Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

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<ul><li>Spatial display market focuses on distribution optimization, demographic targeting, and visibility enhancement to boost sales and engagement.</li><li>Panel makers shift to chip packaging as consumer electronics industry slows down, while Taiwan plans its own Starlink due to satellite launch delay.</li><li>Texas offers incentives to attract Taiwan chip giants, Apple Intelligence foresees revenue growth, and MediaTek anticipates an upturn with Dimensity 9400.</li></ul>

Spatial display market focuses on distribution optimization, demographic targeting, and visibility enhancement to boost sales and engagement.Panel makers shift to chip packaging as consumer electronics industry slows down, while Taiwan plans its own Starlink due to satellite launch delay.Texas offers incentives to attract Taiwan chip giants, Apple Intelligence foresees revenue growth, and MediaTek anticipates an upturn with Dimensity 9400.

Tech Supply Chain Tracker (12-Sep-2024): Spatial display market path

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

<ul>
<li>Qualcomm's latest earnings came in at the high end of guidance with automotive revenue surging and mobile steady. We analyze QCOM results' key implications for Mediatek.</li>
<li>Qualcomm's 2024E global handset market volume guidance remained unchanged vs. last quarter; however we believe Mediatek may have taken some market share in CY1Q24.</li>
<li>Qualcomm confirmed Mediatek's view regarding high-end phone demand strength right now, with AI capabilities the likely driver. Combining QCOM + Mediatek color suggests an AI-driven handset upgrade cycle ahead.</li>
</ul>


Qualcomm's latest earnings came in at the high end of guidance with automotive revenue surging and mobile steady. We analyze QCOM results' key implications for Mediatek.
Qualcomm's 2024E global handset market volume guidance remained unchanged vs. last quarter; however we believe Mediatek may have taken some market share in CY1Q24.
Qualcomm confirmed Mediatek's view regarding high-end phone demand strength right now, with AI capabilities the likely driver. Combining QCOM + Mediatek color suggests an AI-driven handset upgrade cycle ahead.


Key Insights from Qualcomm's Latest Data; Mediatek Taking Market Share?

<ul>
<li>Mediatek Enjoying a Massive Rebound for its Mobile Phone Segment; Most Optimistic About High-End Smartphone Demand</li>
<li>New AI Data Center Growth Driver on the Horizon; Recent Investment in U.S. AI Server Chip Startup</li>
<li>Recent Share Price Dip is an Accumulation Opportunity; We Rate Mediatek as a Structural Long</li>
</ul>


Mediatek Enjoying a Massive Rebound for its Mobile Phone Segment; Most Optimistic About High-End Smartphone Demand
New AI Data Center Growth Driver on the Horizon; Recent Investment in U.S. AI Server Chip Startup
Recent Share Price Dip is an Accumulation Opportunity; We Rate Mediatek as a Structural Long


Mediatek Seeing Massive Rebound in Mobile; Major AI Data Center Driver on the Horizon

<ul><li>Taiwan's drone sector showcases industry growth with debut expo in October, marking a significant advancement in technology.</li><li>Microsoft makes significant investment of US$308 million in Taiwan to enhance AI technology development, strengthening their presence in the region.</li><li>Samsung plans to establish new CIS lab to compete with Sony in imaging technology, while also investing in in-house chip development for XR market to stay ahead of competition.</li></ul>

Taiwan's drone sector showcases industry growth with debut expo in October, marking a significant advancement in technology.Microsoft makes significant investment of US$308 million in Taiwan to enhance AI technology development, strengthening their presence in the region.Samsung plans to establish new CIS lab to compete with Sony in imaging technology, while also investing in in-house chip development for XR market to stay ahead of competition.

Tech Supply Chain Tracker (14-Aug-2024): Taiwan drone industry grows, expo debut in October.

<ul>
<li>Mediatek's results for 4Q23 exceeded expectations; Forward guidance also suggests that consensus forecasts for 2024 may need to be revised upward.</li>
<li>Foresees the start of its "next growth phase" in 2024, with AI influencing mobile upgrades and the introduction of new products in late 2025, indicating potential growth through 2026E.</li>
<li>Mediatek indicated that AI interest will drive high-end mobile devices to gain market share in 2024E.</li>
</ul>


Mediatek's results for 4Q23 exceeded expectations; Forward guidance also suggests that consensus forecasts for 2024 may need to be revised upward.
Foresees the start of its "next growth phase" in 2024, with AI influencing mobile upgrades and the introduction of new products in late 2025, indicating potential growth through 2026E.
Mediatek indicated that AI interest will drive high-end mobile devices to gain market share in 2024E.


Mediatek Results Take-Aways: High-End Devices to Take Market Share Globally; Upward Revisions Likely

Taiwan

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.

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Mediatek Inc (2454 TT)

Tech Supply Chain Tracker (12-Sep-2024): Spatial display market path

Spatial display market focuses on optimization, target demographics, visibility for sales boost; Taiwan develops Starlink alternative, Texas offers...

Tech Supply Chain Tracker

Mediatek Seeing Massive Rebound in Mobile; Major AI Data Center Driver on the Horizon

Mediatek is enjoying strong growth in its mobile phone segment; with notable strength in high-end smartphones. The company could re-rate as its...

Vincent Fernando, CFA

Tech Supply Chain Tracker (14-Aug-2024): Taiwan drone industry grows, expo debut in October.

Taiwan expo showcases drone industry growth, Microsoft invests in AI, Samsung aims to rival Sony in imaging, China smartphone market thrives, SAI...

Tech Supply Chain Tracker

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Tech Supply Chain Tracker (12-Sep-2024): Spatial display market path

Spatial display market focuses on optimization, target demographics, visibility for sales boost; Taiwan develops Starlink alternative, Texas offers...

Tech Supply Chain Tracker

Key Insights from Qualcomm's Latest Data; Mediatek Taking Market Share?

We deep dive into Qualcomm's latest results and the key take-aways relative to Mediatek. Overall, we find the latest QCOM results as positive for...

Vincent Fernando, CFA

Mediatek Seeing Massive Rebound in Mobile; Major AI Data Center Driver on the Horizon

​Mediatek is enjoying strong growth in its mobile phone segment; with notable strength in high-end smartphones. The company could re-rate as its...

Vincent Fernando, CFA

Tech Supply Chain Tracker (14-Aug-2024): Taiwan drone industry grows, expo debut in October.

Taiwan expo showcases drone industry growth, Microsoft invests in AI, Samsung aims to rival Sony in imaging, China smartphone market thrives, SAI...

Tech Supply Chain Tracker

Mediatek Results Take-Aways: High-End Devices to Take Market Share Globally; Upward Revisions Likely

​Mediatek's strong 4Q23 results and positive forward guidance indicate potential growth visibility through 2026E, driven by AI and new product...

Vincent Fernando, CFA

Mediatek is enjoying strong growth in its mobile phone segment; with notable strength in high-end smartphones. The company could re-rate as its...

Mediatek's strong 4Q23 results and positive forward guidance indicate potential growth visibility through 2026E, driven by AI and new product...