Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Equity Bottom-Up

<ul>
<li>Micron is doing very well lately, mainly from its position in HBM, and this is likely to be a key positive factor in their upcoming June 25 earnings call</li>
<li>Hyperscaler CapEx has slowed, but the CapEx share of revenues continues to rise, indicating speculation that AI growth will come</li>
<li>Despite the above, Nvidia revenues have continued to grow, which is a positive indication for HBM sales</li>
</ul>


Micron is doing very well lately, mainly from its position in HBM, and this is likely to be a key positive factor in their upcoming June 25 earnings call
Hyperscaler CapEx has slowed, but the CapEx share of revenues continues to rise, indicating speculation that AI growth will come
Despite the above, Nvidia revenues have continued to grow, which is a positive indication for HBM sales


Micron Upcoming Earnings Vs.Hyperscaler CapEx Slowdown

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wistron-corp" target="_blank" data-smartkarma-citation="entities:2189:1" rel="noopener">Wistron Corp (3231 TT)</a> is looking to raise up to US$922m in its global depository receipts (GDRs) offering.</li>
<li>Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Wistron Corp (3231 TT) is looking to raise up to US$922m in its global depository receipts (GDRs) offering.
Similar to previous GDR listings, the firm has undergone a long drawn out process prior to launching the deal, having to jump through a number of board/shareholder/regulatory approval loops.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Wistron GDR Offering - Well Flagged US$922m Offering, Discount Slightly Wider than Recent Deals

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>Nvidia surpassed expectations in China despite challenges, indicating growth in other areas of their business</li><li>Shift from training to inference era highlighted, with focus on customers buying Nvidia systems for inference</li><li>Competition in the inference market could pose challenges for Nvidia, especially as costs grow and alternatives emerge like Google's tpu</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>

Nvidia surpassed expectations in China despite challenges, indicating growth in other areas of their businessShift from training to inference era highlighted, with focus on customers buying Nvidia systems for inferenceCompetition in the inference market could pose challenges for Nvidia, especially as costs grow and alternatives emerge like Google's tpuThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Rumors That Mediatek's Upcoming Chips Could Outperform Apple's Chips Used in the iPhone 17</li>
<li>Samsung Beats TSMC to Win Key Nintendo Switch 2 Contract</li>
<li>PC Monitor: Commercial PC Demand Resilient; AI PC Momentum Builds W/ NVDA Blackwell-Powered Launches </li>
</ul>


Rumors That Mediatek's Upcoming Chips Could Outperform Apple's Chips Used in the iPhone 17
Samsung Beats TSMC to Win Key Nintendo Switch 2 Contract
PC Monitor: Commercial PC Demand Resilient; AI PC Momentum Builds W/ NVDA Blackwell-Powered Launches 


Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

Adani Ports & Special Economic Zone / Credit

<ul>
<li>US treasuries climbed yesterday, on the back of a strong auction of 7Y notes and amid a soft GDP data release.</li>
<li>The yield on the 2Y UST fell 5 bps to 3.94%, while that on the 10Y UST declined 6 bps to 4.42%.</li>
<li>Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and legal uncertainties over tariffs.</li>
</ul>


US treasuries climbed yesterday, on the back of a strong auction of 7Y notes and amid a soft GDP data release.
The yield on the 2Y UST fell 5 bps to 3.94%, while that on the 10Y UST declined 6 bps to 4.42%.
Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and legal uncertainties over tariffs.


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)

Micron Upcoming Earnings Vs.Hyperscaler CapEx Slowdown

Micron's strong position in HBM and Nvidia's continued revenue growth suggest positive outcomes for upcoming earnings calls, despite a slowdown in...

Jim Handy

Wistron GDR Offering - Well Flagged US$922m Offering, Discount Slightly Wider than Recent Deals

Wistron Corporation (Wistron) is looking to raise up to US$922m in its global depository receipts (GDRs) offering. In this note, we run the deal...

Akshat Shah

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

Overall, Nvidia is experiencing strong performance in the AI market, particularly in the area of inference, but faces competition and challenges in...

The Circuit

Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

Mediatek rumored to outperform Apple's chips, Samsung wins Nintendo Switch 2 contract, commercial PC demand resilient with AI momentum.

Vincent Fernando, CFA

Lucror Analytics - Morning Views Asia

Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and...

Lucror Analytics

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Micron Upcoming Earnings Vs.Hyperscaler CapEx Slowdown

​Micron's strong position in HBM and Nvidia's continued revenue growth suggest positive outcomes for upcoming earnings calls, despite a slowdown in...

Jim Handy

Wistron GDR Offering - Well Flagged US$922m Offering, Discount Slightly Wider than Recent Deals

Wistron Corporation (Wistron) is looking to raise up to US$922m in its global depository receipts (GDRs) offering. In this note, we run the deal...

Akshat Shah

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

Overall, Nvidia is experiencing strong performance in the AI market, particularly in the area of inference, but faces competition and challenges in...

The Circuit

Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

​Mediatek rumored to outperform Apple's chips, Samsung wins Nintendo Switch 2 contract, commercial PC demand resilient with AI momentum.

Vincent Fernando, CFA

Lucror Analytics - Morning Views Asia

Equities climbed on the back of solid results from Nvidia Corp, albeit the extent of gains was pared later in the day on slowing economic data and...

Lucror Analytics

Micron's strong position in HBM and Nvidia's continued revenue growth suggest positive outcomes for upcoming earnings calls, despite a slowdown in...

Mediatek rumored to outperform Apple's chips, Samsung wins Nintendo Switch 2 contract, commercial PC demand resilient with AI momentum.