Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> is a leading beneficiary of the recovery in global Smartphone demand, and strength in Memory prices, driven by the proliferation of Gen AI demand.</li>
<li>Global Memory prices have recovered by up to +80%y/y driven by demand from hyperscaler customers for leading-technology DDR5, HBM, and other high-value-added memory products.</li>
<li>Samsung Electronics trades more than one standard deviation below its 5-year historic average trading range, a historically proved to be an excellent buying point.</li>
</ul>



Samsung Electronics (005930 KS) is a leading beneficiary of the recovery in global Smartphone demand, and strength in Memory prices, driven by the proliferation of Gen AI demand.
Global Memory prices have recovered by up to +80%y/y driven by demand from hyperscaler customers for leading-technology DDR5, HBM, and other high-value-added memory products.
Samsung Electronics trades more than one standard deviation below its 5-year historic average trading range, a historically proved to be an excellent buying point.


Samsung Electronics (005930-KR): Quality Generative AI Play, Trading at a Discount

Equity/Index & Cross Asset Volatility Specialist, Cameron Design

Jay Cameron

Equity/Index & Cross Asset Volatility Specialist

Cameron Design

We specialize in financial products and volatility. Our strategies balance speed, data, and risk control to capture opportunities across global markets. Our research leverages AI and data analytics to continuously refine our algorithms and adapt to evolving market dynamics.

Equity Derivatives

<ul>
<li>Western Digital has nearly doubled in the last four months, and makes its selling point that the AI/GPU boom generates data which must be stored.  We consider volatility, DEC26 options.</li>
<li>With a focus on HDDs after the spinoff of Sandisk February 2025, WDC now focuses exclusively on their main business: storage, and has developed a number of competitive technologies.</li>
<li>A unique HDD offering capable of thwarting quantum computation attacks ensures the company is ready for the next decade in terms of security.</li>
</ul>


Western Digital has nearly doubled in the last four months, and makes its selling point that the AI/GPU boom generates data which must be stored.  We consider volatility, DEC26 options.
With a focus on HDDs after the spinoff of Sandisk February 2025, WDC now focuses exclusively on their main business: storage, and has developed a number of competitive technologies.
A unique HDD offering capable of thwarting quantum computation attacks ensures the company is ready for the next decade in terms of security.


Western Digital’s AI Data Vault: Quantum Resilience, Margin Expansion, and the DEC26 Option Strategy

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>Western Digital Corporation reported its third quarter fiscal 2026 results with notable sequential and year-over-year revenue growth driven largely by strong demand across cloud, consumer, and client segments.</li><li>The company generated $3.3 billion in revenue, representing a 45% increase from the prior year, which exceeded the high end of its guidance range.</li><li>Earnings per share nearly doubled to $2.72, supported by improved gross margins surpassing 50%, driven by a favorable product mix shift toward higher capacity drives, successful pricing strategies, and operational efficiencies.</li></ul>

Western Digital Corporation reported its third quarter fiscal 2026 results with notable sequential and year-over-year revenue growth driven largely by strong demand across cloud, consumer, and client segments.The company generated $3.3 billion in revenue, representing a 45% increase from the prior year, which exceeded the high end of its guidance range.Earnings per share nearly doubled to $2.72, supported by improved gross margins surpassing 50%, driven by a favorable product mix shift toward higher capacity drives, successful pricing strategies, and operational efficiencies.

Western Digital: The 25% CAGR In Storage Demand Cannot Override The Execution Constraint Behind Underperform!

<ul><li>Western Digital Corporation delivered a strong quarter, with revenue of $3 billion rising 25% year over year and earnings per share of $2.13 exceeding the high end of guidance.</li><li>The result was driven primarily by strong nearline hard drive demand from cloud customers, with cloud revenue representing 89% of total revenue and increasing 28% year over year.</li><li>Exabyte shipments reached 215 exabytes, up 22%, supported by higher-capacity ePMR products and strong adoption of drives reaching up to 32 terabytes.</li></ul>

Western Digital Corporation delivered a strong quarter, with revenue of $3 billion rising 25% year over year and earnings per share of $2.13 exceeding the high end of guidance.The result was driven primarily by strong nearline hard drive demand from cloud customers, with cloud revenue representing 89% of total revenue and increasing 28% year over year.Exabyte shipments reached 215 exabytes, up 22%, supported by higher-capacity ePMR products and strong adoption of drives reaching up to 32 terabytes.

Western Digital: 89% Cloud Concentration Is The Real Risk Not The Margin Story!

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

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Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

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Event-Driven

<ul><li>WDC beat consensus on the top and bottom line and guided Q4 ahead of expectations.</li><li>Revenue was $3.3B (+45% y/y), gross margin expanded to 50.5% (+1,040 bps y/y), and EPS hit $2.72, nearly double last year.</li><li>Q4 guide: revenue of $3.65B +/- $100MM (~40% y/y), gross margin of 51-52%, EPS of $3.25 +/- $0.15 — all above the Street.</li></ul>

WDC beat consensus on the top and bottom line and guided Q4 ahead of expectations.Revenue was $3.3B (+45% y/y), gross margin expanded to 50.5% (+1,040 bps y/y), and EPS hit $2.72, nearly double last year.Q4 guide: revenue of $3.65B +/- $100MM (~40% y/y), gross margin of 51-52%, EPS of $3.25 +/- $0.15 — all above the Street.

United States

Western Digital Corporation is a global provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video. The Company's products include hard drives, solid-state drives, and home entertainment and networking products.

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Western Digital (WDC US)

Samsung Electronics (005930-KR): Quality Generative AI Play, Trading at a Discount

In this insight, we analyse Samsung Electronics with a particular focus on the global Memory and Smartphone markets, company financials and growth...

Wium Malan, CFA

Western Digital’s AI Data Vault: Quantum Resilience, Margin Expansion, and the DEC26 Option Strategy

Western Digital is at the forefront of storage technology. Advances in storage efficiency and quantum-resilient hard drives cement their position...

Jay Cameron

Western Digital: The 25% CAGR In Storage Demand Cannot Override The Execution Constraint Behind Underperform!

Western Digital Corporation reported its third quarter fiscal 2026 results with notable sequential and year-over-year revenue growth driven...

Baptista Research

Western Digital: 89% Cloud Concentration Is The Real Risk Not The Margin Story!

Western Digital Corporation delivered a strong quarter, with revenue of $3 billion rising 25% year over year and earnings per share of $2.13...

Baptista Research

Weekly Update (WDC, HOH.V, LBTYA, TXT)

WDC beat consensus on the top and bottom line and guided Q4 ahead of expectations. Revenue was $3.3B (+45% y/y), gross margin expanded to 50.5%...

Richard Howe

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