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From: Sam6/13/2019 10:50:14 PM
2 Recommendations   of 85831
 
Really interesting article on the different types of memory chips.

HBM2 Vs. GDDR6: Tradeoffs In DRAM
Experts at the Table, part 1: Choices vary depending upon application, cost and the need for capacity and bandwidth, but the number of options is confusing.
June 13th, 2019 - By: Ed Sperling

Semiconductor Engineering sat down to talk about new DRAM options and considerations with Frank Ferro, senior director of product management at Rambus; Marc Greenberg, group director for product marketing at Cadence; Graham Allen, senior product marketing manager for DDR PHYs at Synopsys; and Tien Shiah, senior manager for memory marketing at Samsung Electronics. What follows are excerpts of that conversation.

SE: What are the big challenges in memory today?


L-R: Frank Ferro, Graham Allan, Tien Shiah, Marc Greenberg. Photo credit: Semiconductor Engineering/Susan Rambo

Ferro: The main ones are latency and bandwidth, and those haven’t changed very much. But the key difference now is that we’re seeing a swing back from where we had plenty of bandwidth and the compute was the bottleneck to where memory is the bottleneck again. That has given rise to a number of different technologies. HBM basically came out of nowhere a couple years ago, and now GDDR is showing up on everyone’s radar. To some extent we’re still at the mercy of the memory vendors because we’re building physical layers based on their specs and the JEDEC specs. But architecturally, we are looking at ways to innovate. That’s the next step.

Allan: Our customers are faced with a large array of choices, and if you fit into the category of someone who doesn’t need a vanilla interface and you have something that can be challenging or a relatively high-bandwidth requirement, you’re left with all these choices and you don’t know which one to go for. It’s a very difficult market to navigate when you’re not one of the major CPU vendors because you don’t get a lot of insight from the DRAM vendors. There are a lot of secrets in the memory market, such as how much does a DRAM cost. You can find out what DDR4 costs in very large volumes, but if you want to know what HBM or GDDR6 sell for, you can’t get that answer. And it changes every month, because DRAM prices fluctuate quite a bit. One of our main activities is walking customers through all of these different choices and what the tradeoffs are.

continues at semiengineering.com

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From: Sam6/14/2019 6:23:41 AM
1 Recommendation   of 85831
 
European chipmakers tumble after Broadcom dashes hopes of rebound in demand

June 14, 2019 / 3:15 AM / Updated an hour ago

LONDON (Reuters) - European semiconductor stocks fell on Friday after U.S. chipmaker Broadcom warned a U.S.-China trade conflict and export restrictions on Huawei were causing a broad slowdown in demand for chips.

Shares in ASML, STMicroelectronics, Siltronic, ASM International, Infineon, and AMS tumbled by 2.7% to 6.6% as the warning reignited fears chipmakers would not keep to their promises of a second-half recovery.

continues at reuters.com

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From: Sam6/14/2019 7:47:57 AM
1 Recommendation   of 85831
 
Broadcom stock plunge triggers broad selloff in chips
By Tomi Kilgore
Published: June 14, 2019 7:37 a.m. ET

Shares of semiconductor makers suffered in broad selloff in premarket trade Friday, after Broadcom Inc.'s AVGO, -9.80% mixed fiscal second-quarter results and lowered full-year outlook raised concerns that a second-half rebound in demand would not occur as expected. Broadcom's stock tumbled 10.2% ahead of the open, after the company reported results late Thursday. That put the stock on track to suffer its biggest one-day drop since it plummeted 13.7% on July 12, 2018. All 22 of the PHLX Semiconductor Index's SOX, +0.58% components that have traded in the premarket are losing ground, with 18 of those trading shedding more than 2%. Among the more active shares in the early going, Advanced Micro Devices Inc. AMD, -2.87% dropped 3.3%, Intel Corp. INTC, -1.93% shed 1.8%, Micron Technology Inc. MU, -3.36% fell 3.5%, Nvidia Corp. NVDA, -2.80% lost 2.8% and Qualcomm Inc. QCOM, -2.49% gave up 2.5%. The chip-sector selloff comes as futures ESM19, -0.27% the S&P 500 SPX, +0.41% shed 0.3%.

marketwatch.com

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From: Sam6/14/2019 9:47:56 AM
1 Recommendation   of 85831
 
Broadcom's $2 billion warning shocks global chip sector

Reuters | June 14, 2019 08:52:00 AM ET

By Helen Reid and Arjun Panchadar

LONDON/BENGALURU - Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company's sales this year.

