1. 'The strongest seller's market in history' The passive component industry has made a full blow up;
Since the beginning of last year, passive components have been affected by the structural changes in the industry, and the application demand is strong. Among them, passive devices such as MLCCs, chip resistors, and aluminum electrolytic capacitors are unequal in supply and demand, and are out of stock prices and continue to this day. Passive components industry in the second quarter will welcome the most complete price increase lineup!
It is predicted that MLCC has not improved due to the common material gap, and the manufacturers are brewing and revving up again. The price increase endurance has surpassed expectations. Solid-state capacitors are driven by mining heat demand, Taiwan, and Japanese companies have started to increase their inflation mechanism, and the gap exceeds MLCC. , Together with the rise in resistance, the 2nd quarter is the most powerful seller market in the history of the passive components industry.
Yesterday, the market announced that the manufacturer planned to increase the price of commonly used MLCC materials again in the second quarter. Since there was no improvement in the gap, there was more than one manufacturer that planned to increase the price. ASIMCO issued a price increase notification to clients last week. Full range of MLCC prices.
It is understood that the MLCC's most lacking specifications are concentrated in 0402, 0603 medium capacity products, especially in 0402, due to the Japanese supplier Dachang Murata supplying mainly to the EMS factory, the amount released to the channel provider is minimal, and Kyocera reduced production. The prices are raging, and some orders are flocking to the new Huaxin Branch. The channel operators are worried that these commonly used materials are widely used and are now very tight. The third quarter is scarce due to the peak season effect.
Since MLCC broke out of stock shortage last year, the price increase rate or endurance is rare in history. The production capacity of general products is still missing. In order to avoid customer's broken material, Guoda will allocate 20% of the spot open channel distributors and EMS factory will use the bidding method. Delivery, the price is determined by the customer, due to the giant giant is a general product capacity, price strategy for action. Guo Guo's safety inventory levels fell more than a year, through the mainland mobile phone brand factory inventory adjustment 3 quarters, Apple iPhone X Weak sales, through the traditional off-season of electronics industry, MLCC's supply and demand gap has not improved, changes in the structure of supply and demand have proved a single downstream applications, can not shake the passive component industry boom.
Guo Ju’s forecast is that the intensity of the economy will continue until 2019. A major Japanese company privately estimates that the MLCC shortage will exceed 600 days. These are still based on computable demand, such as mobile phones, NBs, and tablets. Channels believe that 2019 The year may indeed be a balance between supply and demand, but this does not account for the 5G infrastructure, and encourages replacement surges after commercial transfers, nor can it accurately estimate automotive electronics. New energy vehicles will enter the main upgrade segment to drive the demand for passive components. Any downstream application will be in the future. 2 years of outbreak will make supply and demand forecasts comeback again, extending the boom.
As for solid-state capacitors, due to the mining boom, mining orders for aluminum power plants have been queued up after June. Manufacturers and channel operators have started price hikes at the same time. Channel vendors have described that the gap between supply and demand of solid capacitors is even higher than MLCC.
Although governments of various countries have suppressed the trend of virtual currency, the attractiveness of mining is still unabated. In particular, the mining machine runs on a full-time basis. The consumption of motherboards is high and the consumption is fast, which is 3 times that of ordinary PCs. Although solid-state capacitors are digging in the world, The miner did not abandon the high-priced Japanese goods and fully embraced the factory. It produced a multiplier effect on the consumption of passive components. Taiwan factory was the main beneficiary.
Solid capacitor due to the gap between supply and demand expansion, coupled with Japanese goods have been adjusted upwards, Lilong, Shan State also follow up, traders began to reflect the extent of the original factory upgrade, channel dealers said that solid capacitors due to the lack of leading manufacturers The economy is relatively calm, but from the perspective of supply and demand, the market conditions are just as hot and the gap between supply and demand exceeds MLCC.
In terms of resistance, the industry has pointed out that resistance plants that have not yet increased their prices this year have started picking up single-produced products, causing the original hope to counter the giants of the country, and avoiding orders for price increases to rush back to the giants of the country, which will help the resistance plant maintain its upward trend in the second quarter. The spread of some of the deficits has risen more than 1 times.
