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.

Equity Bottom-Up

<ul><li>A few quick takes before SEMICON. I'll have an ARM IPO piece coming.</li><li>The funniest meme on the internet is the incredulous “Nvidia is a fraud” meme. Given the recent rise in Nvidia’s stock, some brains are breaking on the internet.</li><li>The thread/train of thought seems to be spreading, and I’m here to try to stop it.</li></ul>

A few quick takes before SEMICON. I'll have an ARM IPO piece coming.The funniest meme on the internet is the incredulous “Nvidia is a fraud” meme. Given the recent rise in Nvidia’s stock, some brains are breaking on the internet.The thread/train of thought seems to be spreading, and I’m here to try to stop it.

Taiwan AI Conference Slides, Nvidia Fraud Hoax, Huawei, ARM IPO, and Intel

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a>  share price has declined more than 50% over the last 12-months from HK$22.1 to HK$9.46.</li>
<li>In the meantime, the company’s earnings also have weakened with resurgence of Covid-19 in China alongside decline in demand for smartphones in Europe and other markets.</li>
<li>Xiaomi has entered into the premium smartphones segment which has negatively impacted the company’s margins due to aggressive expansion of offline stores.</li>
</ul>



Xiaomi Corp (1810 HK)  share price has declined more than 50% over the last 12-months from HK$22.1 to HK$9.46.
In the meantime, the company’s earnings also have weakened with resurgence of Covid-19 in China alongside decline in demand for smartphones in Europe and other markets.
Xiaomi has entered into the premium smartphones segment which has negatively impacted the company’s margins due to aggressive expansion of offline stores.


Xiaomi: Margins to Remain Under Pressure with Premiumisation and Investment in EV (Quantamental)

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

<a href="https://www.smartkarma.com/entities/parade-technologies-ltd" target="_blank" data-smartkarma-citation="entities:6987:1" rel="noopener">Parade Technologies (4966 TT)</a> is a high-speed mixed-signal fabless semiconductor company that designs, develops, and sells next-generation high-speed interface, display and touch solutions for computing, consumer, and handset markets. 
This is a high-quality tech company, with significant revenue growth and earnings momentum, generating returns well above its cost of capital, a net cash balance sheet, and an attractive sustainable 2%+ dividend yield. 
Although current valuation levels are above historical average levels, and fair at best, further revenue growth expectation upgrades coupled with fair gross margin expansion forecasts, and a management team confident of having secured sufficient manufacturing capacity to address exceptionally strong end-product demand, makes the continuation of the earnings upgrade cycle seem probable, which in turn should continue to be a positive share price catalyst. Parade Technologies is also expected to see large passive inflows during November 2021 following the MSCI November 2021 Semi-Annual Index Review.

Parade Technologies (4966 TT) is a high-speed mixed-signal fabless semiconductor company that designs, develops, and sells next-generation high-speed interface, display and touch solutions for computing, consumer, and handset markets. 
This is a high-quality tech company, with significant revenue growth and earnings momentum, generating returns well above its cost of capital, a net cash balance sheet, and an attractive sustainable 2%+ dividend yield. 
Although current valuation levels are above historical average levels, and fair at best, further revenue growth expectation upgrades coupled with fair gross margin expansion forecasts, and a management team confident of having secured sufficient manufacturing capacity to address exceptionally strong end-product demand, makes the continuation of the earnings upgrade cycle seem probable, which in turn should continue to be a positive share price catalyst. Parade Technologies is also expected to see large passive inflows during November 2021 following the MSCI November 2021 Semi-Annual Index Review.

Parade Technologies: Further Revenue Growth Upgrades, and Dividends, Should Support Valuation

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>F&amp;B / In Depth: A new Chinese food and beverage wave hits Southeast Asia Forget kung pao chicken and sweet and sour pork.</li><li>There’s a new wave of food and beverage chains flowing out of China, and it’s all about Sichuan hot pot, braised chicken rice and pickle fish soup — as well as mainstays like bubble tea.</li><li>Chinese food and beverage (F&amp;B) companies have expanded quickly into Southeast Asia, and even into North America and Europe, in the past few years, driven in part by saturation at home.</li></ul>

F&amp;B / In Depth: A new Chinese food and beverage wave hits Southeast Asia Forget kung pao chicken and sweet and sour pork.There’s a new wave of food and beverage chains flowing out of China, and it’s all about Sichuan hot pot, braised chicken rice and pickle fish soup — as well as mainstays like bubble tea.Chinese food and beverage (F&amp;B) companies have expanded quickly into Southeast Asia, and even into North America and Europe, in the past few years, driven in part by saturation at home.

CX Daily: A New Chinese Food and Beverage Wave Hits Southeast Asia 

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
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Macro data points: Chinese import and export growth, and inflation data.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>, <a href="https://www.smartkarma.com/entities/infosys-ltd" target="_blank" data-smartkarma-citation="entities:267:1" rel="noopener">Infosys Ltd (INFO IN)</a>, <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a>
</li>
</ul>


The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

Macro data points: Chinese import and export growth, and inflation data.

 Companies mentioned:Samsung Electronics (005930 KS), Infosys Ltd (INFO IN), SK Hynix (000660 KS)



GEMWeekly (9 Aug 2024): HBM Chip Stockpiling; China Macro; Samsung, Infosys, SK Hynix

China

Huawei Technologies Co., Ltd. provides networking products and telecommunication solutions. The Company researches and develops internet access, transmission network, servers, storage, security, and other networking products. Huawei Technologies also offers business consulting, network integration, assurance, managed, learning, and global delivery services.

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Huawei Technology (40978Z CH)

Taiwan AI Conference Slides, Nvidia Fraud Hoax, Huawei, ARM IPO, and Intel

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Fabricated Knowledge

Xiaomi: Margins to Remain Under Pressure with Premiumisation and Investment in EV (Quantamental)

Our quantamental reveals Xiaomi's smartphone GPM is strongly correlated with sales volume. We expect margins to remain stressed due to...

Shifara Samsudeen, ACMA, CGMA

Parade Technologies: Further Revenue Growth Upgrades, and Dividends, Should Support Valuation

In this insight, I take a deep-dive analysis into fabless IC design house, Parade Technologies, its industry value chain, current valuation levels,...

Wium Malan, CFA

CX Daily: A New Chinese Food and Beverage Wave Hits Southeast Asia

F&B / In Depth: A new Chinese food and beverage wave hits Southeast Asia Forget kung pao chicken and sweet and sour pork. There’s a new wave...

Caixin Global

GEMWeekly (9 Aug 2024): HBM Chip Stockpiling; China Macro; Samsung, Infosys, SK Hynix

The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global...

Wium Malan, CFA

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)