1. Intel's large-scale production of 10nm is delayed until next year;
According to the micro-network news, Intel released the news of camp revenues in the second quarter earnings briefing. However, in terms of advanced manufacturing process, it is frankly stated that the time for mass production of 10nm products will be postponed to 2019.
Intel’s second-quarter earnings briefing session announced that it had made a profit of US$4.5 billion in the first quarter, with a surplus of US$0.93 per share, which was better than the analyst’s original estimate of US$0.71, and raised its annual revenue and profit forecast. Demand for data centers and personal computer chips is booming.
In the first quarter of Intel, PC chip business revenue increased by 3% to 8.2 billion U.S. dollars, data center growth 24% to 5.2 billion U.S. dollars, memory chip growth of 20%, Internet of Things growth of 17%. Intel raised its annual revenue forecast to From 66.5 billion to 68.5 billion U.S. dollars, it is optimistic that new demand for artificial intelligence applications will drive data center chip performance.
Foreign reports, Intel’s press release after the law conference said that it is optimizing for the 14nm process, and the architectural innovation of the data center and the client products to be listed this year, but 10nm products are currently only a small amount of shipments, it is expected that a large number The production time will be delayed until 2019.
Foreign reports pointed out that Intel CEO Ke Zaiqi admitted in the financial report conference call that 10nm process technology is a bit more than normal.
2. Intel 10 nanometer production delay, CEO was tortured;
Intel Corp.'s financial results were super bright and the data center's revenue was better than market expectations, which encouraged the share price to jump upwards. However, Intel executives were still tortured by investors in the subsequent earnings conference call. One of the most important concerns is that 10nm process technology will not be available until 2019 for mass production.
Intel’s US stocks on the 26th after the trading day pointed out in the press release (see here) that it is optimizing for the 14-nm process and has made architectural innovations for the data center and the customer-end products that will be introduced in this year (2018). , 10 nanometer products are currently only a small amount of shipments, the time point for mass production is expected to move to 2019.
CNBC reported that Intel executive Brian Krzanich admits on the financial teleconference on the 26th that the company's 10-nanometer process technology deviates from normal by a bit, and the 10% scaling factor does not seem high. But in the nanosphere it will make a big difference.
Investors in the conference call conference are generally worried that the 10-nanometer manufacturing process will postpone volume production and may impact Intel’s competitiveness. Samsung Electronics has already started to produce 10-nanometer chips, including Qualcomm Inc.’s popular “Snapdragon”. ) 835" processor.
TSMC chairman Zhang Zhongmou, who just reported to shareholders in April 20th, said that 10nm has entered mass production at the fastest speed ever, and its first year of mass production accounted for 10% of all annual wafer sales; The industry-leading 7-nanometer process has moved from R&D to the manufacturing stage. Mass production is expected to begin in the second quarter of 2018. The 7-nanometer enhanced process will also enter trial production in 2018.
In this regard, Krzyzewski insists that Intel’s 10-nanometer chip has already begun shipping, and as such, the representative function must work well. He said that designing the database is no problem at all, and if the basic function is doubtful, the product cannot be shipped at all. In addition, the 10nm process processor "Cannon Lake" will be delivered to the data center later this year, but other 10nm chips will not be shipped until 2019.
Intel's financial results released on the 26th ended the year with impressive results. In the first quarter (1-3 months), the industry’s earnings per share were US$0.87, and revenue rose from US$14.8 billion in the same period last year to US$16.07 billion. According to the FactSet survey, analysts originally expected an Intel Q1 industry earnings per share of $0.71 and $15.07 billion in revenue.
In addition, Q1 data center revenue jumped 24% from the same period last year to $5.2 billion, and beat Wall Street's original estimate of $4.83 billion. IoT-related revenue grew 17% to 840 million in Q1. The U.S. dollar was better than the market's original forecast of 823.4 million U.S. dollars.
Looking ahead this season, Intel estimates that the industry's earnings per share, revenue will come to 0.85 US dollars, 16.3 billion US dollars. According to the FactSet survey, analysts originally estimated Intel's Q2 industry earnings per share, revenue will reach 0.81 US dollars, 155.9 One hundred million U.S. dollars.
