Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

We have theorised previously that the upgraded Switch that everyone expects from Nintendo could utilise graphics partner, Nvidia’s DLSS technology. This could help the company close the gap with Sony and Microsoft and could have a variety of other implications which we discuss below.

We have theorised previously that the upgraded Switch that everyone expects from Nintendo could utilise graphics partner, Nvidia’s DLSS technology. This could help the company close the gap with Sony and Microsoft and could have a variety of other implications which we discuss below.

Nintendo – DLSS Developments Have Implications for Switch “Pro”

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

The SIA has posted the semiconductor market's year-end total.  Revenues were up 6.5% over 2019, impressively above the industry's 3.9% average annual growth.  This is even more impressive given that the year started off with a consumer slump as the pandemic emerged.

The SIA has posted the semiconductor market's year-end total.  Revenues were up 6.5% over 2019, impressively above the industry's 3.9% average annual growth.  This is even more impressive given that the year started off with a consumer slump as the pandemic emerged.

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

SmartKarma Insight Providers Jim Handey and Will Keating have done excellent work detailing the Intel backstory, and outlining the current problems, I wanted to highlight the difficulty of the decisions facing Gelsinger, and the fact that while he has time to execute (his pay package will pay him  &gt;$100M if Intel’s stock is up 200% in 5 years), he doesn’t have the best track record as a CEO. We think a split up of Intel with the US government helping to fund manufacturing may be the best option for Intel. <div class="content-highlight">Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</div>

SmartKarma Insight Providers Jim Handey and Will Keating have done excellent work detailing the Intel backstory, and outlining the current problems, I wanted to highlight the difficulty of the decisions facing Gelsinger, and the fact that while he has time to execute (his pay package will pay him  &gt;$100M if Intel’s stock is up 200% in 5 years), he doesn’t have the best track record as a CEO. We think a split up of Intel with the US government helping to fund manufacturing may be the best option for Intel. Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

Intel: Are We Sure Gelsinger Is the Best Choice? Maybe Its Time for a Government Bailout.

President

Thomas Coughlin

Coughlin Associates

Intel's change in CEOs will likely result in changes in the company, such as selling off unprofitable acquisitions.  How will this impact the company's NSG memory products.   I would guess that Intel might decide to accelerate its sale of its NAND flash operations to SK hynix.  However, because of the strategic importance of the next generation server processors to compete against AMD.  I think it is much less likely that the company would sell its Optane products at this time.

Intel's change in CEOs will likely result in changes in the company, such as selling off unprofitable acquisitions.  How will this impact the company's NSG memory products.   I would guess that Intel might decide to accelerate its sale of its NAND flash operations to SK hynix.  However, because of the strategic importance of the next generation server processors to compete against AMD.  I think it is much less likely that the company would sell its Optane products at this time.

Intel CEO Change:  Implications for Company's Memory Products

Intel announced on January 13, 2021, that its CEO Bob Swan would step down to be replaced by departed Intel veteran Pat Gelsinger.  This Smartkarma Insight focuses on the work that Gelsinger must do to win back the company's diminishing prominence in the processor market that it created.

Intel announced on January 13, 2021, that its CEO Bob Swan would step down to be replaced by departed Intel veteran Pat Gelsinger.  This Smartkarma Insight focuses on the work that Gelsinger must do to win back the company's diminishing prominence in the processor market that it created.

Intel CEO Change Brings Focus Back to Technology

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Nintendo – DLSS Developments Have Implications for Switch “Pro”

We examine recent developments for Nvidia's DLSS technology and consider the implications for the expected Switch "Pro", including for third party...

Mio Kato

2020 Semiconductor Revenues Up 6.5%

How did the semiconductor market size up in 2020? This Insight shows that, despite COVID, the market enjoyed above-average growth, and appears...

Jim Handy

Intel: Are We Sure Gelsinger Is the Best Choice? Maybe Its Time for a Government Bailout.

Pat Gelsinger is being hailed as the perfect fit for Intel CEO, but his track record managing VMWare hasn't generated good returns for investors.

Aaron Gabin

Intel CEO Change: Implications for Company's Memory Products

Intel's change in CEOs will likely result in changes in the company, such as selling off unprofitable acquisitions. How will this impact the...

Thomas Coughlin

Intel CEO Change Brings Focus Back to Technology

Intel is changing its CEO. Does incoming CEO Pat Gelsinger have what is needed for the company to regain its position? What steps must he take? ...

Jim Handy

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