As a whole, benefit from the influx of mobile phones, automobiles, AI, mining, 5G and other parties, the demand for passive components will continue to be strong, the “high fever” price rise will be difficult to retreat in the short term, and at the same time by VCSEL, 3D sensing, RF components, The weight of various parts such as the base station also pulls passive components. This structural change will extend the boom life of passive components.
2. Foreign media: Broadcom's next potential acquisition target may be MediaTek;
The Motley Fool, a well-known US financial information website, published an article today. After the failure to acquire Qualcomm, Broadcom had three other potential acquisition targets, including MediaTek in Taiwan. Last Monday, US President Trump issued an order. , On the grounds of national security, banned Broadcom from acquiring Qualcomm. After the news came out, the first reaction of the Wall Street technology analysts was that it was not always possible for Bravo to fight 'brake'.
The Motley Fool website today said that apart from Qualcomm, Broadcom has three other potential M&A targets, namely MediaTek, Cirrus Logic and Xilinx.
MediaTek is Qualcomm's biggest competitor in the smart phone SoC market. Research company Counterpoint data shows that in the third quarter of last year, Qualcomm’s share in the global smart phone SoC market was 42%, and that of MediaTek was 14%.
Since the stock price hit a new high in July 2014, MediaTek shares have fallen by nearly 40%. This is mainly due to the slowdown in sales of smartphones and competition from Qualcomm. Even so, MediaTek's SoC chips are still widely used in Samsung. Millet, Sony and Lenovo and other manufacturers of mid-range and low-end mobile phones.
Before the industry generally believed that Intel might acquire MediaTek. But in fact, MediaTek is also a potential target for Broadcom. Currently, Broadcom also provides many parts and components for smart phones, such as power amplifiers and touch screen controllers. If you can with MediaTek SoC bundled will help Broadcom win more shares in low-end devices.
There are also reports that Apple iPhone and iPad will use Intel and MediaTek modems to replace Qualcomm's products. Currently, Broadcom is already Apple's major supplier. If Apple uses MediaTek Modem, it will further improve Broadcom. Position and share in Apple devices.
At present, the market value of MediaTek is approximately US$17 billion. In contrast, Broadcom’s acquisition of Qualcomm’s offer is US$117 billion. Therefore, the acquisition of MediaTek is a breeze for Broadcom.
The Motley Fool believes that in addition to MediaTek, Broadcom’s two other potential acquisitions are Cirrus Logic and Xilinx.
Founded in 1984 in Silicon Valley, Cirrus Logic is a developer of high-precision analog and mixed-signal integrated circuit development for the audio and energy markets. The company valued at US$2.6 billion. Xilinx is headquartered in San Jose, and its chip products are mainly For wireless communications, the value of the enterprise is about 18 billion US dollars. Sina Technology
3. Double-effect theme blessings MediaTek shares rose the most in the past six months;
The IC design leader MediaTek recently reported more positive news in the near-term. As mainland smartphones started to pull goods in March, the market expects to see a 20% growth in the second quarter revenue growth period, and it is reported that in 2019 there will be opportunities to tap into Apple’s smart home speaker HomePod supply chain. Double-effect theme blessings, today's stock price rose sharply, the session was once to 344 yuan, an increase of 8.5%, the largest single-day gains in the past six months.
MediaTek launched the Helio P23 memory gradually last year to regain lost market share. Operations gradually improved, gross margin stabilized and stabilized. This year, P60 memory was redoubled and launched. Good news came out in the beginning of the year. In March, new Chinese mobile phones were released, among which OPPO and Meizu It has been determined that P60 memory will be used, and it will enter the peak season at the end of March. The market originally estimated that MediaTek’s second quarter revenue season will increase by approximately 10%. However, a variety of mobile phones will start to pull at the same time, and market share will rise rapidly. The quarterly revenue will surpass the expected challenge of 20% growth.
