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1. Qualcomm rejected the first round of acquisition offer, Broadcom: will not give up;
Set micro-grid comprehensive coverage, the evening of November 13, Qualcomm officially rejected the Proposal proposal launched by Broadcom Nov. 6. Broadcom proposed 70 US dollars per share in cash and stock acquisition Qualcomm, the total value of the transaction was 130 billion US dollars.If the The deal was completed and will be the largest M & A deal in the semiconductor industry ever, but today the board of directors at Qualcomm agreed that Broadcom's offer underestimated Qualcomm's value.
According to Bloomberg, Broadcom CEO said: 'We still believe that our proposal is Qualcomm shareholders can see the most attractive and most enhance the value of an option, and their response encouraged us.He said Many have told us that they would like to see Qualcomm sit down and discuss our proposal with us and we are still very much inclined to interact actively with the Qualcomm board of directors and management.
Industry insiders point out that Broadcom has looked for private Top 25 shareholders have talked about the prospects for mergers and acquisitions after the plan has also been approved by the major shareholder, hostile mergers and acquisitions has become one of Broadcom options.
Earlier there was insider said it expects Qualcomm will boycott Broadcom's acquisition plan.The source said Qualcomm will reject Broadcom from two factors.First, Qualcomm would claim Broadcom's offer is too low.Second, Qualcomm will be anti-monopoly Investigate as an excuse.
Qualcomm CEO Steve Mollenkopf said: "Qualcomm is in a better position than any other company in the areas of mobility, the Internet, automotive, edge computing and interconnects and we believe we can create for our shareholders More extra value.
After announcing the offer to block Broadcom, Qualcomm shares recovered earlier lost ground, pre-up to 0.2%, after down more than 1%.
Perhaps, Qualcomm may not resist the merger, it just think Broadcom's asking price can not meet their own, 130 billion seems to be a huge sum of money, but Qualcomm on its own advantage in 5G crystal clear, seeing the first year of the 5G approaching, Broad market already has a considerable part of being about to be Qualcomm into, I am afraid, by contrast, Broadcom's 1300 billion dollar component is too light Moreover, the two sides had a considerable festivals before as early as 12 years ago in May 2005, Broadcom had Sued Qualcomm for infringing on its patents in wireless and wireline communications technologies, while Broadcom also reported some problems with Qualcomm's imports to U.S. authorities, and in just five months, Qualcomm sued Broadcom in turn, claiming the latter infringed It involved two patents on image compression and video encoding and decoding, and it did not end there, with Broadcom filing a lawsuit again in 2007 suing Qualcomm for infringement, perhaps realizing that it would be cheaper for both companies to sue each other, Qualcomm and Qualcomm Broadcom eventually reached a settlement by the end of April 2009, paying a fine of nearly $ 900 million through Qualcomm to Broadcom, while the two said in a statement that they would no longer interact with each other V, but each provides patent licenses for each other.
However, Qualcomm's unrelenting refusal should also be broadcasted, in addition to raising M & A offerings, they also plan to intervene on Qualcomm's board of directors .. If the agreement fails to buy, Broadcom is likely to launch a hostile takeover, the common method is to promise to shareholders Higher prices, higher acquisition offerings, including through increased bond financing.Most of the time, shareholders will be attracted to the interests, and put pressure on the board to ask them to agree to buy, this approach is often referred to as bearish hugging.This approach is often effective - As shareholders interviewed by Bloomberg, they are more concerned about prices.
In addition, there may be a dispute over the power of attorney to gain Qualcomm board seats to increase the likelihood of voting through the merger.According to Qualcomm's governance rules, competitors will be allowed to submit their board members before the December 7 nomination deadline Candidates list, sources said, Qualcomm proposed a number of directors before Qualcomm nominated December 8, which will give Qualcomm shareholders the opportunity to vote for the company's board of directors and forced it to fight with Broadcom.
