Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Equity Bottom-Up

<ul>
<li>
<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)'s</a> underperformance to <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> just part of the cycle or company specific?</li>
<li>Does the supply constraint issue help or hurt Samsung?  Who is better off? </li>
<li>Key points to focus on to see where Samsung is vs. their blueprint of technology roadmap</li>
</ul>



Samsung Electronics (005930 KS)'s underperformance to SK Hynix (000660 KS) just part of the cycle or company specific?
Does the supply constraint issue help or hurt Samsung?  Who is better off? 
Key points to focus on to see where Samsung is vs. their blueprint of technology roadmap


Is Samsung in Trouble or Just in Another Downcycle?

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>The 1Q22 revenue beat the prior guidance, GM was in-line the guidance. The guidance is within our expectation in 2Q22.  </li>
<li>MediaTek believes they shall be on the right track to grow revenue 20% and the GM 48-50%, and MediaTek has a 3-year target to grow mid-teens percentage from 2022.</li>
<li>For shareholders, the board had approved NTD$37 for cash dividend in this year.</li>
</ul>


The 1Q22 revenue beat the prior guidance, GM was in-line the guidance. The guidance is within our expectation in 2Q22.  
MediaTek believes they shall be on the right track to grow revenue 20% and the GM 48-50%, and MediaTek has a 3-year target to grow mid-teens percentage from 2022.
For shareholders, the board had approved NTD$37 for cash dividend in this year.


MediaTek (2454.TT): 1Q22 Results/ 2Q22 Outlook-1Q Revenue Beat, 2Q22 Forecast Is in Line.

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.

Credit

<ul><li>As the story of the global chips shortage continues, Qualcomm continued to deliver a strong financial performance across 2021 and has started 2022 on a positive note as well.</li><li>The company’s multi-sourcing and capacity expansion initiatives should provide incremental improvements to their supply throughout the year, despite ongoing challenges in the global supply chain.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

As the story of the global chips shortage continues, Qualcomm continued to deliver a strong financial performance across 2021 and has started 2022 on a positive note as well.The company’s multi-sourcing and capacity expansion initiatives should provide incremental improvements to their supply throughout the year, despite ongoing challenges in the global supply chain.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Qualcomm Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

<ul><li>Qualcomm reported a strong set of financial results to kickstart the new fiscal year and also provided a strong fiscal second-quarter guidance.</li><li>The company’s multi-sourcing and capacity expansion initiatives should provide incremental improvements to their supply throughout the year, despite ongoing challenges in the global supply chain.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Qualcomm reported a strong set of financial results to kickstart the new fiscal year and also provided a strong fiscal second-quarter guidance.The company’s multi-sourcing and capacity expansion initiatives should provide incremental improvements to their supply throughout the year, despite ongoing challenges in the global supply chain.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Qualcomm Inc.: Financial & Price Forecasts

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>The semiconductor market is now 45% above its normal revenue trend.</li>
<li>This situation is driven mostly by today's COVID-related demand changes.</li>
<li>Eventually the market will return to its normal growth, with revenues dropping by over 30%.</li>
</ul>


The semiconductor market is now 45% above its normal revenue trend.
This situation is driven mostly by today's COVID-related demand changes.
Eventually the market will return to its normal growth, with revenues dropping by over 30%.


Semiconductor Revenues Remain Well Above Trend

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)

Is Samsung in Trouble or Just in Another Downcycle?

Samsung will need to really show that they are not falling behind in terms of technology leadership seems to be the focal point of the remainder of...

Ken S. Kim

MediaTek (2454.TT): 1Q22 Results/ 2Q22 Outlook-1Q Revenue Beat, 2Q22 Forecast Is in Line.

The 1Q22 revenue was beating the prior guidance, GM was in-line the guidance. The guidance is within our expectation in 2Q22. MediaTek believes to...

Patrick Liao

Qualcomm Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

As the story of the global chips shortage continues, Qualcomm continued to deliver a strong financial performance across 2021 and has started 2022...

Baptista Research

Qualcomm Inc.: Financial & Price Forecasts

Qualcomm reported a strong set of financial results to kickstart the new fiscal year and also provided a strong fiscal second-quarter...

Baptista Research

Semiconductor Revenues Remain Well Above Trend

Semiconductors are 45% above their long-term revenue trend. This is poised to continue for the near term, but a big change will occur further out.

Jim Handy

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