Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

The SIA has released April's semiconductor shipment numbers, and they look positive enough.  There is still considerable uncertainty both from the COVID pandemic and from the on-again, off-again US/China Trade War.

The SIA has released April's semiconductor shipment numbers, and they look positive enough.  There is still considerable uncertainty both from the COVID pandemic and from the on-again, off-again US/China Trade War.

Semiconductors in April: COVID Impact Still Small

The SIA released WSTS semiconductor revenues for February.  While there was a small decline attributable to COVID-19, it is clear that February's figures are only the beginning of the upcoming downturn.  This Smartkarma Insight uses the industry's historical trends to give an early and rough indication of how the market might evolve.

The SIA released WSTS semiconductor revenues for February.  While there was a small decline attributable to COVID-19, it is clear that February's figures are only the beginning of the upcoming downturn.  This Smartkarma Insight uses the industry's historical trends to give an early and rough indication of how the market might evolve.

February Semiconductors Show Onset of COVID-19 Decline

Investment Advisors, JL Warren Capital

Junheng Li

Investment Advisors

JL Warren Capital

JL Warren Capital LLC is a leading independent equity research firm focused on Chinese companies and listed multinationals in China. We employ a bottom-up research approach that takes great care to avoid the acquisition of material non-public information. Through investigative due diligence including channel surveys and interviews, our research helps clients to pinpoint the dislocations in the market.

We summarize key takeaways for our checks with the Asian semi supply chain relevant to AAPL’s H1 production and the iPhone 12 launch schedule (incl. 5G model).  <a href="https://www.smartkarma.com/entities/foxconn-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:11950:1" rel="noopener">Foxconn Technology (2354 TT)</a> is at 80% of full capacity in its main iPhone facility in Shenzhen.  However due to the shutdown in plants and logistics services in both Asian and European countries, Foxconn faces shortages in components from around the world.

We summarize key takeaways for our checks with the Asian semi supply chain relevant to AAPL’s H1 production and the iPhone 12 launch schedule (incl. 5G model).  Foxconn Technology (2354 TT) is at 80% of full capacity in its main iPhone facility in Shenzhen.  However due to the shutdown in plants and logistics services in both Asian and European countries, Foxconn faces shortages in components from around the world. 

AAPL Supply Chain COVID-19 Disruption March Update

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Himax Technologies Inc Adr / Equity Bottom-Up

<ul>
<li>Himax's CPO entry is a manufacturing story: it supplies the precision optics — lenses, prisms, V-grooves — inside the fiber array unit, built on 15 years of nanoimprint wafer-level optics.</li>
<li>Third-Party research (Hunterbrook, Ming-Chi Kuo) ties those optics to TSMC's COUPE engine behind NVIDIA's CPO switches, but Himax, TSMC, and NVIDIA have not confirmed it.</li>
<li>Gen 1 (1.6/3.2 Tbps) ships in small quantities from 2H26 and Gen 2 (6.4 Tbps) nears validation; lower volume, higher value than displays, funded by automotive.</li>
</ul>


Himax's CPO entry is a manufacturing story: it supplies the precision optics — lenses, prisms, V-grooves — inside the fiber array unit, built on 15 years of nanoimprint wafer-level optics.
Third-Party research (Hunterbrook, Ming-Chi Kuo) ties those optics to TSMC's COUPE engine behind NVIDIA's CPO switches, but Himax, TSMC, and NVIDIA have not confirmed it.
Gen 1 (1.6/3.2 Tbps) ships in small quantities from 2H26 and Gen 2 (6.4 Tbps) nears validation; lower volume, higher value than displays, funded by automotive.


