Asia and Global Semiconductor and Tech Research

Andrew Lu

Former Head of Asia ex-Japan Semiconductor and TFT-LCD/Touch Research at Barclays and Citi Bank, Former Head of Technology at 國金證券

MediaTek's Gross Margin Increase Drives 3Q Profits, But Shares Remain Overvalued to New TWD 283 FVE

MediaTek's Key Customer - Gionee Chairman's Assets Were Frozen by the Court?

TSMC's 30th Anniversary Celebration - Takeaways from Panel Discussion on Semis: The Next 10 Years

Can MediaTek Keep Its Margin Promise if Qualcomm Is Cutting the Price by 30%? Cost Cut Coming

MediaTek Refocuses on Margin, Defocuses on the High-End Smartphone After the Management Changed

TSMC: Strong 2H but Most in Line; Hiking Capex and Pulling in 7nm for Qualcomm?

China Foundry Market Might Be Dominated by TSMC; Our Analysis After IC Insights Report

Equity Bottom-Up

<h2>Summary</h2><p><em>After over 50% appreciation in share price since <a href="https://www.smartkarma.com/entities/772" target="_blank" data-smartkarma-citation="entities:772:1">Mediatek Inc (2454 TT)</a> announced Dr. Rick Tsai as Co-CEO on 22 March 2017 (please see our earlier report " <a href="https://www.smartkarma.com/insights/mediatek-goes-for-tsmc-ex-ceo-dr-rick-tsai-as-co-ceo-and-raises-1q17-earnings-forecast" target="_blank" data-smartkarma-citation="insights:9520">MediaTek Goes for TSMC Ex-CEO Dr. Rick Tsai as Co-CEO and Raises 1Q17 Earnings Forecast</a> ") coupled with stronger than expected 3Q17 results, MediaTek's new 4Q17 guidance (missing sales by 4% and EPS by 18%) clearly is not strong enough to justify the recent rally. Although we are positive on Rick's long-term decision to refocus on</em>…</p>

SummaryAfter over 50% appreciation in share price since Mediatek Inc (2454 TT) announced Dr. Rick Tsai as Co-CEO on 22 March 2017 (please see our earlier report " MediaTek Goes for TSMC Ex-CEO Dr. Rick Tsai as Co-CEO and Raises 1Q17 Earnings Forecast ") coupled with stronger than expected 3Q17 results, MediaTek's new 4Q17 guidance (missing sales by 4% and EPS by 18%) clearly is not strong enough to justify the recent rally. Although we are positive on Rick's long-term decision to refocus on…

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

メディアテックの新たなガイダンスは最近の株価上昇を正当化するほど強力ではない