Doesn’t sound like a recovery anytime in 2019

Doesn’t sound like a recovery anytime in 2019
by Robert Maire on 02-18-2019 at 7:00 am

Image RemovedAMAT reported a more or less in line quarter with revenues of $3.75B and Non-GAAP EPS of $0.81 versus street expectation of $0.79 and revenues of $3.71B. Guidance came in well below the street with revenues expected between $3.33B to $3.63B and Non-GAAP EPS from $0.62 to $0.70 versus expectations of $3.66B and $0.77.… Read More


Samsung pre-announces miss on weak memory and phones

Samsung pre-announces miss on weak memory and phones
by Robert Maire on 01-09-2019 at 7:00 am

Image RemovedIt should come as no big surprise that Samsung will miss its Q4 numbers. The company pre announced that profits will be 10.8T KWON (about $9.7B ) versus the 13.2T KWON analysts had predicted, close to a 20% miss. This number is also down about 39% sequentially. Revenue at 59T KWON instead of expected 62.8T KWON and down… Read More


Could China Conflict Curtail Chip Comeback?

Could China Conflict Curtail Chip Comeback?
by Robert Maire on 12-05-2018 at 7:00 am

At the recent trade talks in South America, the US and China both kicked the can down the road as neither one were obviously willing to do a deal nor had done any background work to get a deal done. Instead we have a bunch of empty promises and vague and conflicting descriptions of what was not really even agreed to.

Essentially worthlessRead More


AMAT down 10% as expected Foundry spending slow down unexpected

AMAT down 10% as expected Foundry spending slow down unexpected
by Robert Maire on 08-19-2018 at 12:00 pm

Image RemovedApplied reported a more or less in line quarter, slightly beating weaker expectations. As we had projected, the October quarter is expected to have revenues down 10% which is at the low end of our expected 10-15% drop in business. Applied services helped partially make up for some of the equipment sales weakness. Revenue… Read More


Semiconductor Cycles Always End the Same Way

Semiconductor Cycles Always End the Same Way
by Robert Maire on 06-24-2018 at 3:00 pm

It appears the current cycle has rolled over? The reason is memory & could be worsened by trade Figuring out length, depth and impact of the downturn? We had said that AMAT “called” the top of the cycle on their last conference call even though they may not think so. Semiconductor cycles always ends the same way. The… Read More


Are memory makers colluding against China?

Are memory makers colluding against China?
by Robert Maire on 06-07-2018 at 12:00 pm

Image RemovedMaybe OMEC is the new OPEC? A bargaining chip in June trade show down?

China has started an apparent investigation into pricing of DRAM memory with Samsung, Micron and SK Hynix as targets. We find this somewhat coincidental given the current trade issues. Memory pricing has been unusually strong for a very long time.… Read More


China Chips Taiwan and Technology

China Chips Taiwan and Technology
by Robert Maire on 05-28-2018 at 12:00 pm

Three critical China issues; Trade, Taiwan & Technology. China is a “double edge sword” of risk & opportunity. These issues greatly impact stock valuations. We have recently given a presentation at both the SEMI ASMC conference in Saratoga Springs and The Confab conference in Las Vegas. Both conferences… Read More


Choosing the lesser of 2 evils EUV vs Multi Patterning!

Choosing the lesser of 2 evils EUV vs Multi Patterning!
by Robert Maire on 11-03-2017 at 12:00 pm

Image RemovedFor Halloween this week we thought it would be appropriate to talk about things that strike fear into the hearts of semiconductor makers and process engineers toiling away in fabs. Do I want to do multi-patterning with the huge increase in complexity, number of steps, masks and tools or do I want to do EUV with unproven… Read More


Can the iPhone rollout lift the industry?

Can the iPhone rollout lift the industry?
by Robert Maire on 09-07-2017 at 12:00 pm

Image RemovedWe are in the midst of a number of cross currents buffeting the industry. The Korea risk seems to have escalated again and our government has thrown fuel on the fire by threatening trade agreements at the most inopportune timing possible. However we are also a week away from the roll out of one of the most anticipated Iphones… Read More


Foundry is Majority of KLAC Business!

Foundry is Majority of KLAC Business!
by Robert Maire on 10-23-2016 at 8:00 pm

Image RemovedAs we had projected, with KLA having the highest exposure to foundry/logic of any tool company, they are seeing the most near term strength as foundries (read that as TSMC) spend big for 10NM and 7NM. In addition the first tools you buy are yield management/metrology tools which KLA is the king of.

KLA put up numbers wellRead More