Intel also raised its outlook for 2018. It is estimated that the company's earnings per share will reach 3.66-4.04 US dollars, and revenue will reach 665-685 billion US dollars. Analysts originally estimated the industry's earnings per share, the revenue will reach 3.57. The dollar, 651.1 billion US dollars.
Intel also estimates that capital spending in 2018 will be between US$14 billion and US$15 billion, with a median value of US$14.5 billion.
Intel rose 3.25% during the normal trading hours to close at 53.05 US dollars; jumped 5.52% afterwards to 55.98 US dollars.
3. Intel's first fiscal quarter revenue of 16.1 billion US dollars net profit growth of 50%;
Sina Technology News Beijing time April 27 morning news, Intel today announced the first quarter of fiscal year 2018 earnings report. Report shows that Intel's first-quarter revenue of 16.1 billion US dollars, compared with 14.8 billion US dollars over the same period last year increased by 9 %; Net profit was $4.5 billion, an increase of 50% compared to $3 billion in the same period last year. Intel's first-quarter results, as well as second-quarter and full-year outlooks, exceeded Wall Street analyst expectations, pushing its post-retreat stock price up More than 5%.
Main achievement:
In the quarter ended March 31st, Intel’s net profit was US$4.5 billion, an increase of 50% compared with US$3 billion in the same period last year; diluted earnings per share was 93 US cents, compared to 61 cents in the same period of last year. Compared to a growth of 53%. Excluding certain one-time items (not in accordance with US GAAP), Intel's adjusted net profit in the first quarter was US$4.2 billion, an increase of 30% compared with US$3.2 billion in the same period of last year; After-tax earnings per share were 87 cents, up 32% from 66 cents in the same period last year.
Intel Intel's revenue for the first quarter was $16.1 billion, an increase of 9% compared to $14.8 billion in the same period last year.
Intel's adjusted earnings per share and revenue in the first quarter were easily exceeded Wall Street analyst expectations. Financial information provider FactSet survey revealed that analysts had expected Intel's adjusted first-quarter earnings per share to be 72 cents, and revenue was 150.7. One hundred million U.S. dollars.
Intel’s operating profit for the first quarter was US$4.5 billion, an increase of 23% compared with US$3.6 billion in the same period of last year. In accordance with US GAAP, Intel’s operating profit for the first quarter was US$4.8 billion, compared with US$4.0 billion in the same period of last year. Compared with a 21% increase, Intel’s gross profit margin in the first quarter was 60.6%, which was a decrease of 1.3% compared to 61.9% in the same period of last year. In accordance with US GAAP, Intel’s gross profit margin was 62.3% in the first quarter, compared with 63.3% in the same period of last year. % compared to a decrease of 1 percentage point. Intel’s operating expenses (R&D, general administration and administration) for the first quarter was US$5.2 billion, a decrease of 4% from US$5.4 billion in the same period last year. Intel’s tax rate for the first quarter was 11.1%, compared to the same period last year. 22.3% compared to a decrease of 11.2%.
Department performance:
According to the division of divisions, Intel Customer Computing Group’s net revenue for the first quarter was US$8.22 billion, compared with US$7.976 billion in the same period of last year; operating profit was US$2.791 billion, which was US$3.031 billion in the same period of last year. Among them, platform business revenue was US$7.615 billion. , $ 7.397 billion in the same period of last year; other business revenue was $ 605 million, compared with $ 579 million in the same period last year.
Intel Data Center Group’s revenue for the first quarter was US$5.234 billion, compared to US$4.232 billion in the same period of last year; operating profit was US$2.602 billion, compared with US$1.487 billion in the same period of last year. Among them, platform business revenue was US$4.824 billion, compared with 38.79 in the same period of last year. Billion U.S. dollars; other business revenue was 410 million U.S. dollars, compared with 353 million U.S. dollars in the same period last year.
Intel IoT Group’s revenue for the first quarter was US$840 million, compared to US$721 million in the same period last year; operating profit was US$227 million, compared with US$105 million in the same period of last year. Among them, platform business revenue was US$719 million, compared with 6.32 million in the same period last year. Billion U.S. dollars; other business revenue was 121 million U.S. dollars, compared with 89 million U.S. dollars in the same period last year.
