Yesterday, 12:13 PM
- Analyst Vijay Rakesh notes fundamentals across the subset remain in place and despite coming up on a seasonally weaker March quarter, sees recent downturn resulting in an acquiring opportunity.
- Highlights a semiconductor group trading at 2013 levels and sees forthcoming catalysts stemming from robust earnings growth, cost synergies, positive industrial, automotive, defense and aerospace, and further M&A consequent expected regulatory climate improvements.
- Recommends Intel (INTC +1%), Qualcomm (QCOM +2.4%), Micron Technology (MU +3.1%), Broadcom (AVGO +0.7%), ON Semiconductor (ON +0.7%), Cypress Semiconductor (CY +0.6%) and Microsemi (MSCC +0.6%).
Thu, Dec. 1, 9:31 AM
- November monthly performance was: +0.62%
- 52-week performance vs. the S&P 500 is: -5%
- No dividends were paid in November
- Top 10 Holdings as of 10/31/2016: Apple Inc (AAPL): 4.78232%, Microsoft Corp (MSFT): 3.6545%, General Electric Co (GE): 2.09427%, Procter & Gamble Co (PG): 1.43859%, Exxon Mobil Corp (XOM): 1.36332%, Wells Fargo & Co (WFC): 1.34175%, Intel Corp (INTC): 1.2948%, Bank of America Corporation (BAC): 1.2811%, Pfizer Inc (PFE): 1.22767%, Alphabet Inc C (GOOG): 1.22159%
Tue, Nov. 29, 7:15 PM
- Intel (NASDAQ:INTC) recruits an executive from rival ARM Holdings (NASDAQ:ARMH) to become senior VP in charge of a group focusing on the Internet of Things, effective in January.
- The IoT group is one of three focus areas for INTC, which is transitioning from a PC-focused business to one that powers ubiquitous computing as more and more devices become intelligent and connected.
- INTC also says it is forming an automated driving unit that will develop chips and other technology related to self-driving cars and driver-assistance systems, to be led by Douglas Davis, a senior VP who has been running the IoT group and had previously announced plans to retire.
Tue, Nov. 29, 3:30 AM
- Auto parts maker Delphi Automotive (NYSE:DLPH) and Mobileye (NYSE:MBLY) are putting an Intel (NASDAQ:INTC) chip at the heart of their joint effort to produce self-driving cars by 2019.
- The move is a boost for the world's largest semiconductor maker, as it will afford an opportunity to catch up in autonomous vehicles, a field where some chip makers have made deeper inroads.
Fri, Nov. 18, 3:03 PM
- Following Intel's (INTC -0.4%) acquisition of Nervana Systems in August, the company discloses aim to provide "the industry’s most comprehensive portfolio for AI" through the forthcoming "Intel Nervana Platform." Further, silicon optimized for neural network usage, "Lake Crest," will begin testing in H1 2017 and ship to select customers within the year, and a new product, "Knights Crest," that integrates tightly with Xeon processors and Nervana technology, has been added to the product roadmap. Next generation Xeon and Xeon Phi processors, and other AI assets and initiatives are also highlighted in the outline.
- Intel's Diane Bryant, executive vice president and general manager of the Data Center Group: "We expect the Intel Nervana platform to produce breakthrough performance and dramatic reductions in the time to train complex neural networks. Before the end of the decade, Intel will deliver a 100-fold increase in performance that will turbocharge the pace of innovation in the emerging deep learning space."
- While Intel's position in the artificial intelligence space relative to high-flying Nvidia (NVDA +1.3%) is challenged by some, the former claims it holds 97% share of data center servers operating AI workloads (which is in turn claimed by Mizuho Securities to represent 0.1% of all current server dedication, though expected to grow) and has seemingly choice opportunity to benefit as the AI market rapidly expands.
- Yesterday: Google, Intel form enterprise cloud alliance
- The Intelligence Revolution – Intel’s AI Commitments to Deliver a Better World [Brian Krzanich]
Thu, Nov. 17, 11:56 AM
- Google (GOOG, GOOGL) and Intel (INTC +0.3%) have worked on datacenter processor technology before, and are expanding on that relationship today to guide customer transition from legacy infrastructure to cloud solutions.
- Areas of focus include optimization of Kubernetes for Intel architecture, TensorFlow (machine learning) performance improvements on Intel chips, development of a secure IoT platform enabling connection of Intel edge devices to Google Cloud Platform and overall strengthened security integrations between Intel hardware and Google infrastructure.