The forecast, included in the company's second quarter results late on Thursday, was the hardest evidence yet of the damage President Donald Trump's trade war with Beijing may do to the global industry.

Shares in Broadcom fell 10% in early trading in New York, wiping more than $11 billion off the market value of the company, previously based in Asia but now with its headquarters and main listing in the United States.

U.S. chipmakers Qualcomm , Applied Materials Inc , Intel Corp , Advanced Micro Devices Inc and Xilinx Inc were all down between 2.5% and 4%.

That followed similar falls for European peers including ASML , STMicroelectronics , Infineon , and AMS .

"We'll see a very sharp impact simply because (there are) no purchases allowed and there's no obvious substitution in place," Chief Executive Officer Hock Tan told a conference call with analysts in relation to the Huawei ban.

Broadcom, which got $900 million in revenue from Huawei [HWT.UL] last year, also said, however, that the forecast cut "extends beyond one particular customer."

"We're talking about uncertainty in our marketplace, uncertainty because of the - of demand in the form of order reduction as the supply chain out there constricts - compress, so to speak," Tan added.

The semiconductor industry has been grappling with slowing demand since the second half of 2018 with bellwether Texas Instruments warning in April that a cyclical downturn could last for another two years.

That has related chiefly to signs that mobile phone markets in some major economies are increasingly saturated while mass demand in new areas like self-driving cars and internet of things devices for homes and offices is still developing.

The geopolitical risks from the trade conflict and Huawei ban are an additional shock.

"It's not just Huawei, it's deeper than that. Visibility is shot. OEMs [carmakers] aren't ordering. Inventory concerns, which were supposed to ease, have not gone away," said one European trader. "Goodbye H2 recovery hopes!"

Broadcom, known for communications chips that power Wi-Fi, Bluetooth and GPS connectivity in smartphones, is also a major supplier to Apple Inc and shares of the iPhone maker were down nearly 1% premarket.

The CEO of chipmaker Micron Technology also said the ban on Huawei brings uncertainty and disturbance to the semiconductor industry.

"It's a broad-based decline they are now predicting," said Neil Campling, tech analyst at London-based asset manager Mirabaud.

"This is unlikely to be Broadcom specific but a trend to expect in H2 this year. A rebound for the chip sector, which many hope for, is highly unlikely."

(Reporting by Helen Reid in London, Vibhuti Sharma and Arjun Panchadar in Bengaluru; Editing by Josephine Mason, Susan Fenton and Patrick Graham)

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From: Sam6/14/2019 3:18:27 PM
2 Recommendations   of 85831
 
Buy Micron Stock Because Everyone Already Knows Chip Prices Are Falling, Analyst Says -- Barrons.com

Dow Jones Newswires | June 14, 2019 03:11:00 PM ET


Micron Technology stock will rally because the difficult chip environment is priced into its current valuation, according to Bank of America Merrill Lynch.

The back story. Micron stock (ticker: MU) has been sliding for the past month as hope for a recovery in chip prices has faltered. A few months ago, the stock was up more than 30% for the year.

The chip maker is a leader in the DRAM and NAND memory-semiconductor markets. DRAM stands for dynamic random-access memory, which is used in desktop computers and servers, while NAND is flash memory, found in smartphones and solid-state hard drives.

What's new. Bank of America Merrill Lynch analyst Simon Woo on Friday lowered his earnings estimates for Micron due to deteriorating memory prices. He reaffirmed his Buy rating for the stock.

The "DRAM spot market price has already been weaker than expected," he wrote. "A bearish guidance at the 3Q FY19 results call and consequent consensus estimate cuts should not be a surprise for investors."

