– CHIPS Act more likely to be maimed & cut than outright killed
– Will Legislators reverse flow of equipment to Reshore from Offshore?
– Recent order cuts, Fab Delay & SMIC comments are all negative
– News flow for semi equipment all bad in front of AMAT
– Lam reports another flat quarter & guide- No recovery in sight yet
– Seems like no expectation of recovery until 2025- Mixed results
– DRAM good- NAND weak- Foundry/Logic mixed-Mature weakening
– Clearly disappointing to investors & stock hoping for a chip recovery
Quarterly reports from… Read More
Revenues came in at $3.48B… Read More
-Samsung off the same chip cliff as Micron- “No skid marks”
-Samsung may be winning at a game of “Capex Chicken”
-No expectation of recovery any time soon – Consumers weak
-2023 a write off- Recovery will be delayed if spending isn’t
Samsung pre… Read More
-KLA great quarter & guide as backlog mutes China/Economy
-Patterning starts to catch up to wafer inspection outperform
-China impact is limited to leading edge & specific customers
-Cuts in memory capex less impactful on KLA
Revenues were $2.7B with EPS of $7.06 versus street… Read More
-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
KLAC reported… Read More
-Lam missed on both top & bottom line due to supply chain
-Previous guide was “overly optimistic” about fixing issues
-Demand is great but doesn’t matter if you can’t serve it
-We remain concerned about ability to fix issues in near term.
Lam reported Revenues… Read More
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