Qualcomm Broadcom acquisition in the face of the powerful acquisition, Qualcomm is also facing many challenges in the market.Apple first in the United States, Britain, China have to sue Qualcomm, followed by Qualcomm also initiated counter-litigation.As we all know, patent disputes are generally Protracted war, the long case no doubt will kill the market's patience as of September 24, 2017, Qualcomm fourth-quarter revenue of 5.9 billion US dollars, down 6.2% over the same period last year, a decrease of 5%; net profit of 200 million US dollars, more than In the same period of last year, the 1.6 billion U.S. dollars fell by 89%, mainly due to patent litigation between Qualcomm and Apple.Secondly, faced with the upgrading of technology, Qualcomm, which had a strong presence in the 3G era, had no advantage in 4G era In the just started the layout of the 5G era, Qualcomm will also face pressing harder Huawei and other more intense competition in addition to Qualcomm acquired NXP because of regulatory delays in the completion of NXP's share price has been higher than Qualcomm's acquisition Quoted as NXP Semiconductors shareholders, including hedge fund Elliott Management, have insisted on getting higher bid, according to one source, Qualcomm does not intend to large Raise bid for NXP semiconductors, Broadcom as to make a bid to improve the defensive strategy.
The only good news is that at the China-US Entrepreneurs Dialogue held last week, Qualcomm and Xiaomi, OPPO and vivo reached a $ 12 billion purchase intention of three Chinese handset manufacturers. If the cooperation agreement is reached, it is expected to decline for the performance Qualcomm injection of a 'cardiac needle'.
It may not be ruled out that Broadcom finally overcome the market-level and policy-level challenges and succeeded in bringing Qualcomm into the bag, which obviously means that a major reshuffle in the field of communications equipment manufacturing also means the earthquakes in global 5G technology research and development pattern.
2.iPhone X just released on the exposed many problems: handset noise, touch failure;
Set micro-grid November 13 reported
This year, iPhone X has disappointed many cattle, because everyone can buy it on the day of sale, but the delivery delay of up to 4 to 6 weeks only. This pre-sale approach to a lot of fruit powder, but the cattle That is not a good thing.
The company is located in:
However, from November 3 sale so far, some get mobile phone powder mood is not very good, because the current problems on the iPhone X are consumers continue to find.
According to US media reports, some users find that their iPhone X has a noise problem that can occur in any type of audio, including making phone calls, listening to music, ringing tones or sirens, iPhone X configuration or iOS version has nothing to do.Some users say, as long as the maximum volume to open, there will be a slight sound.
A Reddit user reported that because of this problem, Apple's retail store replaced him with a new cellphone, but surprisingly, the new cellphone actually still has a noise problem.It is worth noting that two months ago , Some users of iPhone 8 and iPhone 8 Plus also experienced similar problems.Apple was fixed on iOS 11.0.2 after Apple had fixed iPhone 8's fault through software upgrade.
According to some users who have contacted Apple, Apple has replaced the problematic iPhone X for free.Apple also seems to be collecting information to enable engineers to investigate the issue, which is also the company's routine to deal with any potential software or hardware problems practice.
In addition to the handset problem, the domestic users have feedback to the iPhone X screen at low temperatures will appear outside the touch screen failure. Some users said that when using from indoor to outdoor, suddenly encountered a sudden decrease in temperature, the phone will instantly malfunction It's
In this case, Apple officially released a statement: 'We have mastered some examples of the iPhone X display in the rapid access to low temperature environment will be a brief touch failure, but after a few seconds, the display will be completely normal Response, this issue will be fixed by the upcoming update software '.
Of course, iPhone X more than the above two problems, just last Friday, just a large number of consumers reflected the phone screen appeared very dazzling green lines. Restart the phone can not solve the problem, the current Apple official has not yet comment on the fault.
