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  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    Unbelievable.....a 3D-based 1 Tb NAND memory soon.......this is the quiet power (and assertiveness, if you would permit me to say that) of the Asian players, whether it be TSM, Samsung, Hynix or any of the others. Only about 2 months ago, Sandisk CEO declared in a conference call that it is just not yet "economically viable" to move from planar to 3D memory devices yet, as the yield on 3D vs planar is just not going to be there to justify the R&D, capex, etc. I told myself, this is a strange comment, as surely it must be far more complicated technologically to place X86 ISA for example, on 3D than to build lowly, plain vanilla, repetitive memory capacity on 3D. Caution: I am no technologist, no expert at any of this stuff.

    Well, your article seems to confirm my suspicion/fear, and leads me to "worry" (sorry, I worry about many things that don't seem to make sense, and this so glaringly "steal" of an Elpida acquisition by MU for next to nothing is one of them) that perhaps Samsung is going to place 3D capacity in its brand new memory plant planned in China.....and yet again, leave MU and Sandisk to bite, sorry, the sand......?
    Aug 6 06:02 AM | 2 Likes Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    There is a worrier side of me which thinks "what if they announce on Friday that they are going to issue large chunks of new stock to fund the recent acquisition and/or reduce the hefty debt that they have undertaken of late".

    Markets are not going to appreciate this news, even if operationally they give out good ones....
    Aug 5 11:23 AM | Likes Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    Sadly, never seen, heard being spoken of, or bought a Lexar. The world of memory disks to me has been either Sandisk or Sony or Hutchison.
    Aug 5 08:26 AM | 1 Like Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    Isn't part of the reason for the higher valuation for SNDK the fact that they are marketing their products under their own brand down to the retail level. I'm no expert, but I've seen loads of Sandisk memory products in computer and camera stores, but never sighted one called Micron. Instead, it has always been either Hutchison or some other brands.
    Aug 5 05:01 AM | 1 Like Like |Link to Comment
  • Should Microsoft Drop Bing? [View article]
    If we look at this problem (for Microsoft) in another way, i.e. from the standpoint of the advertisers, I feel most companies can barely afford to advertise/"to be priority searched" on one search engine, not two. The generally accepted "standard" I am afraid is Google, and I think it is fair to suggest also, given that Microsoft was coming in from behind, there are at least a dozen names one could have thought that are better than Bing.

    It is also useful to listen to the webcasts of Google's recent product introductions and their recent AGM just to appreciate how deep and broad their view of the world is, using Search as their core. Having conquered the Maps world entirely to themselves, Bing is seriously at risk of being left behind for good, at least for the consumer market. As for corporates, I wonder what their differentiation is, as Bing is part of several adjacencies (e.g. Skype, Outlook, etc) that they can package/price as a unified solution, to be installed across the enterprise.
    Aug 5 04:54 AM | Likes Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    As a side comment to yours about "Micron management", one has to take this opportunity to remember the late CEO Steve Appleton, who may well have laid the "flight path" to take out Elpida before his untimely passing in early Feb 2012.
    Aug 4 03:56 PM | 1 Like Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    As somebody on CNBC Half-time commented (taking a little poetic licence as to what this person actually said), "the memory chip industry has always been on a boom/bust cycle, so why should it be different this time?"

    Like those of us who've watched this space for some 30 years, it is not unwise to ask ourselves why should it be different this time.....I do think the CEOs of these companies in years past have always gone on ego trips of sorts that had profitability and share price further down the list of priorities than things like capacity/speed, fab capacity, being first.....esp, as you suggest, capex is going through the roof and yields are harder and harder to achieve.
    Aug 4 03:43 PM | Likes Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    Re: "You say that the trend in storage now is toward "more reliance on SSD systems and less on memory (DRAM/NAND) based data storage for huge in-memory computing demands, such as gaming, video, big data applications, etc." Honestly, this makes no sense at all. "
    I agree, it makes no sense at all, as I was obviously referring to HDDs, as the companies I refer to are essentially leveraging the huge installed base of storage farms (I'm old enough to know RAIDs) apologies, my eyes and brain were both tired, it was a tough set of reports to follow, but well worth the read.
    Aug 4 12:11 PM | 1 Like Like |Link to Comment
  • Should Microsoft Drop Bing? [View article]
    Microsoft should acquire Yahoo, give Marissa Meyer a key position at the merged entity, including assigning her responsibilities for Bing, and integrating MSN, Yahoo, Bing and relevant adjcencies into an energised platform with futuristic thinking a la Google.

    This is not likely to happen, so it is a foregone conclusion that Microsoft will continue to be a mediocre performer, while the likes of Oracle, Cisco and even IBM take more and more of the sexy parts of the IT mindshare.
    Aug 4 10:04 AM | Likes Like |Link to Comment
  • Is It Time To Buy Freeport-McMoRan? 2 Insiders Just Paid Over $42.8 Million [View article]
    Given a very lacklustre employment report on Friday, and heretofore only pain in China, it would seem to me that FCX will do a lot worse than buy back its own stock, keep debt at current levels (as low interest rates are the 'in thing' for a long time to come) and not let go of all its precious O&G assets that it just purchased.

