Tech Thoughts – GP Bullhound

Tech Thoughts Newsletter – 28 March 2024.

Gustav Radell — Thu, 28 Mar 2024 06:48:43 +0000

This week’s update highlights new AI features unveiled at the Adobe Summit, BYD surpassing Tesla in electric vehicle sales in Q4, and Apple facing challenges in the Chinese market. Market: The week was marked by a shortened trading period and low volatility. However, we did observe some repositioning ahead of the quarter’s end. Portfolio: We increased our position in Broadcom during the…

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Tech Thoughts Newsletter – 22 March 2024.

Maria Lazareva — Fri, 22 Mar 2024 10:26:08 +0000

Market: The Fed’s openness to reducing rates sparked a rally in the latter part of the week, especially in tech. The Nvidia GTC presentation, plus the strong results from Micron, added further fuel to the upturn, especially in stocks with AI exposure. Portfolio: We have not made any major portfolio changes this week. Our view: Blackwell is a very strong solution and will…

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Tech Thoughts Newsletter – 15 March 2024.

Causality — Fri, 15 Mar 2024 10:14:31 +0000

Market: The market has been taking a breather, trying to decide whether to continue up or not. Stock-specific volatility has increased, especially among the YTD winners like Nvidia and the AI cluster. The fundamentals around AI, if anything, are just getting more robust, and next week is the “Woodstock of AI” Nvidia GTC conference. Portfolio: We have not made any major portfolio changes this…

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Tech Thoughts Newsletter – 8 March 2024.

Maria Lazareva — Fri, 08 Mar 2024 10:56:33 +0000

Market: Volatility increased this week after the late rally last week. Investors are getting worried about the levels of the major indexes. On the tech side, two of the magnificent seven seem to be having some demand headwinds: Apple and Tesla, while Google seems to be struggling to get its AI offering in order. We also once again confirmed that telecom and industrial semiconductor demand is weak…

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Tech Thoughts Newsletter – 1 March 2024.

Maria Lazareva — Fri, 01 Mar 2024 11:15:05 +0000

Market: The market has not decided if it should continue to rally or if it’s time to take some profit. We saw some profit taking ahead of the PCE number and some selling of the YTD winners this week. Portfolio: We reduced the risk of the portfolio ahead of the Workday results by significantly reducing the position and bought it back after the results. We also increased our position in…

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Tech Thoughts Newsletter – 23 February 2024.

Maria Lazareva — Fri, 23 Feb 2024 10:14:53 +0000

Market: All about Nvidia for the market (and our portfolio) this week – driving tech stocks higher. Portfolio: We made no major changes to the portfolio this week. Nvidia delivers another blowout quarter – all about pricing upside Portfolio view: We own Nvidia and AMD, and expect them to continue to be the biggest beneficiaries of downstream capex spend in 2024.

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Tech Thoughts Newsletter – 26 January 2024.

Maria Lazareva — Fri, 26 Jan 2024 13:52:30 +0000

Market: We’re now firmly amid results season, which has been the primary driver of share prices this week. The market is still in broad “risk-on” mode, driving tech higher. Portfolio: We added to LAM Research ahead of numbers this week following the strong ASML memory order book. Semicap equipment – orders are back, memory AI demand picking up the baton? Portfolio view: We…

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Tech Thoughts Newsletter – 19 January 2024.

Maria Lazareva — Fri, 19 Jan 2024 10:17:04 +0000

Market: A somewhat mixed week with China data spooking the market a little, but TSMC results help to drive a late rally in tech and semis. More on both below. Portfolio: We made no major changes in the portfolio this week. Performance benefited from our holdings in TSMC and AMD. The key event for us this week was TSMC results – the first in our portfolio to report.

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Tech Thoughts Newsletter – 12 January 2024.

Maria Lazareva — Fri, 12 Jan 2024 10:23:04 +0000

Market: A typically volatile start to the year and a bit of a mean reversal to start (around concerns over rates and macro – new year, same problems!), though Nasdaq (and the fund) is now up year-to-date. Several layoffs announced in the tech sector (Google and Amazon most notably) are a reminder that macro momentum remains uncertain for 2024. Portfolio: We made no major changes to the…

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Tech Thoughts Newsletter – 28 December 2023.

Gustav Radell — Thu, 28 Dec 2023 13:11:36 +0000

It goes without saying that the story of 2023 has been AI. Just about every analyst day turned into an “AI day” with big bonus points if you could get Nvidia CEO Jensen Huang to join you on stage. 2023 has seen a huge amount of investment in AI infrastructure (and there would have been even more, were it not for chip supply shortages). With that, access to AI compute and large language…

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