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.

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>TSMC started this season’s earnings with a strong result. Shares rallied immensely on this print, and it’s justified. In almost every metric, TSMC came out ahead.</li>
<li>
<p>TSMC had a revenue, operating income, and gross margin beat and guided above the street.</p>
</li>
<li>
<p>Now let’s break out revenue by node and platform for a further look into the results of the world’s largest foundry.</p>
</li>
</ul>


TSMC started this season’s earnings with a strong result. Shares rallied immensely on this print, and it’s justified. In almost every metric, TSMC came out ahead.

TSMC had a revenue, operating income, and gross margin beat and guided above the street.


Now let’s break out revenue by node and platform for a further look into the results of the world’s largest foundry.



TSMC, SMCI, Texas Instruments, AWE, ASML, and LRCX

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>The WiFi technology was dominated by <a href="https://www.smartkarma.com/entities/broadcom-corp-cl-a" target="_blank" data-smartkarma-citation="entities:999:1" rel="noopener">Broadcom Corp Cl A (BRCM US)</a>, but <a href="https://www.smartkarma.com/entities/mediatek-inc" target="_blank" data-smartkarma-citation="entities:772:1" rel="noopener">Mediatek Inc (2454 TT)</a> has to break into the PC and smartphone markets in 2024F.</li>
<li>There are speculations that Apple might use MediaTek's WiFi 7 solution in 2024F or consider MediaTek as a potential chip provider.</li>
<li>MediaTek will be using 6nm technology for WiFi 7, replacing the current 28nm technology used for WiFi 6.</li>
</ul>


The WiFi technology was dominated by Broadcom Corp Cl A (BRCM US), but Mediatek Inc (2454 TT) has to break into the PC and smartphone markets in 2024F.
There are speculations that Apple might use MediaTek's WiFi 7 solution in 2024F or consider MediaTek as a potential chip provider.
MediaTek will be using 6nm technology for WiFi 7, replacing the current 28nm technology used for WiFi 6.


MediaTek (2454.TT): The WiFi 7 Chip Competition Is Likely to Become Fierce in 2024.

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>Texas Instruments Incorporated reported first quarter 2026 revenue of $4.8 billion, reflecting a 9% sequential increase and a 19% year-over-year rise.</li><li>Both Analog and Embedded Processing segments showed growth, with Analog revenue increasing 22% year-over-year and Embedded Processing growing 12%.</li><li>The Other segment declined 16% compared to the prior year’s quarter.</li></ul>

Texas Instruments Incorporated reported first quarter 2026 revenue of $4.8 billion, reflecting a 9% sequential increase and a 19% year-over-year rise.Both Analog and Embedded Processing segments showed growth, with Analog revenue increasing 22% year-over-year and Embedded Processing growing 12%.The Other segment declined 16% compared to the prior year’s quarter.

Texas Instruments: Inside The GaN Revolution—How Advanced Tech Is Building A Competitive Moat!

<ul><li>Texas Instruments (TXN) reported its fourth-quarter 2025 results with revenue reaching $4.4 billion, marking a year-over-year increase of 10% and a sequential decline of 7%.</li><li>The quarter showcased a strong position in its Analog and Embedded Processing segments, growing 14% and 8% year-over-year, respectively, despite a decline in other segments.</li><li>The company attributed its performance to the ongoing semiconductor market recovery, maintaining robust inventory and capacity to meet immediate customer demand.</li></ul>

Texas Instruments (TXN) reported its fourth-quarter 2025 results with revenue reaching $4.4 billion, marking a year-over-year increase of 10% and a sequential decline of 7%.The quarter showcased a strong position in its Analog and Embedded Processing segments, growing 14% and 8% year-over-year, respectively, despite a decline in other segments.The company attributed its performance to the ongoing semiconductor market recovery, maintaining robust inventory and capacity to meet immediate customer demand.

Texas Instruments: An Insight Into Data Center Exposure

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The MV US Semiconductor 25 index represents the performance of the biggest US-listed companies in the semiconductor industry.</li>
<li>There will be no index changes for the December 2025 rebal event.</li>
<li>We expect a one-way flow of US$2.9bn and a turnover of ~7.5% for December 2025.</li>
</ul>


The MV US Semiconductor 25 index represents the performance of the biggest US-listed companies in the semiconductor industry.
There will be no index changes for the December 2025 rebal event.
We expect a one-way flow of US$2.9bn and a turnover of ~7.5% for December 2025.


[Quiddity Index] MV US Semiconductor25 Dec25 Rebalance Results: Flow Expectations

United States

Texas Instruments Incorporated operates as a semiconductor design and manufacturing company. The Company develops analog ICs and embedded processors. Texas Instruments has manufacturing or sales operations worldwide.

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Texas Instruments (TXN US)

TSMC, SMCI, Texas Instruments, AWE, ASML, and LRCX

Its the first week of earnings, and it's already a busy one. TSMC started this season’s earnings with a strong result. Shares rallied immensely on...

Fabricated Knowledge

MediaTek (2454.TT): The WiFi 7 Chip Competition Is Likely to Become Fierce in 2024.

Mediatek Inc (2454 TT) has to break into the PC and smartphone markets in 2024F. In 2024, MediaTek aims to potentially supplying WiFi 7 chips to...

Patrick Liao

Texas Instruments: Inside The GaN Revolution—How Advanced Tech Is Building A Competitive Moat!

Texas Instruments Incorporated reported first quarter 2026 revenue of $4.8 billion, reflecting a 9% sequential increase and a 19% year-over-year...

Baptista Research

Texas Instruments: An Insight Into Data Center Exposure

Texas Instruments (TXN) reported its fourth-quarter 2025 results with revenue reaching $4.4 billion, marking a year-over-year increase of 10% and...

Baptista Research

[Quiddity Index] MV US Semiconductor25 Dec25 Rebalance Results: Flow Expectations

There are no ADDs or DELETEs to the MV US Semiconductor 25 Index for December 2025 but there is US$6bn to trade, which adds flow to an otherwise...

Travis Lundy

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

TSMC, SMCI, Texas Instruments, AWE, ASML, and LRCX

Its the first week of earnings, and it's already a busy one. TSMC started this season’s earnings with a strong result. Shares rallied immensely on...

Fabricated Knowledge

MediaTek (2454.TT): The WiFi 7 Chip Competition Is Likely to Become Fierce in 2024.

Mediatek Inc (2454 TT) has to break into the PC and smartphone markets in 2024F. ​In 2024, MediaTek aims to potentially supplying WiFi 7 chips to...

Patrick Liao

Texas Instruments: Inside The GaN Revolution—How Advanced Tech Is Building A Competitive Moat!

Texas Instruments Incorporated reported first quarter 2026 revenue of $4.8 billion, reflecting a 9% sequential increase and a 19% year-over-year...

Baptista Research

Texas Instruments: An Insight Into Data Center Exposure

Texas Instruments (TXN) reported its fourth-quarter 2025 results with revenue reaching $4.4 billion, marking a year-over-year increase of 10% and...

Baptista Research

[Quiddity Index] MV US Semiconductor25 Dec25 Rebalance Results: Flow Expectations

There are no ADDs or DELETEs to the MV US Semiconductor 25 Index for December 2025 but there is US$6bn to trade, which adds flow to an otherwise...

Travis Lundy

Mediatek Inc (2454 TT) has to break into the PC and smartphone markets in 2024F. In 2024, MediaTek aims to potentially supplying WiFi 7 chips to...