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1. Qualcomm, the second round of the Qualcomm Board of directors re-election add variables;
Qualcomm (QUALCOMM) Board of Directors has formally rejected the Broadcom of the purchase and proposal, that the value of the company has been significantly underestimated, and fear of a huge regulatory uncertainty, Bo Tong face high Qualcomm refused to meet with both sides of the legal shareholders actively met to communicate, Hope to take advantage of Qualcomm in 2017 at the end of the board re-election, to obtain a more favorable fighting position, Qualcomm, Bo Tong, a new round of proxy acquisition war will be full debut. The International investment agency points out that Qualcomm's declined response has been expected in the industry, because Qualcomm must express the view that the purchase price of $70 per share is significantly lower, otherwise it will highlight the reasonableness of the acquisition, but Qualcomm does not seem to be planning to discuss with Bo, to show the attitude of each ability. As it is possible for the market to sacrifice the strategy of buying a price increase, through the way of raising prices, to buy Qualcomm's stakes in the trading market at high prices, Bo Tong constantly moves and pointed to Qualcomm's action, it seems to inform the market that this is an exorbitant purchase case, there is no thunder, rain situation Bo Tong has already had the plan of the sandbox to deduce, industry expects the next scenario will be the two sides to the high board re-election action, the beginning of the proxy war, since Qualcomm is less than reasonable price to refuse, the Bo can certainly try to raise prices, to win the hearts of Qualcomm investors, or even directly in the market publicly acquired, In the short term Qualcomm is still a passive defense strategy, Bo general rules will be active, at present, it seems that the sky-high acquisition case, Bo Tong has a temporary advantage. Qualcomm's share price was up to $74.51 in the past 3 years, if it decides to pull the purchase price up to $75, its power of attorney and acquisition success will increase with the acquisition price, even if the purchase price increases to more than $80, and there is a premium space of nearly 30% of the current Qualcomm stock price, will be a sweet price target area for investors. The industry is expected to pull up the purchase price is the Bo Tong had to do the action, at that time Qualcomm to persuade corporate shareholders or general investors to wait more, I am afraid that will face a highbrow embarrassing situation, the industry more than expected Bo Tong since has decided to sell, pull up the purchase price to 80 U.S. dollars, in fact, only increase the acquisition cost of about 10%, so, The purchase of a fare increase is a necessary means. Although the high pass declined, it seems to let this hundreds of billions of dollars in the scale of the purchase case, into the vague and difficult phase, but Qualcomm board election process is imminent, plus the Bo Tong has gongs and drums shot, of course, also afraid of long, and even the behind of the process of the golden plot, the industry expects the next Qualcomm, Equity and business battles, as far as possible to take the whirlwind of the way to complete, the final outcome should not be dragged over 2018 years and a half. From the current high pass, the two sides of the battle force to see, to sacrifice the defense strategy of the high Qualcomm, in the short term, it seems only passively waiting for Bo Tong, and the Silver bullet advantage and multiple strategy of the Bo Tong, through continuous communication with Qualcomm corporate shareholders, attempts to start from the internal division of the strategy, fully demonstrated that Bo is in a relatively advantageous position. Digitimes
2. Semiconductor stars to walk the altar of integration wave sweeping the world;
Despite the near-Thanksgiving, the ' game ' between Qualcomm and Bo is still in progress.
A few days ago, high-pass investors released a ' friendly ' attitude, saying they were willing to discuss the takeover plan, but the premise is that it needs to raise the acquisition price at least to $80 per share. The proposal to buy Qualcomm $70 per share was rejected by Qualcomm's board.
Qualcomm officials, though not responding to the news, but it can be seen that the capital behind the Bo Tong is ' stirring ', there are bloggers to the first financial reporter said that Bo Tong's ' ally ' KKR has not been public action, but in the semiconductor mergers and acquisitions case, the strength of the famous US private equity fund is not to be underestimated, Some even dubbed Ceohocktan the ' spokesperson ' of KKR in the semiconductor industry.
Anyway, the ' double pass ' merger is not a special case of semiconductor mergers and acquisitions, and with the industry's competitive situation, both European and American semiconductor giants and Chinese semiconductor companies are facing the double pressure of increasing technological barriers and declining profits, and integration is the trend.
