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 Bottom-Up

Meta Platforms (Facebook) / Equity Bottom-Up

<ul><li>Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological advancements.</li><li>The company noted an increase in total revenue to $39.1 billion, a 22% year-over-year rise, primarily driven by the advertising segment.</li><li>The impressive surge in revenue is also backed by a solid performance across ad engagements and the continuous rollout of AI-driven services and innovations.</li></ul>

Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological advancements.The company noted an increase in total revenue to $39.1 billion, a 22% year-over-year rise, primarily driven by the advertising segment.The impressive surge in revenue is also backed by a solid performance across ad engagements and the continuous rollout of AI-driven services and innovations.

Meta Platforms: Strengthening Market Position in the Smart Glasses Market & Other Major Developments! - Financial Forecasts

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Meta's Q2 revenue of $39.1B surpassed expectations, up 22% YoY. EPS jumped 73% YoY to $5.16, beating estimates.</li>
<li>Ad revenue within the Family of Apps rose 22% YoY, driven by online commerce and strong performance in Europe and the Rest of the World.</li>
<li>Q3 revenue forecasted between $38.5B and $41B. Meta’s AI investments are set to enhance ad delivery and support long-term growth, despite increasing CapEx.</li>
</ul>


Meta's Q2 revenue of $39.1B surpassed expectations, up 22% YoY. EPS jumped 73% YoY to $5.16, beating estimates.
Ad revenue within the Family of Apps rose 22% YoY, driven by online commerce and strong performance in Europe and the Rest of the World.
Q3 revenue forecasted between $38.5B and $41B. Meta’s AI investments are set to enhance ad delivery and support long-term growth, despite increasing CapEx.


Meta Surges 7% on Strong Q2 Report; Driven by Ad Growth, Q3 Forecast and AI Investments

<ul>
<li>Meta is expected to report a 58% YoY increase in EPS to $4.71, with revenue climbing 20% YoY to $38.29B, driven by robust ad performance.</li>
<li>Meta plans a 20% cut in Reality Labs' budget through 2026, aiming to save $3B while shifting focus to upcoming hardware production.</li>
<li>In Q1, increased daily active users and a 6% rise in average ad prices have boosted Meta’s ad revenue, despite heightened competition and regulatory pressures. Likely to continue.</li>
</ul>


Meta is expected to report a 58% YoY increase in EPS to $4.71, with revenue climbing 20% YoY to $38.29B, driven by robust ad performance.
Meta plans a 20% cut in Reality Labs' budget through 2026, aiming to save $3B while shifting focus to upcoming hardware production.
In Q1, increased daily active users and a 6% rise in average ad prices have boosted Meta’s ad revenue, despite heightened competition and regulatory pressures. Likely to continue.


[Q2 Earnings Preview] Meta's Ad Revenues Expected to Surge, But Rising Spend Remains a Concern

Asia and Global Semiconductor and Tech Research

Andrew Lu

<ul>
<li>Post 35% price gain in a quarter, many good news we expected and other analysts expected already factored into the share price. We believe the risk/reward not attractive here.</li>
<li>TSMC guides stronger 1Q24 and 2024, helped by Nvidia and copy cat AI GPU/ASIC orders. We see greater opportunities for alternative copy cat solutions like AMD and Alchip.</li>
<li>We attribute Nvidia customers' sales discrepancy to AI server is cannibalizing non-AI server and Nvidia is allocating more GPUs to premium price paying customers in 1H24 and reverse in 2H24.</li>
</ul>


Post 35% price gain in a quarter, many good news we expected and other analysts expected already factored into the share price. We believe the risk/reward not attractive here.
TSMC guides stronger 1Q24 and 2024, helped by Nvidia and copy cat AI GPU/ASIC orders. We see greater opportunities for alternative copy cat solutions like AMD and Alchip.
We attribute Nvidia customers' sales discrepancy to AI server is cannibalizing non-AI server and Nvidia is allocating more GPUs to premium price paying customers in 1H24 and reverse in 2H24.


From Nvidia Results to See Supply Chain Stories?

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.

<ul><li>KLA had a rare miss. The guidance was a bit light for the inspection execution machine.</li><li>KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.</li><li>KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91</li></ul>

KLA had a rare miss. The guidance was a bit light for the inspection execution machine.KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

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)

Meta Platforms: Strengthening Market Position in the Smart Glasses Market & Other Major Developments! - Financial Forecasts

Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological...

Baptista Research

Meta Surges 7% on Strong Q2 Report; Driven by Ad Growth, Q3 Forecast and AI Investments

Meta's Q2 revenue hits $39.1B (+22% YoY) with earnings at $5.16/share (+73% YoY). Shares climbed 7% after exceeding forecasts and offering a robust...

Mint Finance

[Q2 Earnings Preview] Meta's Ad Revenues Expected to Surge, But Rising Spend Remains a Concern

Meta to report Q2 earnings on 31/July, with expected EPS of $4.71 (+58% YoY) and revenue of $38.29B(+20% YoY). Investors look forward to strong ad...

Mint Finance

From Nvidia Results to See Supply Chain Stories?

From Nvidia Results to See Supply Chain Stories? Post 35% price gain in a quarter, many good news already factored into the share price. We...

Andrew Lu

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Another week of earnings, with KLA having a rare miss and the guidance being a bit light for the inspection execution machine.

Fabricated Knowledge

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