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Ashraf Eassa

 
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  • Oclaro Burning Cash At An Alarming Rate [View article]
    You're welcome, Neha. Keep writing!
    Jul 24 04:19 AM | 2 Likes Like |Link to Comment
  • Oclaro Burning Cash At An Alarming Rate [View article]
    Thanks for the article, Neha - good springboard for future research.
    Jul 24 03:54 AM | Likes Like |Link to Comment
  • Arm Holdings (ARMH): Q2 adjusted pretax profit +30% to £86.6M; IFRS pretax profit plunges to £15M from £54.8M. Earnings per ADS 3.41 cents vs 13.32 cents. Revenues +26% to £171.2M vs consensus of £165.1M. Increases interim dividend by 26% to 2.1 pence per share. (PR[View news story]
    Of course, nobody will care that IFRS profits plunged and keep on buying.
    Jul 24 03:31 AM | 1 Like Like |Link to Comment
  • A $180 Million Company Worth Less Than $0: Short Xumanii [View article]
    VI,

    Thank you, sir. I agree - if I could actually short these things, I would be able to retire within a few short years.
    Jul 23 10:36 PM | Likes Like |Link to Comment
  • Amkor Technology: Dirt Cheap With Significant Growth Drivers And Strong Competitive Positioning [View article]
    VI,

    Appreciate the comment, and now offer a response:

    "We are extremely skeptical about the possibility that AMKR would get Apple business. AMKR does NOT do Intel Microprocessors. If they ever did, it was not in the last 15 years. Apple ain't going to happen. "

    Intel is one of Amkor's top 10 customers in terms of revenue. While this may simply represent Intel's (not inconsiderable) baseband business, I still believe that this does not detract from my point. Do note that Qualcomm - the current market leader in both smartphone applications processors as well as cellular baseband chips - is also a top 10 customer at Amkor. I would not be so quick to dismiss Amkor getting the Apple business, particularly as I still believe that for advanced packaging technology, AMKR leads ASE and SPIL.

    "Debt is significant and adds risk (or perceived risk) if semi cycle craters (although maturities are basically years away $105mil in 2015)."

    While AMKR's balance sheet is more highly levered than that of SPIL or ASE, it is not significantly worse off that ASE's, which I would view as the primary competitor in advanced packaging technology.

    "In semi packaging, we'd point investors to IMOS which trades at a discount to AMKR (currently about 2.5x EV/EBITDA)"

    Understand that you are very bullish on IMOS, but I believe that looking at FCF for AMKR during 2012/2013 may be misleading as the company has been engaging in a good deal of capital spending which should begin to pay off during 2014 and 2015.

    "Debt is significant and adds risk (or perceived risk) if semi cycle craters (although maturities are basically years away $105mil in 2015)."

    Agreed, but I see no signs that this will be the case. Will update this thesis appropriately if things begin to look sour.

    "Gross margins declining since 2010 (see GM slide on p15 of investor deck)"

    I expect as utilization continues to be healthy, especially in light of the aforementioned growth drivers, I expect we may have seen the bottom on the GMs.
    Jul 23 10:35 PM | 2 Likes Like |Link to Comment
  • Intel: I Want My Haswell Ultrabook Now! [View article]
    That's Ivy Bridge based.
    Jul 23 06:39 PM | 2 Likes Like |Link to Comment
  • Intel: I Want My Haswell Ultrabook Now! [View article]
    patt2374,

    Here you go:

    http://amzn.to/1400og4

    And the Vaio Duo 13:

    http://bit.ly/1400og8
    Jul 23 06:37 PM | 3 Likes Like |Link to Comment
  • Amkor Technology: Dirt Cheap With Significant Growth Drivers And Strong Competitive Positioning [View article]
    Absolutely a good plan. Thanks for commenting, Inefficient Market!
    Jul 23 06:04 PM | Likes Like |Link to Comment
  • A $180 Million Company Worth Less Than $0: Short Xumanii [View article]
    Nope. The only compensation I received was from SA for this article.
    Jul 23 03:39 PM | 2 Likes Like |Link to Comment
  • A $180 Million Company Worth Less Than $0: Short Xumanii [View article]
    Kato534,

    Considering that TD Ameritrade doesn't have shares to borrow, I do not expect to be able to take a short position.
    Jul 23 03:09 PM | 3 Likes Like |Link to Comment
  • A $180 Million Company Worth Less Than $0: Short Xumanii [View article]
    This was on a desktop PC, and the URL was fishy.
    Jul 23 02:55 PM | Likes Like |Link to Comment
  • Advanced Micro Devices' Graphics And Visual Solutions Operations [View article]
    Nice article, Justin. Thank you!
    Jul 23 02:40 PM | 1 Like Like |Link to Comment
  • Microsoft And Nokia: The Blind Leading The Blind [View article]
    Yes, SA authors are indeed required to disclose short positions.
    Jul 23 02:36 PM | 1 Like Like |Link to Comment
  • Amkor Technology: Dirt Cheap With Significant Growth Drivers And Strong Competitive Positioning [View article]
    You're welcome, Wilson!
    Jul 23 02:33 PM | Likes Like |Link to Comment
  • Radcom On Cusp Of Inflection, Shares Offer Multi-Bagger Potential [View article]
    Good call, VI :)
    Jul 23 01:21 PM | Likes Like |Link to Comment
COMMENTS STATS
8,867 Comments
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