The analyst lowered his Micron earnings per share estimates to $5.01 from $5.93 for fiscal 2019 and to $2.68 from $ 5.51 for fiscal 2020.

Despite the weak near-term industry conditions, the analyst is optimistic over the long term due to the company's low valuation.

Micron stock was down 2.1% to $32.67 on Friday. The company declined to comment on the report.

Broadcom's lower than expected annual guidance on Thursday also affected the general chip sector. The iShares PHLX Semiconductor ETF (SOXX), which tracks the performance of a widely followed semiconductor sector index, fell 2.8% on Friday.

Looking ahead. The analyst lowered his price target to $43 from $50 for Micron stock.

Earlier this month, Barron's suggested there may be more downside for the chip sector due to deteriorating fundamentals.

Write to Tae Kim at tae.kim@barrons.com

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To: Return to Sender who wrote (83470)6/16/2019 9:47:07 PM
From: Return to Sender
2 Recommendations   of 85831
 
BPNDX remains 61 with changes - [MCHP NXPI removed GILD REGN added]

61
Fri
Jun 14

Symbol Symbol
AAPL AAPL
ADI ADI
ADP ADP
AMAT AMAT
AMD AMD
AMZN AMZN
BKNG BKNG
BMRN BMRN
CELG CELG
CERN CERN
CHKP CHKP
CHTR CHTR
CMCSA CMCSA
COST COST
CSCO CSCO
CSX CSX
CTAS CTAS
CTSH CTSH
DLTR DLTR
EA EA
EBAY EBAY
FAST FAST
FISV FISV
HAS GILD
HSIC HAS
IDXX HSIC
ILMN IDXX
INTU ILMN
ISRG INTU
LBTYA ISRG
LRCX LBTYA
LULU LRCX
MAR LULU
MCHP MAR
MDLZ MDLZ
MELI MELI
MNST MNST
MSFT MSFT
MXIM MXIM
NFLX NFLX
NTAP NTAP
NXPI ORLY
ORLY PAYX
PAYX PCAR
PCAR PEP
PEP PYPL
PYPL REGN
ROST ROST
SBUX SBUX
SIRI SIRI
SNPS SNPS
SWKS SWKS
TMUS TMUS
TSLA TSLA
TTWO TTWO
VRSK VRSK
VRSN VRSN
VRTX VRTX
WLTW WLTW
XLNX XLNX
XRAY XRAY

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To: Return to Sender who wrote (83471)6/16/2019 9:57:45 PM
From: Return to Sender
2 Recommendations   of 85831
 
BPSOX falls 2 to 13 - [MCHP MKSI removed]

13
Fri
Jun 14

Symbol Symbol
ADI ADI
AMAT AMAT
AMD AMD
CY CY
LRCX LRCX
MCHP MLNX
MKSI MRVL
MLNX MXIM
MRVL SLAB
MXIM SWKS
SLAB TER
SWKS TSM
TER XLNX
TSM
XLNX

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To: Return to Sender who wrote (83481)6/16/2019 10:02:22 PM
From: Return to Sender
3 Recommendations   of 85831
 
6 New 52 Week Highs and No New 52 Week Lows on Friday June 14, 2019

New Highs
CELG
COST
CTAS
MDLZ
SBUX
WLTW

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To: Return to Sender who wrote (83482)6/16/2019 10:03:54 PM
From: Return to Sender
1 Recommendation   of 85831
 
Wall Street weighed down by Broadcom revenue warning
14-Jun-19 16:15 ET
Dow -17.16 at 26089.61, Nasdaq -40.47 at 7796.64, S&P -4.66 at 2886.98

briefing.com

[BRIEFING.COM] The S&P 500 declined 0.2% on Friday, pulled lower by weakness in the semiconductor space after Broadcom (AVGO 265.93, -15.68, -5.6%) warned of a slowdown in demand. For the week, the benchmark index finished higher by 0.5%.

The Dow Jones Industrial Average (-0.1%), the Nasdaq Composite (-0.5%), and the Russell 2000 (-0.9%) finished with weekly gains of 0.4%, 0.7%, and 0.5%, respectively.