Topology Industry Research Institute analyst Yaojiayang said to the first financial journalist, in addition to Qualcomm's acquisition, the recent Marvell acquisition of Cavium and dialog acquisition of Silego case, from these mergers and acquisitions cases can be seen, semiconductor enterprises on the one hand in strengthening specific areas of the integrity of the solution, On the other hand, it is also preparing to raise the revenue scale.
The giant anxiety in the technology replacement period
The Big bang in technology is rewriting the semiconductor industry, and the European and American giants at the top of the mountain are feeling stronger than ever.
Take Qualcomm as an example. Although the mobile era to beat Intel and other chip giants to become the market rookie, but in artificial intelligence, 5G before the maturity of the Wall Street sniper seems to be somewhat powerless.
Qualcomm's share price has fallen 16% per cent this year, while the shares of the Philadelphia Stock Exchange's semiconductor index rose 41% per cent in the same period, with shares up 47% this year. In the capital markets, fund managers have begun to say they are ' exhausted ' from owning Qualcomm stocks.
' The business model before Qualcomm can be said to subsidize high research and development costs with a lot of royalties, so technology is always at the forefront of the market. However, the model is being challenged by major companies and governments across the country, and Qualcomm is charging for the overall price of the handset, even though the Qualcomm chip in the handset is only a fraction of the total cost. Chen Zihao, the intelligence Bud analyst, told the first financial journalist that, from a few years ago, Qualcomm had been sanctioned by local governments in the name of unfair trade, and that the patent revenues of Qualcomm were gradually falling after the sanctions.
At the same time, reporters combed to find that 2014 for Qualcomm is a watershed. In FY 2014, Qualcomm's operating income was $26.5 billion, with a net profit of $7.97 billion. Since then, Qualcomm's revenue has been shrinking, to $22.391 billion in the 2017 fiscal year. In terms of net profit, the fiscal year 2015 was $5.3 billion, the 2016 fiscal year edged up to $5.7 billion, and then fell to $2017 in the 2.465 billion fiscal year.
The above-mentioned people told reporters that the semiconductor industry mergers and acquisitions acceleration is the root cause of the decline in the gross margin, High-tech stars will soon descend into a common component suppliers, in the pursuit of scale effect, even star enterprises may encounter the fate of the acquisition.
Other companies standing on the ' tuyere ', such as Nvidia, are in a very different situation. Can see that in emerging areas such as artificial intelligence, Nvidia has taken advantage of the first-rate, the vast majority of the world's Neural Training Network is the use of Nvidia's GPU chip, which directly contributed to its continued growth in 2017, Nvidia announced results show that its revenue year-on-year growth of more than 30%, net profit rose nearly 60% .
' New market demand is also spurring new companies to emerge. Semiconductor industry observation analyst Liu Yan told reporters that the leading enterprises to achieve economies of scale and reduce costs, will continue to carry out strategic integration for the purpose of international mergers and acquisitions. At the same time, with the industry into the post-Moore era, enterprises will also accelerate the layout of emerging markets, the subdivision of the pattern of competition to accelerate the reconstruction, around the Internet, automotive electronics, data centers, artificial intelligence and other fields of mergers and acquisitions will be increasingly active.
China's semiconductor industry pressure
Although Qualcomm and Bo Qualcomm's merger and acquisition case has not progressed, but because the two sides in their respective areas of strong position and overlap in certain areas of communication, it is foreseeable that the acquisition if the passage will be in some way to form a super dominance of the market.
The above-mentioned bloggers told reporters that the merger and acquisition prior to the integration of the principle is to make money, cut off the loss of business, and want to sign long-term contract with customers.
' Hocktan bought the Bo Tong after the direct price increase of 25%, if the customer different meaning is directly broken goods. Huawei, a big customer, has been asked to place a single year ahead of demand in order to ensure the availability of old prices. The person told reporters.
The claim has not been confirmed by the two companies, but it is customary to focus on core customers and businesses, and to build technical barriers from the previous market moves.
At the same time, chip giants are also speeding up ' capturing ' a variety of new field unicorn companies, in order to continue to occupy high in the technological change period.
A report released by ICInsights17 Day, a market research body, shows that the total investment in semiconductor equipment this year is about US $90.8 billion, and Samsung Electronics is $26 billion, accounting for more than 20%. Samsung is expected to continue to dominate the semiconductor market by increasing investment in semiconductor equipment or by cracking down on the investment confidence of Chinese semiconductor companies, the report said. If China's nascent semiconductor enterprises do not achieve an epoch-making breakthrough, such as the formation of a ' joint venture ' and so on, can not and Samsung Electronics and other leading enterprises to form a competitive landscape.
