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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (14741)	10/31/2022 9:42:38 AM
From: Kirk ©	1 Recommendation Recommended By Return to Sender Respond to of 26398

TSMC sees major clients continue order cuts, but remains confident about 2023 Monica Chen, Hsinchu; Willis Ke, DIGITIMES Asia Monday 31 October 2022 With semiconductor inventory woes intensifying at supply chains, even TSMC cannot withstand the subsequent order-cutting storm, as many of its top-10 clients have cut more orders than expected since the third quarter, according to industry sources. But the foundry remains confident about its 2023 sales growth, mainly bolstered by strong order momentum from Apple and new volume orders from other major clients, the sources added. Starting in the third quarter, TSMC has seen its capacity utilization for 8-inch and 12-inch mature processes fall, following order cuts from dozens of clients in the notebook, handset and TV sectors plagued by worsening end-market sales, the sources said. Notable reductions in 7nm chips have also driven down capacity utilization for the process node, while clients for 5nm process have also scaled down orders or adjusted shipment pull-in schedules, the sources continued. Among TSMC's top-10 clients, MediaTek, AMD, Nvidia, Marvell and STMicroelectronics have conducted larger-than-expected order cuts, and significantly delayed taking shipments from TSMC, the sources said. The pure-play foundry is also likely to suspend production of sub-7nm chips for Chinese clients or stop taking new orders from them, so as not to violate new US semiconductor trade sanctions against China, the sources remarked. TSMC has earlier indicated that its capacity utilizations for 7nm chips and non-28nm nature processes will fall further in the first quarter of 2023 before rebounding to healthy levels in the middle of next year. This has led the foundry to cut its capital expenses for 2023 and scale down its capacity expansion at its Kaohsiung fabs. Nevertheless, TSMC is still fully confident that 2023 will remain a growth year for the company, the sources said, reasoning its confidence mainly come from robust chip orders for new Apple devices as well as new orders from Nvidia and Qualcomm for new-generation GPUs and mobile SoCs, respectively, in addition to its firm hikes on foundry quotes for 2023 and strong US dollar performance. The sources stressed that Apple devices have shown strong resilience in withstanding end-market headwinds, and TSMC has secured big orders for M series SoCs for all the Mac models, as well as for new iPhone APs and new iPad chipsets in 2023, which will help to boost its capacity utilization for 5/4nm process nodes. TSMC statistics show that its revenues from serving Apple will top NT$500-550 billion (US$15.53-17.08 billion) in 2022, accounting for 25% of its annual revenue estimate of NT$2.2 trillion for the year, compared the corresponding figures of NT$405.40 billion and 26% registered in 2021. Apparently, sources said, the US vendor will continue to play a leading role in bolstering revenue performances at TSMC in 2023, given its upcoming robust order momentum for the foundry partner. digitimes.com

To: robert b furman who wrote (14741)	11/2/2022 9:58:03 AM
From: Kirk ©	1 Recommendation Recommended By Sr K Read Replies (2) \| Respond to of 26398

It looks like the "Red Wave" is not just a US phenomenon... Also, there is probably a link between the recent surge in anti-Semitism and the large influx of population from parts of the world where anti-Semitism is a national pass time if not written into their constitutions... Netanyahu says he is on brink of 'very big victory' in Israel election By Maayan Lubell 3 minute read November 2, 20226:44 AM PDT Last Updated 3 min ago Summary 85% of vote counted in fifth election in four years Netanyahu and allies on pace for majority in parliament Coalition would be one of most right-wing in Israel's history Alliance with religious, far-right parties alarms Palestinians Centrist incumbent Lapid cancels attendance at COP27 JERUSALEM, Nov 2 (Reuters) - Former Prime Minister Benjamin Netanyahu was set to return to power in one of the most right-wing coalitions in Israel's history, causing jitters among Palestinians and Arab neighbours who fear it could ratchet up tensions across the Middle East. With roughly 85% of votes counted, Netanyahu's conservative Likud and its likely religious and far-right allies were on pace to control a majority in parliament after Israel's fifth election in less than four years. "We are on the brink of a very big victory," a smiling Netanyahu told cheering supporters at his Likud party election headquarters, his voice hoarse from weeks of campaigning. Netanyahu's prospective alliance with ultranationalist firebrand Itamar Ben-Gvir has alarmed Palestinians and members of Israel's minority Arabs. Asked whether Washington shared such concerns, a White House National Security Council spokesperson declined to comment. "We look forward to continuing to work with the Israeli government on our shared interests and values,” the spokesperson added. As prime minister, Netanyahu government will likely press forward with settlement activity on occupied land where Palestinians, with international support, seek statehood. But his hard line on Iran means Israel's recently struck Gulf Arab alliances should hold firm. "No doubt the result of such a coalition will increase the hostile attitude towards the Palestinian people and make occupation measures more extreme," Bassam Salhe, a member of the Executive Committee of the Palestine Liberation Organization, told Reuters. In fresh violence, a Palestinian motorist wounded an Israeli soldier in a West Bank ramming attack before being shot dead. More reuters.com