Industry Notes

We think investors should generally expect favorable Q1 results and guidance from the tech supply chain during CQ1 EPS season. Although, we think it reasonable to question, across a range of markets, if the ongoing…

We do not think it’s an “accident” that most electronics manufacturing services (EMS) stocks we follow are trading right around 52-week highs even in the face of what our checks suggest is heightened levels of…

We think last week’s sharp decline in the shares of Micron (MU; $357.22; O/P) and SanDisk (SNDK; $615.83; O/P), down 16% and 13% respectively, proves a buying opportunity in coming weeks. SanDisk is also down…

On Friday (3/20), Ecolab (ECL; $132.74; NR) announced plans to acquire CoolIT Systems, a liquid cooling technology business focused entirely on data center applications, for $4.75B from KKR. From our seat, this transaction highlights how…

We think news this week out of NVIDIA’s (NVDA; $181.93; NR) GTC 2026 conference may finally put to rest the idea that the well-established rideshare networks of Lyft (LYFT; $14.04; O/P) and Uber Technologies (UBER;…

We believe an expanding war in Iran is starting to adjust investor thinking on end market risks within technology supply chains, for better as well as worse (e.g., aerospace & defense vs. auto and consumer…

This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of January, which was well below typical seasonal trends, albeit not totally unexpected given stronger than typical registrations…

We think a weekend raid of a major drug cartel by authorities in Mexico, which resulted in the killing of a cartel leader and subsequent violence in the Mexican state of Jalisco should be of…

Our latest look at aggregate inventories up and down the supply chain post CQ4 EPS season suggested another quarter of general supply chain tightening relative to more recent levels. Although, for what it is worth,…

This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of December, which exceeded typical seasonal trends, including ongoing healthy demand for battery electric vehicles. Specifically, European vehicle…

We expect the upcoming CQ4 EPS season from the technology supply chain to highlight still healthy cloud data center spending trends that drove robust performance across our coverage in 2025 (e.g., average stock up 85%)….

We think this week’s news that Honeywell’s (HON; $214.34; NR) majority owned Quantinuum plans to confidentially file for an IPO is likely to signal a broader level of interest in the quantum computing space from…

This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of November, which was more or less in line with MoM seasonal patterns, albeit with some positive trends…

We think investor “hand wringing” has basically reached peak levels towards Lyft (LYFT; $20.20; O/P) and Uber Technologies (UBER; $81.47; E/W) when it comes to the threat of autonomous rideshare disrupting their own network growth…

The shares of Lyft (LYFT; $20.46; O/P) and Uber Technologies (UBER; $84.37; E/W) continue to be “whipsawed”, both up and down in our view, by the latest news on the autonomous rideshare front. Specifically, we…