wave. As demand for chips from the PC and smartphone industry subsides, demand for high-end processors to power AI-based platforms such as voice interfaces, robots, augmented reality, driverless cars, smart homes and advanced cybersecurity systems will rise. This new semiconductor industry is led by Microsoft, Google, Apple and Huawei. They increasingly tell their merchant suppliers what chips to make or do it better themselves, building custom, algorithmic chips and creating their own AI supercomputers in the Cloud.And Intel has got the message.So how should investors respond?

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

TSMC - Chairman Morris Chang Will Retire in June 2018; Implications for All Prospects

Morris' retirementAfter 30 years devotion to Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), Chairman Morris Chang today announces to retire from the...

Andrew Lu

Waymo and Intel Collaborate on the Autonomous Car; Turning Intel the Only Semi Competitor to Nvidia

What's new?After Fiat Chrysler Automobiles Nv (FCAU US) left Waymo to join BMW-Intel autonomous car platform in August 2017 (" Fiat Chrysler Is...

Andrew Lu

U.S. Equity Uptrend Resumes; Outlook Remains Bullish

Technicals continue to endorse a bullish outlook. And with the S&P 500 breaking out to new highs yesterday, and insurance stocks recovering...

Vermilion Research

Semiconductors in the Age of AI

AI is the next big computing wave. After transitioning from mainframes to PCs to servers to Cloud-based data centres, computing is about to make...

CM Research

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TSMC - Chairman Morris Chang Will Retire in June 2018; Implications for All Prospects

Morris' retirementAfter 30 years devotion to Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), Chairman Morris Chang today announces to retire from the...

Andrew Lu

Waymo and Intel Collaborate on the Autonomous Car; Turning Intel the Only Semi Competitor to Nvidia

What's new?After Fiat Chrysler Automobiles Nv (FCAU US) left Waymo to join BMW-Intel autonomous car platform in August 2017 (" Fiat Chrysler Is...

Andrew Lu

Bitcoin Trading Frozen in China - Negative to Cryptocurrency Mining Related Vendors

Bitcoin and cryptocurrency trading has frozen in ChinaFew days after China declared war against bitcoin and other digital currencies by banning...

Andrew Lu

U.S. Equity Uptrend Resumes; Outlook Remains Bullish

Technicals continue to endorse a bullish outlook. And with the S&P 500 breaking out to new highs yesterday, and insurance stocks recovering...

Vermilion Research

Semiconductors in the Age of AI

AI is the next big computing wave. After transitioning from mainframes to PCs to servers to Cloud-based data centres, computing is about to make...

CM Research