Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>Intel faces two class action lawsuits, one of which has the potential to be many times worse than the "Pentium Flaw" fiasco in 1994</li>
<li>The resignation of Lip-Bu Tan from Intel's BoD is a significant blow particularly in view of his rumoured disagreements with the CEO and other BoD members</li>
<li>Intel's below book value market cap presents an attractive opportunity for any consortium with the vision to extract the value that Gelsinger's IDM 2.0 gambit has failed to unlock</li>
</ul>


Intel faces two class action lawsuits, one of which has the potential to be many times worse than the "Pentium Flaw" fiasco in 1994
The resignation of Lip-Bu Tan from Intel's BoD is a significant blow particularly in view of his rumoured disagreements with the CEO and other BoD members
Intel's below book value market cap presents an attractive opportunity for any consortium with the vision to extract the value that Gelsinger's IDM 2.0 gambit has failed to unlock


Intel. Could Things Get Any Worse? You Bet. Here's How.

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Hon Hai Precision Industry / Equity Bottom-Up

<ul><li>Post-China supply chain reevaluation in ASEAN offers strategic shifts and growth opportunities for businesses.</li><li>Peak season does not improve 3Q24 memory spot pricing, with overall market trends remaining stable.</li><li>Generative AI market set to reach $1.5T by 2030, with Taiwan leading in hardware development; software &amp; services also show promising future growth.</li></ul>

Post-China supply chain reevaluation in ASEAN offers strategic shifts and growth opportunities for businesses.Peak season does not improve 3Q24 memory spot pricing, with overall market trends remaining stable.Generative AI market set to reach $1.5T by 2030, with Taiwan leading in hardware development; software &amp; services also show promising future growth.

Tech Supply Chain Tracker (03-Sep-2024): Supply chain shifts in ASEAN post China

<ul><li>Samsung's foundry service growth is driven by AI, HPC, and automotive sectors, showcasing a diverse and promising market strategy.</li><li>Meta is set to launch glasses-like MR device in 2027, aiming to revolutionize the way we interact with technology and the digital world.</li><li>Global OSAT industry is projected to experience significant growth by 2024, fueled by increasing demand for testing and packaging services in the semiconductor market.</li></ul>

Samsung's foundry service growth is driven by AI, HPC, and automotive sectors, showcasing a diverse and promising market strategy.Meta is set to launch glasses-like MR device in 2027, aiming to revolutionize the way we interact with technology and the digital world.Global OSAT industry is projected to experience significant growth by 2024, fueled by increasing demand for testing and packaging services in the semiconductor market.

Tech Supply Chain Tracker (31-Aug-2024): Samsung's growth depends on AI, HPC, autos.

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.

Thematic (Sector/Industry)

<ul>
<li>Vanguard’s 95.3% reduction in TSMC holdings underscores concerns over geopolitical tensions and supply chain risks impacting the semiconductor sector’s stability and future growth. </li>
<li>Citadel’s 876% increase in Thermo Fisher shares reflects strong confidence in the healthcare sector, particularly in companies poised to benefit from technological advancements and market expansion. </li>
<li>Berkshire Hathaway’s 49.3% cut in Apple holdings suggests a strategic move to lock in profits after significant gains, while reallocating capital to less volatile investments.</li>
</ul>


Vanguard’s 95.3% reduction in TSMC holdings underscores concerns over geopolitical tensions and supply chain risks impacting the semiconductor sector’s stability and future growth. 
Citadel’s 876% increase in Thermo Fisher shares reflects strong confidence in the healthcare sector, particularly in companies poised to benefit from technological advancements and market expansion. 
Berkshire Hathaway’s 49.3% cut in Apple holdings suggests a strategic move to lock in profits after significant gains, while reallocating capital to less volatile investments.


Institutions Adjust Portfolios Amid Economic Uncertainty and Market Volatility (13F Filings 30/Jun)

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Nvidia, Dell, Marvell results coming out this week.. Apple iPhone 16 Reveal September 9th?</li>
<li>Micron progressing on potential Taiwan capacity expansion due to strong HBM DRAM demand</li>
<li>AMD acquires a key U.S. server systems integrator, expanding its enterprise server opportunity in a market including Taiwan's server ODM players such as Hon Hai, Wiwynn, Inventec, Quanta, and Compal.</li>
</ul>


Nvidia, Dell, Marvell results coming out this week.. Apple iPhone 16 Reveal September 9th?
Micron progressing on potential Taiwan capacity expansion due to strong HBM DRAM demand
AMD acquires a key U.S. server systems integrator, expanding its enterprise server opportunity in a market including Taiwan's server ODM players such as Hon Hai, Wiwynn, Inventec, Quanta, and Compal.


Taiwan Tech Weekly: Nvidia Results Imminent; Apple IPhone 16 Reveal Date; Micron's Taiwan Expansion

Taiwan

Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits based on its proprietary designs.  The Company offers a comprehensive set of integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode, volatile and non-volatile memory and BiCMOS chips.  Taiwan Semiconductor is an affiliate of Philips Electronics N.V.

Taiwan Semiconductor (TSMC) - ADR (TSM US)

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Taiwan Semiconductor (TSMC) - ADR (TSM US)

Intel. Could Things Get Any Worse? You Bet. Here's How.

Class action lawsuits, key BoD resignation, recriminations, an open door for hostile takeovers and revisionist commentary from the CEO. Yes, things...

William Keating

Tech Supply Chain Tracker (03-Sep-2024): Supply chain shifts in ASEAN post China

Colley Hwang discusses ASEAN expansion post-China, Peak season does not boost 3Q24 memory spot pricing, while Generative AI market expected to...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (31-Aug-2024): Samsung's growth depends on AI, HPC, autos.

Samsung's foundry service growth relies on AI, HPC, and automotive sectors, Meta developing glasses-like MR device set for 2027 launch, projected...

Tech Supply Chain Tracker

Institutions Adjust Portfolios Amid Economic Uncertainty and Market Volatility (13F Filings 30/Jun)

Investors are moving away from overvalued tech stocks towards undervalued sectors like infrastructure and healthcare due to increasing economic...

Mint Finance

Taiwan Tech Weekly: Nvidia Results Imminent; Apple IPhone 16 Reveal Date; Micron's Taiwan Expansion

Nvidia, Dell, and Marvell to soon release results, while Micron considers Taiwan expansion and AMD acquires U.S. server integrator in industry of...

Vincent Fernando, CFA

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