The Chip Market / China Conundrum

The Chip Market / China Conundrum
by Malcolm Penn on 02-28-2021 at 2:00 pm

China Taiwan Chip Dilema

In its February 20, 2021 edition, the Economist published an article entitled “How to kill a democracy; China faces fateful choices, especially involving Taiwan”.  It went on to quote “To many Chinese, the island’s conquest is a sacred national mission” as well as a by-line “America is losing its ability to deter a Chinese attack… Read More


Noose tightens on SMIC- Dead Fab Walking?

Noose tightens on SMIC- Dead Fab Walking?
by Robert Maire on 12-01-2020 at 6:00 am

SMIC US Embargo

-US Administration to “blacklist” SMIC- Cutting off ALL US help
-A slow death versus a quick death (unlike Jinhua)
-There is enough time on way out door to leave scorched earth
-Reports in the Media about SMIC being “Blacklisted”

It has been widely reported that SMIC will be added to the US “Blacklist”… Read More


Post Election Fallout-Let the Chips Fall / Rise Where They May

Post Election Fallout-Let the Chips Fall / Rise Where They May
by Robert Maire on 11-09-2020 at 10:00 am

US China Trade War
  • Changing US administration likely positive for chips & tech
  • Stepping back from the brink of a potential ugly trade war
  • Likely increased Covid/tech spend- War with Big Tech is over
  • Tech & Chips had a lot riding on the elections outcome

As compared to previous presidential elections, this one likely has much more impact on… Read More


Downplaying SMIC – Uplaying TSMC

Downplaying SMIC – Uplaying TSMC
by Robert Maire on 11-01-2020 at 6:00 am

SMIC China TSMC
  • KLAC sports solid QTR & Guide- Foundry & Logic drivers
  • Management remains dismissive of SMIC embargo
  • Execution & financials are solid but macro headwinds remain
  • Nice September Quarter

KLA reported revenue of $1.54B and Non GAAP EPS of $3.03 versus street expectations of $1.49B and EPS of $2.77. Guidance is for revenues… Read More


Coronavirus Remains Good for Semiconductors but not China

Coronavirus Remains Good for Semiconductors but not China
by Robert Maire on 10-24-2020 at 6:00 am

COVID Semiconductors
  • LCRX puts up a solid QTR and slightly soft guidance
  • China Concerns weigh on future but COVID remains driver
  • Memory spend could be better & help offset China
Solid September Quarter

Lam reported Non GAAP EPS of $5.67 versus $5.19 street and Revenues of $3.18B which was $70M better than street expectations. Lam obviously does … Read More


Like US and China, India must ensure foreign tech companies are locally owned

Like US and China, India must ensure foreign tech companies are locally owned
by Vivek Wadhwa on 10-11-2020 at 6:00 am

Like US and China India must ensure that foreign tech companies here are locally owned

Synopsis: India could learn from both countries, requiring that Facebook India be sold to one of India’s tech tycoons. This would be one step to ensuring that all data be kept locally and tightly protected, and that the algorithms that determine the information that users will receive – which, after all, influences their behaviourRead More


Will the U.S. and China go to War for TSMC?

Will the U.S. and China go to War for TSMC?
by Daniel Nenni on 10-05-2020 at 4:00 am

Will the U.S. and China go to War over TSMC

The semiconductor industry has never been more exciting than it is today and that is a mouthful given what we have accomplished over the last 50 years. From mainframe computers to a supercomputer in our pockets or on our wrists. Even if you don’t believe in miracles, semiconductor technology comes really close, absolutely.

U.S.Read More


SMIC Cut off by US Government is Doomsday Scenario for US Chip Equipment Companies

SMIC Cut off by US Government is Doomsday Scenario for US Chip Equipment Companies
by Robert Maire on 09-27-2020 at 2:00 pm

US versus China Semiconductor

SMIC Cut Off = Worst case scenario
SMIC is on US gov “no fly” list for US Equipment Companies
Will likely lead to loss of all of China- 25% to 50% of revenues
Retaliation by China will worsen situation
SMIC cut off from US technology (Chip Equip)

It has been reported in the Wall St Journal and many news outlets that the US government… Read More


Could loss of SMIC lead to loss of most of China?

Could loss of SMIC lead to loss of most of China?
by Robert Maire on 09-13-2020 at 6:00 am

SMIC Banned

Is the US finally getting truly tough on China? or just a bluff?
Could lead to a global reset of the industry & 10 year retreat?
Tech stocks wings have melted after super heated stock run?
SMIC added to the “naughty” list?

There have been numerous reports that the US is considering adding SMIC to the China “naughty”… Read More


AMAT- Solid QTR & Great Guide- Share gains- Memory?

AMAT- Solid QTR & Great Guide- Share gains- Memory?
by Robert Maire on 08-16-2020 at 10:00 am

Applied Materials AMAT

Higher Foundry/logic exposure helps-
Little or no Covid or China trade impact-
Nice quarter but even better guide-

Applied reported revenues of $4.4B and NonGAAP EPS of $1.06, nicely above street estimates of $4.2B and $0.95 in EPS. Guidance is for revenues $4.6B +-$200M and EPS of $1.17+- $0.06, versus current expectations of… Read More