Soitec: Extended inventory correction; strong setup for 2025

Soitec provided guidance for its FY25 (Mar-25) that was materially below consensus expectations.

The Tech Infrastructure Quarterly Bible 4Q23

We publish today our comprehensive quarterly bible: 212 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings, and latest thoughts on the semi cycle, in 6 slides:

Soitec 3FQ24: Extended downcycle, but good progress on SmartSiC and PO...

Soitec reported 3FQ24 this morning.

Bible 4Q23 - Smartphones: overall demand improves, iPhone slows, semis...

Today, we are publishing the Smartphones section of our 22nd 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 130 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Cloud Infrastructure, Telecom Equipment, Industrials, PCs, Enterprise IT, Ride sharing & Delivery, Foundry, Memory and Semicap Equipment. Sma...

Soitec 1H24 Model Update

We update our Soitec model to reflect our updated estimates after the 1H24 report.

The Tech Infrastructure Quarterly Bible 3Q23

We publish this morning our comprehensive quarterly bible: 218 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings, and latest thoughts on the semi cycle, in 6 slides.

Bible 3Q23: Smartphones: demand stabilizing; iPhone remains strong; s...

Today, we are publishing the Smartphones section of our 21st 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 130 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Cloud Infrastructure, Telecom Equipment, Industrials, PCs, Enterprise IT, Ride sharing & Delivery, Foundry, Memory and Semicap Equipment. Smar...

The Tech Infrastructure Quarterly Bible 2Q23

We publish this morning our comprehensive quarterly bible: 199 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings, and latest thoughts on the semi cycle, in 6 slides.

Datacenter spend shifting to A.I., smartphones recovering slowly, PC C...

As always, during earnings season, we start the week with a wrap-up of what happened in the previous week.

The Tech Infrastructure Quarterly Bible 1Q23

We publish this morning our comprehensive quarterly bible: 192 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings, and latest thoughts on the semi cycle, in 6 slides:

Bible 1Q23 - Smartphones: iPhone still defies broader slowdown; Semi i...

Today, we are publishing the Smartphone section of our 19th 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 130 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Cloud Infrastructure, Telecom Equipment, Industrials, PCs, Enterprise IT, Ride sharing & Delivery, Foundry, and Semicap Equipment. Demand dete...

Cloud capex jump to finance A.I. deployments, the Mobileye cheese souf...

Soitec 4FQ23: Steep but short cycle reiterated. Positive developments ...

Soitec reported sales for 4FQ23. Our quick take.

Soitec: Take-aways from our visit of the SmartSiC fab

We hosted last week a tour of Soitec’s Bernin fab and investor meetings with the company’s CEO, CFO, CTO, Head of Strategy and Head of Supply. This follows our recent conference call with the company on SmartSiC (replay available HERE). Our top takeaways of the events

The Tech Infrastructure Quarterly Bible 4Q22

We publish this morning our comprehensive quarterly bible: 174 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings, and latest thoughts on the semi cycle, in 5 slides.

The Tech Infrastructure Quarterly Bible 3Q22

We publish this morning our comprehensive quarterly bible: 170 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings in 5 slides: The Bible presents our latest views on the semiconductor cycle and how we see the industry positioned for 2023.

SiC and GaN: Growth, competitive dynamics, GTAT & onsemi, threat from...

We hosted Jean-Christophe Eloy, the CEO of Yole Research, for a conference call last week. He is one of our key sources of insights into the power semi market and the emerging silicon carbide and gallium nitride value chains. Read on for our takeaways from the call.

TM first to embrace Soitec’s SmartSiC. Our take.

Industrial cycle turning; Autos strong... for now; Cloud resilient, En...

As always, during earnings season, we start the week with a wrap-up of what happened in the previous week

Soitec 2FQ23: Strength across the board

Soitec reported 2FQ23 revenues yesterday and hosted its conference call this morning.