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   Technology StocksSemi Equipment Analysis


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To: Elroy who wrote (88322)4/28/2022 10:44:48 AM
From: oldbeachlvr
   of 89373
 
In two to three years, when multiple new foundry fabs have been built by Intel, Samsung, TSMC and whoever (in Ohio, Texas, Arizona, Germany, Taiwan, China, Japan, etc.) the excess capacity should lower the cost of using a contract foundry substantially. Margins at the fabless semi companies should increase. Until then price increases will be the norm.

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To: Return to Sender who wrote (88317)4/28/2022 4:07:52 PM
From: Return to Sender
1 Recommendation   of 89373
 
BPNDX Rose 4 to 31 - [BKNG CDNS ODFL QCOM added]

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To: Return to Sender who wrote (88318)4/28/2022 4:10:35 PM
From: Return to Sender
1 Recommendation   of 89373
 
BPSOX Rose 1 to 4 PnF Buy Signals - [QCOM added]

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To: Return to Sender who wrote (88319)4/28/2022 4:13:52 PM
From: Return to Sender
1 Recommendation   of 89373
 
7 New 52 Week Lows Today on the NDX and 1 New 52 Week High - [PEP]

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To: Return to Sender who wrote (88274)4/28/2022 4:18:50 PM
From: Return to Sender
   of 89373
 
UPDATE 1-Intel's current-quarter sales outlook misses estimate

finance.yahoo.com

April 28 (Reuters) - Chipmaker Intel Corp forecast second-quarter revenue below Wall Street expectations on Thursday on worries of demand weakness from its largest end market, PCs, and increased supply-chain uncertainty due to COVID-19 lockdowns in China.

Shares of the company fell 5% in after-market trading.

The company expects current-quarter revenue of about $18 billion compared with analysts' average estimate of $18.38 billion, according to IBES data from Refinitiv.

Rising inflation, resurgence of COVID-19 in China and uncertainties around the war in Ukraine have shifted consumer spending away from gadgets, hurting Intel, which saw more than half of its revenue last year coming from the segment selling processors for PCs.

Analysts say the PC market is coming off from searing rates of growth over the last two years as remote working and learning triggered high demand during the pandemic.

As lockdowns in China continue, supply-chain bottlenecks are likely to hurt Intel's customers, in turn affecting the chipmaker's business.

Adjusted revenue for the first quarter was $18.4 billion, compared with analysts' average estimate of $18.31 billion. (Reporting by Chavi Mehta and Eva Mathews in Bengaluru and Jane Lanhee Lee in Oakland, Calif.; Editing by Krishna Chandra Eluri)

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To: Return to Sender who wrote (88327)4/28/2022 4:20:28 PM
From: Return to Sender
2 Recommendations   of 89373
 


Market Snapshot

briefing.com

Dow 33916.59 +614.66 (1.85%)
Nasdaq 12871.52 +382.59 (3.06%)
SP 500 4287.62 +103.67 (2.48%)
10-yr Note -2/32 2.853

NYSE Adv 2429 Dec 733 Vol 1.0 bln
Nasdaq Adv 2788 Dec 1769 Vol 5.0 bln


Industry Watch
Strong: Information Technology, Communication Services, Consumer Discretionary, Energy

Weak: None


Moving the Market
-- Earnings provide fuel for dip-buying efforts

-- Meta Platforms (FB) jumps over 17.0% following better-than-feared earnings report

-- Advance Q1 GDP decreased at 1.4% annualized rate (Briefing.com consensus +1.1%); GDP Chain Deflator rose 8.0% (Briefing.com consensus +7.3%).





Earnings fuel dip-buying efforts
28-Apr-22 16:15 ET

Dow +614.66 at 33916.59, Nasdaq +382.59 at 12871.52, S&P +103.67 at 4287.62
[BRIEFING.COM] The S&P 500 rallied 2.5% on Thursday, as earnings reactions helped instill confidence in dip-buying efforts. The Nasdaq Composite rose 3.1%, the Dow Jones Industrial Average rose 1.9%, and the Russell 2000 rose 1.8%.

After a shaky start in which the major indices, except the S&P 500, turned negative, the market kicked into higher gear in the afternoon. All 11 sectors in the S&P 500 closed higher with gains ranging from 1.1% (utilities) to 4.0% (information technology).

Meta Platforms (FB 205.73, +30.78, +17.6%) had sort of a halo effect on the mega-caps, as shares surged 17.6% following its better-than-feared earnings report. Apple (AAPL 163.64, +7.07, +4.5%) and Amazon.com (AMZN 2891.93, +128.59, +4.7%) posted strong gains in front of their earnings reports after the close.