Intel’s first-quarter non-variable storage solution group revenue was US$1.04 billion, compared to US$866 million in the same period last year; operating losses were US$81 million, and operating losses for the same period last year were US$129 million.
Intel's first-quarter programmable solution group revenue was $498 million, compared to $425 million in the same period last year; operating profit was $97 million, and operating profit for the same period last year was $92 million.
Intel’s other revenue in the first quarter was US$234 million, compared to US$576 million in the same period last year. Operating losses were US$1.166 billion. Operating losses for the same period last year were US$954 million.
Performance Outlook:
Intel expects revenue for the second quarter of fiscal year 2018 to be 16.3 billion U.S. dollars, which will fluctuate by 500 million U.S. dollars. Its operating profit margin is about 28%. Operating profit margins that are not in accordance with U.S. GAAP are about 30%. The tax rate is about 14%. The tax rate that does not comply with U.S. General Accounting Standards is about 13%; earnings per share are $0.85, and earnings per share that are not in accordance with U.S. GAAP are also equal to $0.85, up and down 5 cents. According to data from Yahoo Finance statistics, analysis The average company expects Intel’s revenue for the second quarter of fiscal year 2018 to be US$15.55 billion and earnings per share of 81 cents.
Intel expects revenue for fiscal year 2018 to be 67.5 billion U.S. dollars, which will fluctuate by 1 billion U.S. dollars; operating profit margin is about 29%, and operating profit margins that are not in accordance with U.S. GAAP are about 31%; according to and not in accordance with U.S. GAAP. The tax rate is approximately 13%; earnings per share is $3.79, earnings per share that are not in line with U.S. GAAP are $3.85, and fluctuate by 5%; annual capital expenditures are estimated to be $14.5 billion, up and down $500 million; net The deployment capital was US$12.5 billion, which fluctuates by US$500 million; In accordance with US GAAP, the free cash flow is approximately US$14.5 billion, and it fluctuates by US$500 million. According to Yahoo Finance statistics, the average analyst expects Intel’s 2018 revenue. Annual revenue is US$65.05 billion, adjusted earnings per share is US$3.56.
Change in stock price:
On the same day, Intel's share price rose 1.67 US dollars in the Nasdaq's regular trading, to close at 53.05 US dollars, or 3.25%. In the subsequent trading as of 19:50 U.S. Eastern Time (Beijing Time 7: 50 on the 27th) Intel's share price rose again by 2.94 US dollars to 55.99 US dollars, or 5.54%, to break the 50-week high price. In the past 52 weeks, Intel's highest price was 54.36 US dollars, the lowest price was 33.23 US dollars. (Tang Feng)
4. Guo Ju mergers and acquisitions: public acquisition of Jun Yao, overweight investment in Jiabang;
According to the micro-message news, Taiwan's leading passive component giant Guoda announced on the 27th that it intends to acquire the full equity of the protective component plant Junyao in the open market at NT$73 per share, with a total purchase amount of up to NT$3.365 billion. The acquisition of Junyao-KY will increase the proportion of protection components, make the product portfolio more complete, and enhance the competitiveness of other international passive component players.
During the period of the public acquisition of Guoge from May 4th to June 21st, the company publicly acquired approximately 46.1 million shares of Junyao-KY common shares, and the public acquisition achievement condition was 23.055 million shares, accounting for 50.1% of the total number of acquisitions. The total acquisition is expected. The amount was from RMB 1.686 billion to RMB 3.365 billion, which was calculated based on the June closing price of Junyao-KY of NT$ 65.9, with a premium of 10.7%. Guo Ju stated that this case was a matter of mutual agreement and the operating team and major shareholder agreed with the case.
Guo Ju pointed out that the acquisition of Jun Yao-KY's strategy aims to increase product portfolio and expand the provision of customer's one-stop shopping service for passive component products. Guo Ju said that the NT$73 per share purchase price is mainly reference to Jun Yao - KY financial information and recent market prices are assessed using market price method and other evaluation methods. Independent experts are asked to issue opinions on the reasonableness of the purchase price of Junyao-KY.
