This weekly newsletter pulls together summaries of the top ten most-read Insights across Tech Hardware and Semiconductor on Smartkarma.
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1. TSMC (2330.TT; TSM.US): If Intel Was Split Up, What Impact Will It Have on the Foundry Industry?(II)
- Intel Corp (INTC US) established “Intel Foundry Services” in 2021, but it has not shown notable performance until now.
- There is some pessimism regarding providing foundry services in the US.
- Taiwan Semiconductor (TSMC) – ADR (TSM US) should provide foundry services to Intel Corp (INTC US) and potentially other common clients as well.
2. Taiwan Dual-Listings Monitor: TSMC Spread Decline from Near Historical Highs; ChipMOS Discount
- TSMC: +21.1% Premium; Spread Has Fallen From Previous Short Levels, Remains Elevated
- UMC: -0.3% Discount; Middle of the Historical Trading Range, Not Compelling
- ChipMOS: -1.2% Discount; Wait for Deeper Discount Before Going Long
3. Taiwan Tech Weekly: Leaked Mediatek Specs Spur Talk Of “Qualcomm Killer”‘; TSMC on Track in Arizona
- Leaked Mediatek Chip Specs? — Talk of a “Qualcomm Killer”
- Hon Hai in the New York Times — Why Foxconn is Investing in Texas & Thailand
- TSMC’s Arizona 4nm Production On Track to Start 2H25E — Still Expected to Be 30% Higher Cost vs. Taiwan and That’s Okay
4. Silicon Motion: NAND Controller Leader; Positioned for a Transformative 2025E; Structural Long
- We engaged with the company recently — SIMO remains in a strong position to capitalize on global increased need for high-end NAND memory controllers across mobiles, PCs, and enterprise AI.
- SIMO’s strong positioning in the Client SSD market and its technology leadership in PCIe 5 SSD and MonTitan solutions provide significant growth opportunities into 2025E and beyond.
- Reiterate Structural Long. Given the company’s net cash balance sheet, depressed market price, and multi-year growth outlook, in our view a share buyback program would be accretive to shareholder value.
5. Diversity’s Dividend: ESG Insights on Retention in SGX-Listed Companies
- Board Gender Diversity and Turnover: Companies with higher female representation on boards exhibit lower employee turnover rates, indicating that diversity in leadership fosters a more cohesive and inclusive workplace culture.
- Female Workforce Representation: While female workforce representation correlates with higher turnover in non-real estate sectors, the Real Estate sector benefits from slightly improved retention with greater gender diversity.
- For SGX-listed companies, enhancing gender diversity and leveraging board experience present opportunities to drive both social and financial performance.