    Even if prices of all three commodities (copper, gold and oil) go down in the months to come, FCX knows how to squeeze profits at every level.
    Aug 4 07:01 AM | Likes Like |Link to Comment
  • Elpida Is Now Micron - Or Back To (From) The Future - Part 2 [View article]
    Very insightful analysis of just about the most complex set of financial goings-on at what used to be a relatively 'simple' company: manufacturer of DRAM chips. Congratulations to RF and the FASB expert RJ.

    Having tried to follow both your articles as carefully as my aged eyes and brain would permit, I come away with the following concerns:

    - to my mind, purchase accounting rules under FASB will normally require that at the time of concolidating Elpida into MU, the tremendous valuation benefits you point to should flow directly into the equity component of the Balance Sheet (vs P&L, which will directly increase EPS and therefore PE). Therefore, it would seem to me that the tremendous benefit MU is cliamed to have received in underpaying for a 'crown' asset will not be seen in the P&L anytime in the future;
    - as any ordinary person would/should, I keep asking myself were the Elpida bond/shareholders so stupid/naive as to let go of such a priced 'pearl of the Orient' just at a time when the smartphone, cloud server memory storage, etc etc businesses were all going to take off in terms of memory demand, whether it be in NAND, DRAM.....surely, there must be a 'catch' somewhere, in other words, are we not seeing something that Elpida people saw 1 1/2 years ago, when they decided to send Elpida off to the bankruptcy path;
    - it seems to me that this purchase is closing just as high end smartphone sales growth at the likes of Samsung, Apple, HTC and the like is ebbing, so what if memory demand for these players slow in coming quarters;
    - should we lose sight of the fact that MU's traditional business is still being a supplier to the Wintel eco-system, i.e. DRAM and the financial pain declared recently by the likes of Intel, Microsoft, HP, Dell, even IBM must surely creep through to MU; and finally,
    - aren't the likes of EMC, NTAP, STX, WDC and even CSCO going to 'war' on rationalising the need for more and more hardware, sell 'services' (vs hardware) by doing their best at re-using/optimising the huge store of in place, legacy SSD drives, increasing access speeds through SDN, etc so that over the longer term, the trend will reverse: i.e. more reliance on SSD systems and less on memory (DRAM/NAND) based data storage for huge in-memory computing demands, such as gaming, video, big data applications, etc.
    Aug 4 06:23 AM | 1 Like Like |Link to Comment
  • Forget The Temporary Worries, Lenovo Built To Continue Winning [View article]
    Of all the new ventures Lenovo has branched into, the 2 that it absolutely needs to win are:
    - the storage/SDNnetworking/... mix and matching that is taking place as we speak, practically all over the world. In this regard, they were smart to tie up with EMC, as EMC brings lots of key adjacencies to the table. I expect Lenovo to learn quickly, both hardware and highly complex software aspects of this business, and to look toward clear skies in the "cloud" (pun intended);
    - if the deal with IBM can be struck, it will almost be the final bow they need to go into the hearts and minds of Fortune 500 companies worldwide, as, in my opinion, IBM is giving up on a crown jewel. With Intel well on the way to producing best-in-class server chips, including embedded security, advanced networking capabilities (and one day, hopefully soon, even advanced graphics) within its SoCs, all on FinFet, IBM's own chips will likely fall behind. With Windows 8 core technologies advancing to be as good as IBM's z/AIX on mainframes all the way up to little blade servers, Lenovo could serve out win after win getting into those hard to reach corporate IT infrastructure, hardware, software, networking and everything else that exists in between.

    And let us not forget, China Inc. is not going to let this baby down, is China's most well established, world class brand name.
    Jul 31 08:02 AM | 2 Likes Like |Link to Comment
  • Apple's Tim Cook meets China Mobile Chairman Xi Guohua [View news story]
    Perhaps an equally relevant question to ask is how much higher China Mobile's sales would be, if they had the Apple platform sewn up, esp on CM's terms......
    Jul 31 07:24 AM | Likes Like |Link to Comment
  • Ruckus Wireless Indoor Location Acquisition Goes Head To Head With Cisco And Aruba [View article]
    Does Qualcomm's investment in Alcatel-Lucent to develop small cell technology effectively make this behemoth a competitor to tiny Ruckus?
    Jul 31 01:22 AM | 1 Like Like |Link to Comment
  • Seeking Alpha fires a shot at Bloomberg, StreetAccount [View news story]
    Great format, my only recommendation is to install an easy way to remove stocks in my "portfolio", as the world keeps moving....
    Jul 29 07:30 AM | 5 Likes Like |Link to Comment