Research

Written equity theses

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

RDDT Internet / Digital Advertising Buy Reddit (RDDT): A Rare Capital-Light Compounder, Priced Like One Jul 2026 Updated RKLB Space & Defense Speculative Buy Rocket Lab (RKLB): Building the Whole Stack, Priced on One Launch Jun 2026 NOK Communications Equipment Buy Nokia (NOK): An AI-RAN and Data Center Networking Pivot, Validated by NVIDIA, Priced for the Transition to Pay Off Jun 2026 SMCI Data Center Infrastructure Speculative Buy Super Micro Computer (SMCI): Real AI Infrastructure Growth, Priced at a Premium to Peers, Clouded by Legal Overhang Jun 2026 MRVL Semiconductors Hold / Trim Marvell Technology (MRVL): Custom Silicon, NVIDIA Validation, and a Macro-Driven Mispricing Mar 2026