Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Apple to Move One-Fifth of Its IPhone Production to India from China

TSMC Stops Taking New Orders from Huawei to Comply with US Export Control Laws

Luxshare’s Risky Chance to Be Apple’s Second Foxconn

Apple: Supply Chain Disruptions to Likely Impact Apple’s Production Plan

Apple 1QFY2020 Results: IPhone Sales Make a Comeback

Facebook-Jio Deal: Overvalued and More of a Rescue for Debt-Laden Jio Platforms

ByteDance Launches Music Streaming App in an Overcrowded Indian Music Streaming Market

Tencent-Backed WeDoctor Prepares for Listing; US$10bn Valuation Seems Too Ambitious

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Apple reported its 2QFY2020 results on 30<sup>th</sup> April after market which saw its revenues and operating profit beating consensus estimates. The quarterly revenue grew 0.5% YoY while OP declined 4.2% during the quarter. However, both revenue and OP were well above consensus estimates by 6.1% and 13.4% respectively.</li>
<li>The quarterly earnings from China were impacted due to the Coronavirus outbreak between January to March and the lock-downs in the rest of the world have been affecting the company earnings since mid-March.</li>
</ul>


Apple reported its 2QFY2020 results on 30th April after market which saw its revenues and operating profit beating consensus estimates. The quarterly revenue grew 0.5% YoY while OP declined 4.2% during the quarter. However, both revenue and OP were well above consensus estimates by 6.1% and 13.4% respectively.
The quarterly earnings from China were impacted due to the Coronavirus outbreak between January to March and the lock-downs in the rest of the world have been affecting the company earnings since mid-March.


Apple 2Q Results: Resilience Enough to Cope with the Covid-19 Pandemic