Taiwan Tech Focused Senior Analyst

Patrick Liao

Being invited, I joined Sellside, i.e. JPMorgan, Nomura and Macquarie, totally around 9-10 years. Before that, I joined International Data Corp (https://www.idc.com/) to be the Asia Semiconductor analyst for nearly 2 years, and being invited to do personal lectures in TSMC, UMC, Samsung and etc. In my working experiences, I also had the chance to join Taiwanese panel company, AUO (2409.TT) and the buyside, Chinalife (2823.TT), totally for over 1 year.
I obtained MS degree from the Tsing-Hua University. Then I worked in the Taiwan Semiconductor companies for around 11 years. I had several US patents during my stay in the Semiconductor industry.

Being worked in the sellside and buyside, I deeply dived in the Greater China Semiconductor industry and directly covered some companies, like TSMC (2330.TT, TSM.US), UMC (2303.TT, UMC.US), Vanguard (5347.TT), ASE (3711.TT, ASX.US), SPIL (merged with ASE and delisted), KYEC ( 2449.TT), JCET (600584.CH), ASMPT (522.HK), GWC (6488.TT), WinSemi (3105.TT), Mediatek (2454.TT), Silergy (6415.TT), Novatek (3034.TT), Guoxin Micro (002049.CH) etc.

MediaTek (2454.TT): We Expect High-End 5G Smartphone Chipset Will Aim at 10-14% Shipment in 2022.

MediaTek (2454.TT): 1Q22 Results/​ 2Q22 Outlook- 2Q22 Growth Outlook Could Be near Mid-Single Digits

MediaTek (2454.TT): 1Q22 Results/ 2Q22 Outlook-1Q Revenue Beat, 2Q22 Forecast Is in Line.

TSMC (TSM.US, 2330.TT): Bright Outlook in 2022

2022 High Conviction: MediaTek, High Dividend Yield, Solid Fundamental Outlook, Strong Balance Sheet

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>In our estimate, the 4Q21/1Q22 revenue/GM is about NT$127.6bn/47.5% and NT$136bn/47.5% respectively. </li>
<li>We forecast MediaTek to ship 4G/5G for ~355mn/220nm chipsets in 2022 respectively. </li>
<li>Besides Oppo, Vivo, Xiaomi and Honor, MediaTek is shipping for a few thousand sets of Dimensity 9000 to Samsung in 1H22. </li>
</ul>


In our estimate, the 4Q21/1Q22 revenue/GM is about NT$127.6bn/47.5% and NT$136bn/47.5% respectively. 
We forecast MediaTek to ship 4G/5G for ~355mn/220nm chipsets in 2022 respectively. 
Besides Oppo, Vivo, Xiaomi and Honor, MediaTek is shipping for a few thousand sets of Dimensity 9000 to Samsung in 1H22. 


Taiwan Semiconductor (TSMC) - ADR (TSM US)

MediaTek (2454.TT): 1Q22 Preview-A Little Bit Higher in Revenue Outlook

Mediatek Inc

MediaTek (2454.TT): 1Q22 Preview-A Little Bit Higher in Revenue Outlook