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 Capital Markets

<ul><li>Apple reported strong fourth-quarter financial results resulting from a robust demand for its iPhone as well service offerings.</li><li>The company set a new fourth-quarter revenue record of $83.4 billion, up 29% compared to the previous year.</li><li>We are highly bullish on Apple and give it a 'Buy' rating with a revised target price.</li></ul>

Apple reported strong fourth-quarter financial results resulting from a robust demand for its iPhone as well service offerings.The company set a new fourth-quarter revenue record of $83.4 billion, up 29% compared to the previous year.We are highly bullish on Apple and give it a 'Buy' rating with a revised target price.

Apple Inc: The 2022 Pipeline Looks Amazing (12/2021)

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Thematic (Sector/Industry)

<ul>
<li>As US Technology weights reach record highs in Global Equity portfolios, we analyse 5 stocks that are in focus for active Global managers.</li>
<li>
<a href="https://www.smartkarma.com/entities/microsoft-corp" target="_blank" data-smartkarma-citation="entities:15273:1" rel="noopener">Microsoft Corp (MSFT US)</a> is the most widely held stock though ownership increases have stalled. <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple Inc (AAPL US)</a> is the key underweight and consistently under-owned by managers.</li>
<li>
<a href="https://www.smartkarma.com/entities/visa-inc-class-a-shares" target="_blank" data-smartkarma-citation="entities:8707:1" rel="noopener">Visa (V US)</a> positive momentum has reversed while <a href="https://www.smartkarma.com/entities/adobe-systems-inc" target="_blank" data-smartkarma-citation="entities:8357:1" rel="noopener">Adobe Systems (ADBE US)</a> is the new darling of US Tech. <a href="https://www.smartkarma.com/entities/oracle-corp" target="_blank" data-smartkarma-citation="entities:1065:1" rel="noopener">Oracle Corp (ORCL US)</a> is losing investors at a consistent rate.</li>
</ul>


As US Technology weights reach record highs in Global Equity portfolios, we analyse 5 stocks that are in focus for active Global managers.

Microsoft Corp (MSFT US) is the most widely held stock though ownership increases have stalled. Apple Inc (AAPL US) is the key underweight and consistently under-owned by managers.

Visa (V US) positive momentum has reversed while Adobe Systems (ADBE US) is the new darling of US Tech. Oracle Corp (ORCL US) is losing investors at a consistent rate.


5 US Tech Stocks that Matter to Global Investors

<ul>
<li>US Tech allocations have hit fresh all-time highs among active Global investors.  Never before have Global investors placed such a reliance on US Tech to drive returns</li>
<li>We find that increases in US Tech weights were driven by relative price gains, rather than any active rebalancing in favour of the sector.</li>
<li>In fact, active momentum is slowing.  Value, Yield and GARP investors have increased underweights and Growth investors have moved from overweight to underweight.  </li>
</ul>


US Tech allocations have hit fresh all-time highs among active Global investors.  Never before have Global investors placed such a reliance on US Tech to drive returns
We find that increases in US Tech weights were driven by relative price gains, rather than any active rebalancing in favour of the sector.
In fact, active momentum is slowing.  Value, Yield and GARP investors have increased underweights and Growth investors have moved from overweight to underweight.  


US Tech:  Record Allocations, Record Underweights.  Value Becoming Harder to Find

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>There are 6 inclusions and 6 exclusions for the <a href="https://www.smartkarma.com/entities/nasdaq-100-stock-index" target="_blank" data-smartkarma-citation="entities:26197:1" rel="noopener">Nasdaq-100 Stock Index (NDX INDEX)</a> at the annual December reconstitution. The estimated one-way trade is US$11.05bn.</li>
<li>Impact on the inclusions ranges from 0.25-2.22 days of ADV to buy, while the impact on the deletions varies from 1.4-3.38 days of ADV to sell.</li>
<li>There will be large inflows on <a href="https://www.smartkarma.com/entities/meta-platforms-inc-class-a-facebook" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Meta Platforms (FB US)</a> and large outflows on Tesla, Apple, NVidia, Amazon and Google.</li>
</ul>


There are 6 inclusions and 6 exclusions for the Nasdaq-100 Stock Index (NDX INDEX) at the annual December reconstitution. The estimated one-way trade is US$11.05bn.
Impact on the inclusions ranges from 0.25-2.22 days of ADV to buy, while the impact on the deletions varies from 1.4-3.38 days of ADV to sell.
There will be large inflows on Meta Platforms (FB US) and large outflows on Tesla, Apple, NVidia, Amazon and Google.


NASDAQ 100 Index Rebalance: Six Changes at the Annual Reconstitution

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>The companies that are best positioned to take advantage of the 5G growth are a mix of equipment vendors, chipset companies, device makers, and enterprise solution providers. </li>
<li>The top ten companies to benefit from 5G rollout based on innovation and citation count are <strong>Samsung Electronics, Qualcomm, LG Electronics, AT&amp;T, Huawei, Intel, Google, Ericsson, Apple,</strong> and <strong>Nokia </strong>
</li>
<li>A stand-out in 5G technology rankings is <a href="https://www.smartkarma.com/entities/lg-electronics-inc" target="_blank" data-smartkarma-citation="entities:8814:1" rel="noopener">LG Electronics (066570 KS)</a> which is punching well above its current market share in the industry. </li>
</ul>


The companies that are best positioned to take advantage of the 5G growth are a mix of equipment vendors, chipset companies, device makers, and enterprise solution providers. 
The top ten companies to benefit from 5G rollout based on innovation and citation count are Samsung Electronics, Qualcomm, LG Electronics, AT&amp;T, Huawei, Intel, Google, Ericsson, Apple, and Nokia 

A stand-out in 5G technology rankings is LG Electronics (066570 KS) which is punching well above its current market share in the industry. 


Stock Ideas from Data Mining Technical Publications: A Look at 5G

United States

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

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Apple (AAPL US)

Apple Inc: The 2022 Pipeline Looks Amazing (12/2021)

Apple reported strong fourth-quarter financial results resulting from a robust demand for its iPhone as well service offerings. The company set a...

Baptista Research

5 US Tech Stocks that Matter to Global Investors

As US Technology weights reach record highs in Global Equity portfolios, we analyse 5 stocks that are in focus for active Global managers.

Steven Holden

US Tech: Record Allocations, Record Underweights. Value Becoming Harder to Find

US Tech allocations have hit fresh all-time highs among active Global investors. Never before have Global investors placed such a reliance on US...

Steven Holden

NASDAQ 100 Index Rebalance: Six Changes at the Annual Reconstitution

There are 6 changes for the NASDAQ-100 index at the annual December reconstitution. Apart from the flows on the adds and deletes, there will be...

Brian Freitas

Stock Ideas from Data Mining Technical Publications: A Look at 5G

5G connectivity is expected to spawn new business and services across sectors. We review the technological positioning of companies competing in...

Pyari Menon

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