Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Silicon Motion 2Q24 Results Take-Aways: Strong Growth & NAND Flash Market Share Gains Expected

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Silicon Motion: Leader in Powerful Niche for Edge AI Memory; Plus Key Wins for Data Center Solution

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Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Silicon Motion Technology / Equity Bottom-Up

<ul>
<li>3Q24 Beats Consensus; Gross Margin Continues Recovery Despite Weakness in Overall Memory Market</li>
<li>Sees Near-Term Weakness in PC &amp; Smartphone Markets; Sees NAND Market Tightening by Mid-2025E</li>
<li>Despite Near-Term Memory Cycle Concerns, Structural Revenue Growth Drivers Remain in Place</li>
</ul>


3Q24 Beats Consensus; Gross Margin Continues Recovery Despite Weakness in Overall Memory Market
Sees Near-Term Weakness in PC &amp; Smartphone Markets; Sees NAND Market Tightening by Mid-2025E
Despite Near-Term Memory Cycle Concerns, Structural Revenue Growth Drivers Remain in Place


Silicon Motion Warns Near-Term Weakness in PC/Smartphone Memory Market; But Remain Structurally Long