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>Intel Corporation finds itself at a critical juncture as it heads into its mid-September 2024 board meeting, grappling with a series of severe challenges that threaten the company's stability and future prospects.</li><li>Once a titan of the semiconductor industry, Intel has been beset by financial difficulties, including continuous losses, declining market share, and an increasingly competitive landscape.</li><li>The situation has been exacerbated by the recent departure of key executives, adding to the uncertainty surrounding the company’s strategic direction.</li></ul>

Intel Corporation finds itself at a critical juncture as it heads into its mid-September 2024 board meeting, grappling with a series of severe challenges that threaten the company's stability and future prospects.Once a titan of the semiconductor industry, Intel has been beset by financial difficulties, including continuous losses, declining market share, and an increasingly competitive landscape.The situation has been exacerbated by the recent departure of key executives, adding to the uncertainty surrounding the company’s strategic direction.

Intel’s Crisis Deepens: Is the Foundry Business Next on the Chopping Block?

<ul><li>Intel Corporation, once the undisputed leader in the semiconductor industry, is currently grappling with a series of challenges that have significantly impacted its market position and share price.</li><li>Amidst these struggles, Intel is reportedly working with advisors like Morgan Stanley to prepare a defense against potential activist investors, a clear signal of the growing pressure the company faces.</li><li>The need for such a defense highlights the precarious situation Intel finds itself in—a company in the throes of operational difficulties, financial underperformance, and strategic missteps.</li></ul>

Intel Corporation, once the undisputed leader in the semiconductor industry, is currently grappling with a series of challenges that have significantly impacted its market position and share price.Amidst these struggles, Intel is reportedly working with advisors like Morgan Stanley to prepare a defense against potential activist investors, a clear signal of the growing pressure the company faces.The need for such a defense highlights the precarious situation Intel finds itself in—a company in the throes of operational difficulties, financial underperformance, and strategic missteps.

Activist Investors Circling Intel? The Reasons Behind The Chipmaker’s Defensive Strategy!

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.

<ul><li>First, let’s start with Intel. Intel had a pretty poor earnings result. There’s no two ways about it.</li><li>Intel reports Q2 EPS $0.02 ex-items vs FactSet $0.10, announces $10B cost reduction plan; suspends dividend</li><li>There was another layoff of around 15% of employees, a full dividend suspension (finally, guys), and a capex cut.</li></ul>

First, let’s start with Intel. Intel had a pretty poor earnings result. There’s no two ways about it.Intel reports Q2 EPS $0.02 ex-items vs FactSet $0.10, announces $10B cost reduction plan; suspends dividendThere was another layoff of around 15% of employees, a full dividend suspension (finally, guys), and a capex cut.

Intel Missed the Party, while AMD's ZT Systems is the Bet to Stay in the Game

Asia and Global Semiconductor and Tech Research

Andrew Lu

<ul>
<li>We see early signs of recovery in PC and smartphone markets, stable server market (strengths in AI server, stable in non-AI server market), but weaknesses in automotive and industrial.</li>
<li>We expect the PC semi market recovery of more than 10% y/y in 2024/2025, driven by inventory rebuild and silicon contents increase by adding AI into PC.</li>
<li>We expect the smartphone semi market recovery of 7-8% y/y in 2024/2025, driven by inventory rebuild and adopting 3nE foundry node. But, Huawei/HiSilicon will take some of the growth.</li>
</ul>


We see early signs of recovery in PC and smartphone markets, stable server market (strengths in AI server, stable in non-AI server market), but weaknesses in automotive and industrial.
We expect the PC semi market recovery of more than 10% y/y in 2024/2025, driven by inventory rebuild and silicon contents increase by adding AI into PC.
We expect the smartphone semi market recovery of 7-8% y/y in 2024/2025, driven by inventory rebuild and adopting 3nE foundry node. But, Huawei/HiSilicon will take some of the growth.


First Run of Global Semis' Guidances to Tell Early Signs of Recovery

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>Intel's upcoming Meteor Lake family of chips will include a new specific component specifically for running AI processes locally on PCs.</li>
<li>Meteor Lake will enable mass market adoption of AI PCs by providing a platform for developers to create more advanced AI PC applications than are currently possible.</li>
<li>Meteor Lake's launch could start by end-October. Intel's Innovation conference September 19-20th will likely add visibility. Intel's potential supports a Long thesis for Taiwan's PC supply chain.</li>
</ul>


Intel's upcoming Meteor Lake family of chips will include a new specific component specifically for running AI processes locally on PCs.
Meteor Lake will enable mass market adoption of AI PCs by providing a platform for developers to create more advanced AI PC applications than are currently possible.
Meteor Lake's launch could start by end-October. Intel's Innovation conference September 19-20th will likely add visibility. Intel's potential supports a Long thesis for Taiwan's PC supply chain.


Intel's Meteor Lake Chips Could Make It 'Cool' Again; Will Enable Mass Market Adoption of AI PCs

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

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Intel Corp (INTC US)

Intel’s Crisis Deepens: Is the Foundry Business Next on the Chopping Block?

Intel Corporation finds itself at a critical juncture as it heads into its mid-September 2024 board meeting, grappling with a series of severe...

Baptista Research

Activist Investors Circling Intel? The Reasons Behind The Chipmaker’s Defensive Strategy!

Intel Corporation, once the undisputed leader in the semiconductor industry, is currently grappling with a series of challenges that have...

Baptista Research

Intel Missed the Party, while AMD's ZT Systems is the Bet to Stay in the Game

First, let’s start with Intel. Intel had a pretty poor earnings result. There’s no two ways about it. Intel reports Q2 EPS $0.02 ex-items vs...

Fabricated Knowledge

First Run of Global Semis' Guidances to Tell Early Signs of Recovery

After the first Run of global semis' guidance, it tells early signs of recovery in PC and smartphone but weaknesses in automotive and industrial,...

Andrew Lu

Intel's Meteor Lake Chips Could Make It 'Cool' Again; Will Enable Mass Market Adoption of AI PCs

Intel's Meteor Lake chip family will enable mass adoption of AI PCs and the company could become widely admired by the market again. This also...

Vincent Fernando, CFA

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