reports
- Pierre FerraguÊ
- Pierre FerraguÊ
Bible 2Q25 – Semicap: Cautious view justified; expectations at risk fo...
Today, we are publishing the Semicap section of our 28th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Hyperscale & Cloud, PCs, Enterprise IT and Foundry. 2Q25 semicap revenues up 2% QoQ, 2% above consensus. China up 19% after a 17% decline in 1Q, with manufac...
- Pierre FerraguÊ
Bible 2Q25 – Memory: margins of conventional DRAM to expand as HBM gro...
Today, we are publishing the Memory section of our 28th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Hyperscale & Cloud, Telecom Equipment, PCs, Enterprise IT, Foundry and Semicap Equipment. DRAM COGS up 25% YoY and 21% QoQ, driven by seasonality,...
Applied Materials to Participate in Upcoming Investor Conferences
Applied Materials to Participate in Upcoming Investor Conferences SANTA CLARA, Calif., Aug. 21, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that members of management will participate in fireside chats at upcoming investor conferences. Brice Hill, Senior Vice President and CFO, will participate at the Deutsche Bank 2025 Technology Conference on Thursday, Aug. 28 beginning at 11:00 a.m. PT / 2:00 p.m. ET. Gary Dickerson, President and CEO, will participate at the Goldman Sachs Communacopia + Technology Conference on Tuesday, Sept. 9 beginning at 10:50 a.m. PT / 1:50 ...
- Pierre FerraguÊ
TSLA TESLA INC
NVDA NVIDIA CORPORATION
COHR COHERENT INC.
AMAT APPLIED MATERIALS INC.
2330 TSMC
00992 LENOVO GROUP LIMITED
3661 ALCHIP TECHNOLOGIES INC.
00700 TENCENT HOLDINGS LTD.
CSCO ASML HOLDING N.V.
ASML CISCO SYSTEMS INC.
40978Z ASML HOLDING NV
2357 TT HUAWEI TECHNOLOGIES CO
ASUSTEK COMPUTER
- Pierre FerraguÊ
Applied Materials Announces Third Quarter 2025 Results
Applied Materials Announces Third Quarter 2025 Results Record revenue $7.30 billion, up 8 percent year over yearGAAP gross margin 48.8 percent and non-GAAP gross margin 48.9 percentGAAP operating margin 30.6 percent and non-GAAP operating margin 30.7 percentGAAP EPS $2.22 and record non-GAAP EPS $2.48, up 8 percent and 17 percent year over year, respectively SANTA CLARA, Calif., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its third quarter ended Jul. 27, 2025. “Applied Materials delivered record performance in our third fiscal ...
Applied Materials Joins Apple and Texas Instruments in Strengthening U...
Applied Materials Joins Apple and Texas Instruments in Strengthening U.S. Chip Manufacturing Applied is providing American-made equipment from its Austin, Texas facility to TI’s U.S. factories to manufacture foundational semiconductors for Apple productsNew $200 million investment in Arizona components factory adds to more than $400 million Applied has invested in its U.S. manufacturing footprint over the past five years SANTA CLARA, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. is working with Apple and Texas Instruments (TI) to bolster the semiconductor manufacturin...
Applied Materials to Report Fiscal Third Quarter 2025 Results on Augus...
Applied Materials to Report Fiscal Third Quarter 2025 Results on August 14, 2025 SANTA CLARA, Calif., July 24, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that it will hold its fiscal third quarter 2025 earnings conference call on Thursday, August 14, 2025, at 4:30 p.m. ET / 1:30 p.m. PT. The call will be webcast live at: . A replay will be available on the same day beginning at 8:00 p.m. ET / 5:00 p.m. PT. About Applied MaterialsApplied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions that are at the foundation of virtually every new ...
- Pierre FerraguÊ
- Pierre FerraguÊ
ASML: best positioned for 2026 in the Semicap pack. Upgrade to Buy, €7...
