Research Archive
Every Intermarket Universe research issue, organized by topic. Free issues open immediately — Premium issues require a subscription.
Contract structure, the food/feed/fuel demand stack, the WASDE cycle, and the spread trades that define the CME grain board. The free flagship of our new commodities section.
Premium deep-dive into the supply-shock mechanics of the four great softs — geographic concentration, perennial supply lag, and the structural deficits that make ICE the most volatile corner of the market.
April 29 earnings synthesis: $695–$725B combined CAPEX guidance (+80% YoY), traced through GPU compute, HBM, networking, storage, and cooling. 15 beneficiary tickers mapped across NVDA, AMD, AVGO, MRVL, TSMC, MU, WDC, STX, ANET, VRT.
America's only HALEU enrichment facility, $3.8B DOE backlog to 2040, and the looming 2028 TENEX supply cliff. Full equity analysis with financials, competitive moat, and multi-year thesis.
Subscriber Edition sample — complimentary full access. Sole-source naval monopoly analysis, civilian nuclear renaissance thesis, and full equity deep-dive. Experience the quality of our premium research.
Institutional deep-dive into SanDisk's $42B non-binding memoranda, BiCS10 332-layer leadership over Samsung V9 and SK Hynix 321L, NBM counterparty shadow analysis across five hyperscalers, DCF sensitivity matrix, and six-factor risk vector assessment. Includes interactive research suite.
Platinum at ~$2,000/oz with three consecutive years of supply-demand deficits. Strategic allocation framework and CHF/gold correlation analysis for 2026.
The $108B–$211B WFE market — deposition, etching, ALD/ALE, and how AI's structural demand shift is reshaping semiconductor equipment capex through 2034.
Deep-dive into Micron's AI memory strategy — HBM sold out, DRAM +110% QoQ, competitive landscape, and the memory buildout driving next-gen compute.
HBM supply tightness reshaping competitive dynamics between SK Hynix, Micron, and Samsung amid accelerating GPU deployments.
25-page institutional research: six confirmed XPU partnerships, Tomahawk 6 at 102.4 Tbps, VMware ARR bridge, proprietary DCF with bear/base/bull price targets. ~$420 · ~$2.0T market cap.
NAND bit shipment analysis, wafer capacity utilization, and enterprise SSD pricing dynamics heading into H2 2026.
23-page deep-dive: DRAM hitting +95% QoQ price surges, HBM emerging as the AI bottleneck, hyperscaler CAPEX at $630B, and the full semiconductor supply chain through 2030.
Comprehensive deep-dive on STX's Mozaic HAMR platform, two-year profitability turnaround, five economic moats, and the zettabyte imperative driving AI storage demand.
CHF gained 13% against USD in 2025 — the best G10 currency. Analysis of SNB policy, the debt brake, 211 years of neutrality, and portfolio allocation framework.
Educational reference on the full oil & gas value chain: upstream/midstream/downstream structure, OPEC dynamics, fracking economics, rig utilization, and the energy transition outlook.
Post-SanDisk separation analysis of WDC as a focused HDD pure-play — Q2 FY26 financials, 46.1% gross margin, and the structural investment thesis anchored in 25%+ CAGR exabyte demand through 2030.
Year-by-year AMAT revenue model incorporating etch/dep equipment cycle timing, China exposure, and intrinsic value range.
From the Nixon Shock to Operation Epic Fury — tracing the dollar's 50-year evolution as a portfolio hedge and the case for diversifying into hard assets and selective currency exposure.
Scenario analysis for Strait blockade probabilities and cascading effects on energy, freight, and semiconductor supply chains.
How AI GPU power density is driving a transition to direct liquid cooling — and which infrastructure players stand to benefit.
A systematic framework for evaluating switching costs, network effects, and cost advantages in semiconductor supply chains.
Wafer fabrication equipment spending outlook — etch, deposition, and inspection — with China exposure quantification.
Analyzing the DDR4-to-DDR5 migration, server memory attach rates, and implications for Micron and SK Hynix ASPs.
