Thematic Investing in Tech and Media, CM Research

Cyrus Mewawalla

Thematic Investing in Tech and Media

Thematic TMT investing

CM Research

CM Research is an independent research house based in London, England. We provide global thematic research in the Technology, Media and Telecoms (TMT) sectors. 

Our focus is on disruptive technologies: how will they unfold; which industries will be impacted; and who will be the ultimate winners and losers. 

Our aim is to help investors predict share prices and corporate executives stay one step ahead of the technology trends that are shaping their industry. 

We research technology investment themes in detail and then feed the results into a scorecard system to quantify the impact of several conflicting themes on individual stocks. 

Recent themes covered include internet TV, the Internet of Things, Big Data, Mobile payments, crowdfunding, artificial intelligence, the cloud, software defined networking and Generation Hashtag.

We cover the top 500 global TMT stocks by market capitalisation and several technology start-ups and pre-IPO companies too. 

In 2015, CM Research analysts outperformed the Bloomberg Benchmark Analyst Index - which measures how good analysts are at predicting stock prices - by 7.1%.

Thematic (Sector/Industry)

<p>This reports looks at the key trends driving stocks in the global semiconductor industry, identifying winners and losers.</p><p>It is extracted from CM Research's "Tech and Media Trends 2018" report, which covers the top 600 TMT stocks globally and all the investment themes driving their earnings. Using our unique "thematic engine", we quantify the impact of these themes on each of our 18 TMT subsectors, of which semiconductors is one.</p>

This reports looks at the key trends driving stocks in the global semiconductor industry, identifying winners and losers.It is extracted from CM Research's "Tech and Media Trends 2018" report, which covers the top 600 TMT stocks globally and all the investment themes driving their earnings. Using our unique "thematic engine", we quantify the impact of these themes on each of our 18 TMT subsectors, of which semiconductors is one.

Asia and Global Semiconductor and Tech Research

Andrew Lu

Equity Bottom-Up

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<h2>Morris' retirement</h2><p>After 30 years devotion to <a href="https://www.smartkarma.com/entities/11230" target="_blank" data-smartkarma-citation="entities:11230:1">Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), </a>Chairman Morris Chang today announces to retire from the Company immediately after the Annual Shareholders Meeting in early June 2018. Dr. Chang will not be a director in the next term of the board of directors nor will participate in any TSMC management activities. From early June 2018 on, Dr. Mark Liu will be the Chairman of the Board, and Dr. C.C. Wei will be the CEO. All present directors of the board…</p>

Morris' retirementAfter 30 years devotion to Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), Chairman Morris Chang today announces to retire from the Company immediately after the Annual Shareholders Meeting in early June 2018. Dr. Chang will not be a director in the next term of the board of directors nor will participate in any TSMC management activities. From early June 2018 on, Dr. Mark Liu will be the Chairman of the Board, and Dr. C.C. Wei will be the CEO. All present directors of the board…

TSMC - Chairman Morris Chang Will Retire in June 2018; Implications for All Prospects

Event-Driven

<h2><strong>From Lattice to Imagination<br></strong></h2><p>9 days after US President <a href="https://www.bloomberg.com/billionaires/id/1252249" target="_blank">Donald Trump</a> blocked a Chinese-backed Canyon Bridge Capital Partners from buying <a href="https://www.smartkarma.com/entities/7855" target="_blank" data-smartkarma-citation="entities:7855:1">Lattice Semiconductor Corp (LSCC US)</a>, a tier three FPGA/PLD semiconductor vendor, for security risk, Canyon Bridge/CBFI investment is changing its target to acquire a troubled <a href="https://www.smartkarma.com/entities/24156" target="_blank" data-smartkarma-citation="entities:24156:1">Imagination Technologies Group (IMG LN)</a> (agreed by the board of directors of Imagination) for £550mn or 41.6% premium price of 182 pence per share over the latest closing.</p><p><a href="https://www.imgtec.com/news/press-release/recommended-cash-acquisition-of-imagination-technologies-group-plc-by-cbfi-investment-limited-22-september-2017/" target="_blank">https://www.imgtec.</a>…</p>

