Jahanara Nissar

Versus the muted expectations on the Street for near-term iPhone momentum, we are long into print. The Street is inundated with chatter of order cuts at iPhone16. We take a more nuanced view and look for upside to Street’s lowered expectations for Dec quarter. Our expectation for Dec upside is not based on a boost […]

An article in Digitimes highlights large-scale problems in Samsung logic foundry operations, not very surprising given the negative outlook from ASML last month. This piles on top of the series of negative comments outlined in Samsung’s earnings call last week – DRAM/NAND capacity adjustments to normalize inventory, ongoing slowdown in smartphones, lackluster progress in HBM3e. […]

A darling of Wall Street until just a few months ago, SMCI now finds itself in financial, regulatory and legal purgatory. When we took a negative view on the stock into the previous earnings call, we could not have anticipated accounting problems and the existential threat the Company now faces (link). Into the previous earnings […]