3. From January to October 2017, domestic handset market shipments dropped 8.3% YoY;
Set micro-mesh news, November 13, the authority of China Institute of Information Communications released in October this year, the domestic mobile phone market analysis report, the report pointed out that in October 2017, the domestic handset market shipments of 38.181 million units, down 9.8% Compared with the same period of last year. There were 64 new models listed, a decrease of 17.9% from the same period of last year. From January to October, the domestic handset market posted 405 million units and 887 new models were listed, down 8.3% and 27.4% respectively year-on-year.
In 4G handsets, 4G handsets shipped 35.828 million units in October, of which 50 were listed, up by 7.8% and 28.6% respectively year-on-year, accounting for 93.8% and 78.1% respectively. From January to October, 4G handsets Shipments of 381 million, 701 new models listed, down 6.4% and 32.9% respectively, accounting for 94.1% and 79.0% respectively.
Netcom accounted for further increase in the proportion of 4G handsets shipped in October, the whole network of mobile phones accounted for 91.8% .From the 4G mobile phone network model, FDD, TD-SCDMA, WCDMA, cdma2000 network accounted for the proportion of 98.8%, 99.6%, 98.6%, 92.0%.
In terms of brand composition at home and abroad, in October, the shipments of domestic branded handsets reached 31.934 million units, down 15.4% over the same period of the previous year, accounting for 83.6% of domestic handset shipments in the same period; 61 new models under listing, representing a decrease of 17.6% 95.3% of the number of new models listed in domestic mobile phones.
In the development of smart phones, in October this year, smartphones shipped 35,806,000 units, down 8.1% from a year earlier, accounting for 93.8% of domestic handset shipments over the same period, of which 28.771 million handsets were shipped from Android. January to October , While the shipment volume of smartphones was 381 million units, down 7.1% from the same period of previous year, accounting for 93.9% of domestic handset shipments in the same period, of which 317 million handsets were shipped from Android handsets.
Overall, there is still room for growth in the domestic smart phone market, with the market still having a certain share of the functional machine market. From January to October this year, 689 new models of smartphones were listed, representing a year-on-year decrease of 34.4% Of the 77.7%, which supports Android operating system 524. In October this year, new models of smart phones listed 50, a decrease of 28.6%, accounting for 78.1% of the total number of new cell phone models over the same period, supporting 45 Android operating system .
4.iPhone X output this quarter increased 35% -45% over the previous quarter, get rid of the bottleneck;
According to a report released by WeChat Investment Consultant Ming-Chi Kuo over the weekend, the bottleneck in the iPhone X production hit has been overcome. Apple and suppliers are trying hard to boost iPhone X output this season. Overall, Guo Mingji estimates iPhone output this season will increase 35% -45% over the previous quarter, on the grounds that iPhone X was greatly praised after the introduction of the market, coupled with the Chinese Lunar New Year stocking needs.
On the other hand, Kwok Ming-kuo expects iPhone 8 output this season may be greatly reduced by 50% to 60%, because large-size iPhone 8 Plus kinetic energy stronger than expected, eroded to the original needs of the iPhone 8. In this case, iPhone 8 Some foundries will be converted iPhone X line, to help balance the market supply and demand.
Canalys, a market research firm, said sales of the larger iPhone 8 Plus surpassed the iPhone 8 for the first time by more than 16%, but sales of Q3 in the third quarter were 15% less than the iPhone 7 in the same period last year. , For iPhone 8 sole foundry Heshuo, iPhone 8 Plus foundry Hon Hai and Wistron, order growth and decline in the first quarter of next year will change.
Apple also seems to see the strong demand for the most high-end iPhone X, not only expected revenue this season between 840-870 billion US dollars, and the profit may be the best in history. In addition, Guo Ming 錤 further optimistic about iPhone X sales kinetic energy Is expected to extend until 2018.
Kwok Ming-hung revealed in the report, Hon Hai from the end of the fourth quarter of this year to start transferring the iPhone 8 Plus line into the iPhone X to deal with more orders for the iPhone X. Observed Hon Hai in the new iPhone assembly operations, Guo Ming-ching pointed out that the first season of Hon Hai season Not weak, the operating energy can be expected next year to continue to benefit The new iPhone has a strong annual growth.
