Semiconductor & Technology Specialist, Ingenuity

William Keating

Dr. William Keating is a highly experienced senior executive with over 25 years experience in the IT/Semiconductor Industry. The majority of Dr. Keating's career was spent at Intel Corporation where he held senior leadership positions in Europe, the US and Asia from 1992 through 2014. He served as Intel's IT Director for APAC, China & Japan from 2005 through 2014 when he was based in Hong Kong and was responsible for the IT systems (Infrastructure, Networks, Data Centres, ERP, Sales & Marketing systems, Business Intelligence etc. ) for all of Intel's offices & factories through the region. From 1998 through 2005, he was the founder & director of an internal IT Consulting Organisation (IT Flex Services), a 500-person team which remains a core part of the Intel IT Organisation to this day. Dr. Keating's first 6 years at Intel were spent in charge of the Factory Automation Systems (Robotics, Databases, Networks, Servers, Clients etc.) supporting Intel's then state-of-the-art 200mm factory network. Since leaving Intel in 2014, Dr Keating established his own Technology Research & Consulting Company (www.ingenuity.hk) where he focuses on the products, roadmaps & technologies of companies such as Intel, AMD, Samsung, Apple, Micron- as well as the key equipment suppliers to those companies e.g. ASML, AMAT, Canon, Nikon etc. Dr. Keating specializes in niche topics of high significance within the semiconductor industry. These include the future of Moore's Law and in particular the significance of Lithography in maintaining Moore's Law (EUV, SDA, NanoImprint), the role & growth of the GPU in specialised applications such as Deep Learning (Neural Networks) for Voice, Image & Pattern recognition at companies such as Facebook, Google & Baidu. He also holds regular discussions on the future of memory, in particular the rise of 3D NAND and the emergence of new memory technologies such as 3D Xpoint.

Semiconductor & Technology Specialist

Semiconductor WFE Spending & Net Income Rebound Strongly In Q3 2019

ASML. Second Half Memory Recovery Is More Hope Than Expectation

Semiconductor Memory. Where Do We Go From Here?

ASML Posts Strong Q3 Earnings & 2017 Forecast

Lithography Leader ASML's Latest Record Results & Outlook Reinforces A Virtually Unassailable Moat

Global Semiconductor Sales Increase 20% YoY in April, 2018 Forecast Revised Upwards

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

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/asml-holding-nv-b0092428-e3ec-4a92-bdd6-2f6eff7f1879" target="_blank" data-smartkarma-citation="entities:28204:1" rel="noopener">ASML</a> last week reported earnings marginally ahead of expectations and delivered an upbeat outlook which reiterated the company's forecast for 2019 to be a growth year in spite of the broader WFE sector experiencing an estimated 20% decline YoY. Embedded in the company's outlook were two significant data points. Firstly, sales to logic customers are strengthening and are now expected to grow 65% YoY, up from 50% previously. Secondly, sales to memory customers continue to weaken are now expected to be down 30% YoY versus 20% previously. Finally, there was a significant update on EUV deployment for DRAM production. The company claims to have met the 2000 wafers per day target required to make EUV viable for DRAM and that customers are already ordering tools, all upside which will further strengthen ASML's competitive positioning in years to come. On the basis of this latest earnings report, we reiterate our bullish stance on the company.

ASML last week reported earnings marginally ahead of expectations and delivered an upbeat outlook which reiterated the company's forecast for 2019 to be a growth year in spite of the broader WFE sector experiencing an estimated 20% decline YoY. Embedded in the company's outlook were two significant data points. Firstly, sales to logic customers are strengthening and are now expected to grow 65% YoY, up from 50% previously. Secondly, sales to memory customers continue to weaken are now expected to be down 30% YoY versus 20% previously. Finally, there was a significant update on EUV deployment for DRAM production. The company claims to have met the 2000 wafers per day target required to make EUV viable for DRAM and that customers are already ordering tools, all upside which will further strengthen ASML's competitive positioning in years to come. On the basis of this latest earnings report, we reiterate our bullish stance on the company. 

ASML. Logic Strength Offsets Memory Weakness To Drive YoY Growth; EUV For DRAM A Major Tailwind

ASML Holding NV

ASML. Logic Strength Offsets Memory Weakness To Drive YoY Growth; EUV For DRAM A Major Tailwind