Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

Asustek Computer Inc. manufactures and markets computer motherboards, interface cards, notebook computers, and other related products.

<ul><li>Smart mobility is driving up demand for parking spaces, raising concerns about the availability and sustainability of parking infrastructure in urban areas.</li><li>Silverstone's high-tech innovations are extending beyond the racing industry, impacting various sectors with its advancements and technological breakthroughs.</li><li>Challenges faced by generative AI, including limited data, resource constraints, and material shortages like copper, are causing bottlenecks in the development and adoption of this technology.</li></ul>

Smart mobility is driving up demand for parking spaces, raising concerns about the availability and sustainability of parking infrastructure in urban areas.Silverstone's high-tech innovations are extending beyond the racing industry, impacting various sectors with its advancements and technological breakthroughs.Challenges faced by generative AI, including limited data, resource constraints, and material shortages like copper, are causing bottlenecks in the development and adoption of this technology.

Tech Supply Chain Tracker (05-Nov-2024): Smart mobility impacts parking.

Holtek Semiconductor Inc. develops and manufactures integrated circuit (IC) products. The Company's products include microcontrollers, and other peripheral devices in the communication, remote control, computer peripheral, and memory industries.

<ul><li>Tesla faces challenges in developing Full Self-Driving technology despite progress in the field.</li><li>Ennostar utilizes Micro LED for AI optical communication, enhancing short-range transmission efficiency.</li><li>Meta sees record revenue in 3Q24 at US$40.6bn, but worries about slower user growth persist. Advanced Power Electronics benefits from AI server demand but struggles with pricing pressures. Holtek is optimistic for 2025 due to China's market rescue policies.</li></ul>

Tesla faces challenges in developing Full Self-Driving technology despite progress in the field.Ennostar utilizes Micro LED for AI optical communication, enhancing short-range transmission efficiency.Meta sees record revenue in 3Q24 at US$40.6bn, but worries about slower user growth persist. Advanced Power Electronics benefits from AI server demand but struggles with pricing pressures. Holtek is optimistic for 2025 due to China's market rescue policies.

Tech Supply Chain Tracker (01-Nov-2024): Tesla FSD advances, but challenges ahead.

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Silicon Motion Technology / Equity Bottom-Up

Silicon Motion Technology Corporation is a semiconductor company that designs, develops, and markets semiconductor products for the multimedia consumer electronics market. The Company's products include controllers used in mobile storage media and multimedia systems on a chip.

<ul>
<li>3Q24 Beats Consensus; Gross Margin Continues Recovery Despite Weakness in Overall Memory Market</li>
<li>Sees Near-Term Weakness in PC &amp; Smartphone Markets; Sees NAND Market Tightening by Mid-2025E</li>
<li>Despite Near-Term Memory Cycle Concerns, Structural Revenue Growth Drivers Remain in Place</li>
</ul>


3Q24 Beats Consensus; Gross Margin Continues Recovery Despite Weakness in Overall Memory Market
Sees Near-Term Weakness in PC &amp; Smartphone Markets; Sees NAND Market Tightening by Mid-2025E
Despite Near-Term Memory Cycle Concerns, Structural Revenue Growth Drivers Remain in Place


Silicon Motion Warns Near-Term Weakness in PC/Smartphone Memory Market; But Remain Structurally Long

MediaTek Inc. is a fabless semiconductor company for wireless communications and digital multimedia solutions. The company provides SOC system solutions for wireless communications, high-definition TV, optical storage, DVD and Blu-ray products.

<ul>
<li>3Q24 Performance Signals Advanced Products Making Major Progress; 20% Topline Growth &amp; Improved China Market Conditions</li>
<li>Flagship Mobile Revenue Leading the Charge in China and Emerging Markets</li>
<li>ASIC and AI Accelerator Progress: Estimate 2025E/2026E Initial Mass Production; Maintain Structural Long Rating.</li>
</ul>


3Q24 Performance Signals Advanced Products Making Major Progress; 20% Topline Growth &amp; Improved China Market Conditions
Flagship Mobile Revenue Leading the Charge in China and Emerging Markets
ASIC and AI Accelerator Progress: Estimate 2025E/2026E Initial Mass Production; Maintain Structural Long Rating.


