Worst Case Scenario now possible!
- Embargo could extend beyond China to Taiwan (TSMC)
- Likely backs up ASML pressure & Huawei indictment
- “Maximum Pressure” campaign similar to Iran
- Not likely to go away through trade negotiations
US to restrict chip equipment sales to Huawei producers
The Wall Street Journal… Read More
Very solid quarter driven by foundry/logic
AMAT reported a very solid quarter, beating the top end of guidance with foundry and logic being the primary drivers of spend. Revenues were $4.16B and EPS of $0.98 non-GAAP versus street of $4.11B and $0.93 EPS.
Guide not too wide… – $300M “Corona Cut”
More importantly,… Read More
- Trend remains positive for 2020 overall
- New tools & EUV suggest better growth in 2020
- Calendar 2019 ends on strong foundry note
KLAC reported revenues of $1.509B and EPS of $2.66 NonGAAP versus street of $1.48B and $2.58. Foundry (TSMC) was obviously the big driver of the quarter and into 2020 as well. Memory remains subdued… Read More
- Is ASML first clandestine shot in US war on China chips?
- Will the action extend further to other chip equip cos?
- China chip cold conflict warming up?
It would appear from a Reuters report yesterday that a behind the scenes “cold war” between the US and China in the chip business has just been exposed and has the potential… Read More
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
- Its “Complicated”- A 3 way Chip Relationship
- Competing for Wafers, Moore’s Law & Love
- Who’s Competing with Whom?
- All’s Fair
The 3 way relationship is more complex than it seems
On the surface it seems simple. AMD and TSMC compete with Intel making its own chips and TSMC making them for AMD. But… Read More
TSMC puts up solid QTR, Capex increase for 5NM and capacity increase, 5G/mobile remains driver- HPC good 7NM, 27% of revs- Very nice margins!
In line quarter-Good guide
TSMC reported revenues of $9.4B and EPS of $0.62 , more or less in line with expectations, perhaps a touch below ” whisper” expectations which had been… Read More
Reports of increasing TSMC 7NM lead times
There have been a number of increasing media reports about lengthening leads times for TSMC 7NM process. From what we have been able to determine its not due to TSMC having a yield bust or other production issues, it is simply one of stronger than expected demand.
There have been reports of … Read More
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
An in line quarter
Applied reported a quarter just above the mid point of guidance and analyst numbers (which mimic guidance) with revenues of $3.56B and EPS of $0.74 with guidance of $3.685B+-$150M and EPS o $0.72 to $0.80, also in line with current expectations. All in all a fairly boring quarter with business bouncing along a soft… Read More