Lin Jianhong, the research manager of Topology Industrial Research Institute, agrees with this statement. He told the first financial journalist to look at the global semiconductor market, at present, the IDM (integrated component manufacturing) industry, such as Intel and Samsung accounted for a larger share of the overall market, and at this stage, China's semiconductor companies are more powerful, or chip-designed enterprises, such as Huawei's Heiss, as well as the purple light of the exhibition.
In the 2017-year meeting of China IC design industry, Wei Shaojun, director of IC Design branch of China Semiconductor Industry Association, pointed out that the average gross profit margin of the enterprise was about 29.28%, a little lower than the previous year, according to the statistics of the top 100 IC design enterprises. What is alarming is that the top ten IC enterprise scale growth at the same time profitability is continuing to weaken. This phenomenon began to emerge last year and continues this year. A reluctant to disclose the name of the industry insiders also pointed out to reporters, domestic chip leader of the recent news to change the handsome also reflects the high level of dissatisfaction with the performance, hoping to adjust to prepare to cope with more intense market competition.
' China's semiconductor industry to catch up with foreign companies, must think carefully, the chip design, manufacturing and test integration, the future will have the opportunity to a longer period with foreign companies. Lin Jianhong told reporters. First Financial daily
3. Full screen tide change mobile phone AP Shipping Pace 4Q MTK Qualcomm Market Gap will be narrowed;
Digitimes Research September 2017, October visited the mainland survey analysis, estimated the 4th quarter of 2017 Smartphone application processor (AP) shipments will reach 179 million, compared to the 3rd quarter of 2017 growth 4.1%, 2017 year will be more than 2016 1.4%. Affected by the whole screen, the smartphone industry to modify the design, delay product shipments, MediaTek (Mediatek) Chengxi launched P23, P30 breakthrough China Mobile Storage standard cat.7 specifications, and the visual processor (Vision Processing unit; VPU) integrates with SOC to catch artificial intelligence (Artificial Intelligence; AI) wave, the client achieved results, further narrowing the gap with Qualcomm (QUALCOMM) shipments, the 4th quarter will be reduced to 4.1%. Through the advantages of modem technology, high penetration of the main smartphone industry, any smartphone industry in the market to achieve fruitful results will directly benefit, occupy the market position, from the 2nd quarter of 2017 to the 3rd quarter, that is, benefiting from the increase in Xiaomi mobile phone shipments, However, Qualcomm no longer dominates the cat.7 above AP Market, estimating the 4th quarter face price pressure. The 3rd quarter of 2017 mainland smart phone AP in the brand and white card market sales situation presents two styles. In the brand market part, downstream smartphone industry in 2017 finished inventory to go, regain goods kinetic energy, especially millet mobile phone growth, the main beneficiaries are Qualcomm, The rest of the industry resumed its normal sales cycle at the latest to the 3rd quarter, and maintained a micro-growth, with 11 even fake 19 ambassadors ahead of the 3rd quarter, the total shipments of smartphone AP in the 3rd quarter of 2017 increased by 24.3% to 172 million. White Card market sales are not picking up, mainly because of the 0 component price fluctuations, especially in memory for the play, and foreign orders reduced, coupled with Google since 2017, the gradual blockade without the GMs (Google Mobile Service) verified smartphone, increase the cost of the white card market industry to verify, With the volume of goods suddenly reduced, the main affected industry was the exhibition (Spreadtrum), followed by MediaTek. Digitimes
4. Tsai: Now is the entrepreneurial age;
Tsai, the chairman of MediaTek, said yesterday (21) that the past network behavior, now through the Internet, has become meaningful statistics, through the smart will find the business model, in the resources of the unlimited now, is also the best entrepreneurial era.
Tsai was invited to attend a new book seminar in Jiaotong University yesterday, and Dr. Jian, chairman of the Alibaba Technical Committee, as the father of Aliyun, was talking about the intelligent era, sharing "the Internet * Operation * data" three fusion computing economic future.
Jian said that although Moore's law must exist, the world has to have new rules, the online (being) Law spindle consists of three parts, first, all the information, data should be on the Internet, so that the data is meaningful; Second, these data must be able to flow in order to have its value; Finally, each data flow can be calculated, so the computational power is also very important.