For the acquisition, Guojie Zhang, the financial assistant of Guoge, said that in general, the premium rate for the electronic industry acquisitions is generally between 10% and 20%, and the premium for this acquisition is about 10.7%, which is in line with the general purchasing conditions.
The public acquisition was completed entirely in cash. As of the end of the first quarter of this year, the country’s giants had approximately 20 billion yuan in cash, and the funds were quite abundant.
Junyao-KY's industrial layout focuses on safety control, communications, automotive electronics, power supplies, and smart meters. Its customers include major mainland Chinese manufacturers in the above-mentioned areas, with a relatively high proportion of safety controls, accounting for approximately 23% of the total operating volume. In the rest of the car electronics, smart meters also have complementary roles with the national giant in the market.
Guo Ju stated that there are four Junyao-KY production sites and R&D centers in Taiwan and mainland China. There are nine sales offices worldwide and the total number of employees is about 1,100. After the acquisition of Junyao-KY, the company can sell the company's current sales. Strengthen, improve operations.
Jun Yao-KY stated that the review committee will be convened within 15 days after receipt of the public offeror’s acquisition notice to review the identity and financial status of the public purchaser, the fairness of the acquisition conditions and the reasonableness of the source of the purchase funds, and invites independent experts to express their opinions. .
In addition, the passive component leading factory giant Guomei announced on the 27th, an increase in the holding of Jiabang shares, the release of the source of shares for the best shareholder of Xinbang Xinbang; Accumulative Kaimei holdings of Jiabang has been raised to more than 19%. Kaimei also said that The two sides will begin substantive contact on industrial cooperation.
Kaimei announced yesterday that it has re-focused on the market to obtain about 4,162 Jiabang shares, 35 new joint holdings, a total of 4,197 shares, and the transaction counterpart is Xinbang, the second largest shareholder of Jiabang. The transaction amount is NT$45 per share. The United States held a total of more than 20,000 Jiabang shares, holding a ratio of 19.63%.
Among the top ten shareholders of Jiabang last year's annual report, chairman Zheng Dunren and the investment company under the name held 9.85%, connector factory Xinbang held 4.25%, director Jialin ventured 3.8%, and the company sent shares to be estimated at about two. To Sancheng. With the support of Xinbang, Kaimei’s holdings have approached the company of Jiabang, and the forces of the two sides are among Bozhong.
SINBON invested more than 10 years in a private equity investment in Jiabang through private equity in 2007. At that time, the stock price was NT$42 per share. This time, it was sold for NT$45 per share to Kemei and made a profit.
5.VLSI: This year's semiconductor packaging equipment market may have the worst performance since 2015;
Gathering micro-network news, according to semiconductor semiconductor equipment supplier BE Semiconductor Industries NV (abbreviation: Besi) mentioned in the financial report, VLSI Research announced in early April based on a number of semiconductor manufacturers to predict the market growth rate of semiconductor packaging equipment in 2018 The estimate is revised down from the 18.1% estimated in January to 12.5%; if it is met, it will be the worst performance since 2015 (declined by 17.5%), worse than the 13.5% in 2016 and 21.4% growth in 2017.
According to VLSI statistics, in 2017, the semiconductor packaging equipment market sales reached US$4.4 billion, a record high.
Besi Chief Executive Richard W. Blickman announced on April 26th through a financial press release that the amount of orders in the first quarter of 2018 increased by 37.8% quarterly to 205.8 million euros, mainly due to the benefits of IDM and Asia. The contractor moves in response to the increase in production of smartphones.
Besi's first quarter of 2018 (as of March 31, 2018): Revenue increased 40.5% year-on-year (1.1% quarterly) to 154.9 million euros, gross margin rose 0.8 percentage points year-on-year (0.2% quarterly increase) to 56.5%, net profit increased by 52.7% to 37.1 million euros, diluted earnings per share increased 51.7% (quarterly decrease of 16.5%) to 0.91 euros.
