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Aug. 18, 2015, 9:16 AM
- Less than a month after upgrading SanDisk (NASDAQ:SNDK) to Buy in response to its Q2 beat and in-line guidance, BofA/Merrill has issued a two-notch downgrade to Underperform.
- The firm argues recent memory industry capex hikes suggest a lack of discipline - Micron (NASDAQ:MU) recently set a higher-than-expected FY16 (ends Aug. '16) capex budget of $5.3B-$5.8B, and SK Hynix (OTC:HXSCF) stated yesterday it's considering making $39B worth of new fab investments.
- BofA also points points out recent memory spot price corrections indicate major players continue to compete aggressively, in spite of industry consolidation.
- SanDisk has dropped to $56.37 premarket. The 52-week low is $53.18.
Aug. 3, 2015, 2:29 PM
- Taiwan's Economic Daily News reports Samsung (OTC:SSNLF) plans to cut standard DRAM production by 30%, and shift capacity to mobile DRAM ahead of the iPhone 6S launch. Rival Micron (NASDAQ:MU) is up strongly on a day the Nasdaq is down 0.7%.
- The paper also reports Samsung has notified OEMs it won't be cutting DRAM prices as of August - a move that could lead to higher prices - and (in-line with past reports) that the iPhone 6S will have 2GB of DRAM, up from the 1GB found in the iPhone 6.
- PC DRAM price pressure (caused in no small part by weak PC sales) has been weighing on Micron: The company's DRAM ASP fell 10% Q/Q in FQ3 (the May quarter); FQ4 guidance is for a mid-to-high single-digit drop.
- JPMorgan reported today PC DRAM contract prices fell 15% in July, more than it expected. The industry is hoping Windows 10 (launched last Wednesday to fairly good reviews) will help boost demand.
- Related ticker: OTC:HXSCF
Apr. 24, 2015, 11:37 AM
- Possibly weighing on Silicon Motion (SIMO -7.1%) today: Northland Securities observes memory giant SK Hynix (OTC:HXSCF - reported earnings on Wednesday) plans to launch its own NAND controllers for the new/high-speed UFS 2.0 standard in late 2015 or early 2016
- Northland expects UFS 2.0 (used in Samsung's Galaxy S6 and expected to go into Xiaomi's next-gen flagship) to gain share against the widely-used eMMC standard on the high-end, and thinks Hynix's controllers "will likely impact SIMO's share" at the company. It notes Hynix accounts for ~90% of SIMO's eMMC controller business, or ~35% of total revenue.
- SIMO is working on its own UFS 2.0 controllers, which are expected to ship late this year or early next. Northland: "I do not believe that all of the eMMC business is at risk, but this will not be received well by the Street. SIMO will have this as a headwind until they can show that they will not lose significant share at SK Hynix."
- Earlier: SIMO buying Chinese SSD/storage vendor
Feb. 27, 2012, 9:09 AM
Jul. 29, 2011, 3:45 PMMemory technology firm Rambus (RMBS) is down 3.2% after an appeals court refuses to reconsider a ruling finding the company guilty of destroying documents relevant to a lawsuit against DRAM manufacturers Micron (MU) and Hynix (HXSCF.PK). However, analyst Mike Crawford doesn't think the ruling will affect the conflict's resolution. | Jul. 29, 2011, 3:45 PM | 1 Comment
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