APTC IPO Preview (Part 1): Beneficiary of SK Hynix's Localization of Semiconductor Equipment
Adaptive Plasma Technology Corp (APTC Co Ltd (089970 KS)) IPO is expected to be completed in the Korean stock market in August. This is one of the...
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A Semiconductor Downturn's Coming, But How Bad Will It Be?
During June three important semiconductor forecasts were released. While one predicts growth through 2019, the other two agree that a downturn is...
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U.S. Equity Strategy: Upgrading Utilities; Downgrading Manufacturing
The U.S. market continues to flash mixed signals, most recently Utilities have shown a big climb in our relative strength rankings. Given mixed...
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We Are Raising Our Chip Equipment Estimates for 2018 as Recent Strength Set to Persist
After taking a fresh look at our semiconductor capital equipment coverage, we are raising our 2018 equipment market growth rate from 3% to 10%. Our...
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TSMC Expects Stronger Sales but Lower Capex Density, Implying Room to Raise Cash Dividends
SummaryDespite much in line 1Q18 guidance (8-10% q/q sales decline, 49.5-51.5% gross margin, 38-40% operating margin), most of the incremental new...
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