During 1Q2014 results briefing, AMAT commented that it was seeing BROADENING of CapEx spending in 2014 – incremental buying from other (non-top-three) customers.
This seems consistent with IC Insights forecast for 2014: 4th ranked to 10th ranked clients are going to spend more.
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Three Companies to Account for 52% of Semiconductor CapEx in 2014
Samsung, Intel, TSMC with largest budgets, SanDisk and Micron with biggest increases.
By IC Insight
MARCH 20, 2014
IC Insights’ soon-to-be-released March Update to The 2014 McClean Report provides a forecast ranking of the top 25 semiconductor capital spenders for 2014. A preview of the top 10 spenders is shown in Figure 1. Samsung and Intel are each forecast to spend at least $11.0 billion this year, and TSMC slightly less than $10.0 billion. Collectively the three companies are forecast to account for 51.8% of total semiconductor industry capex this year. As amazing as that number is, it is a decrease from the 55.5% share these three companies held in 2013. Among the top 10, six companies are forecast to spend at least $3.0 billion in 2014, and nine suppliers are forecast to spend more than $1.0 billion. After keeping their combined spending essentially flat in 2013, the top 10 spenders are forecast to boost capex spending by 10% in 2014....................................................
http://www.icinsights.com/data/articles/...ts/657.pdf
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Gartner Says a Thirty-Fold Increase in Internet-Connected Physical Devices by 2020 Will Significantly Alter How the Supply Chain Operates
March 24, 2014
http://www.gartner.com/newsroom/id/2688717
(Vested)
China smartphone market to reach 422 million units in 2014, says Digitimes Research
Rodney Chan, DIGITIMES, Taipei [Wednesday 26 March 2014]
Demand in China's smartphone market is expected to reach 422 million units in 2014, with 278 million units contributed by China-based vendors, according to the latest Digitimes Research Special Reprort, "2014 China Smartphone Market and Industry - Forecast and Analysis."
The continued expansion by international vendors Samsung and Apple will push up their sales to almost 144 million units in the China market, growing nearly 4% from 2013.
As competition in the local market heats up, China-based vendors are turning to overseas markets in order to maintain their shipment volumes, especially taking an aggressive approach to penetrating emerging markets, which hold higher barriers for overseas vendors to enter, according to the Digitimes Research Special Report.
The outlook for the 2014 China domestic smartphone market is that fewer local brands will remain to compete in the market. With the general enhancement of software-hardware specifications in 2013, brand-building and channel management have become the key to sustainability. Vendors without the advantage of substantial product differentiation will face the challenge of being eliminated in the short term. On the other hand, local vendors need to deal with inventories with discretion to counter the vigorous attacks initiated by international vendors in the domestic market.
In terms of the China smartphone industry, Digitimes Research expects global shipments of China-based smartphone vendors to reach 412 million units in 2014, a 30.7% increase from 2013. Overseas shipments will account for about 126 million units. While shipments to mature markets are expected to grow on a small scale, shipments to emerging markets are expected to expand at strong rates, mainly due to the low base they are starting from.
In the forecast for shipments from different vendors in 2014, Lenovo and Huawei are expected to reach 50 million units. Huawei has been engaged in overseas markets for a long time so its export portion outweighs Lenovo's. ZTE's and CoolPad's shipments are expected to reach 35.5 million units. TCL has shown a significant growth in exports with shipments expected to exceed 26 million units in 2014, ranking No. 5 on the list. Second-tier vendors Gionee and Xiaomi are expected to ship 20 million units.
http://www.digitimes.com/news/a20140326VL200.html
(vested)
(28-03-2014, 05:37 PM)Nick Wrote: [ -> ]UMS proposes bonus issue of 1 bonus share for 4 existing shares:
http://infopub.sgx.com/FileOpen/UMS%20An...eID=288776
UMS closed at 77.0 cents.
(Vested)
Hi Nick, what is your view? It doesn't add value so the intention is merely to add liquidity right? Or is there an intention to make existing shareholders to buy more so as to avoid end up in odd lots?
(28-03-2014, 07:10 PM)valuebuddies Wrote: [ -> ] (28-03-2014, 05:37 PM)Nick Wrote: [ -> ]UMS proposes bonus issue of 1 bonus share for 4 existing shares:
http://infopub.sgx.com/FileOpen/UMS%20An...eID=288776
UMS closed at 77.0 cents.
(Vested)
Hi Nick, what is your view? It doesn't add value so the intention is merely to add liquidity right? Or is there an intention to make existing shareholders to buy more so as to avoid end up in odd lots?
Technically, this is just a share split but for some reason, the local market tend to react favorably to bonus share issues in the past. I cannot understand why besides the increase in trading liquidity. One can also avoid odd lots by selling shares.
(Vested)
(28-03-2014, 07:21 PM)Nick Wrote: [ -> ] (28-03-2014, 07:10 PM)valuebuddies Wrote: [ -> ] (28-03-2014, 05:37 PM)Nick Wrote: [ -> ]UMS proposes bonus issue of 1 bonus share for 4 existing shares:
http://infopub.sgx.com/FileOpen/UMS%20An...eID=288776
UMS closed at 77.0 cents.
(Vested)
Hi Nick, what is your view? It doesn't add value so the intention is merely to add liquidity right? Or is there an intention to make existing shareholders to buy more so as to avoid end up in odd lots?
Technically, this is just a share split but for some reason, the local market tend to react favorably to bonus share issues in the past. I cannot understand why besides the increase in trading liquidity. One can also avoid odd lots by selling shares.
(Vested)
That would be me, 1 lot down tomorrow
overall, this news shd be favourable. U can buy more before ex bonus to avoid having odd lots.
Otherwise just sell if u feel share is overprice.
No hurry at all, still a long way to go...
Vested
3. RATIONALE FOR THE PROPOSED BONUS SHARE ISSUE
The Company is considering the Proposed Bonus Share Issue to increase the issued share capital base of the Company to reflect the growth and expansion of the Group’s business, and to give due recognition to its shareholders for their continuing support for the Company at the same time. The Proposed Bonus Share Issue, if carried out, will also increase the accessibility of an investment in the Company to more investors, thereby encouraging trading liquidity and greater participation by investors and broadening the shareholder base of the Company.
So after the bonus issue, for 1Q, 2Q and 3Q, does one expect Mr. Luong to declare 0.8 cent dividend per share ?
Technically, it would be the same but ..........."literally" it means a "reduction" from 1 cent to 0.8 cent........that would not reflect too good on the growth and expansion of the Group's business, would it ?
Or is he hinting something?
Or am I only dreaming?
(vested)
How about this scenario whereby he wants to increase dividend per quarter to 1.2 cents to reflect the growth and expansion of the Group’s business but wants to maintain the dividend at 1 cent a quarter, hence this bonus issue exercise?