If the technology war between the United States and China spills over to the display sector, the U.S. government may take regulatory measures to curb the sale of display materials and production equipment to Chinese companies, as in the semiconductor sector, Taiwan’s DigiTimes reported on Nov. 4.In
The Federation of Korean Industries said at a recent seminar that every main industry of South Korea will have to struggle next year, with the only exception of shipbuilding.According to the federation, South Korean shipbuilders’ order backlogs are already large, with the global LNG carrier demand c
Samsung Electronics has begun mass-producing a 1-terabit (Tb) triple-level cell (TLC) eighth-generation vertical NAND (V-NAND) with the industry’s highest bit density, the company announced on Nov. 7.At 1Tb, the new V-NAND also features the highest storage capacity to date, enabling larger storage s
Micron Technology has recently sent samples of a low-power dual data rate 5X (LPDDR5X) prototype based on a 5th-generation 10-nm (1b or 12-nm to 13-nm) process to major smartphone manufacturers.Micron did not disclose the specifications of the new product, but said that it has improved power efficie
Server DRAMS are emerging as a new cash cow for Samsung Electronics and SK Hynix, which are hit hard by a slowdown in the global semiconductor market.According to market research firm Omdia, annual server DRAM demand is expected to reach 68.486 billion gigabits (Gb) this year. Experts estimate annua
Samsung Electronics announced on Oct. 27 that it will work with POSCO to localize xenon (Xe) gas, a core material for semiconductor production.Xenon gas is one of the rare gases essential to production of high-tech semiconductors such as 3D V-NAND flashes. Since it exists in a tiny amount in the air
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. We expect Hynix’s earnings to remain sluggish until 1Q23 due to reduced demand. Supply-demand conditions are predicted to improve in 2H23 thanks to active supply control efforts across the industry, i
Taiwan’s TSMC, the world’s No. 1 foundry player, has halted contract production of high-tech semiconductors for some Chinese customers. The decision followed the U.S. government’s recent move to strengthen control of U.S. chip production equipment exports to China. External pressure is also expected
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY, target price of KRW75,000 We maintain BUY and 12m TP of KRW75,000 on SEC. Despite downward revisions to our earnings forecast, we maintain BUY given the following:(1) SEC is expected to demonstrat
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Gap between stock price and earnings given semiconductor stocks typically lead earnings We maintain BUY and 12m TP of KRW120,000 on SK hynix. Despite downward earnings revisions, we remain bullish given that se
The U.S. government put the brakes on Apple’s plan to use YMTC NAND flash chips in the iPhone. The Nikkei recently reported that Apple considered procuring 40 percent of the chips for use in the phone from the Chinese company for cost reduction and supply source diversification.The U.S. Department o
The US government has allowed Samsung Electronics and SK Hynix to send semiconductor production equipment to their plants in China for one year without applying for a separate permit.The US Department of Commerce recently gave an official notification of this policy to Samsung Electronics and SK Hyn
Bloomberg reported on Oct. 11 that the market cap of global semiconductor stocks dropped by US$240 billion from Oct. 7 to 11 after the announcement of U.S. restrictions against China. “The Philadelphia semiconductor index fell 3.5 percent on Oct. 10 and close to 10 percent for three days to reach th
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. Affected by reduced data center investment and lackluster demand for IT sets, SEC logged preliminary 3Q22 OP of W10.8tn (-23% q-q). The firm’s 4Q22 OP is projected at W9.5tn (-12% q-q). We expect the
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. The US government has announced additional restrictions on the Chinese semicon industry, prohibiting the export of production equipment related to 18nm DRAM and 128-layer or higher 3D NAND. As their f
Global memory semiconductor companies are cutting production and investment one after another as demand is sluggish amid an economic downturn and high inflation.Micron Technology of the United States, which ranks third in the global DRAM market, has decided to reduce capital expenditure by 30 percen
Taiwan’s TSMC, the No. 1 player in the foundry sector, ranked first among semiconductor companies in terms of sales in the third quarter of the year. Samsung Electronics and Intel, which previously competed for the top spot in the semiconductor sales rankings, both suffered earning shocks.TSMC racke
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY, target price of KRW75,000 Despite SEC’s 3Q22P earnings shortcomings, we maintain BUY and 12m TP of KRW75,000. We expect standout profit margins on business diversification (i.e., DP, foundry) and
Samsung Electronics showcased a series of cutting-edge semiconductor solutions at Samsung Tech Day 2022 held at Silicon Valley on Oct. 5 (local time).The company announced plans to start mass production of 5th-generation 10nm-class (1b) DRAM from next year and 9th-generation NAND flash from 2024, re
The United States is increasingly curbing the growth of the Chinese semiconductor sector and this is posing an increasing burden on Samsung Electronics and SK Hynix, which are manufacturing products in China in close business relations with it.According to the New York Times, the U.S. Department of