Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

Recent results from the Korean telcos show a continued pattern of a very benign operating and competitive environment with mid-single digit EBITDA growth and declining capex supporting OpFCF generation (up 55% in the last 18 months). 75% of the OpFCF recovery has been driven by lower capex and 9M16 capex numbers were well below FY16 guidance. Looking ahead, we expect capex to remain low (ahead of 5G). In the medium/longer-term we think the risk of a significant spike in capex spend for 5G is…

Recent results from the Korean telcos show a continued pattern of a very benign operating and competitive environment with mid-single digit EBITDA growth and declining capex supporting OpFCF generation (up 55% in the last 18 months). 75% of the OpFCF recovery has been driven by lower capex and 9M16 capex numbers were well below FY16 guidance. Looking ahead, we expect capex to remain low (ahead of 5G). In the medium/longer-term we think the risk of a significant spike in capex spend for 5G is…

Korean Telcos: Free Cash Flow Stability. KT Now Our Preferred Pick

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%.

Samsung shares are up 50% over the last year.Investors should take profits now.There is trouble ahead - Samsung is not ready for the next generation of technology cycles, all of which require a strong software ecosystem for long term success.

Samsung shares are up 50% over the last year.Investors should take profits now.There is trouble ahead - Samsung is not ready for the next generation of technology cycles, all of which require a strong software ecosystem for long term success.

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Alibaba Group Holding  / Equity Bottom-Up

Global sales of XiaoMi’s smartphones are projected to hit 65.6 million units in 2016, a 5% decline over the previous year. The decline contrasted sharply with another Chinese manufacturer, Huawei, which is forecast to sell <a target="_blank">111 million smartphones</a>, representing strong growth of 28%.

Global sales of XiaoMi’s smartphones are projected to hit 65.6 million units in 2016, a 5% decline over the previous year. The decline contrasted sharply with another Chinese manufacturer, Huawei, which is forecast to sell 111 million smartphones, representing strong growth of 28%.

XiaoMi Is a Threat to Amazon and Alibaba, Not Samsung

Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

While much has been written about blockchain and its applications in the financial services industry, one emerging trend is the use of blockchain for provenance. Provenance has become increasingly important in today's world as regulators, governments, citizens and non-governmental organizations demand transparency regarding trades, commodities, funds and meat. Increasingly, there is a demand to know the source of the entity at hand and blockchain, due to its very nature, has found itself well…

While much has been written about blockchain and its applications in the financial services industry, one emerging trend is the use of blockchain for provenance. Provenance has become increasingly important in today's world as regulators, governments, citizens and non-governmental organizations demand transparency regarding trades, commodities, funds and meat. Increasingly, there is a demand to know the source of the entity at hand and blockchain, due to its very nature, has found itself well…

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Thanks to Samsung's OLED supply to Apple, Apple seems to be getting all FPCBs needed for iPhone 8 from Korean parts makers: Interflex (051370), BH (090460) and Samsung E-M (009150). Korean local newspaper reported that Apple made it official to get FPCBs from these three Korean parts suppliers. Well, we already knew Samsung Display would be Apple's sole supplier for OLED, so many market participants got a feeling that Apple would turn to those suppliers in Samsung's supply chain for the other critical parts such as FPCB.

Thanks to Samsung's OLED supply to Apple, Apple seems to be getting all FPCBs needed for iPhone 8 from Korean parts makers: Interflex (051370), BH (090460) and Samsung E-M (009150). Korean local newspaper reported that Apple made it official to get FPCBs from these three Korean parts suppliers. Well, we already knew Samsung Display would be Apple's sole supplier for OLED, so many market participants got a feeling that Apple would turn to those suppliers in Samsung's supply chain for the other critical parts such as FPCB.

FPCB Maker Interflex Will Enjoy Module Supply Biz Model in Samsung's OLED Supply Chain

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (SMSD LI)

Korean Telcos: Free Cash Flow Stability. KT Now Our Preferred Pick

Recent results from the Korean telcos show a continued pattern of a very benign operating and competitive environment with mid-single digit EBITDA...

New Street Research

Samsung - Take Profits Now

Samsung shares are up 50% over the last year.Investors should take profits now.There is trouble ahead - Samsung is not ready for the next...

CM Research

XiaoMi Is a Threat to Amazon and Alibaba, Not Samsung

Global sales of XiaoMi’s smartphones are projected to hit 65.6 million units in 2016, a 5% decline over the previous year. The decline contrasted...

Euromonitor International Ltd.

Blockchain & Provenance

While much has been written about blockchain and its applications in the financial services industry, one emerging trend is the use of blockchain...

Ishita Jain

FPCB Maker Interflex Will Enjoy Module Supply Biz Model in Samsung's OLED Supply Chain

Thanks to Samsung's OLED supply to Apple, Apple seems to be getting all FPCBs needed for iPhone 8 from Korean parts makers: Interflex (051370), BH...

Sanghyun Park

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