WFE spending will grow 5% this year, with Chinese spending hiding a full cyclical downcycle in the rest of the world. Consensus forecasts 2025 in line with the 4Q24 run-rate and up nearly 20% vs. 2024; we see downside risk and expect 2025 growth, but only in the low-teens. Beyond 2025, visibility is still low. Multiples have compressed in absolute terms and relative to semis, but with likely negative revisions in revenue and earnings in 2025 there could be further downside. We see no reason to...
In our last note we highlighted that ASML was relative cheap in a costly sector. Over the past months multiples in the sector contracted and the premium of ASML increased. Nevertheless, is the premium of ASML still relative low. Therefore, we expect that ASML will outperform the sector. Furthermore, we see upside based on 2025 multiples and our DCF based valuation is in line with the current valuation. We increase our rating from Hold to Accumulate as we expect ASML to outperform the sector and ...
A director at NVIDIA Corp sold 165,100 shares at 121.269USD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
AMD Instinct MI300X Accelerators Available on Oracle Cloud Infrastructure for Demanding AI Applications — Customers including Fireworks AI are powering their AI inference and training workloads with new OCI Compute instances -- — OCI Supercluster leads among cloud providers with support for up to 16,384 AMD Instinct MI300X GPUs in a single ultrafast network fabric -- SANTA CLARA, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) today announced that Oracle Cloud Infrastructure (OCI) has chosen AMD Instinct™ MI300X accelerators with ROCm™ open software to power its newest OCI...
Micron’s FY24 results are a reminder that the chip industry is still doing well. Pelham Smithers considers what is reflected in the shares price of the wafer fab equipment makers and highlights two Japanese plays that offer undemanding valuations.
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