KLAC same triple threat headwinds Supply, Economy & China

KLAC same triple threat headwinds Supply, Economy & China
by Robert Maire on 08-07-2022 at 10:00 am

KLA Tencor

-KLA sings same cautionary song as LRCX (with Intel Chorus)
-Sees similar softening of WFE & second half
-Same Government “notice” on China/14NM – Same supply ills
-We remain concerned about share loss in patterning

Deja Vue, all over again- Great QTR & Guide amid caution & softening

KLAC reported… Read More


LRCX – Great QTR and guide but gathering China storm

LRCX – Great QTR and guide but gathering China storm
by Robert Maire on 08-04-2022 at 10:00 am

Lam Research Headquarters

-Lam reports record QTR and great guide amid growing anxiety
-Weakness has not yet trickled down to Lam’s order book
-Company contacted by US government on new China restrictions
-Combination of supply issues/China/economy cut WFE view

Numbers are great

Lam reported revenues of $4.64B and EPS of $8.83 which represented… Read More


ASML- US Seeks to Halt DUV China Sales

ASML- US Seeks to Halt DUV China Sales
by Robert Maire on 07-10-2022 at 6:00 am

China Semiocnductor Ban DUV EUV

-If you can’t beat them, embargo them
-It has been reported US wants ASML to halt China DUV tools
-US obviously wants to kill, not just wound China chip biz
-Is this embargo the alternative to failed CHIPS act?
-Hard to say “do as I say, not as I do”- but US does anyway

First EUV ban now DUV ban? Are process & yieldRead More


Micron kicks off the down cycle – Chops 2023 capex – Holding inventory off street

Micron kicks off the down cycle – Chops 2023 capex – Holding inventory off street
by Robert Maire on 07-02-2022 at 10:00 am

Stock Crash 2022

-Micron reports weak outlook for fiscal Q4
-2023 capex to be down versus 2022 capex of $12B & Q3’s $2B
-Company keeping inventory off street to support pricing
-Memory is usually the first shoe to drop in a down cycle

Sharp drop in demand at end of Q3…..

Micron reported a sharp drop in demand at the end of its fiscal Q3,… Read More


Has KLA lost its way?

Has KLA lost its way?
by Robert Maire on 05-01-2022 at 6:00 am

KLA SPIE 2022

-KLA has another great QTR in face of overwhelming demand
-Supply chain issues obliterated by backlog
-Longer term technology leadership concerns are increasing
-We see limited upside near term & remain cyclically cautious

Another great quarter- demand remains super strong

KLA’s performance remains great as does… Read More


AMAT – Supply Constraints continue & Backlog Builds- Almost sold out for 2022

AMAT – Supply Constraints continue & Backlog Builds- Almost sold out for 2022
by Robert Maire on 02-20-2022 at 6:00 am

Applied Materials

-Production constraints push backlog up $1.3B to $8B
-Looks like $100B in WFE 2022 VS $80B in 2021
-Almost sold out for 2022- Could lead to continued growth 2023
-Insp/metrology up 68% Y/Y- Expect steady growth in 2022

Can’t keep up with demand….

Revenue came in at $6.27B and NonGAAP EPS of $1.89. A very slight beat of … Read More


KLAC- Great quarter and year – March Q is turning point of supply chain problem

KLAC- Great quarter and year – March Q is turning point of supply chain problem
by Robert Maire on 01-30-2022 at 10:00 am

KLAC Foundry Logic

-KLAC – great QTR & calendar year but supply chain impacted
-Management feels supply chain to improve after March Q
-Demand remains strong, driven by foundry/logic
-Process management is next best place in industry after litho

Great end to calendar year

KLA reported revenues of $2.53B with non GAAP EPS of $5.59 nicely… Read More


KLAC- Foundry/Logic Drives Outperformance- No Supply Chain Woes- Nice Beat

KLAC- Foundry/Logic Drives Outperformance- No Supply Chain Woes- Nice Beat
by Robert Maire on 11-04-2021 at 8:00 am

KLAC Tencor SemiWiki

KLA- great quarter driven by continued strong foundry/logic
No supply chain hiccups- Riding high in the cycle
Wafer inspection remains driver with rest along for the ride
Financials remain best in industry

A superb quarter
There was little to complain about in the quarter. Revenues of $2.1B and EPS of $4.64, both nicely beating… Read More


Will EUV take a Breather in 2021?

Will EUV take a Breather in 2021?
by Robert Maire on 02-07-2021 at 6:00 am

KLA EUV Slowdown

-KLAC- Solid QTR & Guide but flat 2021 outlook
-Display down & more memory mix
-KLAC has very solid Dec Qtr & guide but 2021 looks flattish
-Mix shift to memory doesn’t help- Display weakness
-Despite flat still looking at double digit growth
-EUV driven business may see some slowing from digestion

As always, … Read More


Applied Materials Will Regain Semiconductor Equipment Lead From ASML in 2020

Applied Materials Will Regain Semiconductor Equipment Lead From ASML in 2020
by Robert Castellano on 11-29-2020 at 10:00 am

2020 WFE Share

On December 2, 2019, I posted a SemiWiki article entitled “ASML Will Take Semiconductor Equipment Lead from Applied Materials in 2019.”Since losing its dominance for the first time since 1990 in 2019, Applied Materials is poised to lose its retake the 2020 lead in the semiconductor equipment market. ASML led the… Read More