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


Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

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E-commerce /In Depth: Chinese fast fashion platforms could be next U.S. targetSentiment /: British firms ‘conditionally optimistic’ about their China operations in 2023AIDS /: HIV/AIDS cases in China fell 13% during pandemic, expert says

CX Daily: Chinese Fast Fashion Platforms Could Be Next U.S. Target

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

<ul>
<li>SK Hynix and Samsung reported results in the last week, showing major losses for their memory businesses. More evidence of a 'two-track recovery' for different parts of the chip industry.</li>
<li>SK Hynix's inventory situation worsened based on our analysis; Micron appears to be managing inventory moderately better than peers based on recent results.</li>
<li>Long Micron vs. Short Nanya Technology: Micron has continued to outperform Nanya Tech, as well as SK Hynix and Samsung.</li>
</ul>


SK Hynix and Samsung reported results in the last week, showing major losses for their memory businesses. More evidence of a 'two-track recovery' for different parts of the chip industry.
SK Hynix's inventory situation worsened based on our analysis; Micron appears to be managing inventory moderately better than peers based on recent results.
Long Micron vs. Short Nanya Technology: Micron has continued to outperform Nanya Tech, as well as SK Hynix and Samsung.


Memory Monitor: SK Hynix & Samsung Losses & Conservative Guidance Indicate Two-Track Chip Recovery

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

<ul>
<li>Q1’23 operating profits of 0.64 trillion won, the lowest since Q1'09</li>
<li>Strong sales of flagship S23 smartphones helped avert an otherwise inevitable overall group operating loss.  </li>
<li>Outlook for the current quarter is for more of the same, albeit the bottom line will depend on the extent (if any) of memory inventory write-downs. </li>
</ul>


Q1’23 operating profits of 0.64 trillion won, the lowest since Q1'09
Strong sales of flagship S23 smartphones helped avert an otherwise inevitable overall group operating loss.  
Outlook for the current quarter is for more of the same, albeit the bottom line will depend on the extent (if any) of memory inventory write-downs. 


Samsung. When Your Cash Cow Turns Into Your Achilles Heel.

United States

Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.

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Micron Technology (MU US)

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Samsung. When Your Cash Cow Turns Into Your Achilles Heel.

Q1’23 operating profits of 0.64 trillion won, the lowest since Q1'09. Strong S23 sales saved the day. Outlook is for more of the same, albeit the...

William Keating

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