Three Products, One Firm


Fox Advisors covers a range of companies related to electronics supply chains, automotive technologies, and storage. No other provider covers these industries with such accuracy, consistency, and integrity.

Detail-Oriented Research


25+ years of sell side equity research experience gives Steve the corporate access, industry insights, creativity, and experience needed to produce meaningful research geared towards helping clients generate alpha.

Opinionated Recommendations


At Fox Advisors, we pride ourselves in the fact that we always make opinionated, fact-based recommendations. We are known for our specific buy/sell recommendations for the companies in our coverage universe.

Fox Advisors:
Unparalleled Expertise

The team at Fox Advisors strives to understand and articulate emerging and established secular trends related to a wide range of electronic component applications, automotive technologies, Transportation-as-a-Service (TaaS) and other shared networks plus storage products in order to aid our clients in their investment process. Our approach leverages bottoms-up supply chain analysis, deep-rooted corporate connections, and insights derived from industry trade shows and regulatory updates to develop consistent, detailed, opinionated research that our clients trust and rely on.

Read More >>

November 13, 2024

CART: Continues to Build a Competitive Moat

By Steven Fox

We adjust our 2024/2025E EBITDA for Maplebear, d/b/a Instacart (CART; $48.34; E/W), from $855mm (2.6% of GTV)/$960mm (2.7% of GTV) to $865mm (2.6% of GTV) and $975mm (2.8% of GTV) after the company reported solid…

Read More >>

November 12, 2024

CART: First Look at Q3 Results and Outlook

By Steven Fox

Maplebear, doing business as Instacart, (CART; $48.34; E/W), posted Q3 adjusted EBITDA of $227mm (2.7% of GTV), which was ahead of our forecast of $211mm (2.6% of GTV) and the Street’s $212mm (2.6% of GTV)….

Read More >>

November 11, 2024

GLW: Secures More CHIPS Act Funding

By Steven Fox

Last Friday (11/8), the U.S. Department of Commerce announced it signed a preliminary memorandum of terms with Corning (GLW; $48.90; O/P) to provide up to $32mm in direct funding under the U.S. CHIPS and Science…

Read More >>

November 11, 2024

Supply Chain Inventories Improve as New Questions Arise

By Steven Fox

Our latest look at aggregate inventories up and down the supply chain after the recent CQ3 results season suggested further progress towards “normalizing” inventories, especially at electronics manufacturing service (EMS) providers. However, we recognize that…

Read More >>
View All Reports

Our Leadership

Steven B. Fox Founder & CEO
Read Bio >>
Aneesha Patel Vice President
Read Bio >>

Fox Advisors in the Media:

Fox: Demand is driven by data centers, with OEMs buying ahead and expecting price increases

September 26th, 2024
Watch More

Still Some Very Attractive Valuations in the Chip Sector

April 11th, 2024
Watch More

Thoughts on DoorDash’s Q4 Results

February 16th, 2024
Watch More

Micron investors ‘thinking too optimistically’ about rebound

September 28th, 2023
Watch More

Predicting the End of the 2021 Semiconductor Chip Shortage | Featuring UMC & Fox Advisors | Webinar Powered by BattleFin

June 23rd, 2021
Watch More