Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul>
<li>Micron's earnings were… acceptable.</li>
<li>
The market didn’t like the guide, but I think it is more of a function of expectations management.
</li>
<li>
Micron is clearly on the upswing, and the stock needs healthy revenue and profit beats.

</li>
</ul>


Micron's earnings were… acceptable.

The market didn’t like the guide, but I think it is more of a function of expectations management.


Micron is clearly on the upswing, and the stock needs healthy revenue and profit beats.




Micron Earnings, SiTime, Consumer, and Applied Materials Insider Sale

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

<ul>
<li>Data Centers -- Traditional Data Center Recovery Starting; In Addition to HBM Demand, SSD Memory Seeing Strength for AI Applications</li>
<li>PCs -- Upcycle to Accelerate "Late CY2024E", Driven by Windows 12 and End of Windows 10</li>
<li>Mobile Devices -- Moderate Growth in CY2024E; Potential for Smartphone Upgrade Cycle Acceleration</li>
</ul>


Data Centers -- Traditional Data Center Recovery Starting; In Addition to HBM Demand, SSD Memory Seeing Strength for AI Applications
PCs -- Upcycle to Accelerate "Late CY2024E", Driven by Windows 12 and End of Windows 10
Mobile Devices -- Moderate Growth in CY2024E; Potential for Smartphone Upgrade Cycle Acceleration


Memory Monitor: Micron's Shares May Be Falling But Results' Industry Implications Are Positive

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

<ul>
<li>Expect Micron to report strength in AI, highlight the company's HBM efforts, and quote McKinsey's trillion-dollar forecast in their earnings call tomorrow</li>
<li>Although Nvidia's growth has really helped the DRAM market, along with 2023 CapEx cuts, there are important concerns of double-ordering which could lead to a collapse soon</li>
<li>Semiconductor market revenues have leveled off since December 2023, hinting a return to more normal growth for the rest of the year</li>
</ul>


Expect Micron to report strength in AI, highlight the company's HBM efforts, and quote McKinsey's trillion-dollar forecast in their earnings call tomorrow
Although Nvidia's growth has really helped the DRAM market, along with 2023 CapEx cuts, there are important concerns of double-ordering which could lead to a collapse soon
Semiconductor market revenues have leveled off since December 2023, hinting a return to more normal growth for the rest of the year


TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Taiwan Shares Fall With Nvidia... SK Hynix HBM DRAM with Global Unichip? Taiwan's Vietnam Shift Continues... Broadcom Developing an AI Chip with Bytedance</li>
<li>TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing </li>
<li>UMC (2303.TT; UMC.US): The Outlook for 3Q24 Has Reached a Slightly Upside QoQ. </li>
</ul>


Taiwan Shares Fall With Nvidia... SK Hynix HBM DRAM with Global Unichip? Taiwan's Vietnam Shift Continues... Broadcom Developing an AI Chip with Bytedance
TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing 
UMC (2303.TT; UMC.US): The Outlook for 3Q24 Has Reached a Slightly Upside QoQ. 


Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

<ul>
<li>Computex showed how Micron has successfully leap-frogged SK Hynix and Samsung in HBM DRAM for AI Servers.</li>
<li>Now, older 'boring' DRAM prices could surge as HBM DRAM production is voraciously consuming memory fab capacity.</li>
<li>Why Nanya Tech shares could surge higher -- A DRAM memory trade for those who don't want to chase steep 52-week highs in Micron and SK Hynix.</li>
</ul>


Computex showed how Micron has successfully leap-frogged SK Hynix and Samsung in HBM DRAM for AI Servers.
Now, older 'boring' DRAM prices could surge as HBM DRAM production is voraciously consuming memory fab capacity.
Why Nanya Tech shares could surge higher -- A DRAM memory trade for those who don't want to chase steep 52-week highs in Micron and SK Hynix.


Memory Monitor: Computex Showed Micron Leapfrog SK Hynix and Samsung; 'Boring' DRAM Could Now Hot Up

United States

Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.

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Micron Technology (MU US)

Micron Earnings, SiTime, Consumer, and Applied Materials Insider Sale

High expectations for Micron, SiTime Spectrum-X (s/o Ian Cutress) and Consumer Bottoming, and thoughts on Semiconductors (Bearish!)

Fabricated Knowledge

Memory Monitor: Micron's Shares May Be Falling But Results' Industry Implications Are Positive

Discusses the recovery of traditional data centers, strength in SSD memory for AI applications, upcycle in PCs driven by Windows 12, and potential...

Vincent Fernando, CFA

Micron Earnings - What to Expect

Micron will highlight AI strength & HBM in its earnings call, but double-ordering could soon lead to a market collapse. Semiconductor market...

Jim Handy

Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

New Vietnam investments by Hon Hai and Wistron, Elan preparing for significant AI PC uptake in 4Q24/1H25, UMC's outlook increasingly optimistic for...

Vincent Fernando, CFA

Memory Monitor: Computex Showed Micron Leapfrog SK Hynix and Samsung; 'Boring' DRAM Could Now Hot Up

Micron's HBM DRAM shined alongside Nvidia at Computex. But now the HBM DRAM craze could drive a surge in traditional DRAM prices. Nanya Tech would...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Micron Earnings, SiTime, Consumer, and Applied Materials Insider Sale

High expectations for Micron, SiTime Spectrum-X (s/o Ian Cutress) and Consumer Bottoming, and thoughts on Semiconductors (Bearish!)

Fabricated Knowledge

Memory Monitor: Micron's Shares May Be Falling But Results' Industry Implications Are Positive

Discusses the recovery of traditional data centers, strength in SSD memory for AI applications, upcycle in PCs driven by Windows 12, and potential...

Vincent Fernando, CFA

Micron Earnings - What to Expect

​Micron will highlight AI strength & HBM in its earnings call, but double-ordering could soon lead to a market collapse. Semiconductor market...

Jim Handy

Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

New Vietnam investments by Hon Hai and Wistron, Elan preparing for significant AI PC uptake in 4Q24/1H25, UMC's outlook increasingly optimistic for...

Vincent Fernando, CFA

Memory Monitor: Computex Showed Micron Leapfrog SK Hynix and Samsung; 'Boring' DRAM Could Now Hot Up

​Micron's HBM DRAM shined alongside Nvidia at Computex. But now the HBM DRAM craze could drive a surge in traditional DRAM prices. Nanya Tech would...

Vincent Fernando, CFA

Micron will highlight AI strength & HBM in its earnings call, but double-ordering could soon lead to a market collapse. Semiconductor market...

Micron's HBM DRAM shined alongside Nvidia at Computex. But now the HBM DRAM craze could drive a surge in traditional DRAM prices. Nanya Tech would...