Broadcom cited U.S.-China trade uncertainty and export restrictions on Huawei Technologies for the disappointing outlook. In addition, Broadcom missed revenue estimates and lowered its FY19 revenue guidance below consensus. The Philadelphia Semiconductor Index lost 2.6% and many of its components dragged on the S&P 500 information technology sector (-0.8%).

Global growth worries lingered after China reporting the slowest growth rate for industrial production in 17 years in May, which contributed to the underperformance in the S&P 500 energy (-0.7%), materials (-0.5%), and industrials (-0.4%) sectors.

Still, investors were placated with economic data that showed the U.S. economy is still in relatively decent footing. Retail sales for May increased 0.5% (Briefing.com consensus 0.7%) after increasing an upwardly revised 0.3% (from -0.2%) in April. Industrial production increased 0.4% in May (Briefing.com consensus 0.2%) after declining 0.4% in April.

Stocks also recouped a good chunk of their losses in late afternoon action as the S&P 500 briefly climbed into positive territory. The comeback effort was led by the utilities (+1.0%), communication services (+0.4%), and real estate (+0.3%) sectors. Facebook (FB 181.33, +3.86) was a notable standout, rising 2.2% after RBC Capital Markets provided some positive analysis on Facebook's cryptocurrency plans.



U.S. Treasuries finished mixed. The 2-yr yield increased two basis points to 1.84%, and the 10-yr yield finished unchanged at 2.09%. The U.S. Dollar Index rose 0.6% to 97.57 to reclaim its 50-day moving average (97.46). WTI crude increased 0.3% to $52.54/bbl.

Reviewing Friday's economic data:

  • Total retail sales increased 0.5% in May (Briefing.com consensus 0.7%) after increasing an upwardly revised 0.3% (from -0.2%) in April. Excluding autos, retail sales were also up 0.5% in May (Briefing.com consensus 0.4%) after increasing an upwardly revised 0.5% (from 0.1%) in April.
    • The key takeaway from the report is that the May reading was combined with an upward revision to figures for April, which largely made up for the May shortfall to headline expectations.
  • Industrial production increased 0.4% in May (Briefing.com consensus 0.2%) following an upwardly revised 0.4% decrease (from -0.5%) in April. Total capacity utilization increased to 78.1% (Briefing.com consensus 78.0%) from an unrevised 77.9% in April.
    • The key takeaway from the report is that industrial production continues holding up better in the United States than in other major economies.
  • The preliminary June reading for the University of Michigan Index of Consumer Sentiment decreased to 97.9 (Briefing.com consensus 98.1) from May's final reading of 100.0.
    • The key takeaway from the report is that the headline pullback was owed to concern about tariffs on imports from China, which reduced the Index of Consumer Expectations.
  • Business inventories increased 0.5% in April (Briefing.com consensus 0.4%) following an unrevised flat reading for March. Business sales decreased 0.2% after growing 1.3% in March.
    • The key takeaway from the report is that the gap between inventory growth on a yr/yr basis (+5.3%) and sales growth (+2.8%) has widened, which should keep prices in check.
Looking ahead, investors will receive the Empire State Manufacturing Survey for June, the NAHB Housing Market Index for June, and Net Long-Term TIC Flows for April on Monday.

  • Nasdaq Composite +17.5% YTD
  • S&P 500 +15.2% YTD
  • Russell 2000 +12.9% YTD
  • Dow Jones Industrial Average +11.8% YTD

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From: w0z6/17/2019 5:50:16 AM
1 Recommendation   of 85831
 
U.S. chipmakers quietly lobby to ease Huawei ban: sources

Technology10 hours ago (Jun 16, 2019 07:10PM ET)

© Reuters. FILE PHOTO: A Huawei company logo is seen at a shopping mall in Shanghai
By Stephen Nellis and Alexandra Alper

SAN FRANCISCO/WASHINGTON (Reuters) - Huawei's American chip suppliers, including Qualcomm (NASDAQ: QCOM) and Intel (NASDAQ: INTC), are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said.

Executives from top U.S. chipmakers Intel and Xilinx Inc (NASDAQ: XLNX) attended a meeting in late May with the Commerce Department to discuss a response to Huawei's placement on the black list, one person said.