From Lattice to Imagination 9 days after US President Donald Trump blocked a Chinese-backed Canyon Bridge Capital Partners from buying Lattice Semiconductor Corp (LSCC US), a tier three FPGA/PLD semiconductor vendor, for security risk, Canyon Bridge/CBFI investment is changing its target to acquire a troubled Imagination Technologies Group (IMG LN) (agreed by the board of directors of Imagination) for £550mn or 41.6% premium price of 182 pence per share over the latest closing.https://www.imgtec.…

From Lattice to Imagination; Canyon Bridge Is Desperate

Himax Technologies Inc Adr / Equity Bottom-Up

<h2>What triggers our idea?</h2><p>Among all of the new features we have highlighted in <a href="https://www.smartkarma.com/entities/666" target="_blank" data-smartkarma-citation="entities:666:1">Apple Inc (AAPL US)</a> new iPhone X (please see "<a href="https://www.smartkarma.com/insights/apple-new-iphones-and-watch-3-all-new-features-are-in-the-price" target="_blank" data-smartkarma-citation="insights:13541">Apple New IPhones and Watch 3: All New Features Are in the Price?</a> " dated 13 September 2017), TrueDepth camera system for Face ID should be the most wanted feature to drive iPhone X outselling iPhone 8/8 plus for easy unlock, increase security, Animoji on live, and rising augmented reality (AR) applications. Although this won't happen soon, we expect 3D face ID to replace…</p>

What triggers our idea?Among all of the new features we have highlighted in Apple Inc (AAPL US) new iPhone X (please see "Apple New IPhones and Watch 3: All New Features Are in the Price? " dated 13 September 2017), TrueDepth camera system for Face ID should be the most wanted feature to drive iPhone X outselling iPhone 8/8 plus for easy unlock, increase security, Animoji on live, and rising augmented reality (AR) applications. Although this won't happen soon, we expect 3D face ID to replace…

Himax - What if 50% of Android Smartphones Need Face ID by 2021?

<h2>Summary</h2><p><em>Despite almost all new features like Face ID, wireless charging, OLED display, faster A11 CPU, and glass casing on iPhone X have been well released by the earlier news, we strongly believe <a href="https://www.smartkarma.com/entities/666" target="_blank" data-smartkarma-citation="entities:666:1">Apple Inc (AAPL US)</a>'s new iPhone X to out sell iPhone 8 and 8 plus combined starting November 3. This should result in weaker 3Q17 and early 4Q17 iPhone (8 and 8 plus) shipment and blended ASP but stronger late 4Q17 and 1Q18 iPhone (X) shipment and ASP than past few years to mainly benefit iPhone X</em>…</p>

SummaryDespite almost all new features like Face ID, wireless charging, OLED display, faster A11 CPU, and glass casing on iPhone X have been well released by the earlier news, we strongly believe Apple Inc (AAPL US)'s new iPhone X to out sell iPhone 8 and 8 plus combined starting November 3. This should result in weaker 3Q17 and early 4Q17 iPhone (8 and 8 plus) shipment and blended ASP but stronger late 4Q17 and 1Q18 iPhone (X) shipment and ASP than past few years to mainly benefit iPhone X…

Apple New IPhones and Watch 3: All New Features Are in the Price?

United States

QUALCOMM, Inc . manufactures digital wireless communications equipment.  The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits; and produces equipment and software used to track workers and assets; and software for wireless content enablement.

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Qualcomm Inc (QCOM US)

Semiconductor Industry Trends

This reports looks at the key trends driving stocks in the global semiconductor industry, identifying winners and losers.It is extracted from CM...

CM Research

TSMC - Chairman Morris Chang Will Retire in June 2018; Implications for All Prospects

Morris' retirementAfter 30 years devotion to Taiwan Semiconductor Mfg. Co. Ltd. (2330 TT), Chairman Morris Chang today announces to retire from the...

Andrew Lu

From Lattice to Imagination; Canyon Bridge Is Desperate

From Lattice to Imagination9 days after US President Donald Trump blocked a Chinese-backed Canyon Bridge Capital Partners from buying Lattice...

Andrew Lu

Himax - What if 50% of Android Smartphones Need Face ID by 2021?

What triggers our idea?Among all of the new features we have highlighted in Apple Inc (AAPL US) new iPhone X (please see "Apple New IPhones and...

Andrew Lu

Apple New IPhones and Watch 3: All New Features Are in the Price?

SummaryDespite almost all new features like Face ID, wireless charging, OLED display, faster A11 CPU, and glass casing on iPhone X have been well...

Andrew Lu

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