reports
- Pierre FerraguÊ
Semicon West: 2026 outlook? Does AI drive growth? DRAM architectures? ...
Last week we attended the 2025 edition of the Semicon West conference, the key event for investors focused on the semiconductor equipment market. Over two days we hosted more than a dozen meetings with companies across the semiconductor value chain. Here are our key takeaways.
TSFA TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. SPONSORED ADR
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
LRCX LAM RESEARCH CORPORATION
AMAT APPLIED MATERIALS INC.
BSI BE SEMICONDUCTOR INDUSTRIES N.V.
2330 TSMC
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
8035 TOKYO ELECTRON LTD.
KLAC KLA CORPORATION
AMD ASML HOLDING N.V.
ASML ASML HOLDING NV
AVGO ADVANCED MICRO DEVICES INC.
SOH1 ASML
BESI BROADCOM INC.
SOITEC
- Antoine Legault
- Matthew Bryson
Daily Views on Tech Headlines
Samsung, Memory: Samsung expects CQ3 profit to grow 158% to ~12 Tr Won ($8.5B)View: Samsung yesterday announced its 3Q operating profit is expected to grow ~32% Y/Y to 12.1 trillion won ($8.5B), marking its highest levels since 2Q22 and far exceeding consensus of ~10 trillion won. Although detailed
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Wedbush Research
RARE ULTRAGENYX PHARMACEUTICAL INC.
QLYS QUALYS INC.
PANW PALO ALTO NETWORKS INC.
NVCR NOVOCURE LTD.
NBIX NEUROCRINE BIOSCIENCES INC.
KURA KURA ONCOLOGY INC.
FTNT FORTINET INC.
CYBR CYBERARK SOFTWARE LTD.
CHKP CHECK POINT SOFTWARE TECHNOLOGIES LTD.
BIIB BIOGEN INC.
BCRX BIOCRYST PHARMACEUTICALS INC.
ARDX ARDELYX INC
ISR ISORAY
APLS APELLIS PHARMACEUTICALS
DNLI DENALI THERAPEUTICS INC
RCUS ARCUS BIOSCIENCES
ZS ZSCALER INC.
TENB TENABLE HOLDINGS
ARVN ARVINAS HOLDING
CRWD CROWDSTRIKE HOLDINGS INC. CLASS A
DDOG DATADOG INC CLASS A
APRE APREA THERAPEUTICS
IDYA IDEAYA BIOSCIENCES
RVMD REVOLUTION MEDICINES
ORIC ORIC PHARMACEUTICALS
ZNTL ZENTALIS PHARMACEUTICALS
TVTX TRAVERE THERAPEUTICS INC
IMNM IMMUNOME
NUVB NUVATION BIO INC (A)
CGEM CULLINAN ONCOLOGY INC
DAWN DAY ONE BIOPHARMACEUTICALS INC
FHTX FOGHORN THERAPEUTICS
TNGX TANGO THERAPEUTICS
TCRX INC
GLUE TSCAN THERAPEUTICS INC
S MONTE ROSA THERAPEUTICS INC
TYRA SENTINELONE INC
NUVL TYRA BIOSCIENCES INC
CRBP NUVALENT INC
RBRK CORBUS PHARMACEUTICALS HOLDINGS INC.
BCAX RUBRIK INC
BBOT BICARA THERAPEUTICS INC.
BRIDGEBIO ONCOLOGY THERAPEUTICS INC
- Anish Jog
- Daniel Ives
- Matthew Weiss
- Sam Brandeis
- Scott Devitt
- Steven Wahrhaftig
Cybersecurity Channel Partner Feedback for September Quarter
CRWD: Continuing to Win, Separating from CompetitionCRWD came in 5-9% above plan as the company continues to gain momentum across Falcon Flex with improving sales options with its partner ecosystem, including OKTA and ZS, to drive stronger pipeline activity without any kind of channel stuffing. The
QLYS QUALYS INC.
PANW PALO ALTO NETWORKS INC.
FTNT FORTINET INC.
CYBR CYBERARK SOFTWARE LTD.
CHKP CHECK POINT SOFTWARE TECHNOLOGIES LTD.
OKTA OKTA INC. CLASS A
ZS ZSCALER INC.