Market speculation, Hon Hai exclusive iPhone X assembly orders, Hon Hai also made iPhone 8 Plus most of the assembly orders.
5. Lynx double 11 mobile phone list: the first sales of the first sales of millet apple;
Sina Technology News November 13 evening news, Lynx today announced the double 11 mobile phone category list, double 11 day cat sales all-day category rose 66% .Among them, Apple ranks the first turnover of the brand list, millet Ranked first in brand sales charts.
In the double-11 mobile phone deal TOP10 brand, Apple in just 1 hour over the previous year's day, all-day turnover up 100%; Huawei 13 minutes to break last year's turnover record, TOP10 brand growth rate ranked first In addition, vivo, Mito are also 1 hour later, breaking last year 's all day deal.
In the Lynx dual 11 day all-day mobile phone brand turnover amount list, Apple ranked first, followed by millet, glory, Huawei, vivo, OPPO, Meizu, Samsung, Mito, Nubian. Millet ranked first, followed by glory, Apple, Huawei, Meizu, vivo, OPPO, Newman, Mito, Samsung.
More than 3,000 yuan mobile phone sales rankings, iPhone accounted for four seats, respectively, iPhone 8 and 8 Plus, iPhone 7 and iPhone 6s Plus, domestic brands are Huawei Mate 10 list in 2000-2999 yuan price, the domestic brands Outstanding performance, millet 6 ranked first, followed by glory 9, iPhone 6, millet note 3 and vivo X9.
From the trend of sales of Lynx dual-11 mobile phones, high-end mobile phones accounted for a higher proportion of consumer upgrades obviously, Lynx handset customers over 3200 yuan, an increase of 30% .Consumers are more concentrated in first-tier cities, from Shanghai, Beijing, Shenzhen , Guangzhou and Hangzhou contributed 62% of the sales to Tmall Dual 11 mobile phones, with men contributing the most, while 18-25 year-old consumers accounted for the highest percentage of mobile phones, with black and gold among all colors Mobile phone is the most popular. (Zhang Jun)
6. Morgan Stanley: Amazon market cap may reach $ 1 trillion a year
According to foreign media reports, according to Morgan Stanley, Amazon may be in the coming year to reach 1 trillion US dollars market capitalization.
Morgan Stanley reiterated to give the stock 'overweight' rating, the best 12-month target price of 2,000 US dollars per share, converted to its market value of about 1 trillion US dollars.
Brian Nowak, an analyst at Morgan Stanley, wrote in an investor note on Sunday: "Amazon's high margin (revenue) shows that the stock is the most aggregated Ideally, the market value will reach 1 trillion U.S. dollars.
Nowak writes: 'We forecast Amazon's revenue for 2022 from 5 parts, such as 1P, 3P, AWS, subscriptions, and ads, using the categorized summation method, and then multiply them by the weighted parameters for each part to calculate the Shares will reach $ 2,000 or $ 1 trillion per share by the end of 2018. The weighted parameters for each component are based on the growth and profitability of the corresponding business.
Nowak shares his method of calculating valuations and his key predictions of every business in Amazon.
He valued Amazon's core retail business at $ 600bn and estimated that its e-commerce business will have annual sales growth of 13% and an operating margin of 5.5% by 2022. Novak also estimates that Amazon's third-party market The business will achieve a 25% interest, tax depreciation and amortization profit within 5 years.
Nowak provided Amazon.com $ 270 billion in valuations and expects annual sales growth of 18% and EBITDA of 50% for the unit in 2022. He also offers a growing subscription and advertising Business 70 billion US dollars and 50 billion US dollars.
Although it outlines Amazon's positive and optimistic outlook for growth, he reiterated his target price of $ 1,250 to Amazon, which is still up 11% from the Friday closing price of the stock.
As of last Friday, Amazon stock has risen 50% this year, the same period the S & P 500 index rose 15%.