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.

Event-Driven

<ul>
<li>Last week the best show in semiconductors was the Maxlinear and SIMO merger news. I will catalog the entire saga and outline my thoughts on where things go.</li>
<li>Before we talk about SIMO, let’s talk about Maxlinear’s acquisitions. MaxLinear acquired an asset in April 2020 that was almost the perfect fit.</li>
<li>As Intel shed assets, <a href="https://link.sbstck.com/redirect/db2d9597-2061-468b-ba34-a12146ed7e62?j=eyJ1IjoiMmh6Z2Z6In0.muIDtmM5oyqUKBSSZiLNsipOMwhSsKSSacAB3JlN14Y" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://link.sbstck.com/redirect/db2d9597-2061-468b-ba34-a12146ed7e62?j%3DeyJ1IjoiMmh6Z2Z6In0.muIDtmM5oyqUKBSSZiLNsipOMwhSsKSSacAB3JlN14Y&amp;source=gmail&amp;ust=1691025954853000&amp;usg=AOvVaw1XwVvbW4r4yPuTojiMtbQH" rel="noopener">they sold their home gateway platform</a>, which makes the semiconductors that go in-home modems and routers.</li>
</ul>


Last week the best show in semiconductors was the Maxlinear and SIMO merger news. I will catalog the entire saga and outline my thoughts on where things go.
Before we talk about SIMO, let’s talk about Maxlinear’s acquisitions. MaxLinear acquired an asset in April 2020 that was almost the perfect fit.
As Intel shed assets, they sold their home gateway platform, which makes the semiconductors that go in-home modems and routers.


Maxlinear and Silicon Motion, Vicor and Monolithic Power and New Product Launches

Equity Bottom-Up

<ul><li>Google, Microsoft, and Facebook reported earnings.</li><li>Let’s discuss their capex plans and what that means for our new data center champion, Nvidia.</li><li>I think it’s pretty straightforward that Nvidia has revenue beats for the foreseeable future.</li></ul>

Google, Microsoft, and Facebook reported earnings.Let’s discuss their capex plans and what that means for our new data center champion, Nvidia.I think it’s pretty straightforward that Nvidia has revenue beats for the foreseeable future.

Google, Microsoft, Facebook and Nvidia: AI Spending Implications at the Hyperscalers

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

Meta Platforms (Facebook) / Equity Bottom-Up

<ul><li>During the weekend, I asked my twitter followers: What do you think Facebook's DAU to MAU ratio was in 2009?</li><li>The number that got the highest votes was ~80% even though I mentioned the most recent number was ~68%.</li><li>I asked this question a couple of friends in real life too and they too picked the ~80% number.</li></ul>

During the weekend, I asked my twitter followers: What do you think Facebook's DAU to MAU ratio was in 2009?The number that got the highest votes was ~80% even though I mentioned the most recent number was ~68%.I asked this question a couple of friends in real life too and they too picked the ~80% number.

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.

<ul>
<li>5 Issues: Tough Comps, Supply Chain Disruptions, Reels MixShift, Apple IDFA, and TikTok...thats alot of issues</li>
<li>TikTok is pressuring engagement and Google is taking Facebook's advertising revenues.</li>
<li>Strong management team with history of executing at a trough valuation provides a good entry point. But may make more sense to just buy Google.</li>
</ul>


5 Issues: Tough Comps, Supply Chain Disruptions, Reels MixShift, Apple IDFA, and TikTok...thats alot of issues
TikTok is pressuring engagement and Google is taking Facebook's advertising revenues.
Strong management team with history of executing at a trough valuation provides a good entry point. But may make more sense to just buy Google.


Facebook 4Q21: Trending on TikTok ‘How to Lose $200B in Market Cap’

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.

<ul><li>Meta Platforms managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>On Facebook, engagement trends have been stronger than the company's management anticipated.</li><li>We give Meta Platforms a 'Hold' rating with a revised target price.</li></ul>

Meta Platforms managed to exceed analyst expectations in terms of revenue as well as earnings.On Facebook, engagement trends have been stronger than the company's management anticipated.We give Meta Platforms a 'Hold' rating with a revised target price.

Meta Platforms Inc.: Interesting Progress On The VR Front! – Key Drivers

United States

Meta Platforms Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. meta Platform is also involved in advertisements, augmented and virtual reality.

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Meta Platforms (Facebook) (META US)

Maxlinear and Silicon Motion, Vicor and Monolithic Power and New Product Launches

Maxlinear has a legal battle on it's hands, and what's the new product Vicor is talking about? Last week the best show in semiconductors was the...

Fabricated Knowledge

Google, Microsoft, Facebook and Nvidia: AI Spending Implications at the Hyperscalers

Google, Microsoft, and Facebook reported earnings. Let’s discuss their capex plans and what that means for our new data center champion, Nvidia. I...

Fabricated Knowledge

Meta's Moat

During the weekend, I asked my twitter followers: What do you think Facebook's DAU to MAU ratio was in 2009? The number that got the highest votes...

MBI Deep Dives

Meta Platforms Inc.: Interesting Progress On The VR Front! – Key Drivers

Meta Platforms managed to exceed analyst expectations in terms of revenue as well as earnings. On Facebook, engagement trends have been stronger...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Maxlinear and Silicon Motion, Vicor and Monolithic Power and New Product Launches

Maxlinear has a legal battle on it's hands, and what's the new product Vicor is talking about? Last week the best show in semiconductors was the...

Fabricated Knowledge

Google, Microsoft, Facebook and Nvidia: AI Spending Implications at the Hyperscalers

Google, Microsoft, and Facebook reported earnings. Let’s discuss their capex plans and what that means for our new data center champion, Nvidia. I...

Fabricated Knowledge

Meta's Moat

During the weekend, I asked my twitter followers: What do you think Facebook's DAU to MAU ratio was in 2009? The number that got the highest votes...

MBI Deep Dives

Facebook 4Q21: Trending on TikTok ‘How to Lose $200B in Market Cap’

TikTok's threat doesn’t impact the wave of monetization opportunities related to commerce, messaging, and the metaverse. FB trading at the same...

Aaron Gabin

Meta Platforms Inc.: Interesting Progress On The VR Front! – Key Drivers

Meta Platforms managed to exceed analyst expectations in terms of revenue as well as earnings. On Facebook, engagement trends have been stronger...

Baptista Research