Consensus expects ASML to grow revenues 2% next year, compared to 6-12% for its peers. That is conservative. If anything, we see room for ASML to outperform, driven by high leading-edge exposure. Beyond 2026, we also expect ASML to grow in the upper end of its peer group. Normal order intake in 3Q would allow management to ease concerns around 2026 growth, and with the stock trading on 25x forward earnings we see limited risk of further de-rating. We hence upgrade the stock to Buy, €790 Target...
Applied Materials Appoints Jim Anderson to Board of Directors
Applied Materials Appoints Jim Anderson to Board of Directors SANTA CLARA, Calif., July 22, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced the appointment of Jim Anderson to serve on its board of directors. Mr. Anderson brings over 25 years of experience in the technology sector and semiconductor ecosystem. Mr. Anderson has also been appointed to the board’s Strategy and Investment Committee. “We are excited to welcome Jim to our board,” said Tom Iannotti, Chairman of the Board. “Jim’s extensive experience in innovation-driven technology businesses will be invaluable ...
- Pierre FerraguÊ
Semi cycle update. Much ado about nothing: Tariff and DeepSeek effects...
We publish today our quarterly and extensive review of where fundamentals, expectations, and valuations stand in semis and give our views on how investors should be positioned for the rest of the year. For details, please follow the link below.
- Pierre FerraguÊ
- Pierre FerraguÊ
Deep dive into Chinese Semicap: How much of a headwind for Western pla...
Chinese WFE spending quadrupled in five years to $41bn, driven by aggressive local deployments, while domestic vendors rapidly gained traction, capturing 13% of local spending already, mostly in deposition, etch, and CMP. In this deep dive, we assess the competitiveness of key Chinese vendors, including Naura, AMEC, and SiCarrier. We estimate first the pace (and the scope) at (and on) which they could close the gap with their western peers. On that basis we estimate the share they can gain ov...
Applied Materials and CEA-Leti Expand Joint Lab To Drive Innovation in...
Applied Materials and CEA-Leti Expand Joint Lab To Drive Innovation in Specialty Chips Based at CEA-Leti, Collaboration Focuses on Materials Engineering Solutions To Enable More Energy-Efficient AI Data Centers SANTA CLARA, Calif. and GRENOBLE, France, June 16, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. and CEA-Leti today announced the next phase of their longstanding collaboration to accelerate innovation in specialty semiconductors. Under a memorandum of understanding (MOU), the organizations plan to expand their and develop materials engineering solutions to address emerging i...
Applied Materials Announces Cash Dividend
Applied Materials Announces Cash Dividend SANTA CLARA, Calif., June 10, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a quarterly cash dividend of $0.46 per share payable on the company’s common stock. The dividend is payable on Sept. 11, 2025 to shareholders of record as of Aug. 21, 2025. The cash dividend is a key component of Applied’s capital allocation strategy. In March 2025, Applied announced a 15-percent increase in the quarterly dividend per share, from $0.40 to $0.46, marking eight consecutive years of dividend increas...
- Pierre FerraguÊ
Bible 1Q25 – Memory: all set for the upcoming HBM run.
Today, we are publishing the Memory section of our 27th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. DRAM COGS increased 9% YoY but was down 15% QoQ, along usual seasonality and with China curbs hurting Samsung’s HBM. The outlook remains strong, with all manufacturers expecting HBM revenues to more than d...
- Pierre FerraguÊ
Bible 1Q25 – Semicap: Not everyone can gain market share.
Today, we are publishing the Semicap section of our 27th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. Semicap equipment revenues were down 7% QoQ, with Chinese spending declining 17% sequentially after two years of elevated demand. Vendors maintain their view of slight WFE spending growth, with memory and...
Applied Materials to Participate in Upcoming Investor Conferences
Applied Materials to Participate in Upcoming Investor Conferences SANTA CLARA, Calif., May 22, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that members of management will participate in fireside chats at upcoming investor conferences. Gary Dickerson, President and CEO, will participate at the Bernstein Strategic Decisions Conference on Thursday, May 29 beginning at 7:00 a.m. PT / 10:00 a.m. ET. Brice Hill, Senior Vice President and CFO, will participate at the BofA Securities Global Technology Conference on Wednesday, June 4 beginning at 10:40 a.m. PT / 1:40 p.m. ET...
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