Explore Summit Insights Group's independent equity research blog. Our senior analyst Kinngai Chan provides institutional-grade analysis on semiconductor and enterprise software companies including AMD, Nvidia, Broadcom, Lam Research, and more. Trusted by investment firms and portfolio managers seeking conflict-free research and actionable market insights.
KinNgai Chan
With China-related headwinds pressuring semiconductor equipment makers, Chan weighed in on what this means for Applied Materials and how upcoming demand for advanced nodes could reshape the narrative.
"Clearly, the U.S. government's export restriction of certain semiconductor equipment to China is impacting the company's results and outlook," said Kinngai Chan, senior research analyst at Summit Insights Group.
Applied Materials
AMAT
Qualcomm
QCOM
Amid concerns over trade tensions, weakening smartphone demand, and Apple’s shift to in-house modem production, Chan weighed in on how these factors could shape Qualcomm’s near-term outlook.
"Tariff uncertainties will definitely have an impact to its topline outlook as Qualcomm is exposed to the smartphone, consumer IoT and the automotive end-markets," Summit Insights Group analyst Kinngai Chan said.
Following Texas Instruments' stronger-than-expected outlook for the June quarter, Chan attributed the upside to signs of a cyclical demand rebound and potential customer behavior in response to tariff uncertainty.
"Cyclical demand recovery and possibly some tariff pull-ins" are driving the upbeat forecast, said Kinngai Chan, senior analyst at Summit Insights Group.
Texas Instruments
TXN
Despite ongoing trade headwinds and export restrictions, Lam Research delivered stronger-than-expected quarterly results. Chan noted that the outperformance was driven by resilient demand from Asia, particularly Taiwan and China.
Kinngai Chan, senior analyst at Summit Insights Group, said the third-quarter "outperformance was due to stronger shipments to Taiwan, while shipments into China remain robust."
Lam Reseach
LRCX
Following a steep post-earnings selloff and mounting pressure from tariff concerns and intensified competition, Chan weighed in on how major U.S. server makers will be affected.
"HPE will be most impacted at the moment followed by Dell and lastly, Super Micro Computer in terms of import tariff impact," Kinngai Chan, analyst at Summit Insights Group, said.
Hewlett Packard Enterprise
HWP
Broadcom
AVGO
As Broadcom explores Intel’s next-gen 18A manufacturing process, its broader positioning in the AI market has drawn attention. Chan pointed out that Broadcom’s diversified exposure to multiple AI ASIC customers gives it a strategic edge over peers.
"Broadcom is much better positioned compared to its peers as its exposure in AI market is relatively more diversified with multiple AI ASIC customers," Summit Insights analyst Kinngai Chan said.
With Marvell facing margin pressure from a pivot to lower-margin custom AI chips and softer demand in its core networking business, Chan emphasized that profitability remains key: investors are ultimately focused on bottom-line growth, not just expanding revenues.
"Investors pay for earnings per share growth, not just top-line growth," Summit Insights' analyst Kinngai Chan said.
Marvell
MRVL
Advanced Micro Devices
AMD
Following AMD’s latest earnings report, the company acknowledged ongoing supply constraints for its AI chips, with CEO Lisa Su warning that shortages could extend into next year. Despite strong demand from tech giants like Microsoft and Meta, investors were disappointed by AMD’s fourth-quarter outlook.
"AMD's stock was priced for a beat and raise," Summit Insights analyst Kinngai Chan said. "Clearly, AMD's (fourth-quarter) outlook was not good enough for investors.”