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. recently presented its third quarter 2024 results with a range of operational and strategic updates which provide a mixed view of the company’s trajectory.</li><li>In terms of financial performance, Meta reported a robust quarter with revenues standing at $40.6 billion, reflecting a year-over-year increase of 19%.</li><li>This growth is primarily attributed to a continuous rise in the user base across its family of apps, supplemented by increasing adoption of advertisement technologies driven by AI enhancements.</li></ul>

Meta Platforms, Inc. recently presented its third quarter 2024 results with a range of operational and strategic updates which provide a mixed view of the company’s trajectory.In terms of financial performance, Meta reported a robust quarter with revenues standing at $40.6 billion, reflecting a year-over-year increase of 19%.This growth is primarily attributed to a continuous rise in the user base across its family of apps, supplemented by increasing adoption of advertisement technologies driven by AI enhancements.

Meta's AI-Powered Engagement Boost: What You’re Not Seeing Behind the Scenes!

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.

<ul><li>Daily Active People (DAP) across its Family of Apps (FOA) decelerated to 20 mn QoQ in 3Q’24.</li><li>Even though easy comp ended in 1Q’24 and 3Q’24 faced a fairly difficult comp, Meta posted quite strong YoY growth rates across regions in 3Q’24.</li><li>Meta’s Family of Apps (FOA) ads revenue growth is comfortably ahead of both Google Search and YouTube ads in each of the last 1-yr, 2-yr, and 3-yr timeframe.</li></ul>

Daily Active People (DAP) across its Family of Apps (FOA) decelerated to 20 mn QoQ in 3Q’24.Even though easy comp ended in 1Q’24 and 3Q’24 faced a fairly difficult comp, Meta posted quite strong YoY growth rates across regions in 3Q’24.Meta’s Family of Apps (FOA) ads revenue growth is comfortably ahead of both Google Search and YouTube ads in each of the last 1-yr, 2-yr, and 3-yr timeframe.

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

<ul><li>Facebook's original vision Pro demo showcased impressive technology with custom silicon and high miniaturization, but it is still far from being a consumer product.</li><li>Comparisons were made between Facebook's demo and Apple's vision Pro, highlighting different approaches to hardware development and philosophies.</li><li>Despite debates on shipping products and final designs, both companies are pushing the boundaries of technology and advancing towards a glasses form factor for AR/VR.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Facebook's original vision Pro demo showcased impressive technology with custom silicon and high miniaturization, but it is still far from being a consumer product.Comparisons were made between Facebook's demo and Apple's vision Pro, highlighting different approaches to hardware development and philosophies.Despite debates on shipping products and final designs, both companies are pushing the boundaries of technology and advancing towards a glasses form factor for AR/VR.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 87: Shrinking Silicon (Meta Orion) and Excited about Hardware Again!

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>TikTok's business model advantage: short form video creates greater signal for algorithmic addiction is forcing rivals to react (where possible).</li>
<li>META is best positioned to copy TikTok, and is trading at a valuation approximating cable networks during cord cutting.</li>
<li>Netflix is worst positioned... as YouTube, Instagram, and Snap incorporate TikTok's short form video, more attention will be drawn away from the streaming services. Tough spot to be in.</li>
</ul>


TikTok's business model advantage: short form video creates greater signal for algorithmic addiction is forcing rivals to react (where possible).
META is best positioned to copy TikTok, and is trading at a valuation approximating cable networks during cord cutting.
Netflix is worst positioned... as YouTube, Instagram, and Snap incorporate TikTok's short form video, more attention will be drawn away from the streaming services. Tough spot to be in.


India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Big Tech companies are already generating significant revenue from AI. Microsoft expects to reach $10 billion in AI revenue by the next quarter, making it their fastest-growing area.</li>
<li>In the third quarter of 2024 alone Microsoft, Google, and Meta collectively spent over $42 billion on AI infrastructure, primarily on building data centers and purchasing computing equipment.</li>
<li>Companies are projecting continued high spending on AI into 2025 to meet growing demand. However, challenges remain, including supply constraints for AI chips</li>
</ul>


Big Tech companies are already generating significant revenue from AI. Microsoft expects to reach $10 billion in AI revenue by the next quarter, making it their fastest-growing area.
In the third quarter of 2024 alone Microsoft, Google, and Meta collectively spent over $42 billion on AI infrastructure, primarily on building data centers and purchasing computing equipment.
Companies are projecting continued high spending on AI into 2025 to meet growing demand. However, challenges remain, including supply constraints for AI chips


Thematic Report: AI Wave- Big Tech's Spending Spree

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's AI-Powered Engagement Boost: What You’re Not Seeing Behind the Scenes!

Meta Platforms, Inc. recently presented its third quarter 2024 results with a range of operational and strategic updates which provide a mixed...

Baptista Research

Meta 3Q'24 Update

Even though easy comp ended in 1Q’24 and 3Q’24 faced a fairly difficult comp, Meta posted quite strong YoY growth rates across regions in 3Q’24.

MBI Deep Dives

Episode 87: Shrinking Silicon (Meta Orion) and Excited about Hardware Again!

Facebook showcased impressive technology at their demo, with similarities to Apple's vision, costing around $10,000 and aiming to lower it to...

The Circuit

TMT Pre-2Q Earnings: The TikTok Impact

TikTok is wreaking havoc on the advertising and streaming ecosystems by stealing attention. META is best positioned to respond, NFLX is least well...

Aaron Gabin

Thematic Report: AI Wave- Big Tech's Spending Spree

Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Meta's AI-Powered Engagement Boost: What You’re Not Seeing Behind the Scenes!

Meta Platforms, Inc. recently presented its third quarter 2024 results with a range of operational and strategic updates which provide a mixed...

Baptista Research

Meta 3Q'24 Update

Even though easy comp ended in 1Q’24 and 3Q’24 faced a fairly difficult comp, Meta posted quite strong YoY growth rates across regions in 3Q’24.

MBI Deep Dives

Episode 87: Shrinking Silicon (Meta Orion) and Excited about Hardware Again!

Facebook showcased impressive technology at their demo, with similarities to Apple's vision, costing around $10,000 and aiming to lower it to...

The Circuit

TMT Pre-2Q Earnings: The TikTok Impact

TikTok is wreaking havoc on the advertising and streaming ecosystems by stealing attention. META is best positioned to respond, NFLX is least well...

Aaron Gabin

Thematic Report: AI Wave- Big Tech's Spending Spree

​Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.

Sudarshan Bhandari

Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.