- With this development the latest among a grouping of others in recent days, Google continues to ramp attention on its cloud contribution as it looks to take greater share in a market to this point predominantly led by Amazon and Microsoft.
- This week: Baird notes Google distinction among artificially-intelligent cloud contenders / Google bolstering attention on AI, cloud synergies / Microsoft ramps focus on Azure's AI role / Nvidia, Microsoft collaborating on enterprise AI / Google Cloud Machine Learning family grows with new API, editions and pricing
Wed, Nov. 16, 2:35 PM
- In a note on the hypothesis, analyst Ian Ing spotlights advantage for Nvidia's (NVDA +6.2%) GPUs, Intel's (INTC -0.5%) and Xilinx's (XLNX -0.4%) field-programmable gate arrays, and Intel's co-processors and full-custom solutions. Regarding Advanced Micro Devices (AMD +9.4%), considers to be "too resource constrained to fully address the opportunity."
- Potential and acceleration in data center machine learning ($2B-$4B), autonomous driving ($9B+ per 10% unit share increment) and deep learning ($4B) [drones, robots, niche verticals etc.] represent base calculation of the $15B+ figure.
- With developments evolving quickly in the space, and other supply players involved (i.e. Qualcomm/NXP Semiconductors etc.), shifts in advantage and opportunity throughout the field, and these names, are of course nonetheless constantly in motion.
- Ing rates Nvidia and Intel at Buy with respective $87 (current price $91.44) and $44 (current price $34.73) targets. Xilinx is set at Neutral with a $35 target (current price $53.66) while Advanced Micro Devices is unrated in the issued commentary.
Tue, Nov. 15, 2:50 PM
- Disclosed by Intel (INTC +1.2%) CEO Brian Krzanich at the LA Auto Show’s AutoMobility conference, marking the first time the company has represented a keynote participant at an automotive conference. Intent "to make fully autonomous driving a reality" indicated.
- Multiple investments will be made over the next two years.
- Next-generation connectivity, context awareness, deep learning, security and safety developments targeted.
- Highlighting the automotive industry as one at the point of substantial transformation, Krzanich points out the increasing demand for computing, intelligence and connectivity.
- Within the industry so far, Intel has recorded $1B in design win revenue over the last 12 months and maintains 49 wins from BMW, Daimler, Hyundai, Infiniti, Jaguar, Kia, Lexus, Mini Cooper, Rolls Royce, Toyota, Tesla and elsewhere.
- Data is the New Oil in the Future of Automated Driving [Brian Krzanich]
Thu, Nov. 3, 1:03 PM
- To integrate with recently-formed Intel Sports Group.
- The entities had collaborated previously, with Intel (NASDAQ:INTC) also already an investor in the operation.
- James Carwana, GM Intel Sports Group: "Imagine being able to witness a slam dunk from the defender’s perspective or the defensive rush from the quarterback’s perspective. This kind of experience may sound futuristic, but it’s closer than you think."
- While it remains to be seen what implementations will result from the purchase, the growing focus by Intel on the "digitization of sports" and technologies revolving around augmented and virtual reality continues.
- Intel press release
- VOKE press release
Thu, Nov. 3, 8:30 AM
- October monthly performance was: -1.8%
- 52-week performance vs. the S&P 500 is: -1%
- No dividends were paid in October
- Top 10 Holdings as of 9/30/2016: Apple Inc (AAPL): 4.64831%, Microsoft Corp (MSFT): 3.40563%, General Electric Co (GE): 2.05346%, Procter & Gamble Co (PG): 1.51815%, Intel Corp (INTC): 1.33113%, Pfizer Inc (PFE): 1.29305%, Wells Fargo & Co (WFC): 1.27332%, Bank of America Corporation (BAC): 1.19819%, Alphabet Inc C (GOOG): 1.19344%, Exxon Mobil Corp (XOM): 1.15839%
Thu, Oct. 27, 2:00 PM
- MacBook Pro – all-metal design, 13-inch and 15-inch models in silver and space gray, thinnest and lightest Pro ever, 2x larger Force Touch trackpad, retina display Touch Bar (adapts to in-use software), Touch ID fingerprint sensor, Apple T1 Chip (with Secure Enclave), Intel Core i7 (NASDAQ:INTC) and Radeon Pro (NYSE:AMD) GPU (Polaris architecture) on 15-inch model, priced at $1,499, $1,799, $1,999 for 13-inch options and $2,399, $2,799 for 15-inch, available to order today
- TV – "future of TV is apps," 8K apps across broad range of categories, 2K games (Minecraft forthcoming), 1.6K apps from video content provides, live news, sports and movies, Twitter (TWTR +2.2%) integration (Thursday Night Football demoed), "TV" app (unified experience through TV, iPhone, iPad; Siri capabilities; available December)
- Update (2:25PM ET): Event concluded. Although other Mac hardware developments were speculated (iMac, MacBook Air), the MacBook Pro was the most highly anticipated. A streamlined 12 to 15-inch offering range, inclusive of the MacBook, is targeted.
