Technology / Semiconductor / Internet Research

Nicolas Baratte

Nicolas Baratte has been a financial analyst since 2000, covering the Semiconductor sector and Global Technology. Nicolas has worked on the sell-side for JPMorgan, CLSA. On the buy-side for a Tiger fund and Prudential. Nicolas has covered semiconductors, Asian hardware and components, and the Global Tech supply chain. Nicolas lives mostly in Taiwan, sometimes in France and is in New York regularly.

It's Official, OpenAI Is Becoming A Multi-Trillion Dollar Hyperscaler

Taiwan Tech Weekly: Why Many Tech Companies Could Soon See Their Chip Costs Rise Substantially

Taiwan Dual-Listings Monitor: Weak US Friday Session Opens Up Wide Opportunities Across the Board

Nanya July Revenue Soars 31% MoM As Micron Revises Current Quarter Guide Up >5%

Memory Monitor: The Sticky Era -- Memory’s Transition from Spot Pricing to Long-Cycle Commitments

Micron 3Q25 Beats by 13%, 4Q Guidance Beats by 14%. Consensus Forecasts for FY27 Too Low by 25-30%

Equity Bottom-Up

<ul>
<li>SK Hynix and Micron stocks were lagging TSMC and Nvidia as it took ~2 years for HBM to suck up enough Commodity DRAM capacity to stabilize the Commodity market</li>
<li>That’s now done, we’re just at the beginning of spectacular HBM growth for at least 2 more years. The reasons are known: density increases, speed increases, dies thinner...</li>
<li>Stocks: keep or buy Micron and SK Hynix. Samsung remains unattractive imo</li>
</ul>


SK Hynix and Micron stocks were lagging TSMC and Nvidia as it took ~2 years for HBM to suck up enough Commodity DRAM capacity to stabilize the Commodity market
That’s now done, we’re just at the beginning of spectacular HBM growth for at least 2 more years. The reasons are known: density increases, speed increases, dies thinner...
Stocks: keep or buy Micron and SK Hynix. Samsung remains unattractive imo


HBM Stocks Will Keep Running (Micron, SK Hynix), It’s Just the Beginning

Micron Technology

HBM Stocks Will Keep Running (Micron, SK Hynix), It’s Just the Beginning