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.

Equity Bottom-Up

<ul><li>Western Digital Corporation's second-quarter fiscal 2026 results present a complex landscape of achievements and challenges as the company addresses the rapidly evolving demands of AI and cloud computing.</li><li>With AI and cloud computing serving as a major drivers of growth, the company continues to focus on developing higher-density storage solutions to meet the needs of its hyperscale customers.</li><li>The company's commitment to increasing areal density through advancements in technologies such as Heat-Assisted Magnetic Recording (HAMR) and energy-assisted Perpendicular Magnetic Recording (ePMR), as well as the upshift to UltraSMR technology, highlights its strategy for staying competitive in this landscape.</li></ul>

Western Digital Corporation's second-quarter fiscal 2026 results present a complex landscape of achievements and challenges as the company addresses the rapidly evolving demands of AI and cloud computing.With AI and cloud computing serving as a major drivers of growth, the company continues to focus on developing higher-density storage solutions to meet the needs of its hyperscale customers.The company's commitment to increasing areal density through advancements in technologies such as Heat-Assisted Magnetic Recording (HAMR) and energy-assisted Perpendicular Magnetic Recording (ePMR), as well as the upshift to UltraSMR technology, highlights its strategy for staying competitive in this landscape.

Western Digital’s Hyperscale Lock-In Looks Real—How Durable Is Demand Through 2028?

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in companies with superior sustainability features/initiatives.</li><li>These companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG</li><li>3) included as their business models may not only benefit from but also may drive long-term sustainability outcomes; and 4) committed to generating positive, measurable and additional sustainability outcomes.</li></ul>

The strategy seeks to invest in companies with superior sustainability features/initiatives.These companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG3) included as their business models may not only benefit from but also may drive long-term sustainability outcomes; and 4) committed to generating positive, measurable and additional sustainability outcomes.

Global Sustainability Portfolio (18-Aug-2026)

<ul>
<li>The strategy seeks to invest in themes that are driving returns globally.</li>
<li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li>
<li>Previous portfolio returned 16.2% vs. MSCI World (4.2%) – outperformed the benchmark by 12%.</li>
</ul>


The strategy seeks to invest in themes that are driving returns globally.
By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.
Previous portfolio returned 16.2% vs. MSCI World (4.2%) – outperformed the benchmark by 12%.


Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Thematic (Sector/Industry)

<ul>
<li>We tracked AI models, infrastructure, and M&amp;A this week: MiniMax H3 topped video editing while DeepSeek moved toward higher API pricing.</li>
<li>China labs are active: Alibaba launched Qwen3.8-Max, Tencent expanded Hy3, ByteDance accepted a frontier gap, and Kimi K3 escaped a test sandbox.</li>
<li>Infrastructure and financing: memory makers expanded capacity, CoreWeave and Microsoft added data centers, and Switch filed for a US IPO.</li>
</ul>


We tracked AI models, infrastructure, and M&amp;A this week: MiniMax H3 topped video editing while DeepSeek moved toward higher API pricing.
China labs are active: Alibaba launched Qwen3.8-Max, Tencent expanded Hy3, ByteDance accepted a frontier gap, and Kimi K3 escaped a test sandbox.
Infrastructure and financing: memory makers expanded capacity, CoreWeave and Microsoft added data centers, and Switch filed for a US IPO.


This Week in AI (Aug 2-8): MiniMax H3 Led Video AI; DeepSeek Raises Price and Resumes Funding

<ul><li>Western Digital Corporation's (WDC) recent earnings call for the first quarter of fiscal year 2026 provides a comprehensive overview of the company's current position, its strategies to navigate market dynamics, and its future prospects.</li><li>This analysis extracts key insights from the call, presenting a nuanced investment thesis reflecting both the strengths and challenges evident from the results.</li><li>Western Digital continues to experience significant demand driven by the proliferation of AI across industries, necessitating robust data storage solutions.</li></ul>

Western Digital Corporation's (WDC) recent earnings call for the first quarter of fiscal year 2026 provides a comprehensive overview of the company's current position, its strategies to navigate market dynamics, and its future prospects.This analysis extracts key insights from the call, presenting a nuanced investment thesis reflecting both the strengths and challenges evident from the results.Western Digital continues to experience significant demand driven by the proliferation of AI across industries, necessitating robust data storage solutions.

Western Digital Ships 70 Exabytes — Will Its Next-Gen Drives Up The Game In The AI Data Race?

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)

Western Digital’s Hyperscale Lock-In Looks Real—How Durable Is Demand Through 2028?

Western Digital Corporation's second-quarter fiscal 2026 results present a complex landscape of achievements and challenges as the company...

Baptista Research

Global Sustainability Portfolio (18-Aug-2026)

The strategy seeks to invest in companies with superior sustainability features/initiatives. These companies may be: 1) screened by avoiding...

Crea8

Global Thematic Portfolio (18-Aug-2026)

The strategy seeks to invest in themes that are driving returns globally. By adopting a portfolio of stocks instead of individual stocks, the...

Crea8

This Week in AI (Aug 2-8): MiniMax H3 Led Video AI; DeepSeek Raises Price and Resumes Funding

This week in AI: MiniMax H3 tops video editing; DeepSeek seeks close to USD 8bn and hikes API prices; Switch files for a USD 10bn IPO.

Ke Yan, CFA, FRM

Western Digital Ships 70 Exabytes — Will Its Next-Gen Drives Up The Game In The AI Data Race?

Western Digital Corporation's (WDC) recent earnings call for the first quarter of fiscal year 2026 provides a comprehensive overview of the...

Baptista Research

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