TechChain Insights Q&A: Himax's Silicon Photonics Powering Nvidia's Next Generation Chips

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Taiwan and US chips rebounded from the prior week's record selloff, but unevenly: semiconductor-equipment makers led while the server assemblers that led the prior leg fell.</li>
<li>With <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)</a>'s 3nm and packaging lines full, Google moved to split its next AI chips across Intel, Samsung<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener"></a>, Marvell, <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener"></a>Broadcom, and Mediatek.</li>
<li>Memory stayed tight: SK Hynix will triple capacity by 2034, NVIDIA trimmed its Vera Rubin specs to fit supply, and Taiwan's listed firms posted a record revenure growth in May.</li>
</ul>


Taiwan and US chips rebounded from the prior week's record selloff, but unevenly: semiconductor-equipment makers led while the server assemblers that led the prior leg fell.
With TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)'s 3nm and packaging lines full, Google moved to split its next AI chips across Intel, Samsung, Marvell, Broadcom, and Mediatek.
Memory stayed tight: SK Hynix will triple capacity by 2034, NVIDIA trimmed its Vera Rubin specs to fit supply, and Taiwan's listed firms posted a record revenure growth in May.


Taiwan Tech Weekly: Chips Rebound After Record Selloff; Rotation Out of Servers Into Semi Equipment

United States

Broadcom Inc. designs, develops, and supplies semiconductor and infrastructure software solutions. The Company offers storage adapters, controllers, networking processors, motion control encoders, and optical sensors, as well as infrastructure and security software to modernize, optimize, and secure the most complex hybrid environments. Broadcom serves customers worldwide.

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Broadcom (AVGO US)

Semiconductors in April: COVID Impact Still Small

The SIA has released April's semiconductor shipment numbers, and they look positive enough. There is still considerable uncertainty both from the...

Jim Handy

February Semiconductors Show Onset of COVID-19 Decline

The SIA released WSTS semiconductor revenues for February. While there was a small decline attributable to COVID-19, it is clear that February's...

Jim Handy

AAPL Supply Chain COVID-19 Disruption March Update

We summarize key takeaways for our checks with the Asian semi supply chain relevant to AAPL’s H1 production and the iPhone 12 launch schedule...

JL Warren Capital

TechChain Insights Q&A: Himax's Silicon Photonics Powering Nvidia's Next Generation Chips

Himax's precision optics play a key role in NVIDIA's CPO switches, with Gen 1 shipping soon and Gen 2 in validation, funded by automotive industry.

Vincent Fernando, CFA

Taiwan Tech Weekly: Chips Rebound After Record Selloff; Rotation Out of Servers Into Semi Equipment

Taiwan and US chips rebounded unevenly, with semiconductor-equipment makers leading while server assemblers fell. TSMC's full capacity led Google...

Vincent Fernando, CFA

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Semiconductors in April: COVID Impact Still Small

The SIA has released April's semiconductor shipment numbers, and they look positive enough. There is still considerable uncertainty both from the...

Jim Handy

February Semiconductors Show Onset of COVID-19 Decline

The SIA released WSTS semiconductor revenues for February. While there was a small decline attributable to COVID-19, it is clear that February's...

Jim Handy

AAPL Supply Chain COVID-19 Disruption March Update

We summarize key takeaways for our checks with the Asian semi supply chain relevant to AAPL’s H1 production and the iPhone 12 launch schedule...

JL Warren Capital

TechChain Insights Q&A: Himax's Silicon Photonics Powering Nvidia's Next Generation Chips

​Himax's precision optics play a key role in NVIDIA's CPO switches, with Gen 1 shipping soon and Gen 2 in validation, funded by automotive industry.

Vincent Fernando, CFA

Taiwan Tech Weekly: Chips Rebound After Record Selloff; Rotation Out of Servers Into Semi Equipment

​Taiwan and US chips rebounded unevenly, with semiconductor-equipment makers leading while server assemblers fell. TSMC's full capacity led Google...

Vincent Fernando, CFA

Himax's precision optics play a key role in NVIDIA's CPO switches, with Gen 1 shipping soon and Gen 2 in validation, funded by automotive industry.

Taiwan and US chips rebounded unevenly, with semiconductor-equipment makers leading while server assemblers fell. TSMC's full capacity led Google...