Asia and Global Semiconductor and Tech Research

Andrew Lu

Former Head of Asia ex-Japan Semiconductor and TFT-LCD/Touch Research at Barclays and Citi Bank, Former Head of Technology at 國金證券

Intel Guides a Pause in 4Q16; Losing Short Term Momentum

Macronix: Devices Depend on Company's Memory

Elan Microelectronics - An IT Gem in Taiwan

What Drives Memory Contract Hike of over 20% in 2H16?

Thematic (Sector/Industry)

Taiwan Consumer discretionary / Thematic (Sector/Industry)

<h2>What's new?</h2><p>Intel today raises its 3Q16 sales growth guidance to 13-17% q/q (US$15.6bn, +/-300mn) from 6-14% q/q (US$14.9bn,+/-500mn). Intel attributes the increase to replenishment of PC supply chain inventory and also some signs of improving PC demand. As a result, Intel raises its GAAP gross margin guidance to 62% from 60% earlier.</p><h2>Finding beneficiaries in PC supply chain </h2><ul><li>
<strong>DRAM price rebound is solid: </strong>As we highlighted in our earlier report "<a href="https://www.smartkarma.com/insights/what-drives-memory-contract-hike-of-over-20-in-2h16" target="_blank" data-smartkarma-citation="insights:5807">What Drives Memory Contract Hike of over 20% in 2H16?"</a>…</li></ul>

What's new?Intel today raises its 3Q16 sales growth guidance to 13-17% q/q (US$15.6bn, +/-300mn) from 6-14% q/q (US$14.9bn,+/-500mn). Intel attributes the increase to replenishment of PC supply chain inventory and also some signs of improving PC demand. As a result, Intel raises its GAAP gross margin guidance to 62% from 60% earlier.Finding beneficiaries in PC supply chain 
DRAM price rebound is solid: As we highlighted in our earlier report "What Drives Memory Contract Hike of over 20% in 2H16?"…

Taiwan Semiconductor (TSMC) - ADR (TSM US)

Samsung Electronics Pref Shares (005935 KS)

Intel Raises Guidance on Improving PC Demand; Finding Beneficiaries