Qualcomm's (QCOM 148.19, +13.09, +9.7%) results and guidance had a similar effect on the Philadelphia Semiconductor Index (+5.6%), while the 11% gain in PayPal (PYPL 92.09, +9.48, +11.5%) despite its downside guidance was viewed as a justification to buy other beaten-down growth stocks -- but not Teladoc (TDOC 33.51, -22.48, -40.2%), which cratered 40% on disappointing guidance.

McDonald's (MCD 254.19, +7.05, +2.9%) and Merck (MRK 88.58, +4.17, +4.9%) also pleased investors with their earnings reports. Fellow Dow components Caterpillar (CAT 212.44, -1.52, -0.7%) and Amgen (AMGN 238.13, -10.66, -4.3%), however, closed lower despite beating EPS estimates.

Of course, the notion that the market was simply due for a bounce from an oversold condition can't be understated. Encouragingly, too, the stock market did not appear fazed by the disappointing Advance Q1 GDP report that had marks of stagflation.

Briefly, real GDP decreased at an annual rate of 1.4% in the first quarter (Briefing.com consensus +1.1%) while the GDP Chain Deflator increased by a larger-than-expected 8.0% (Briefing.com consensus +7.3%).

The Treasury market, however, did react in such a way that maintained expectations for the Fed to prioritize tighter policy to keep inflation pressures in check. The 2-yr yield rose seven basis points to 2.64%, and the 10-yr yield rose five basis points to 2.86%. The U.S. Dollar Index (103.59, +0.64, +0.6%) hit a 20-year high. WTI crude settled above $105 per barrel ($105.31, +3.56, +3.5%).

Reviewing Thursday's economic data:

  • Real GDP decreased at an annual rate of 1.4% in the first quarter (Briefing.com consensus +1.1%) while the GDP Chain Deflator shot up 8.0% (Briefing.com consensus +7.3%). Real final sales of domestic product, which exclude the change in private inventories, were down 0.6%.
    • The key takeaway from the report is that it will exacerbate concerns about the U.S. economy being at risk of slipping into an eventual recession at worst or at least entering a stagflation period that will necessitate tighter monetary policy to get inflation under control.
  • Initial jobless claims for the week ending April 23 decreased by 5,000 to 180,000 (Briefing.com consensus 182,000). Continuing claims for the week ending April 16 decreased by 1,000 to 1.408 million, which is the lowest level since February 7, 1970.
    • The key takeaway from this report remains the same: jobless claims are near historically low levels, which is indicative of a tight labor market. The tightness in the labor market, though, will continue to fuel concerns about wage-based inflation pressures that can feed into more persistent, and broader, price inflation.
Looking ahead, investors will receive Personal Income and Spending for March, PCE Prices for March, the Q1 Employment Cost Index, the Chicago PMI for April, and the final University of Michigan Index of Consumer Sentiment for April on Friday.

  • Dow Jones Industrial Average -6.7% YTD
  • S&P 500 -10.0% YTD
  • Russell 2000 -14.6% YTD
  • Nasdaq Composite -17.7% YTD



Crude futures settle above $105 per barrel
28-Apr-22 15:30 ET

Dow +728.84 at 34030.77, Nasdaq +445.53 at 12934.46, S&P +120.90 at 4304.85
[BRIEFING.COM] The S&P 500 is up 2.9% to trade at fresh session highs as investors continue to follow through on dip-buying efforts.

One last look at the sectors shows gains across the board. The information technology sector sits atop with a 4.5% gain while the utilities sector underperforms with a 1.0% gain.

WTI crude futures settled higher by $3.56 (+3.5%) to $105.31/barrel. The higher oil prices has provided an additional boost for the energy sector (+3.9%).

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To: Return to Sender who wrote (88328)4/29/2022 3:49:27 PM
From: FJB
1 Recommendation   of 89373
 
I DON'T THINK YOUR REVENUES ARE SUPPOSED TO GO DOWN IF YOU ARE A SUPPLIER IN A MARKET WITH SHORTAGES.

www.lightreading.com /semiconductorsnetwork-platforms/intel-says-chip-shortage-to-last-to-2024/d/d-id/777156


Intel says chip shortage to last to 2024

News Analysis Pádraig Belton, Contributor, Light Reading 4/29/20225-6 minutes
A year ago, Intel's CEO Pat Gelsinger said the chip shortage wouldn't be over until 2023.

Now make that 2024.

"We expect the industry will continue to see challenges until at least 2024 in areas like foundry capacity and tool availability," he told a conference call yesterday.

Adding to the supply crunch is the fact that TSMC is gobbling up chipmaking equipment, making tools hard to come by, Gelsinger said.

The forecast about 2024 came amid the gloomiest earnings beat you'd ever seen.

Yes, the Santa Clara chip giant brought in $18.35 billion in revenue in the first quarter, a nose ahead of analysts' predicted $18.31 billion.



