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)

The World Semiconductor Trade Statistics for August have just been released, and revenues increased for the second sequential month, a positive sign in a puzzling year.  All in all, it appears that the semiconductor sector is faring well despite the pandemic.  It's far too soon to call this growth a trend, though, but it currently appears that the industry is poised to grow at its historical 3.9% annual average rate.

The World Semiconductor Trade Statistics for August have just been released, and revenues increased for the second sequential month, a positive sign in a puzzling year.  All in all, it appears that the semiconductor sector is faring well despite the pandemic.  It's far too soon to call this growth a trend, though, but it currently appears that the industry is poised to grow at its historical 3.9% annual average rate.

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron</a> reported FQ4 revenues of $6.1 billion, in line with expectations and up 12% sequentially and up 25% YoY. It was a solid result and was the company's third successive quarter of increasing revenues and net income. However, Micron's revenue forecast for the current quarter of $5.2 billion at the midpoint, along with a 7.4 percentage points sequential decline in gross margin, sent the company's share price tumbling in after hours trading. NAND pricing and the loss of Huawei's business were two of the key headwinds pointing to stormy waters ahead for Micron.

Micron reported FQ4 revenues of $6.1 billion, in line with expectations and up 12% sequentially and up 25% YoY. It was a solid result and was the company's third successive quarter of increasing revenues and net income. However, Micron's revenue forecast for the current quarter of $5.2 billion at the midpoint, along with a 7.4 percentage points sequential decline in gross margin, sent the company's share price tumbling in after hours trading. NAND pricing and the loss of Huawei's business were two of the key headwinds pointing to stormy waters ahead for Micron.

Micron. Solid FQ4 But Mounting Headwinds Point To Stormy Waters Ahead

Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Update of <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> earnings,  making sense of the different inventory situation between the investment outlook and strategy as we head into 4Q20 and into 2021.   While the expected recovery was pushed back to 2H21 from <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> hurt sentiment, we still believe it is an excellent chance to BUY and here's why.

Update of Micron Technology (MU US) earnings,  making sense of the different inventory situation between the investment outlook and strategy as we head into 4Q20 and into 2021.   While the expected recovery was pushed back to 2H21 from Micron Technology (MU US) hurt sentiment, we still believe it is an excellent chance to BUY and here's why.

Semi Memory Investing - Don't Be a Smart Aleck

Semiconductor Manufacturing International Corp (SMIC) / Equity Bottom-Up

Semiconductor Manufacturing International Corp (SMIC)

The US Department of Commerce has added SMIC to its Entity List with the intent of limiting the company's access to US technology.  This Smartkarma Insight explores what that might mean to the company, to  China's national semiconductor efforts, and to SMIC's US-based tool suppliers.

The US Department of Commerce has added SMIC to its Entity List with the intent of limiting the company's access to US technology.  This Smartkarma Insight explores what that might mean to the company, to  China's national semiconductor efforts, and to SMIC's US-based tool suppliers.

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

Kioxia Holdings  / Equity Capital Markets

While Kioxia’s value lies in its through-cycle earnings generation, disclosed financials have a limited history. As such, we have combined Kioxia’s financials with those of Toshiba’s Electronic Devices and Storage Solutions segment to get a longer-term perspective on likely forward profitability and how the company has done compared to peers.

While Kioxia’s value lies in its through-cycle earnings generation, disclosed financials have a limited history. As such, we have combined Kioxia’s financials with those of Toshiba’s Electronic Devices and Storage Solutions segment to get a longer-term perspective on likely forward profitability and how the company has done compared to peers.

Kioxia – Examining the Long-Term Margin Trends and Where Fair Value May Lie

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)

August Semiconductor Sales Increase

The World Semiconductor Trade Statistics for August have just been released, and revenue

Jim Handy

Micron. Solid FQ4 But Mounting Headwinds Point To Stormy Waters Ahead

Micron reported FQ4 revenues of $6.1 bil

William Keating

Semi Memory Investing - Don't Be a Smart Aleck

Update of

Ken S. Kim

US Government Puts the Squeeze on SMIC

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Jim Handy

Kioxia – Examining the Long-Term Margin Trends and Where Fair Value May Lie

While Kioxia’s value lies in its through-cycle earnings generation, disclosed financials have a limited history. As such, we have combined Kioxia’s...

Mio Kato

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