Mediatek's Advanced Product Strategy Showing Major Progress; Maintain Structural Long

Taiwan Tech Focused Senior Analyst

Patrick Liao

ASE Technology Holding   / Equity Bottom-Up

ASE Technology Holding Co., Ltd. offers assembly and testing services. The Company provides outsourced assembly, semiconductor testing, semiconductor packaging, and other related services. ASE Technology Holding operates in Taiwan.

<ul>
<li>The 4Q24 EMS is expected to decline by a mid-single-digit percentage QoQ in 4Q24, while ATM sales are expected to grow slightly QoQ.</li>
<li>General market hasn’t recovered yet.2024 outlook still seems lukewarm. 2024 market excluding HPC and AI is indeed down YoY. Only AI and leading edge product demand is robust.</li>
<li>Expects 2025 general market demand to have better recovery, more leading edge business opportunities and higher testing sales mix to help GM go up.</li>
</ul>


The 4Q24 EMS is expected to decline by a mid-single-digit percentage QoQ in 4Q24, while ATM sales are expected to grow slightly QoQ.
General market hasn’t recovered yet.2024 outlook still seems lukewarm. 2024 market excluding HPC and AI is indeed down YoY. Only AI and leading edge product demand is robust.
Expects 2025 general market demand to have better recovery, more leading edge business opportunities and higher testing sales mix to help GM go up.


ASEH (3711.TT; ASX.US): The Overall 4Q24 Trend Is Slightly Downward QoQ.

Taiwan Tech
Insights on Taiwan Tech Stocks

Tech Supply Chain Tracker (05-Nov-2024): Smart mobility impacts parking.

Smart mobility raises concerns about parking infrastructure, Silverstone drives innovation across industries, generative AI faces challenges,...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (01-Nov-2024): Tesla FSD advances, but challenges ahead.

Tesla pushes forward with Full Self-Driving, Ennostar utilizes Micro LED, Meta's revenue soars, Advanced Power Electronics benefits from AI server...

Tech Supply Chain Tracker

Silicon Motion Warns Near-Term Weakness in PC/Smartphone Memory Market; But Remain Structurally Long

3Q24 earnings beat expectations with improving gross margins despite memory market weakness. Anticipates short-term challenges in PC and...

Vincent Fernando, CFA

Mediatek's Advanced Product Strategy Showing Major Progress; Maintain Structural Long

Advanced products at 3Q24 are showing strong performance with 20% topline growth, driven by flagship mobile revenue in China and emerging markets.

Vincent Fernando, CFA

ASEH (3711.TT; ASX.US): The Overall 4Q24 Trend Is Slightly Downward QoQ.

4Q24 EMS expected to decline, ATM sales to grow slightly. 2024 market still struggling, AI demand robust. 2025 outlook shows promise for recovery...

Patrick Liao

Tech Supply Chain Tracker (05-Nov-2024): Smart mobility impacts parking.

Smart mobility raises concerns about parking infrastructure, Silverstone drives innovation across industries, generative AI faces challenges,...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (01-Nov-2024): Tesla FSD advances, but challenges ahead.

Tesla pushes forward with Full Self-Driving, Ennostar utilizes Micro LED, Meta's revenue soars, Advanced Power Electronics benefits from AI server...

Tech Supply Chain Tracker

Silicon Motion Warns Near-Term Weakness in PC/Smartphone Memory Market; But Remain Structurally Long

​3Q24 earnings beat expectations with improving gross margins despite memory market weakness. Anticipates short-term challenges in PC and...

Vincent Fernando, CFA

Mediatek's Advanced Product Strategy Showing Major Progress; Maintain Structural Long

​Advanced products at 3Q24 are showing strong performance with 20% topline growth, driven by flagship mobile revenue in China and emerging markets.

Vincent Fernando, CFA

ASEH (3711.TT; ASX.US): The Overall 4Q24 Trend Is Slightly Downward QoQ.

​4Q24 EMS expected to decline, ATM sales to grow slightly. 2024 market still struggling, AI demand robust. 2025 outlook shows promise for recovery...

Patrick Liao

3Q24 earnings beat expectations with improving gross margins despite memory market weakness. Anticipates short-term challenges in PC and...

Advanced products at 3Q24 are showing strong performance with 20% topline growth, driven by flagship mobile revenue in China and emerging markets.

4Q24 EMS expected to decline, ATM sales to grow slightly. 2024 market still struggling, AI demand robust. 2025 outlook shows promise for recovery...