w********2
发帖数: 16371 | 1 Apple Squeezes Chip Cos, Says Piper; May Be a Silver Lining Yet
By Tiernan Ray
Piper Jaffray semiconductor analyst Gus Richard this morning offered the
latest evidence of the Apple (AAPL) effect, the outsized influence the
company maintains over various markets.
Writes Richard, Apple is “squeezing its suppliers,” a fact that is “
decimating the semiconductor industry,” in his view.
The squeeze comes via a couple of different avenues, in Richard’s view. One
is simply that the iPad, as a highly volume alternative to the PC, is “
reducing the overall growth of the chip industry.”
Another Apple squeeze is simply that its hard to find growth if one is not
selling to Apple.
But third, and perhaps most novel in the report, Richard thinks some
anecdotal evidence that Apple is actually driving a very hard bargain with
chip suppliers:
First, we believe that one of the reasons Intel (INTC) and Apple could not
reach an agreement on a foundry relationship was because they could not
agree on wafer pricing. Second, we believe Samsung [Electronics (005930KS)]
supplies very little flash to Apple and this is improving the company’s
profitability in this market. We hear from other small suppliers that Apple
demands onerous terms. In addition, the iPad is cannibalizing the PC market.
An iPad contains 1GB DRAM versus 4GB for a PC, and the DRAM market is
contracting. We also estimate that CPUs going into iPads will generate
roughly $500M in revenue for Samsung. If those tablets were low- end
notebooks, Intel’s revenue would be at least $2.5B.
Oddly enough, the squeeze, as it were, could ultimately be a boon to the
chip industry, to the extent that it clears the market of some supply and
sets up for a different kind of squeeze down the road:
Semiconductors are a capital intensive business with fabs that cost over $5B
and process development costs that continue to escalate. A couple of years
of under investment will ultimately set up a shortage of capacity, driving
an increase in pricing for commodity chips in particular. This economic
cycle is typically 2-3 years up and 2-3 years down. We are just entering the
downward phase or what we refer to as nuclear winter, but this too shall
pass. | s****c
发帖数: 11300 | 2 芯片厂商就不长点骨气 不给apple做芯片了 咱们生产线宁可闲置 | w********2
发帖数: 16371 | 3 你看这里说的问题不光是谁做什么，而是整个post PC把大家在芯片上的消费减少了。
因为其实内从大家用不着那么多。。
【在 s****c 的大作中提到】
: 芯片厂商就不长点骨气 不给apple做芯片了 咱们生产线宁可闲置
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