Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron</a> reported FQ4 revenues of $6.1 billion, in line with expectations and up 12% sequentially and up 25% YoY. It was a solid result and was the company's third successive quarter of increasing revenues and net income. However, Micron's revenue forecast for the current quarter of $5.2 billion at the midpoint, along with a 7.4 percentage points sequential decline in gross margin, sent the company's share price tumbling in after hours trading. NAND pricing and the loss of Huawei's business were two of the key headwinds pointing to stormy waters ahead for Micron.

Micron reported FQ4 revenues of $6.1 billion, in line with expectations and up 12% sequentially and up 25% YoY. It was a solid result and was the company's third successive quarter of increasing revenues and net income. However, Micron's revenue forecast for the current quarter of $5.2 billion at the midpoint, along with a 7.4 percentage points sequential decline in gross margin, sent the company's share price tumbling in after hours trading. NAND pricing and the loss of Huawei's business were two of the key headwinds pointing to stormy waters ahead for Micron.

Micron. Solid FQ4 But Mounting Headwinds Point To Stormy Waters Ahead

On September 22 last,  <a href="https://www.smartkarma.com/entities/western-digital-corp" target="_blank" data-smartkarma-citation="entities:1094:1" rel="noopener">Western Digital'</a> (WDC) issued a press release regarding their plan to create separate organizations for their HDD and SSD businesses. WDC's share price surged by more than 10% in the aftermath of the announcement, fueled by speculation that the company may take things one step further by creating two separate business entities entirely. We think this is not likely to happen. Here's why.

On September 22 last,  Western Digital' (WDC) issued a press release regarding their plan to create separate organizations for their HDD and SSD businesses. WDC's share price surged by more than 10% in the aftermath of the announcement, fueled by speculation that the company may take things one step further by creating two separate business entities entirely. We think this is not likely to happen. Here's why. 

Western Digital. Spinning Out Either HDD Or SSD Divisions Makes No Sense.

Thematic (Sector/Industry)

The spread of the global pandemic has resulted in the strongest two consecutive quarters on record for server sales and led to <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel</a> beating its second quarter forecast by nearly one billion dollars. This strength in server has spilled over to the DRAM and NAND segments with both staging robust recoveries from the protracted down cycle experienced in 2019. That situation may be coming to an abrupt end however. A key leading indicator suggests that server sales will fall sharply in the coming months. We also expect both DRAM and NAND prices to follow suit. Here's why.

The spread of the global pandemic has resulted in the strongest two consecutive quarters on record for server sales and led to Intel beating its second quarter forecast by nearly one billion dollars. This strength in server has spilled over to the DRAM and NAND segments with both staging robust recoveries from the protracted down cycle experienced in 2019. That situation may be coming to an abrupt end however. A key leading indicator suggests that server sales will fall sharply in the coming months. We also expect both DRAM and NAND prices to follow suit. Here's why.   

Server CPU, DRAM, NAND Sales Heading For A Significant Decline As Inventory Digestion Commences.

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

The Semiconductor Industry Association's monthly statistics update, covering July's semiconductor sales, show revenues that continue to follow the growth trend of the past 25 years.  This Smartkarma Insight uses graphics to show that the market is still in good health despite 2020's challenging circumstances.

The Semiconductor Industry Association's monthly statistics update, covering July's semiconductor sales, show revenues that continue to follow the growth trend of the past 25 years.  This Smartkarma Insight uses graphics to show that the market is still in good health despite 2020's challenging circumstances.

This Smartkarma Insight examines recent spot market price trends for NAND flash and DRAM chips, which are indicators of the health of the semiconductor market as a whole.  These prices suggest that NAND and DRAM prices could fall by 20% in the near term and continue their descent through the end of the year.

This Smartkarma Insight examines recent spot market price trends for NAND flash and DRAM chips, which are indicators of the health of the semiconductor market as a whole.  These prices suggest that NAND and DRAM prices could fall by 20% in the near term and continue their descent through the end of the year.

DRAM & NAND Spot Prices Indicate Impending Fall

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.

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Intel Corp (INTC US)

Micron. Solid FQ4 But Mounting Headwinds Point To Stormy Waters Ahead

Micron reported FQ4 revenues of $6.1 bil

William Keating

Western Digital. Spinning Out Either HDD Or SSD Divisions Makes No Sense.

On September 22 last, Western Digital' issued a press release regarding their plan to

William Keating

Server CPU, DRAM, NAND Sales Heading For A Significant Decline As Inventory Digestion Commences.

A leading indicator for server sales

William Keating

SIA July Stats Still Show Strength

The Semiconductor Industry Association's

Jim Handy

DRAM & NAND Spot Prices Indicate Impending Fall

This Smartkarma Insight e

Jim Handy

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