Asia and Global Semiconductor and Tech Research

Andrew Lu

Equity Bottom-Up

<h2>Summary</h2><ul>
<li><em><strong>Results beat, but guidance miss: </strong>Intel reports US$0.03 better 3Q16 EPS than Bloomberg consensus' but guides 1% lower 4Q16 sales, lower margins, and US$0.04 lower 4Q16 EPS.</em></li>
<li>
<em><strong>Demand driver was the client computing; in-house inventory was healthy: </strong>Client computing (21% q/q) drove the 3Q16 sales growth of 17% q/q and contributed 74% q/q growth on operating profits. Intel reports 3Q16 2.99 months of inventory, down 4% q/q and only 5% higher than 3-year Avg of 2.85 months but comments few days</em>…</li>
</ul>

Summary
Results beat, but guidance miss: Intel reports US$0.03 better 3Q16 EPS than Bloomberg consensus' but guides 1% lower 4Q16 sales, lower margins, and US$0.04 lower 4Q16 EPS.

Demand driver was the client computing; in-house inventory was healthy: Client computing (21% q/q) drove the 3Q16 sales growth of 17% q/q and contributed 74% q/q growth on operating profits. Intel reports 3Q16 2.99 months of inventory, down 4% q/q and only 5% higher than 3-year Avg of 2.85 months but comments few days…


Intel Guides a Pause in 4Q16; Losing Short Term Momentum

Taiwan

Micro-Star International Co., Ltd. manufactures and markets motherboards and video graphic accelerate (VGA) cards.  The Company exports its products to Europe, North America, and other Asian countries.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Micro Star International (2377 TT)

Intel Guides a Pause in 4Q16; Losing Short Term Momentum

Summary Results beat, but guidance miss: Intel reports US$0.03 better 3Q16 EPS than Bloomberg consensus' but guides 1% lower 4Q16 sales, lower...

Andrew Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)