ASML Will Take Semiconductor Equipment Lead from Applied Materials in 2019

ASML Will Take Semiconductor Equipment Lead from Applied Materials in 2019
by Robert Castellano on 12-02-2019 at 10:00 am

For the first time since 1990, Applied Materials is poised to lose its lead in the semiconductor equipment market, according to my recently published report “The Global Semiconductor Equipment: Markets, Market Shares, Market Forecasts.

Applied Materials, which has been losing market share in the wafer front end (WFE) equipment… Read More


Could TSMC’s spend be part of the seasonal pattern?

Could TSMC’s spend be part of the seasonal pattern?
by Robert Maire on 11-25-2019 at 5:00 am

Is there more downside than upside in stocks?
Entering a seasonally weak period, then what?
Does China trade come back to haunt industry?
Cycle is past the bottom-But what kind of up cycle?

The most recent up cycle in the industry was a huge one, driven by a huge spend on NAND as SSD’s sucked up infinite number of devices. DRAM … Read More


AMAT last to confirm foundry led recovery

AMAT last to confirm foundry led recovery
by Robert Maire on 11-18-2019 at 6:00 am

Good end to a weak fiscal year- and end to down cycle
As expected and well telegraphed by TSMC, LRCX, ASML & KLAC, AMAT put up a good quarter and guide as the last to report that the industry has turned the corner on the down cycle. While not a rip roaring recovery, its better to return to growth than continue a downward trend.

Results… Read More


Comparing Applied Materials with Lam Research

Comparing Applied Materials with Lam Research
by Robert Castellano on 10-13-2019 at 8:00 am

Lam Research (NASDAQ:LRCX) will announce its quarterly earnings on October 23, 2019, and Applied Materials (NASDAQ:AMAT) the following month on November 14, 2019. Both companies make equipment used to manufacture semiconductor devices. While private and institutional investors often own both individual stocks, this article… Read More


The Korea/Japan trade war benefits US more than US/China hurts US

The Korea/Japan trade war benefits US more than US/China hurts US
by Robert Maire on 09-18-2019 at 10:00 am

Investors underestimate Japan/Korea trade war, US chip equip companies get collateral benefit, Long term share shifts in China & Korea, Creates near term upside for US companies, Memory Chip Price “Mirage”.
The lesser known trade war
While the market and the news has been pre-occupied with the ongoing soap
Read More

Moore’s Law extended with new "gateless" transistor

Moore’s Law extended with new "gateless" transistor
by Robert Maire on 04-01-2019 at 10:00 am

Micron Buries the Hatchet with China
Micron has a very long history of counter cyclical investing, buying the assets of vanquished competitors when the memory industry is at the bottom of the cycle, such as it is right now.

Over the weekend, Micron announced that it had an agreement to acquire the assets of the now stalled Jinhua memory… Read More


Changes Coming at the Top in Semiconductor Equipment Ranking

Changes Coming at the Top in Semiconductor Equipment Ranking
by Robert Castellano on 12-10-2018 at 12:00 pm

Semiconductor equipment vendor ranking, which didn’t change much between 2016 and 2017, is undergoing a makeover, as Lam Research, ASML, and Tokyo Electron (TEL) are switching places and top-ranked Applied Materials is getting closer to losing its number one ranking.

Since the 1990s, Applied Materials has been the market leader… Read More


The Disconnect Between Semiconductor and Semiconductor Equipment Revenues

The Disconnect Between Semiconductor and Semiconductor Equipment Revenues
by Robert Castellano on 11-27-2018 at 7:00 am

Historically, the semiconductor and semiconductor equipment industry were inextricably linked due to the cyclical nature of the chip industry. An increase in semiconductor revenues was followed within a short period with an increase in equipment revenues, as semiconductor companies purchased equipment to make more chips… Read More


Chip Stocks have been Choppy but China may return

Chip Stocks have been Choppy but China may return
by Robert Maire on 08-19-2018 at 7:00 am

Applied Materials (AMAT) is batting clean up in a quarter that has not been pretty. Lately semi stocks seem to have been hit by not only stock specific issues but continued and increasing memory concerns coupled with more macro issues. On top of all this, China trade issues which have in the meantime taken a back burner to other issues… Read More


AMAT has OK Q2 but Q3 flat to down

AMAT has OK Q2 but Q3 flat to down
by Robert Maire on 05-20-2018 at 7:00 am

“Puts & Takes” “Reduced NAND Expectations” 2019 to be down from 2018. Applied Materials reported a good quarter coming in at $1.22 EPS and $4.567B in revenues versus street of $1.14 and $4.45B.

However if we back out the buy back of 4% it would have been around $1.17 so a slight beat. Guidance was for … Read More