Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Equity Derivatives

Banco Bilbao Vizcaya Argentari / Equity Derivatives

<ul><li>Options markets flashed a split signal this week.</li><li>European financials drew the most persistent put-buying of the period, while select US names saw call buyers overwhelm hedgers.</li><li>Earnings-linked hedging dominated mid-week flows, with several 52-week PCR records broken in both directions.</li></ul>

Options markets flashed a split signal this week.European financials drew the most persistent put-buying of the period, while select US names saw call buyers overwhelm hedgers.Earnings-linked hedging dominated mid-week flows, with several 52-week PCR records broken in both directions.

Options Weekly: Bears Circle Banks, Bulls Chase Storage and Discretionary

President

Thomas Coughlin

Coughlin Associates

Thematic (Sector/Industry)

High capacity HDDs, particularly nearline drives for enterprise and hyper scale data centers are the one growth area for HDDs going forward.  We project that growth in demand for nearline storage could stop the decline in HDD shipments by 2024-2025.   The growth of capacity-oriented nearline drives will result in more components per drive out to 2025.  We project that total shipments of heads and media will exceed the peak in 2014 by 2024-2025, largely due to the growth of high capacity (many heads and media) hard disk drives.

High capacity HDDs, particularly nearline drives for enterprise and hyper scale data centers are the one growth area for HDDs going forward.  We project that growth in demand for nearline storage could stop the decline in HDD shipments by 2024-2025.   The growth of capacity-oriented nearline drives will result in more components per drive out to 2025.  We project that total shipments of heads and media will exceed the peak in 2014 by 2024-2025, largely due to the growth of high capacity (many heads and media) hard disk drives.

HDD C3Q Results, Continued Decline in Units but Growth in High Capacity HDDs

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

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a broad-based advance. We highlight these improvements in this report, along with what we would like to see in order to have confidence in labeling this a bull market.  In today’s report we also highlight attractive Groups and stocks within Energy, Financials, Manufacturing, and Technology: Refining, Banks, Super-Regional, Industrial, Diversified, Large-Cap, and Data Storage Solutions &amp; Devices, Large-Cap.

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a broad-based advance. We highlight these improvements in this report, along with what we would like to see in order to have confidence in labeling this a bull market.  In today’s report we also highlight attractive Groups and stocks within Energy, Financials, Manufacturing, and Technology: Refining, Banks, Super-Regional, Industrial, Diversified, Large-Cap, and Data Storage Solutions &amp; Devices, Large-Cap.

U.S. Equity Strategy: Dramatic Improvement

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>Three KPIs run the business, Get a fair return on the technology, dampen cyclicality via NBMs with financial guarantees, limiting to mid-to-high-teens bit growth</li>
<li>First three NBM agreements (signed March quarter): $42 billion total lifetime contracted value. Five NBM agreements now signed</li>
<li>SanDisk’s February 2025 Analyst Day call was that NAND would inflect in 2H25 and remain undersupplied through end 2026. Goeckeler is now extending the same conviction level through end 2027.</li>
</ul>


Three KPIs run the business, Get a fair return on the technology, dampen cyclicality via NBMs with financial guarantees, limiting to mid-to-high-teens bit growth
First three NBM agreements (signed March quarter): $42 billion total lifetime contracted value. Five NBM agreements now signed
SanDisk’s February 2025 Analyst Day call was that NAND would inflect in 2H25 and remain undersupplied through end 2026. Goeckeler is now extending the same conviction level through end 2027.


SanDisk @ JPM 54th Annual TMT. Key Takeaways & Full Transcript

United States

Seagate Technology Holdings Public Limited Company offers computer hardware products. The Company designs, manufactures, and markets hard disk drives for enterprise applications, client compute applications, client non-compute applications, personal data backup systems, portable external storage systems and digital media systems.

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

Seagate (STX US)

Options Weekly: Bears Circle Banks, Bulls Chase Storage and Discretionary

Options markets flashed a split signal this week. European financials drew the most persistent put-buying of the period, while select US names saw...

ORTEX Market Intel

HDD C3Q Results, Continued Decline in Units but Growth in High Capacity HDDs

HDD Annual Shipments in continued decline, high capacity HDD shipments expected to grow. C3Q benefited from consumer sales and continued capacity...

Thomas Coughlin

U.S. Equities: Test Of The Lows Coming?

Now that the initial/primary low has been established and with the S&P 500 roughly 20% off the lows, we believe it is time to map out potential...

Vermilion Research

U.S. Equity Strategy: Dramatic Improvement

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a...

Vermilion Research

SanDisk @ JPM 54th Annual TMT. Key Takeaways & Full Transcript

SanDisk’s February 2025 Analyst Day call was that NAND would inflect in 2H25 and remain undersupplied through end 2026. Goeckeler is now extending...

William Keating

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)