NVDA

Encouraging News Regarding Worldwide PC Shipments

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You may not have noticed it, but Intel (INTC) has rallied nearly seven points since the bottom established in late 2012 – that’s roughly a 40%+ upward advance through today. On Wednesday, International Data Corp (IDC) released some very good news for the PC supply chain. Though worldwide personal computer (PC) shipments continued to decline during the first quarter of 2014, the pace of the fall was nearly a percentage point better than expected (-4.4% versus -5.3% forecast, -5.6% in the fourth quarter, and -7.3% in the third quarter). Much of the upside surprise during the period came from mature commercial markets as technical support for Windows XP expired. After eight consecutive quarters of declines in worldwide PC shipments, we’re … Read more

PC Shipments Expected To Stabilize

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According to data released by the International Data Corporation (IDC) Worldwide Quarterly PC Tracker on December 2, personal computer (PC) shipments are now expected to drop more than 10% in 2013, slightly below the previous projection of -9.7%. Though 2013 will be the most severe yearly contraction on record, this news wasn’t the key takeaway. Instead, it was expectations for stabilizing demand by 2015 that provided a shot of optimism to the PC supply chain (see image below). Image Source: IDC The commentary provided by IDC was not terribly exciting, but market expectations are closer to the PC going the way of the dodo than stabilizing at just over 300 million units (roughly 2008 levels). We continue to believe that … Read more

Our Thoughts on the Widespread Launch of 5G Services

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Image Shown: The evolution of wireless networks and telecommunications technology over the years. Image Source: Intel Corporation – November 2019 State of 5G Presentation  By Callum Turcan The rollout of 5G telecommunication networks is upon us and we want to draw our members’ attention to some of the key companies with meaningful exposure to this space. Many are excited about what opportunities 5G technology could enable. Background On July 23, AT&T Inc (T) announced its 5G network in the US was operational nationwide and that effective August 7, both consumers and businesses with certain packages would have 5G access “at no additional cost” which included customers with AT&T Unlimited Starter, Extra, Elite, AT&T Business Unlimited Web-Only and Starter wireless plans. … Read more

Valuentum: Now Bearish, We’ve Been Here Every Step of the Way

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Valuentum Has Been Here Every Step of the Way   From the COVID-19 top in February 2020 to the COVID-19 bottom to the massive bull run through the end of 2021, we’ve been here for you.    2022 started out to be a rough year, catching many by surprise.   But Valuentum stayed positive. When the markets headed south in June, Valuentum stood its ground. On June 14, Valuentum said that “we still believe stocks could make a “huge rebound” in the near term.   We reiterated our views a few days later and on June 19, we said that “investors shouldn’t panic during this bear market” and that “stocks remain an attractive proposition at the moment and a very attractive consideration … Read more

How Do We Use the Valuentum Buying Index?

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How Do We Use the Valuentum Buying Index (VBI)? By Brian Nelson, CFA   Hi everyone,     Hope you are doing great!  We often receive questions about how we use the Valuentum Buying Index (VBI) rating system, one of the key metrics we use to source ideas for our members, but we think it is equally important to mention up front that the VBI is only one of the many facets of our website and services. For example, if you haven’t checked out the Dividend Cushion ratios on the stocks in your portfolio or the dividend growth product (from individual reports to the newsletter and beyond), surely you are not maximizing your membership! Don’t forget about the Economic Castle rating, … Read more

There Is Milk At The Store

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This article first appeared in the September edition of the High Yield Dividend Newsletter. For more information about this publication, please see here. “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” — Winston Churchill By Brian Nelson, CFA Very few of us could have imagined that we’d witness the bull market that began on that fateful day in March 2009 that might very well mark a generational low. In 2009, major investment banks around the globe were struggling to survive, and the fallout in the mortgage markets left the banks holding paper that nobody wanted to own, let alone buy. The global financial system … Read more

Taiwan Semiconductor’s Shares May Have Bottomed

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Image: We’re liking the technical bottom forming in Taiwan Semiconductor’s shares. Image Source: TradingView By Brian Nelson, CFA Everyone has their eyes on Taiwan Semiconductor (TSM) these days. The firm is the center of attention with respect to Sino-American relations, and the risk that China may invade Taiwan has added a degree of uncertainty to shares that is almost impossible to quantify within general valuation frameworks. Headquartered in Hsinchu, Taiwan, the world’s largest pure-play semiconductor foundry is a key bellwether for an area within technology that has faced considerable pressure during the past year. However, from our perspective, shares of Taiwan Semiconductor look to have carved out what we believe to be a technical bottom, and the high end of … Read more

Nelson: The 16 Most Important Steps To Understand The Stock Market

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A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more

8 Announcements and Top Research You May Have Missed

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8 Announcements. This article was sent to members via email March 27. By Brian Nelson, CFA Hi everyone, Brian here. Trust you are doing great! Here are eight announcements I want you to be aware of: Everything we do is for our members. We’re very proud of the outperformance of the Best Ideas Newsletter portfolio, that we’ve never had a dividend cut in the Dividend Growth Newsletter portfolio, that our high-yield ideas are holding up very well, and the success rates of the Exclusive capital-appreciation ideas and short-idea considerations are running at approximately 80%. We’re proud to be your research partner. The odds of a Fed rate cut are going up as yield-curve inversion continues to threaten. The risks are more behavioral in … Read more

ASML Holding Is a Tremendous Enterprise, Holds Fantastic Competitive Position

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Image Source: ASML Holding NV – 2021 Annual Report By Callum Turcan The Dutch firm ASML Holding NV (ASML) makes the photolithography systems used by semiconductor foundries to produce “chips” that power the modern economy. In part due to its immense technological lead over its competitors, ASML Holding effectively has a monopoly at the high end of its industry, meaning its photolithography systems are required to produce the most advanced semiconductor components. The company also offers semiconductor equipment services and stands to gain immensely from ongoing growth in its installed equipment base. We’re huge fans of the company. ASML Holding is a firm that we provide ongoing valuation coverage of in our periodic financial statements webinar. Be sure to sign … Read more