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)

<ul>
<li>A major earthquake struck Taiwan on April 3, where 25-30% of the world's semiconductor wafers are produced</li>
<li>Most semiconductor fabs are far away from the earthquake's epicenter</li>
<li>Those companies that have issued statements indicate that damage was slight, but there is still likely to be a shortage, which should boost chip maker profitability through 2024</li>
</ul>


A major earthquake struck Taiwan on April 3, where 25-30% of the world's semiconductor wafers are produced
Most semiconductor fabs are far away from the earthquake's epicenter
Those companies that have issued statements indicate that damage was slight, but there is still likely to be a shortage, which should boost chip maker profitability through 2024


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

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Key Taiwan Server Names Soar; Delta Electronics Major Winner of Nvidia's Conference</li>
<li>TSMC (2330.TT; TSM.US): Raising Growth Target to 25%+ YoY in 2024F</li>
<li>Memory Monitor: Micron Leapfrogging Into HBM3E for AI; Nanya Lagging Peers But Poised to Benefit </li>
</ul>


Key Taiwan Server Names Soar; Delta Electronics Major Winner of Nvidia's Conference
TSMC (2330.TT; TSM.US): Raising Growth Target to 25%+ YoY in 2024F
Memory Monitor: Micron Leapfrogging Into HBM3E for AI; Nanya Lagging Peers But Poised to Benefit 


Taiwan Tech Weekly: Key Taiwan Server Names Soar; Raising TSMC Growth Target; Memory Rally

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.

<ul>
<li>
Investing in semiconductors can be pretty simple if you let it be.
</li>
<li>
At a high level, I believe you want to invest in the secular at a decent price or invest in places where there are unwarranted dislocations.
</li>
<li>
Sometimes the entire ecosystem says one thing and the stocks say another. Usually, the ecosystem is right.

</li>
</ul>



Investing in semiconductors can be pretty simple if you let it be.


At a high level, I believe you want to invest in the secular at a decent price or invest in places where there are unwarranted dislocations.


Sometimes the entire ecosystem says one thing and the stocks say another. Usually, the ecosystem is right.




Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>Nvidia GTC Conference This Week Likely to Create Newsflow for Many Tech Names</li>
<li>Samsung Could Hike NAND Flash Prices by 20%; Silicon Motion for Exposure</li>
<li>TSMC Reportedly Placing Orders for Additional Advanced Packaging Capacity, Likely In Response to Demand Strength</li>
</ul>


Nvidia GTC Conference This Week Likely to Create Newsflow for Many Tech Names
Samsung Could Hike NAND Flash Prices by 20%; Silicon Motion for Exposure
TSMC Reportedly Placing Orders for Additional Advanced Packaging Capacity, Likely In Response to Demand Strength


Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Forecasting PC &amp; Smartphone unit shipments to increase 5% YoY on the back on "AI Enablement"</li>
<li>Server unit shipments declined ~20% in 2023 but overall revenues remained flat, a consequence of higher ASPs associated with AI-accelerated servers</li>
<li>Server shipments will return to growth in 2024, likely +10% YoY. Server ASPs will increase yet again YoY as AI-server mix grows. </li>
</ul>


Forecasting PC &amp; Smartphone unit shipments to increase 5% YoY on the back on "AI Enablement"
Server unit shipments declined ~20% in 2023 but overall revenues remained flat, a consequence of higher ASPs associated with AI-accelerated servers
Server shipments will return to growth in 2024, likely +10% YoY. Server ASPs will increase yet again YoY as AI-server mix grows. 


Semiconductor 2023 Key Indicators In Review, 2024 Forecasts

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)

Will Taiwan Quake Trigger a Shortage?

Taiwan's April 3 earthquake should negatively impact semiconductor production to create a shortage that is likely to increase chip makers'...

Jim Handy

Taiwan Tech Weekly: Key Taiwan Server Names Soar; Raising TSMC Growth Target; Memory Rally

The market was generally positive after Nvidia's GTC conference last week with key Taiwan server and other AI-linked names rising substantially....

Vincent Fernando, CFA

Why HBM is the Hottest Thing in Memory

Micron's earnings is just a rehash of what I already talked about. Memory pricing increase is driven by HBM shifting the mix of investment there,...

Fabricated Knowledge

Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

Many Taiwanese companies participating at Nvidia's GTC conference this week. Local reports say Samsung to hike NAND flash prices by 20%. Also,...

Vincent Fernando, CFA

Semiconductor 2023 Key Indicators In Review, 2024 Forecasts

PC & Smartphone unit shipments will increase 5% YoY on the back on "AI Enablement". Server shipments fell ~20% in 2023 but overall revenues...

William Keating

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Will Taiwan Quake Trigger a Shortage?

​Taiwan's April 3 earthquake should negatively impact semiconductor production to create a shortage that is likely to increase chip makers'...

Jim Handy

Taiwan Tech Weekly: Key Taiwan Server Names Soar; Raising TSMC Growth Target; Memory Rally

The market was generally positive after Nvidia's GTC conference last week with key Taiwan server and other AI-linked names rising substantially....

Vincent Fernando, CFA

Why HBM is the Hottest Thing in Memory

Micron's earnings is just a rehash of what I already talked about. Memory pricing increase is driven by HBM shifting the mix of investment there,...

Fabricated Knowledge

Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

​Many Taiwanese companies participating at Nvidia's GTC conference this week. Local reports say Samsung to hike NAND flash prices by 20%. Also,...

Vincent Fernando, CFA

Semiconductor 2023 Key Indicators In Review, 2024 Forecasts

PC & Smartphone unit shipments will increase 5% YoY on the back on "AI Enablement". Server shipments fell ~20% in 2023 but overall revenues...

William Keating

Taiwan's April 3 earthquake should negatively impact semiconductor production to create a shortage that is likely to increase chip makers'...

Many Taiwanese companies participating at Nvidia's GTC conference this week. Local reports say Samsung to hike NAND flash prices by 20%. Also,...