Yet Another Value Podcast
Kerrisdale Capital's Sahm Adrangi on $ACMR's price dislocation between Shanghai and NASDAQ listings
Feb 26, 2025
Sahm Adrangi, Chief Investment Officer at Kerrisdale Capital, shares his insights on ACM Research, a key player in semiconductor equipment. He discusses the intriguing valuation discrepancies between its U.S. and Shanghai listings, emphasizing market dynamics and missed opportunities. Sahm dives into competitive factors influenced by Chinese regulations and the implications of U.S.-China tensions. He also addresses the capital allocation strategies and the potential impacts of slowing AI investment on growth prospects. A fascinating take on a complex market!
54:45
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Sahm Adrangi highlights $ACMR's unique position in the semiconductor equipment market due to strong growth supported by Chinese demand.
- Despite its promising growth metrics, $ACMR is undervalued compared to peers, with potential price estimates ranging from $60 to $110.
Deep dives
Insights from Expert Interviews
Expert interviews can reveal insights that are not easily attainable through conventional research methods. A humorous anecdote about a mayonnaise coupon frenzy illustrates how consumer behavior can significantly impact company performance. Such unique insights can elucidate why certain products fail to gain traction despite their quality. This emphasizes the importance of utilizing expert networks to gain a deeper understanding of market dynamics.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