TENB TENABLE HOLDINGS
CRWD CROWDSTRIKE HOLDINGS INC. CLASS A
DDOG DATADOG INC CLASS A
S SENTINELONE INC
RBRK RUBRIK INC
NVIDIA DGX Spark Arrives for World’s AI Developers
NVIDIA DGX Spark Arrives for World’s AI Developers News Summary: NVIDIA founder and CEO Jensen Huang delivers DGX Spark to Elon Musk at SpaceX.This week, NVIDIA and its partners are shipping DGX Spark, the world’s smallest AI supercomputer, delivering NVIDIA’s AI stack in a compact desktop form factor.Acer, ASUS, Dell Technologies, GIGABYTE, HPI, Lenovo and MSI debut DGX Spark systems, expanding access to powerful AI computing.Built on the NVIDIA Grace Blackwell architecture, DGX Spark integrates NVIDIA GPUs, CPUs, networking, CUDA libraries and NVIDIA AI software, accelerating agentic and...
NVIDIA Spectrum-X Ethernet Switches Speed Up Networks for Meta and Ora...
NVIDIA Spectrum-X Ethernet Switches Speed Up Networks for Meta and Oracle Hyperscalers Broaden Adoption of NVIDIA Networking Solutions to Drive Giga-Scale AI Data Center Performance News Summary: Meta to introduce switches built on NVIDIA Spectrum Ethernet for its Facebook Open Switching System platform. Oracle to build giga-scale AI supercomputers with Spectrum-X Ethernet switches. SAN JOSE, Calif., Oct. 13, 2025 (GLOBE NEWSWIRE) -- NVIDIA today announced that Meta and Oracle will boost their AI data center networks with ™ Ethernet networking switches. Meta and Oracle are standa...
- Gary Brode
- Antoine Legault
- Matthew Bryson
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
NVIDIA Corp: 1 director
A director at NVIDIA Corp sold 225,000 shares at 190.601USD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
- William Nestuk
QCOM QUALCOMM INC
ORCL ORACLE CORPORATION
NVDA NVIDIA CORPORATION
6383 DAIFUKU CO. LTD.
6954 FANUC CORPORATION
6702 FUJITSU LIMITED
6504 FUJI ELECTRIC CO. LTD.
6503 MITSUBISHI ELECTRIC CORP.
6645 OMRON CORPORATION
6268 NABTESCO CORPORATION
6273 SMC CORPORATION
9984 SOFTBANK GROUP CORP.
6506 YASKAWA ELECTRIC CORPORATION
6324 JT HARMONIC DRIVE SYSTEMS
- Antoine Legault
- Matthew Bryson
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Wedbush Research
WDC WESTERN DIGITAL CORPORATION
TSLA TESLA INC
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
PTGX PROTAGONIST THERAPEUTICS
ANAB ANAPTYSBIO INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
STTK SHATTUCK LABS
STX SEAGATE TECHNOLOGY HLDGS PLC
GFS GLOBALFOUNDRIES INC
SYRE SPYRE THERAPEUTICS INC.
DBD DIEBOLD NIXDORF INCORPORATED
- Antoine Legault
- Matthew Bryson
Insight Focus on Product Advancements or Fundamentals?
Higher Memory CostsNTAP historically has been somewhat less adept than its peers during periods when memory costs fluctuate.We would not expect any impact on current quarter dynamics or even potentially FQ3 economics given our belief that NTAP pulled some storage purchases forward into CQ2.However,
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
STX SEAGATE TECHNOLOGY HLDGS PLC
GFS GLOBALFOUNDRIES INC
DBD DIEBOLD NIXDORF INCORPORATED
- Antoine Legault
- Matthew Bryson
Daily Views on Tech Headlines
Samsung, NVDA: Jensen Huang reportedly confirms Samsung’s HBM3e qualView: Per News1 Korea, Jensen has personally informed Samsung that its HBM3e has passed NVIDIA’s quality qualification tests and that NVDA intends to place orders. The two companies, in turn, are now reportedly fine-tuning details
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Wedbush Research
TSLA TESLA INC
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
ARVN ARVINAS HOLDING
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
ZBIO GLOBALFOUNDRIES INC
ZENAS BIOPHARMA INC.
- Antoine Legault
- Matthew Bryson
TSLA TESLA INC
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Pierre FerraguÊ
Oracle AI cloud margins: Much ado about nothing
The Information reported yesterday that Oracle’s AI cloud margins are in the high teens. Accounting for typical start-up costs, this aligns well with our analysis of the $300bn OpenAI contract. Please see the link for our analysis of Oracle's AI cloud economics over the next 10 years and the implications for overall gross margins.
- Antoine Legault
- Matthew Bryson
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
Palo Alto Networks Inc: 1 director
Three Directors at Palo Alto Networks Inc bought/sold after exercising options/sold 121,732 shares at between 0.000USD and 211.923USD. The significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary ...
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