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>The steep part of the chip collapse has run its course, and prices are now following cost</li>
<li>Revenues will rise once demand growth fully offsets price decreases, probably in the fourth quarter</li>
<li>The market will regain profitability only after a new shortage develops, which may be the middle of 2024</li>
</ul>


The steep part of the chip collapse has run its course, and prices are now following cost
Revenues will rise once demand growth fully offsets price decreases, probably in the fourth quarter
The market will regain profitability only after a new shortage develops, which may be the middle of 2024


Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>China bans Micron chips for critical information infrastructure -- Taiwanese firms could benefit by straddling both sides of the trade tensions.</li>
<li>TSMC rallies as U.S. and Japan advance incentives for TSMC and Taiwanese firms.</li>
<li>Nvida earnings this week -- We'll see if the AI leader can keep the market excited about AI's brave new world.</li>
</ul>


China bans Micron chips for critical information infrastructure -- Taiwanese firms could benefit by straddling both sides of the trade tensions.
TSMC rallies as U.S. and Japan advance incentives for TSMC and Taiwanese firms.
Nvida earnings this week -- We'll see if the AI leader can keep the market excited about AI's brave new world.


Taiwan Tech Weekly: China Micron Restrictions; Taiwan Benefit From 'Chip Tensions'; Nvidia Earnings

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Advanced Micro Devices / Equity Bottom-Up

<ul><li>In the first quarter, Advanced Micro Devices performed well, delivering better-than-anticipated revenue and earnings in a mixed demand environment, launching numerous products across its businesses.</li><li>Revenue for the first quarter was $5.4 billion, down 9% from the same period last year.</li><li>Revenue in the Data Centre category was $1.3 billion, flat year on year, with greater cloud sales offsetting decreased enterprise sales.</li></ul>

In the first quarter, Advanced Micro Devices performed well, delivering better-than-anticipated revenue and earnings in a mixed demand environment, launching numerous products across its businesses.Revenue for the first quarter was $5.4 billion, down 9% from the same period last year.Revenue in the Data Centre category was $1.3 billion, flat year on year, with greater cloud sales offsetting decreased enterprise sales.

Advanced Micro Devices Inc.: Important Strides Towards Speeding Its AI Roadmap – Key Drivers

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>The sharp rebound of Advanced Micro Devices, Inc. (NASDAQ:AMD) over the recent months came to a sudden halt after market participants were once again surprised by the deteriorating outlook for the company.</li>
<li>Prompted by the bear market rally in equities, AMD's stock has almost doubled in a matter of just a couple of months from October of last year to March 2023. 
</li>
<li>While everyone was cheering the new wave of AI-driven demand, the quarterly report from earlier this week is a warning that should not be ignored.</li>
</ul>


The sharp rebound of Advanced Micro Devices, Inc. (NASDAQ:AMD) over the recent months came to a sudden halt after market participants were once again surprised by the deteriorating outlook for the company.
Prompted by the bear market rally in equities, AMD's stock has almost doubled in a matter of just a couple of months from October of last year to March 2023. 

While everyone was cheering the new wave of AI-driven demand, the quarterly report from earlier this week is a warning that should not be ignored.


Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

<ul>
<li>Q1’23 revenues of $5.4 billion, down 3.5% QoQ, down 9% YoY, but marginally ahead of the guided midpoint.</li>
<li>AMD’s outlook for the current quarter is for revenues of $5.3 billion at the midpoint, basically flat sequentially:</li>
<li>Data center revenues will grow 50% sequentially in H2'23 compared to H1'23</li>
</ul>


Q1’23 revenues of $5.4 billion, down 3.5% QoQ, down 9% YoY, but marginally ahead of the guided midpoint.
AMD’s outlook for the current quarter is for revenues of $5.3 billion at the midpoint, basically flat sequentially:
Data center revenues will grow 50% sequentially in H2'23 compared to H1'23


AMD Q1'23 Revenue $5.4 Billion, -3.5% QoQ, -9% YoY. Q2 Flat Sequentially.

United States

Advanced Micro Devices, Inc. (AMD) produces semiconductor products and devices. The Company offers products such as microprocessors, embedded microprocessors, chipsets, graphics, video and multimedia products and supplies it to third-party foundries, as well as provides assembling, testing, and packaging services. AMD serves customers worldwide.

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Advanced Micro Devices (AMD US)

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Q1’23 revenues of $5.4 billion, down 3.5% QoQ, down 9% YoY, but marginally ahead of the guided midpoint. Q2 revenues of $5.3 billion. Data center...

William Keating

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