- Apple (NASDAQ:AAPL) shares 0.53% lower on the day.
- Yesterday: Microsoft upgrades Surface Book, introduces Surface Studio, updates on mixed-reality and other initiatives
Mon, Oct. 24, 11:46 AM
- Movidius will supply Myriad 2 Vision Processing Unit technology for a new range of Hikvision smart cameras.
- Deep neural network technology capable of "allowing security systems to automatically detect anomalies such as suspicious packages, drivers distracted by mobile devices, and intruders trying to access secure locations" noted.
- While operating deep neural networks has traditionally required external, cloud compute processing, Movidius VPUs are low-power and able to run these algorithms internally.
- Movidius CEO Remi El-Ouazzane: “Advances in artificial intelligence are revolutionizing the way we think about personal and public security. The ability to automatically process video in real-time to detect anomalies will have a large impact on the way cities infrastructure are being used. We’re delighted to partner with Hikvision to deploy smarter camera networks and contribute to creating safer communities, better transit hubs and more efficient business operations.”
- Hikvision CEO Hu Yangzhong: "There are huge amounts of gains to be made when it comes to neural networks and intelligent camera systems. With the Myriad 2 VPU we’re able to make our analytics offerings much more accurate, flagging more events that require a response, while reducing false alarms. Embedded, native intelligence is a major step towards smart, safe and efficiently run cities. We will build a long term partnership with Movidius and its VPU roadmap."
- Intel (INTC +0.2%) acquired Movidius early in September.
Thu, Oct. 20, 4:51 AM
- An adviser to the Court of Justice of the European Union (ECJ) has backed Intel's (NASDAQ:INTC) appeal against a record €1.06B ($1.16B) fine for antitrust violations and believes a lower court should review it.
- "Intel's appeal...for abuse of its dominant position should be upheld," Advocate General Nils Wahl said.
- EU regulators imposed the penalty in 2009 for Intel's attempts to stifle Advanced Micro Devices (NYSE:AMD). This included giving rebates to major PC makers for purchasing the bulk of their computer chips from Intel.
Tue, Oct. 18, 5:35 PM
Tue, Oct. 18, 4:45 PM
- Intel's (NASDAQ:INTC) Q3 is highlighted by 9.1% Y/Y revenue growth and 21% Y/Y net income ($3.9B) growth. Further records gross margin of 64.8%, operating income of $5.1B, EPS of $0.80, cash from operations of $5.8B, paid dividends of $1.2B and share repurchases of $457M.
- Key business unit revenues: Client Computing Group – $8.9B (+21% Q/Q, +5% Y/Y), Data Center Group – $4.5B (+13% Q/Q, +10% Y/Y), IoT Group – $689M (+20% Q/Q, +19% Y/Y), Non-Volatile Memory Solutions Group – $649M (+17 Q/Q, -1% Y/Y), Intel Security Group – $537M (unchanged Q/Q, +6% Y/Y, Programmable Solutions Group – $425M (-9% Q/Q).
- Projections: Q4 revenue of $15.7B (+/- $500M) [$15.87B consensus], gross margin of 63% (+/- few percentage points), R&D plus MG&A spending of $5.2B, amortization of acquisition-related intangibles included in operating expenses at $0, impact of equity investments and interest and other, net at -$100M, depreciation of $1.5B and tax rate of 22%. For FY 2016, models no non-GAAP restructuring charges and $9.5B (+/-$500M) in full-year capital spending. Remainder of total restructuring and other charges of $2.3B to primarily be recorded between now and mid-2017, with $1.8B realized to-date and $250M anticipated for Q4.
- Brian Krzanich, Intel CEO: "It was an outstanding quarter, and we set a number of new records across the business. In addition to strong financials, we delivered exciting new technologies while continuing to align our people and products to our strategy. We’re executing well, and these results show Intel’s continuing transformation to a company that powers the cloud and billions of smart, connected devices."
- Despite the after-hours downturn, Intel shares are still presently up 1.2% since yesterday's close.
- Conference call
- CFO commentary
- Press release
Tue, Oct. 18, 4:04 PM