In addition to the sharp rise in revenue, the outside world is concerned about the gross margin performance. Due to the better cost structure of P23 and P60, the gross profit margin is expected to rebound to more than 37% quarter by quarter in the second quarter. The research and development organizations predict that the demand for low-end mobile phones may be better than this year. In the high-end mobile phones, MediaTek will launch several low-to-medium-size mobile phone memories in the second half of the year. Its gross profit margin for the full year is expected to rise back to above 38%, with annual revenue growth of 6% to 10%, and annual shipments of approximately 460 million units. 5.4% year-on-year increase.
In addition, the market has reported that the relationship between MediaTek and Apple is expected to be closer. In addition to the market’s previous reports that MediaTek had obtained Apple’s baseband orders, the market has once again spread out. MediaTek has the opportunity to enter the Apple Home Smart Pod HomePod supply chain. MT8516 memory supports Google Voice Assistant, also squeezes Texas Instruments to grab Amazon Echo Dot, and exclusively supplies audio DSP to integrate processor memory. Therefore, the market expects to enter the HomePod supply chain in 2019. Economic Daily
4.Samsung suspended trading for 3 days at the end of April and formally launched the stock split plan;
According to a report from Reuters, South Korea’s Samsung Electronics officially announced on the 16th that its stock will be suspended for three days from April 30th to prepare for stock splitting. Samsung Electronics announced a 50:1 stock split in January 2018. The purpose of the plan is to make it easier for investors to invest in Samsung Electronics stocks. The stock after the spin-off will start trading on May 4th.
According to Samsung's earnings report for the fourth quarter of 2017, Samsung’s revenue rose by 23.7% to KRW 65.9 trillion, while the company’s operating net profit grew by more than 70% to approximately 12.25 trillion won, equivalent to approximately US$ 11.4 billion. Achieved 42.18 trillion won, growing by nearly 85.6%. In addition, Samsung also estimated that memory demand will remain strong in 2018, and will continue to promote the super cycle, which will continue to promote Samsung's stock price growth. In the past year, Samsung's stock price is the highest Achieved 2.618 million won per share, the lowest is also 2.041 million won. In order to enable investors to more easily invest in Samsung's stock, so Samsung decided to split the stock plan.
According to the South Korean Stock Exchange, in a statement, it also stated that the suspension was due to the need to process the relevant procedures for stock splitting. During the period of suspension of Samsung Electronics stocks, data processing and submission of old shares were required. It is actually a very short time for electronic trading to be suspended for 3 days for stock removal. According to experience, it is usually required to suspend trading for 15 days in order to minimize the impact on investors' liquidity. TechNews
5. Samsung celebrates the 80th anniversary of its establishment and cancels the celebration due to Li Zaiyu’s lawsuit;
According to TheInvestor Beijing time on March 19, Samsung Group will celebrate the 80th anniversary of its establishment on March 22. Industry sources stated that due to Samsung’s actual headship, Vice Chairman Lee Jae (Lee Jae) The trial of -yong) is still in progress. Samsung will not hold celebrations and keep a low profile.
On the contrary, Samsung plans to operate a one-month corporate social responsibility program. 'There will be no celebrations this year,' said a Samsung executive. 'Given the trial is still in progress, Vice Chairman Lee Jae-won will not be open for the time being. Appearance. '
Li Zaiyu was imprisoned for one year in prison because he was involved in a pro-government scandal involving the president of South Korea. He was released in February. On February 5 this year, the Seoul Court of Appeal sentenced Li Zaiyu to imprisonment for 2 years and a half, suspended for 4 years, and released in court. However, Li Zaijun still faces the trial of the Supreme Court of Korea.
Samsung was originally a trading company called Samsung Sanghoe, founded by the late Samsung founder Lee Byung-chul on March 1, 1938 in Daegu, South Korea. Samsung Sanghoe is also the predecessor of Samsung.
Since Lee Kun-hee's third son, Lee Kun-hee, announced his second venture in the company’s 50th anniversary in 1988, Samsung began celebrating the company’s creation anniversary on March 22. Lee Kun-hee has been a heart attack since 2014. In hospital treatment.