Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>China is considering banning gallium and germanium shipments to the US</li>
<li>Semiconductors consume well under 20% of world gallium production, and an almost immeasurably small amount of germanium</li>
<li>Very little of the consumption is in the US, indicating that the impact of a boycott should be very small</li>
</ul>


China is considering banning gallium and germanium shipments to the US
Semiconductors consume well under 20% of world gallium production, and an almost immeasurably small amount of germanium
Very little of the consumption is in the US, indicating that the impact of a boycott should be very small


Is China's Boycott of Germanium Gallium to the US Meaningful?

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

<ul>
<li>Gartner reports Q2’23 PC unit shipments amounted to 59.7 million units, a decrease of 16.6% YoY, but an increase of ~8% QoQ</li>
<li>TSMC Q2'23 revenue will marginally exceed midpoint of the guided range.</li>
<li>Intel CEO second trip to China in 3 months heightens speculation about China's approval of the pending Tower Semi acquisition. </li>
</ul>


Gartner reports Q2’23 PC unit shipments amounted to 59.7 million units, a decrease of 16.6% YoY, but an increase of ~8% QoQ
TSMC Q2'23 revenue will marginally exceed midpoint of the guided range.
Intel CEO second trip to China in 3 months heightens speculation about China's approval of the pending Tower Semi acquisition. 


Semiconductor Events Deserving Your Attention @ 16/7/23

Equity Bottom-Up

<ul>
<li>By combining TMG+TD+IFS into a single reportable segment, all internal demand will move to this new entity, leapfrogging Intel to global #2 foundry by Q1'24 instead of by 2030</li>
<li>This new structure risks obfuscating the details of external foundry customer growth</li>
<li>A much simpler step by step approach which achieves all Intel's stated goals while retaining visibility into IFS would be far more preferable from a shareholder perspective</li>
</ul>


By combining TMG+TD+IFS into a single reportable segment, all internal demand will move to this new entity, leapfrogging Intel to global #2 foundry by Q1'24 instead of by 2030
This new structure risks obfuscating the details of external foundry customer growth
A much simpler step by step approach which achieves all Intel's stated goals while retaining visibility into IFS would be far more preferable from a shareholder perspective


<ul>
<li>Chip revenues have been up for two months in a row.  Could this be the start of a trend?</li>
<li>Commodity prices indicate that the "Collapse" phase of a price downturn has ended, and that prices will now follow costs</li>
<li>DRAM and NAND makers should remain unprofitable until mid 2024, although their revenues can begin to steadily rise.  Other chip makers will do better.</li>
</ul>


Chip revenues have been up for two months in a row.  Could this be the start of a trend?
Commodity prices indicate that the "Collapse" phase of a price downturn has ended, and that prices will now follow costs
DRAM and NAND makers should remain unprofitable until mid 2024, although their revenues can begin to steadily rise.  Other chip makers will do better.


<ul>
<li>While Intel was allegedly actively discouraged from further AT investment in Chengdu, Micron has just announced a significant investment in Xi'An. </li>
<li>Micron's Xi'An investment announcement happened on the same day as Intel's surprise Poland AT investment. </li>
<li>Following the Poland announcement, Intel now gets the enhanced Magdeburg deal they held out for.  </li>
</ul>


While Intel was allegedly actively discouraged from further AT investment in Chengdu, Micron has just announced a significant investment in Xi'An. 
Micron's Xi'An investment announcement happened on the same day as Intel's surprise Poland AT investment. 
Following the Poland announcement, Intel now gets the enhanced Magdeburg deal they held out for.  


Intel, Micron Expanding In Different Directions

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Intel Corp (INTC US)

Is China's Boycott of Germanium Gallium to the US Meaningful?

Although China has threatened to boycott shipments of germanium and gallium to the US, the impact of such a move is likely to be very small. This...

Jim Handy

Semiconductor Events Deserving Your Attention @ 16/7/23

Gartner reports Q2’23 PC shipments of 59.7 million units, -16.6% YoY, but +8% QoQ. TSMC Q2'23 revenue will marginally exceed guided midpoint....

William Keating

Intel Planing on Pulling A Samsung

Intel plans a restructuring designed to leapfrog the company to global #2 foundry by Q1'24 instead of by 2030. A simper approach which retains...

William Keating

Encouraging Signs in Recent Semi Stats

The chip market is giving signs of a recovery which will see rising revenues but should remain unprofitable for commodity players until mid-2024. ...

Jim Handy

Intel, Micron Expanding In Different Directions

While Intel got a red light on Chengdu, Micron got a green light on Xi'An. Intel announces surprise Poland AT investment on the same day as...

William Keating

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)