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

LRCX Q325. Solid Results, Outlook But China Exposure Is A Glaring Red Flag

Substrate. ASML, TSMC Slayer Or Ideological Pipe Dream?

Semiconductor WFE. China Retains #1 Spending Slot In Q225, US Mulls Yet Further Sweeping Sanctions

ASML: 3Q25 Small Miss, 4Q Guidance a Beat, Still No Visibility on 2026 “revenue Not Below 2025”

Tokyo Electron — Navigating the Cycle, Leveraged to AI/HBM Growth

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

<ul>
<li>Q325 revenues of €7.5 billion, slightly down on the prior quarter and towards the bottom end of the guided range</li>
<li>Looking ahead, the company is forecasting fourth quarter revenues of €9.5 billion at the midpoint, a significant jump QoQ but again in line with prior expectations.</li>
<li>Mood music improved, 2026 revenues "not be below 2025", China sales soared to 42%, but will decline next year, 11% stake in Mistral gets ASML "closer to the AI world"</li>
</ul>


Q325 revenues of €7.5 billion, slightly down on the prior quarter and towards the bottom end of the guided range
Looking ahead, the company is forecasting fourth quarter revenues of €9.5 billion at the midpoint, a significant jump QoQ but again in line with prior expectations.
Mood music improved, 2026 revenues "not be below 2025", China sales soared to 42%, but will decline next year, 11% stake in Mistral gets ASML "closer to the AI world"


ASML Q325 Earnings In Line, Outlook More Positive Compared To Prior Quarter, Big Emphasis On AI

ASML Holding NV

ASML Q325 Earnings In Line, Outlook More Positive Compared To Prior Quarter, Big Emphasis On AI