The ban bars U.S. suppliers from selling to Huawei, the world's largest telecommunications equipment company, without special approval, because of what the government said were national security issues.

Qualcomm has also pressed the Commerce Department over the issue, four people said.

Chip makers argue that Huawei units selling products such as smartphones and computer servers use commonly available parts and are unlikely to present the same security concerns as the Chinese technology firm's 5G networking gear, according to three people.

"This isn't about helping Huawei. It's about preventing harm to American companies," one of the people said.

Out of $70 billion that Huawei spent buying components in 2018, some $11 billion went to U.S. firms including Qualcomm, Intel and Micron Technology Inc (NASDAQ: MU).

Qualcomm, for example, wants to be able to continue shipping chips to Huawei for common devices like phones and smart watches, a person familiar with the company's situation said.

The Semiconductor Industry Association (SIA), a trade group, acknowledged it arranged consultations with the U.S. government on behalf of the companies to help them comply and brief officials on the impact of the ban on the companies.

"For technologies that do not relate to national security, it seems they shouldn't fall within the scope of the order. And we have conveyed this perspective to government," said Jimmy Goodrich, vice president of global policy at SIA.

The ban came soon after the breakdown of talks to end the months-long trade spat between China and the United States, spurred by U.S. allegations of Chinese corporate espionage, intellectual property theft and forced technology transfer.

Google, which sells hardware, software and technical services to Huawei, has also advocated so it can keep selling to the company, Huawei Chairman Liang Hua told reporters in China earlier this month.

The online search company, a unit of Alphabet (NASDAQ: GOOGL) Inc, said in a statement that it works with Commerce to ensure it is in compliance with the new rules.

A Commerce Department representative said the agency "routinely responds to inquiries from companies regarding the scope of regulatory requirements," adding that the conversations do not "influence law enforcement actions."

Intel, Xilinx and Qualcomm declined to comment. Huawei did not respond to a request for comment.

In an interview in Mexico, Andrew Williamson, vice president of Huawei's public affairs, said the company had not asked anyone specifically to lobby on its behalf.

"They're doing it by their own desire because, for many of them, Huawei is one of their major customers," he said, adding that chipmakers knew that cutting Huawei off could have "catastrophic" consequences for them.

China watchers say U.S. suppliers are essentially trying to thread the needle - not wanting to be seen as aiding an alleged spy, thief and sanctions violator, but fearful of losing a good client and encouraging it to develop supplies elsewhere.

NO ONE LISTENING

Huawei itself, which is also a top smartphone maker, has done very little traditional lobbying in Washington on the matter, but has considered sending a letter to the Commerce Department, two people familiar with Huawei's thinking said.

"We simply have no channel of communication," Liang told reporters earlier this month.

A month after being blacklisted, Huawei has not spoken to the United States government about the matter, two people said.

Huawei had been cutting back its lobbying efforts even before the ban. Last year, it laid off five employees at its Washington office, including its vice president of external affairs, and slashed lobbying expenditures, Reuters reported.

Still, Huawei has put up a vigorous legal fight and unleashed a public relations campaign to defend itself against the U.S. government's allegations. It ran a full-page ad in major U.S. newspapers in February following a string of interviews with Huawei Chief Executive Ren Zhengfei aimed at softening its dark image in the West.

Huawei's response underscores its recognition of its waning influence with the Trump administration, which has launched a global campaign against the company, analysts said.

"Huawei is at a loss over what they should do next," said Jim Lewis, a cyber expert with Washington's Center for Strategic and International Studies. "It is in a really bad position in the U.S. Nobody is looking out to do Huawei a favor."

Even so, the ban has had real repercussions.

Broadcom (NASDAQ: AVGO), which has not been lobbying the Commerce Department, sent a shockwave through the global chipmaking industry when it forecast that the U.S.-China trade tensions and the Huawei ban would knock $2 billion off its sales this year.

The Commerce Department did make a concession just days after the ban was put in place, announcing on May 20 that it would offer a temporary general license allowing Huawei to purchase U.S. goods so it can help existing customers maintain the reliability of networks and equipment.

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