Fundamental, Policy & Legal, Research, Webinar

Artificial Intelligence – Expectations Looking Ahead for The Technology Sector

Thursday, May 09, 2024

1:00 PM EDT | 10:00 AM PDT | 6:00 PM BST

CFRA Senior Vice President and Technology Head Angelo Zino, CFA, and CFRA software Senior Equity analyst Janice Quek, discussed the impact of Generative AI on the broader Information Technology sector.

They provided CFRA's current views regarding the recent AI infrastructure boom, highlighting the best content/secular growth stories we see within semiconductors in addition to the sustainability of recent cloud AI spending moving forward.

We also dove into software, offering our views on monetization efforts and how firms are unlocking ways for the enterprise space to maximize ROI. In addition, we examined the emerging opportunities tied to on-device AI, set to gain traction in PCs and smartphones, but more importantly, poised to help set up a new Industrial Revolution.

Washington Analysis Senior Telecommunications, Media, And Technology Analyst Tom Seitz also joined and offered his insights about the implications of the recent EU AI Act passed in March and where efforts to legislate AI in the U.S. stand.

This session detailed:

A primer on GenAI, including who we see as the major players across the AI ecosystem and potential addressable market.
A closer look at how GenAI is creating new growth opportunities across the semiconductor, hardware, and software industries.
Thoughts about differing laws/policies across Western markets as well as potential conflicts.
Investment views and STARS recommendations surrounding the Generative AI theme.

Speakers

Ken Leon, CPA, Moderator

Director of Equity Research

Ken Leon is Director of Equity Research at CFRA. He is responsible for analytical research as well as client servicing. Ken’s research industries as an equity analyst are the U.S. global banks and alternative asset managers in the financial sector, multifamily residential REITs, and movies & entertainment in the communications services sector. Ken is a thought leader that provides ongoing in-depth research and communications to key customer segments. He is active with most media networks and leading print media and is widely sought for his investment views on the large banks and capital market trends. Ken previously held the position of Global Director of Research and Industry Analyst for S&P Global Market Intelligence. Prior to joining CFRA in 2003, Ken spent over two decades in equity research with research leadership responsibilities at ABN Amro, Bear Stearns, and Lehman Brothers. He was a three-time Institutional Investor All-Star for his coverage of wireless telecommunications services, as one of the pioneers in this industry. Ken holds both a Bachelor of Science degree and an MBA from New York University. He was also licensed in the State of New Jersey as a Certified Public Accountant.

Angelo Zino, CFA

Senior Vice President of Equity Research

Angelo is a Vice President at CFRA and leads up the Technology team at the firm. His responsibilities include conducting research and recommending equity investments across the Technology and Communications Services sectors, specializing in mega cap technology firms, semiconductors, and social media companies. In addition, Angelo has extensive knowledge covering disruptive trends tied to Artificial Intelligence (AI) and digital advertising, among other areas. Angelo was previously an Industry Analyst with S&P Global Market Intelligence and worked there from 2007 through 2016. Prior to S&P Global and CFRA in 2016, Angelo was Vice President and Portfolio Manager at North Fork Bank, investing accounts through the utilization of mutual funds. In addition to that role, he was an Analyst for the North Fork Bank Trust Department, recommending industrial stocks through fundamental analysis and technical analysis-driven models. Angelo holds an MBA in Finance from Hofstra University and is also a CFA charterholder.

Janice Quek

Senior Equity Analyst

Janice Quek is a Senior Equity Analyst covering the Information Technology Sector, focusing on the Software sub-industry. Her expertise lies in enterprise software, SaaS providers, and cybersecurity. Before joining CFRA in 2021, Janice worked as an equity research analyst for a wealth management firm. Her primary responsibilities included covering equities in high-growth industries, such as software, e-commerce, media streaming, and gaming. Janice holds a Master’s in financial mathematics from the University of Chicago and a Bachelor’s in aerospace engineering from the University of Illinois at Urbana-Champaign. She has also served in various roles as a military officer in the Singapore Air Force.

Tom Seitz

Senior Telecommunications, Media, And Technology Analyst

Thomas (Tom) Seitz joined Washington Analysis in June 2014 and serves as a Senior TMT Analyst. He has been a sell side analyst covering the Telecom space for over 10 years at both Lehman Brothers and Jefferies & Co. Most recently he worked for Jefferies & Co. from 2011-2013 as managing director in equity research. His focus included telcos, wireless service providers, cable, and data center/cloud companies. Before joining Jefferies & Co, he spent two years covering Washington issues, and was the Director of Research at a policy firm. In addition to his duties as DoR, he was a managing director and senior research analyst following the telecom, cable, media and tech sectors. Prior to that role, Tom was a senior vice-president at Lehman Brothers, and subsequently Barclays Capital, covering the telecom services sector in the equity research department for over eight years. Numerous media and industry publications have cited Tom’s work. The Wall Street Journal, ranked Tom the #4 analyst for Telecom – Fixed Line, in its “Best on the Street” survey. The Lehman telecom services team was consistently ranked in Institutional Investor’s “All-America Research Team” for both wireline and wireless during Tom’s tenure.