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>October semiconductor revenues have been released setting a new record</li>
<li>The semiconductor market, whose revenues have been following a trend since 1996, are currently well above that trend</li>
<li>The ingredients for a collapse are not developing.  The current trend seems destined to continue for at least another couple of quarters, but probably longer.</li>
</ul>


October semiconductor revenues have been released setting a new record
The semiconductor market, whose revenues have been following a trend since 1996, are currently well above that trend
The ingredients for a collapse are not developing.  The current trend seems destined to continue for at least another couple of quarters, but probably longer.


October Semi Revenues Released: Even Farther Above Trend

<ul>
<li>WSTS released a forecast for 26% growth in 2021 and 9% in 2022 </li>
<li>Prior WSTS forecasts have been overheated in up years and too modest in down years</li>
<li>If today's demand bubble continues, sub-10% 2022 growth is likely.  Otherwise, there could be a collapse.</li>
</ul>


WSTS released a forecast for 26% growth in 2021 and 9% in 2022 
Prior WSTS forecasts have been overheated in up years and too modest in down years
If today's demand bubble continues, sub-10% 2022 growth is likely.  Otherwise, there could be a collapse.


WSTS Semi Forecast Very Bullish for 2021-22, but Is It Realistic?

Equity Bottom-Up

<ul>
<li>Privately-Held Kioxia is ripe for an IPO, but there's been no announcement</li>
<li>Meanwhile, the company's end market, NAND flash chips, is setting new revenue records</li>
<li>Bain &amp; Company may miss an important window by waiting too long to go public</li>
</ul>


Privately-Held Kioxia is ripe for an IPO, but there's been no announcement
Meanwhile, the company's end market, NAND flash chips, is setting new revenue records
Bain &amp; Company may miss an important window by waiting too long to go public


<ul>
<li>The 2021 memory market is poised to reach/exceed $160 billion US this year</li>
<li>NAND flash has broken its record, and DRAM is approaching its 2018 highs</li>
<li>Small market share shifts favor NAND companies outside of the US, particularly Samsung</li>
</ul>


The 2021 memory market is poised to reach/exceed $160 billion US this year
NAND flash has broken its record, and DRAM is approaching its 2018 highs
Small market share shifts favor NAND companies outside of the US, particularly Samsung


Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Quantitative Analysis

<ul>
<li>The four major Korean metaverse ETFs' market caps surged by 934% from 76.2 billion won in 13 October to 788 billion won in 23 November.</li>
<li>Since 18 to 23 November, there has been a big sector rotation from the metaverse related stocks to Samsung Electronics and SK Hynix.</li>
<li>There will likely be high volatility among the metaverse related stocks with less than 1 trillion won in market cap in the upcoming metaverse ETFs rebalancing in December.</li>
</ul>


The four major Korean metaverse ETFs' market caps surged by 934% from 76.2 billion won in 13 October to 788 billion won in 23 November.
Since 18 to 23 November, there has been a big sector rotation from the metaverse related stocks to Samsung Electronics and SK Hynix.
There will likely be high volatility among the metaverse related stocks with less than 1 trillion won in market cap in the upcoming metaverse ETFs rebalancing in December.


Korean Metaverse ETFs Rebalancing & A Sector Rotation into Semis?

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)

October Semi Revenues Released: Even Farther Above Trend

October semiconductor revenues set a record once again, making the 2021 semiconductor market one to remember. A collapse appears unlikely in the...

Jim Handy

WSTS Semi Forecast Very Bullish for 2021-22, but Is It Realistic?

The semiconductor market is on a tear, and WSTS forecasts that next year will see solid growth. This Insight examines the likelihood that 2022...

Jim Handy

Will Kioxia IPO Miss Its Window?

Privately-held Kioxia has been hinting at an IPO for a year, and its end market has just set a record. Can the company afford to delay any longer,...

Jim Handy

Memory Chip Market Setting Records

The memory markets: DRAM and NAND flash, are repeating their 2018 performance, with Samsung taking market share gains. Investors should have a look.

Jim Handy

Korean Metaverse ETFs Rebalancing & A Sector Rotation into Semis?

Despite the tremendous surge in the Korean metaverse ETFs in the past five weeks, the metaverse ETFs have been underperforming relative to Samsung...

Douglas Kim

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