Research

Written equity theses

Full-length theses on semiconductor companies: coverage initiations, updates, and the assumptions behind each call.

NOK Nokia (NOK): An AI-RAN and Data Center Networking Pivot, Validated by NVIDIA, Priced for the Transition to Pay Off Communications Equipment Jun 2026 SMCI Super Micro Computer (SMCI): Real AI Infrastructure Growth, Priced at a Premium to Peers, Clouded by Legal Overhang Data Center Infrastructure Jun 2026 MRVL Marvell Technology (MRVL): Custom Silicon, NVIDIA Validation, and a Macro-Driven Mispricing Semiconductors Mar 2026