Semiconductor CapEx strong in 2021

 Semiconductor CapEx strong in 2021
by Bill Jewell on 06-23-2021 at 10:00 am

Semiconductor CAPEX spending versus change 2021

Semiconductor manufacturers are expanding capital spending in 2021 and beyond to help alleviate shortages. In addition, many governments around the world are proposing funding to support semiconductor manufacturing in their countries.

The United States Senate this month approved a bill which includes $52 billion to fund… Read More


Foundry Fantasy- Deja Vu or IDM 2?

Foundry Fantasy- Deja Vu or IDM 2?
by Robert Maire on 03-26-2021 at 8:00 am

Foundry Profit 2020

– Intel announced 2 new fabs & New Foundry Services
– Not only do they want to catch TSMC they want to beat them
– It’s a very, very tall order for a company that hasn’t executed
– It will require more than a makeover to get to IDM 2.0

Intel not only wants to catch TSMC but beat them at their own Read More


ASML – Strong DUV Throwback While EUV Slows- Logic Dominates Memory

ASML – Strong DUV Throwback While EUV Slows- Logic Dominates Memory
by Robert Maire on 01-24-2021 at 6:00 am

ASML SMIC TSMC EUV DUV

ASML has good quarter driven by DUV & Logic (@72%)
– SMIC & other major customer slow EUV plans
– Logic (read that as TSMC) remains key demand led driver
– We are happy memory remains muted given cyclical potential

A very solid quarter with a continued road to growth
The quarter came in at Euro4,254B… Read More


SMIC Blacklist puts ASML in Jam

SMIC Blacklist puts ASML in Jam
by Robert Maire on 12-20-2020 at 6:00 am

SMIC Blacklisted US

US BIS confirms our prediction of “blacklisting” SMIC
SMIC embargoed from 10NM or better technology
Likely related to ASML pressure & WH scorched earth

Not just the stock

We had received a lot of feedback on our Nov 30th note regarding blacklisting of SMIC suggesting that we were wrong and the only thing blacklisted… Read More


The Semiconductor Industry Has High Hopes That Biden Will Change Tracks

The Semiconductor Industry Has High Hopes That Biden Will Change Tracks
by Terry Daly on 12-13-2020 at 8:00 am

US China Semiconductor Biden

What is the “right track” for US-China trade relations?

The semiconductor industry has been squarely in the crosshairs of US-China trade tensions for four years. As the US faces a presidential leadership transition, will a Biden administration change the dynamic? The chip industry is counting on it, and China hopes so too.

In … 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


China Semiconductor Bond Bust!

China Semiconductor Bond Bust!
by Robert Maire on 11-25-2020 at 10:00 am

China Semiconductor Bond Bust

– Tsinghua $198M Bond Bust
– Good for memory: Samsung Micron LG Toshiba –
– Not good for chip equipment
– Could China Credit Crunch hit more than foundry embargo?
– Damage to China memory positive for other memory makers
– Not good for chip equip if customers can’t get money

China’s… Read More


TSMC to Build first US Fab in Arizona!

TSMC to Build first US Fab in Arizona!
by Daniel Nenni on 11-15-2020 at 10:00 am

TSMC North America SemiWiki

Well, it’s official, the TSMC Board of Directors approved an investment to establish a wholly-owned subsidiary in Arizona with a paid-in capital of $3.5 billion. As history shows the investment may be more than that but $3.5B is a great starting point. This is being discussed in the SemiWiki Forum  and I have been gathering inside… 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