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. China, DRAM Tailwinds Driving Modest Recovery

ASML. Still A Safe Harbor In A Semi Storm

ASML. Strong Earnings, Conservative Outlook Albeit With Significant Upside Potential.

A Bull Investment Case for TSMC (Summary Version)

Equity Bottom-Up

<ul>
<li>FY'23 growth forecast increased despite push outs in the EUV order book and lower than expected IBB revenues.</li>
<li>Broad-Based recovery is now looking more like a H1'24 scenario with lingering uncertainty as to how it quickly it will unfold thereafter</li>
<li>System sales to China increased from 8% of revenues in Q1'23 to 24% in Q2'23. Non-China DUV order cancellations are being snapped up by China at an unprecedented rate. </li>
</ul>


FY'23 growth forecast increased despite push outs in the EUV order book and lower than expected IBB revenues.
Broad-Based recovery is now looking more like a H1'24 scenario with lingering uncertainty as to how it quickly it will unfold thereafter
System sales to China increased from 8% of revenues in Q1'23 to 24% in Q2'23. Non-China DUV order cancellations are being snapped up by China at an unprecedented rate. 


ASML Holding NV

ASML. Sanctions? Moi?