Besi estimates that the second quarter revenue will increase by 10-15% in the quarter and the gross profit margin is estimated to be between 55-57%. Using the median estimate, the revenue estimate in the first half of 2018 will be the same as in the same period in 2017. Growth of 17%.
ASM International NV, a supplier of wafer manufacturing equipment, declined due to the drop in gross margin in the first quarter of 2018. ASM International fell 0.12% to close at 50.64 on April 26, the lowest since September 8, 2017 (Thomson Reuters).
6. Intel digs away Tesla chip design general Jim Keller;
Intel Microsystems, Inc. announced on the 26th that Jim Keller, who is well-qualified in chip development, has served as senior vice president of the company, leading Intel’s silicon project, including the development and integration of SoC. Keller has worked at AMD, Apple With Tesla, before being scolded by Intel, he was the vice president of Tesla, responsible for Autopilot's autopilot and low-voltage hardware, and will be ready for work at the new club on Monday (4/30).
Keller, 59, entered AMD in 1998 and led the development of the AMD K8 microarchitecture. In 2004, he was the vice president of engineering at PA Semi, a chip design company. After Apple's acquisition of PA Semi in 2008, Keller entered the Apple market. , Responsible for Apple's low-power mobile chip, to create the A4 and A5 processors used by the iPhone and iPad, Keller returned to AMD in 2012, and joined Tesla in January 2016 as Vice President of Hardware Engineering at Autopilot.
For Intel, Keller's micro-architectural design experience from PCs, servers, mobile devices, and automobiles can just help Intel move from traditional computing to new computing. Intel Chief Engineer Murthy Renduchintala said that Keller is a respected microarchitect in the industry. One of them, as Intel enters the world of heterogeneous processing and architecture, it is fundamentally changing the way it builds chips, and is expected to accelerate this transition with Keller's capabilities.
Keller said that his passion for life is to develop the best silicon products in the world. The evolution of computing in the next 10 years will make the world very different. He is very happy to join the Intel team to build data-centric computing together. Times CPU, GPU and accelerator products.
Tesla has also confirmed that Keller is on the last day of the company on Tuesday.
7.Samsung Electronics: Weak demand for high-end smart components, mining chips
Samsung Electronics Co. pointed out on April 26 that the memory business is expected to maintain its strong performance in the second quarter of 2018. However, it is very difficult for the company's overall surplus to show growth. The main reason is that the display panel (DP) sector fears The fear of further fatigue and high-end mobile phone competition will lead to a decline in the mobile communications sector.
Samsung pointed out that NAND quotes will be weak in the second quarter, but server, mobile DRAM demand is expected to continue to increase and high-density memory chip orders will also rise. For system LSI, foundry business, 10 nanometer applications Both processor and cryptocurrency mining chip shipments are expected to rise, but profitability will be depressed due to weak demand for high-end smart phone components.
Samsung holds a positive view on the outlook of the component business in the second half of the year. It is expected that DRAM demand will continue to grow and demand for smart phone OLED panels will rebound.
Samsung expects overall NAND demand to increase in the second quarter, and data center projections will remain the main source of SSD demand. In the United States, driven by China’s expansion of its data center, strong server demand will drive related DRAM sales to climb. .
Thanks to the rising demand for high-performance computing (HPC) chipsets, Samsung's first-quarter foundry surplus showed a quarterly increase. Samsung Electronics expects that foundry revenue in 2018 will exceed US$10 billion, securing the world’s No. 1 position. The location of two.
Affected by slow sales of flagship models and high marketing costs, Samsung expects the second quarter of information technology (IT), mobile communications sector profit will show a quarterly decline. Samsung will launch new flagship models in the second half and continue to invest To expand the size of Bixby 2.0 open ecosystem.
Driven by the growth of major football events and emerging markets in the world, Samsung expects demand in the TV market to increase annually. Samsung expects to launch 8K and Micro LED TVs in the second half of the year.
Samsung Electronics' revenue in the first quarter of 2018 increased by 20% (quarter-reduction of 8%) to 60.56 trillion won, and its operating profit increased by 58% (quarterly increase of 3.2%) to a record high of 15.64 trillion won.