Intel's PC chip sales declined as consumers and students bought fewer computers, and with Apple shifting to making its own M1 Pro chips.
(Source: Ruslan Lytvyn/Alamy Stock Photo)

But the champagne wasn't quite out exactly, since this was down 7% on a year before. The company's gross margins shrank meanwhile to 50.4% from 55.2%.

Analysts "have been crabby for ages" about Intel's declining margins, tweeted reporter Stephen Shankland.

But the company's new finance chief, David Zinsner, predicted these will start growing later in 2022 after PC makers burn through inventory they piled up during the pandemic.

When the chips are down

All this comes after a busy quarter when Intel announced it's buying Tower Semiconductor and building new chip factories in Germany and Ohio.

Gelsinger, who has been in his post for a year now, calls Intel on his watch "the greatest turnaround story in history." But it's a turnabout from the disastrous summer of 2020 which saw nearly everything go wrong.

Within a mere few weeks the company was pushing back its 7nm node from 2021 to 2023, losing a world-class chip designer and head of its 10,000-person semiconductor engineering team in Jim Keller, and then getting dumped by one of its key customers, Apple.

Cupertino's CEO Tim Cook heaped a bitter break-up note on the fire, publicly blaming a dip in Mac sales on supply issues with processors on Apple's side.

By contrast, this now looks like an Intel which has reclaimed a sense of strategy and purpose.

Gelsinger's "IDM 2.0" strategy involves outsourcing chips to more external foundries like TSMC and GlobalFoundries, and also making more chips for other companies via its new Intel Foundry Services. A $20 billion investment into two new fabs in Arizona is meant to bolster its wares on the second front.

It's a strategy that's meant to fix two problems: Intel's production techniques have lagged behind sector leaders like TSMC, while it also must try and keep pace with a demand for chips that's running at an all-time high.

So with Intel investing in its European chipmaking network and developing what could be the world's largest semiconductor manufacturing site in Ohio, Gelsinger is willing to spend big now to have a crack at what he called a "$1 trillion market opportunity" in a few years' time.

There's just the question of paying for it. These creaky silicon supply chains mean "the world needs more resilient and geographically balanced semiconductor manufacturing," said Gelsinger.

It's all pretty transparently cocking aim at more US government funding, as the US CHIPS Act rumbles through Capitol Hill.

Intel inside a bit lessGlobal PC sales were down by 6.8% in the first quarter, after two years of searing growth, according to research firm Gartner. Leading this drop was a collapse in demand for budget Chromebooks, which flew off the shelves during lockdown.

On Intel's side, PC chip sales declined, as consumers and students bought fewer computers, and with Apple shifting to making its own M1 Pro chips instead.

The Client Computing Group, which includes Intel's PC chipmaking, saw its revenues drop 13% to $9.29 billion, lower than analysts' predicted $9.42 billion. This segment is an important one, responsible for more than half of Intel's revenue.

Want to know more? Sign up to get our dedicated newsletters direct to
your inboxBut on the other side, data centers and enterprise customers picked up, with revenue from Intel's Datacenter and AI segment jumping 22% to $6 billion. This is a smaller business than PC chipmaking, but a higher-margin one.

The return of COVID-19 lockdowns in Shanghai "does moderate our outlook a little bit on Q2," says Gelsinger, down to $18 billion in revenue for the quarter versus analysts' prediction of $18.4 billion.

But it should all come out in the wash by the end of the year with growth rebounding in later quarters, says Intel's upbeat chipmaker-in-chief.

Related posts:


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To: FJB who wrote (88329)4/29/2022 4:50:53 PM
From: Elroy
   of 89373
 
Adding to the supply crunch is the fact that TSMC is gobbling up chipmaking equipment, making tools hard to come by, Gelsinger said.

This explanation is nonsense. Intel can just pay more than TSMC for the same tool, and tools will be easy to come by, and TSMC will have a shortage of tools problem.

Intel should buy SIMO using Intel stock. SIMO is a cash generating machine, and Intel is going to need cash to pay the R&D necessary to "catch up" to TSMC.

These days almost every PC needs a NAND flash controller chip to make it work, why no one wants to buy SIMO is beyond me. SIMO's forward PE off of 2022 EPS is about 9x......maybe less.

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To: Return to Sender who wrote (88324)4/30/2022 1:46:54 PM
From: Return to Sender
1 Recommendation   of 89373
 
BPNDX Fell 2 to 29 PnF Buy Signals - [CDNS INTC MELI TMUS VRSN removed MTCH TSLA ZM added]

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To: Return to Sender who wrote (88325)4/30/2022 1:51:26 PM
From: Return to Sender
1 Recommendation   of 89373
 
BPSOX Fell 1 to 3 PnF Buy Signals - [INTC removed]

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