Independent research on the U.S. markets, Baptista Research

Baptista Research

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.

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>Super Micro Computer, Inc. reported third-quarter fiscal 2026 revenue of $10.2 billion, marking a 123% increase year-over-year but a 19% decline sequentially.</li><li>The quarter experienced a revenue shortfall primarily due to delays linked to customer site readiness and broader industry supply chain constraints, including shortages in CPUs, GPUs, memory, and SSDs. The company highlighted that several customer data center sites were not yet equipped with necessary power and networking infrastructure, causing deferred revenue expected to be recognized in upcoming quarters.</li><li>The backlog of orders remains at record highs, reflecting persistent demand, particularly driven by AI infrastructure, with AI GPU-related platforms accounting for over 80% of revenue.</li></ul>

Super Micro Computer, Inc. reported third-quarter fiscal 2026 revenue of $10.2 billion, marking a 123% increase year-over-year but a 19% decline sequentially.The quarter experienced a revenue shortfall primarily due to delays linked to customer site readiness and broader industry supply chain constraints, including shortages in CPUs, GPUs, memory, and SSDs. The company highlighted that several customer data center sites were not yet equipped with necessary power and networking infrastructure, causing deferred revenue expected to be recognized in upcoming quarters.The backlog of orders remains at record highs, reflecting persistent demand, particularly driven by AI infrastructure, with AI GPU-related platforms accounting for over 80% of revenue.

Super Micro Computer (SMCI) Sees AI Platforms Exceed 80% Of Revenue; What's Next?