Tsai analysis, Taiwan Semiconductor is a part of the global semiconductor supply chain, can provide more functions and the future, Moore's law is to make the semiconductor industry to move forward the important law, now is 7 nm, some people mentioned that Moore's law will be 5 nm or 3 nm, so there should be two of generations, will come to an end.
Tsai said, now is the generation of online, a lot of information is on the Internet, but also the best entrepreneurial era, because entrepreneurship to solve problems, come up with a new business model, not only rely on computing power, the Internet because there are ubiquitous sensors, through the sensor to collect information, can become meaningful data and data, So now is the best time to start a business, but it takes risks to start a business. Economic Daily
5. Intelligent sensor simulates human brain reading big data
In order to overcome the challenge of the big data, the intelligent sensor solution is built by simulating the human brain to realize layered intelligence from edge sensor, Fusion center to cloud data analysis ...
In order to overcome the challenges of big data, says Robert Bosch, a German electronics company, Bosch, we have to build solutions in a way that is intelligent at all levels, from edge sensors to centralized sensor hubs to cloud data analysis.
Fortunately, our brains have the most intelligent intelligent sensors--including eyes, ears, noses, taste buds and tactile sensitivities--to shape our electronic large data solutions for the needs of the IoT network.
Bosch Sensortec Business Development director Marcellino Gemelli at the International Semiconductor Industry Association (SEMI) recently held the annual MEMS and Sensor Summit (MEMS and Sensor Executive Congress; MSEC said: ' We have to feed the problem of big data into the human brain model generator and then use this model to predict what the optimal solution should look like. Because of the versatility of neurons, these machine learning solutions are enough to operate on multiple levels. '
The neuron is the brain's microprocessor-it accepts thousands of large data inputs, but only outputs a single voltage surge along the axon after receiving the input of thousands of dendritic synapses mediated by memory synapses. Through this way, eyes, ears, receivers of the nose, taste buds and tactile sensors (mainly for presence, pressure and temperature) can handle a large amount of raw large data input beforehand, then transmit summary information along the spinal cord (encoded on the voltage surge wave) to the central ¬---known as the ' old brain ' which is responsible for breathing, Heartbeat and reflex tasks such as the brainstem and automated behavioral centers.
Finally, the preprocessed data is passed through a huge interconnect array-called white matter-to reach the final destination of the conscious part of the brain (the gray matter of the cerebral cortex). Each part of the cerebral cortex is dedicated to the senses of vision, language, smell, taste, and touch, as well as cognitive functions such as attention, reasoning, evaluation, judgment and corresponding planning.
Gemelli said: ' The mathematical operation of the neural network is equivalent to perception, which can be learned through its variable conductance synapse, while the large data is transmitted through the stream. We can add multiple levels of Perceptron to learn all the things that humans can learn, such as the different ways people walk. '
The influence of Moore's law
Moore's law also helps to achieve multi-level perception-known as deep learning (deep learning)-because it provides a common approach to edge sensors, intelligent processing in the center, and analysis in the cloud.
Gemelli said: ' First of all, the quantity is very helpful-the more large the data the better. Secondly, diversity helps to learn the different aspects of things, such as the different gait that people use to walk; Third, the speed at which the Perceptron must respond needs to be quantified. Once you have defined these three parameters, you can optimize the neural network for any particular application. '
For example, Gemelli said, smart watch/Smart phone/Smart cloud combination can control large data separately. Smart watches evaluate instant continuous data from individual users and then send the most important summary data to smartphones every few minutes. Then, smart phones just a few times a day to send a trend summary to the smart cloud. A detailed analysis of the most important data points is carried out in the cloud, and feeds back to specific users who wear smart watches, as well as timely advice on how to achieve the same set goals for other smart watch wearers.
At present, Bosch is using a processor on its edge sensor to simulate these three levels of brain models, enabling them to identify and centralize large data trends before being transferred to the smart hub.
Gemelli said: ' In particular, smart cities need to use built-in processor smart sensors to achieve immediate edge sensor trends. They then send these trends to the sensor hub, analyzing and sending the most important messages to the cloud to analyze actionable information for City managers. '
Compiling: Susan Hong
(Reference Source: Beating IoT big Data with Brain emulation, by R. Colin Johnson) Eettaiwan