< The 2015 All-America Research Team
Timothy Arcuri
Cowen and Co.
First-place appearances: 2
Total appearances: 11
Analyst debut: 2002
A runner-up last year, Timothy Arcuri claims third place, scoring his highest raking since 2011. At that time, he covered U.S. semiconductor capital equipment shares for Citi; he jumped to Cowen and Co. in October 2012. Working out of San Francisco, the 45-year-old researcher manages a sector portfolio that spans 17 names. “I am bullish looking into 2016, especially given this recent pullback,” Arcuri says. “The biggest issue faced by the companies is on the demand side — device unit growth in smartphones, tablets and PCs is slowing meaningfully, and this remains the predominant driver of leading-edge innovation and spending growth. I continue to favor stocks that are more exposed to memory spending, where demand is constrained by device growth and more driven by cloud [or] data analytics.” His favorite example on that front is processing equipment manufacturer Lam Research Corp. of Freemont, California. “Tim does an amazing amount of on-the-ground research, and he knows the industries as well as anyone,” one advocate remarks.
