Asia and Global Semiconductor and Tech Research

Andrew Lu

Equity Bottom-Up

Advanced Micro Devices / Equity Bottom-Up

<h2>Summary</h2><ul>
<li><em><strong>A new AMD CPU at less than 50% of Intel one</strong>: AMD announced Ryzen 7 x86 CPUs for PC gamers, creators, and enthusiasts to be performance comparable to Intel Core i7-6900K's but will be selling at less than half price of US$1,028 for Intel CPU. </em></li>
<li>
<em><strong>A gaming CPU price war will begin</strong>: Given the price, performance, and thermal design power advantages on these new AMD x86 CPUs, we expect an inevitable trend for Intel to lose 10ppts shares or more to AMD in the next 12 months unless Intel will cut</em>…</li>
</ul>

Summary
A new AMD CPU at less than 50% of Intel one: AMD announced Ryzen 7 x86 CPUs for PC gamers, creators, and enthusiasts to be performance comparable to Intel Core i7-6900K's but will be selling at less than half price of US$1,028 for Intel CPU. 

A gaming CPU price war will begin: Given the price, performance, and thermal design power advantages on these new AMD x86 CPUs, we expect an inevitable trend for Intel to lose 10ppts shares or more to AMD in the next 12 months unless Intel will cut…


Will a Gaming CPU Price War Between Intel and AMD Begin?

<h2>3Q16 results and 4Q16 guidance beat Bloomberg consensus</h2><ul>
<li>
<strong>Results beat</strong>: <a href="https://www.smartkarma.com/entities/11409" target="_blank" data-smartkarma-citation="entities:11409:1">Amkor Technology Inc (AMKR US)</a> reports 3Q16 EPS of US$0.25, which was US$5 cents better than Bloomberg consensus' US$0.20 due to 3% higher in sales and 2ppts better on gross and operating margin for a better mix and stronger utilization.</li>
<li>
<strong>Guidance beats</strong>: Helped by solid demand from nearly all end markets, Amkor guides better than seasonal 4Q16 sales decline of 1% to 9% q/q (midpoint as -5% q/q vs. Bloomberg's -6% q/q) but up…</li>
</ul>

3Q16 results and 4Q16 guidance beat Bloomberg consensus

Results beat: Amkor Technology Inc (AMKR US) reports 3Q16 EPS of US$0.25, which was US$5 cents better than Bloomberg consensus' US$0.20 due to 3% higher in sales and 2ppts better on gross and operating margin for a better mix and stronger utilization.

Guidance beats: Helped by solid demand from nearly all end markets, Amkor guides better than seasonal 4Q16 sales decline of 1% to 9% q/q (midpoint as -5% q/q vs. Bloomberg's -6% q/q) but up…


Amkor Beats on Structural Improvement or Pre-Merger Windows Dressing?

China

TongFu Microelectronics Co., Ltd. manufactures integrated chips. The Company provides assembling and testing service for memory, microprocessor, micro-controller, hybrid circuit, analog circuit, and other related services throughout China.

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TongFu Microelectronics (002156 CH)

Will a Gaming CPU Price War Between Intel and AMD Begin?

Summary A new AMD CPU at less than 50% of Intel one: AMD announced Ryzen 7 x86 CPUs for PC gamers, creators, and enthusiasts to be performance...

Andrew Lu

Amkor Beats on Structural Improvement or Pre-Merger Windows Dressing?

3Q16 results and 4Q16 guidance beat Bloomberg consensus Results beat: Amkor Technology Inc (AMKR US) reports 3Q16 EPS of US$0.25, which was US$5...

Andrew Lu

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52-week Range

Market Cap (USDm)

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