Tue, Aug. 18, 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.
Mon, Aug. 3, 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
Fri, Apr. 24, 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 AMMicron (MU) +5.4% premarket after Japan-based DRAM maker Elpida files for bankruptcy protection. Elpida is expected to continue producing chips, at least for now, but the move should help other DRAM makers, including Micron, Samsung (SSNLF.PK) and Hynix (HXSCF.PK). | Feb. 27, 2012, 9:09 AM | Comment!
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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