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

TSMC. Why Their Surprise 6nm Process Is A Winning Strategy.

TSMC. Shrugging Of The Competition With Robust 2H19 Outlook & Increasing Demand For Both 7nm & 5nm

A Bull Investment Case for TSMC (In-Depth Version)

TSMC. Reiterating Our Bullish Stance After Earnings

Apple Settles With Qualcomm As Intel Throws In The Towel On 5G Smartphone Modems

Intel's New CEO. The Best An IDM Can Get?

Intel. Dogged By Headwinds In The Year Of The Pig

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

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/11230" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">Taiwan Semiconductor Manufacturing Company</a> delivered a no-surprises earnings report on April 18'th with revenues of $7.1 billion coming in at the top of the revised range forecasted for the quarter. While the company still expects little to no growth for 2019 as a whole, they flagged the first quarter as the bottom of the downturn from their perspective and forecasted second quarter revenues of $7.6 billion, up 7% sequentially.</p>
<p>In addition to reiterating a positive outlook on their customer's inventory levels, the company revealed that they were both gaining market share and experiencing higher than forecasted growth in their HPC and Smartphone segments, largely due to an increasingly positive outlook on the transition to 5G. Meanwhile, we believe that Intel's capitulation on 5G modems for smartphones will bring Apple's modem business back to TSMC via Qualcomm, most likely commencing in the third quarter ahead of the 2019 launch of the latest model iPhone. </p>

Taiwan Semiconductor Manufacturing Company delivered a no-surprises earnings report on April 18'th with revenues of $7.1 billion coming in at the top of the revised range forecasted for the quarter. While the company still expects little to no growth for 2019 as a whole, they flagged the first quarter as the bottom of the downturn from their perspective and forecasted second quarter revenues of $7.6 billion, up 7% sequentially.
In addition to reiterating a positive outlook on their customer's inventory levels, the company revealed that they were both gaining market share and experiencing higher than forecasted growth in their HPC and Smartphone segments, largely due to an increasingly positive outlook on the transition to 5G. Meanwhile, we believe that Intel's capitulation on 5G modems for smartphones will bring Apple's modem business back to TSMC via Qualcomm, most likely commencing in the third quarter ahead of the 2019 launch of the latest model iPhone. 

TSMC Recovery Is Nigh As Tailwinds Mount On 5G Strength & Likely Return Of Apple's Modem Business