Continuing from the last Insight, these major demand sources are under downward pressure: Server Demand Global server shipments also experienced a 5% contraction in volume terms in the first quarter of this year, according…
Semiconductor sales are contracting across countries and regions. In April – before President Trump’s tweet on imposing new import tariffs on China – global semiconductor sales growth sank to a…
Yesterday we were stopped out on our long S&P managed health care/short S&P semis market neutral pair trade initiated on May 13, 2019 for a gain of 10%. Our thesis remains intact that a lot of negative news has been priced into…
Given the trade’s extreme volatility, we initiated this trade with a stop loss at the -7% mark. However, this market-neutral trade has outperformed beyond our expectations and is currently up 14% since its inception at the…
In our recent Weekly Report, we initiated a pair trade, going long S&P managed health care/short S&P semiconductors. Given the trade’s extreme volatility, we initiated this trade with a stop loss at the -7…
While health care and tech stocks started the year on a similar footing, a wide gulf has opened that is likely to, at least partially, reverse in the back half of the year. This dichotomy is most evident at the subsector…
With regard to relative macro drivers, managed health care has the upper hand. Relative demand dynamics clearly favor HMOs and are working against chip stocks. Non-farm payroll growth, which drives HMOs revenues, is trouncing…
While health care and tech stocks started the year on a similar footing, a wide gulf has opened that is likely to reverse in the back half of the year. This dichotomy is most evident at the subsector level where managed health…