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.

Thematic (Sector/Industry)

<ul><li><p>This is my quarterly piece, where I round up all of my favorite ideas (more explicitly) and explain some semiconductor jargon. This is a meta piece of content.</p></li><li>First and foremost, I’ll start with performance. SMH returned 14% this quarter, among the best quarters in history for the semiconductor universe (again).</li><li>This quarter's leader was AOSL, who is rumored to have won a socket at Nvidia.</li></ul>

This is my quarterly piece, where I round up all of my favorite ideas (more explicitly) and explain some semiconductor jargon. This is a meta piece of content.First and foremost, I’ll start with performance. SMH returned 14% this quarter, among the best quarters in history for the semiconductor universe (again).This quarter's leader was AOSL, who is rumored to have won a socket at Nvidia.

Fabricated Knowledge Q2 2024 Quarterly Review

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.</li>
<li>This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.</li>
<li>We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass</li>
</ul>


Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.
This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.
We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass


Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>Bitcoin mining is booming in the United States and we expect ~2.5 GW of new cumulative mining capacity will be added by crypto mining companies in the U.S. this year. </li>
<li>Today, Foundry USA is the biggest mining pool globally, and North America has been the clear beneficiary of China’s cryptocurrency ban in 2021.</li>
<li>We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot Blockchain with Neutral.  </li>
</ul>


Bitcoin mining is booming in the United States and we expect ~2.5 GW of new cumulative mining capacity will be added by crypto mining companies in the U.S. this year. 
Today, Foundry USA is the biggest mining pool globally, and North America has been the clear beneficiary of China’s cryptocurrency ban in 2021.
We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot Blockchain with Neutral.  


Crypto Mining Industry Series: Let The Crypto Miners Rush Begin

United States

EVERTEC Inc. operates a full service transaction processing business. The Company offers merchant acquiring, payment processing and business process management services.  EVERTEC Inc. provides its services in Latin America and the Caribbean.

Evo Payments, Inc. operates as a payment technology and services provider. The Company offers payment solutions to the merchants ranging from micro-enterprises to multinational companies and organizations. Evo Payments serves customers North America and Europe.

CSG Systems International, Inc. provides customer care and billing solutions for cable television providers, direct broadcast satellite providers, on-line services markets, and telephony providers. The Company offers a suite of processing and related services, as well as software and professional services which automate customer care and billing functions.

MoneyGram International, Inc. provides payment services to consumers and businesses through a network of agents and its financial institution customers. The Company enables consumers to make payments and to transfer money around the world.

Perficient, Inc. is an information technology consulting firm. The Firm designs and delivers business-driven information technology solutions, such as business analysis, portal, content management, business integration/SOA, commerce. business intelligence and customer relation management (CRM). Perficient serves clients from a network of domestic and global locations.

Sabre Corporation provides technology solutions to the global travel and tourism industry. The Company offers tours and travel services, as well as, online reservations for airlines, hotels, cruises, car rental companies, and vacation packages.

Fastly, Inc. provides infrastructure software. The Company offers cloud computing, image optimization, security, edge computer technology, and streaming solutions. Fastly serves customers in the United States.

Teradata Corp operates as a database management company in the technology industry. The company offers analytic data solutions through integrated data warehousing, big data analytics, and business applications.  Teradata Corp collaborates with leading innovators in software, technology, and integration services.

Everi Holdings Inc., operates as a holding company. The Company, through its subsidiary, designs, develops, and manufactures casino games, as well as provides cash access and customer relationship marketing technologies to the gaming industry. Everi delivers products and services to gaming properties worldwide.

Boku, Inc. provides online mobile payment services. The Company offers a payment platform that integrates into mobile network operator protocol and enables people to pay for the goods using their mobile phone. Boku serves customers worldwide.

Net One Systems Co., Ltd. designs, installs, maintains and supports computer network systems.  The company also installs computer security related products and integrated audio visual data communication environment system by applying IP (Internet Protocol) technology.  Net One Systems builds virtualized data center environment as well.

Firstsource Solutions Limited provides business process outsourcing services. The Company provides services globally to companies in the banking, financial services, and insurance industries.

Hwa Create Co., Ltd. develops, manufactures, and sells system simulation technologies and solutions.  The Company's products include real time test-and-control systems, projection system integration solutions, and visualization simulation systems.

INFOCOM CORPORATION provides business solutions in information technology.  The Company offers services in such fields as health care, mobile communications, network security, voice recognition, and enterprise resource planning (ERP) systems.  Infocom also provides information distribution and systems management services.

Sonata Software Limited operates an Information Technology company, which provides software products, development services, IT consulting, and a number of business solutions services.  The Group exports its products primarily to the U.S.A., Europe and Asia.

eClerx Services Limited provides data analytics and solutions to global enterprise clients in the financial services, retail and manufacturing industries. The Company offers data analytics, operations management, data audits, metrics management and reporting services.

My E.G. Services Bhd provides E-Services between the Malaysian Government and its citizens and businesses.  The Company's services include electronic delivery of driver and vehicle registrations, licensing and summons services and utility bill payments.

Taiji Computer Corporation Limited develops, designs, manufactures, sells and repair computer, integrated circuit, software and communication equipment. The Company's services include industry-specific solution, IT consulting, value-added services, and IT infrastructure services.

China TransInfo Technology Co., Ltd. develops industry specific software and provides information system integration services.  The Company's services include IT system design, IT management and consultation, and IT system maintenance.

Information Services International-Dentsu, Ltd. provides integrated business solutions.  The Company plans, designs, develops, and maintains systems and provides consulting services, hardware configuration, and software support. Information Service International-Dentsu sells software and hardware as well.

TeraWulf, Inc. was formed to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States. TeraWulf will generate domestically produced bitcoin powered by nuclear, hydro and solar energy.

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TeraWulf (WULF US)

Fabricated Knowledge Q2 2024 Quarterly Review

Here's everything that happened this quarter, and some thoughts and ideas. This is my quarterly piece, where I round up all of my favorite ideas...

Fabricated Knowledge

Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Remain Overweight Large-Cap Growth $IWF as discussed 5/29/24; Downgrading Materials $XLB to Underweight; Buy/Stay Long Software Stocks $IGV $MSFT...

Vermilion Research

Crypto Mining Industry Series: Let The Crypto Miners Rush Begin

We see a huge untapped opportunity for Bitcoin mining companies. We initiate Marathon Digital Holdings with Overweight and Cipher Mining and Riot...

Andrei Zakharov

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