Semiconductor & Technology Specialist, Ingenuity

William Keating

Dr. William Keating is a highly experienced senior executive with over 25 years experience in the IT/Semiconductor Industry. The majority of Dr. Keating's career was spent at Intel Corporation where he held senior leadership positions in Europe, the US and Asia from 1992 through 2014. He served as Intel's IT Director for APAC, China & Japan from 2005 through 2014 when he was based in Hong Kong and was responsible for the IT systems (Infrastructure, Networks, Data Centres, ERP, Sales & Marketing systems, Business Intelligence etc. ) for all of Intel's offices & factories through the region. From 1998 through 2005, he was the founder & director of an internal IT Consulting Organisation (IT Flex Services), a 500-person team which remains a core part of the Intel IT Organisation to this day. Dr. Keating's first 6 years at Intel were spent in charge of the Factory Automation Systems (Robotics, Databases, Networks, Servers, Clients etc.) supporting Intel's then state-of-the-art 200mm factory network. Since leaving Intel in 2014, Dr Keating established his own Technology Research & Consulting Company (www.ingenuity.hk) where he focuses on the products, roadmaps & technologies of companies such as Intel, AMD, Samsung, Apple, Micron- as well as the key equipment suppliers to those companies e.g. ASML, AMAT, Canon, Nikon etc. Dr. Keating specializes in niche topics of high significance within the semiconductor industry. These include the future of Moore's Law and in particular the significance of Lithography in maintaining Moore's Law (EUV, SDA, NanoImprint), the role & growth of the GPU in specialised applications such as Deep Learning (Neural Networks) for Voice, Image & Pattern recognition at companies such as Facebook, Google & Baidu. He also holds regular discussions on the future of memory, in particular the rise of 3D NAND and the emergence of new memory technologies such as 3D Xpoint.

Semiconductor & Technology Specialist

Semiconductors. Is the Bubble About To Burst?

Micron. What The Market Is Missing, For Now.

Intel's Preemptive Strike Against Trade Tariffs

AMD- Why Ryzen Desktop Surges But Mobile Lags

TSMC May Have Another New Customer. Intel.

AMD, Intel And The Spectre Of A Looming Opteron-Style Meltdown

GlobalFoundries Pulls The Plug on 7nm & Gifts TSMC An Apple-Size Customer With AMD

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

Advanced Micro Devices / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/16764" target="_blank" data-smartkarma-citation="entities:16764:1">Intel </a>noted on their Q2 earnings call that they would struggle to meet demand for the remainder of the year and so it has come to pass. During the course of the past few weeks reports have begun to emerge of CPU shortages for both client and server. Now a recent report from Trendforce suggests that the client CPU shortage may be as much as 5-10% in Q4 and persist through H1 2019. Furthermore, confidential documents from <a href="https://www.smartkarma.com/entities/26511" target="_blank" data-smartkarma-citation="entities:26511:1">Hewlett Packard Enterprise</a> which were accidentally publicly available on their website point to the company recommending <a href="https://www.smartkarma.com/entities/19009" target="_blank" data-smartkarma-citation="entities:19009:1">Advanced Micro Devices</a> EPYC server CPUs as alternatives to Intel server CPUs which are in short supply.All of this is of course music to AMD's ears and could not be coming at a better time for them. AMD's H2 2018 forecast from their Q2 earnings call showed surprisingly little upside in comparison to Intel's bullish outlook and FY 2018 raise of $2 billion. Furthermore, while AMD's H1 2018 revenues were significantly boosted by bitcoin mining-related sales, those revenues are set to fall off sharply in the second half.According to our models, AMD will benefit from Intel's supply shortage to the tune of $240 million in Q3 and a further $480 million in Q4 for a total windfall of $720 million in H2 2018, none of which we believe is included in the company's current projections. As the holiday season looms, Intel's gift to AMD is very generous indeed!

Intel noted on their Q2 earnings call that they would struggle to meet demand for the remainder of the year and so it has come to pass. During the course of the past few weeks reports have begun to emerge of CPU shortages for both client and server. Now a recent report from Trendforce suggests that the client CPU shortage may be as much as 5-10% in Q4 and persist through H1 2019. Furthermore, confidential documents from Hewlett Packard Enterprise which were accidentally publicly available on their website point to the company recommending Advanced Micro Devices EPYC server CPUs as alternatives to Intel server CPUs which are in short supply.All of this is of course music to AMD's ears and could not be coming at a better time for them. AMD's H2 2018 forecast from their Q2 earnings call showed surprisingly little upside in comparison to Intel's bullish outlook and FY 2018 raise of $2 billion. Furthermore, while AMD's H1 2018 revenues were significantly boosted by bitcoin mining-related sales, those revenues are set to fall off sharply in the second half.According to our models, AMD will benefit from Intel's supply shortage to the tune of $240 million in Q3 and a further $480 million in Q4 for a total windfall of $720 million in H2 2018, none of which we believe is included in the company's current projections. As the holiday season looms, Intel's gift to AMD is very generous indeed!

Intel's Potential $720 Million Holiday Season Gift To AMD