Industry status
1) Global semiconductor storage giant micron (mu. O) announced fy22q1 (i.e. 21q4 of natural year) financial report: the revenue in the latest fiscal quarter was USD 7.687 billion, with a year-on-year increase of 33.2%, and the year-on-year growth rate exceeded 30% for four consecutive quarters, but decreased by 7.1% month on month due to shortage of parts; GAAP gross profit margin was 46.4%, with a year-on-year increase of 16.4 percentage points; GAAP net profit was USD 2.306 billion, with a year-on-year increase of 187.2%, and the year-on-year growth rate exceeded 100% for three consecutive quarters.
2) Sk Hynix's acquisition of Intel (INTC. O) NAND business was officially approved.
This week's view
Global semiconductor storage giant micron announces fy22q1 (i.e. 21q4 of the natural year) financial report: the revenue in the latest fiscal quarter was USD 7.687 billion, with a year-on-year increase of 33.2%, and the year-on-year growth rate exceeded 30% for four consecutive quarters, but decreased by 7.1% month on month due to the shortage of parts; GAAP gross profit margin was 46.4%, with a year-on-year increase of 16.4 percentage points; GAAP net profit was USD 2.306 billion, with a year-on-year increase of 187.2%, and the year-on-year growth rate exceeded 100% for three consecutive quarters. According to the market, the latest quarterly The center's revenue increased by more than 70% year-on-year. Due to the strong demand for cloud computing and the recovery of enterprise IT investment, the data center has become the market with the largest storage demand. In terms of PC, lpddrdram accounts for 20% of pcdram, and will become the main shipment in the next five years. Ddr5 business recorded revenue for the first time in this quarter, and it is expected that the shipment will account for 20% of DRAM next year. The revenue of mobile phone business increased by more than 25% year-on-year, the demand for 5g mobile phones increased by 50% compared with that of 4G mobile phones, and the demand for NAND doubled. The revenue of video memory business increased month on month and year-on-year, and the demand for video cards was strong. The revenue of automobile business increased by 25% year-on-year. In 2022, high-end L3 electric vehicles will be equipped with 140gdram and 1tbnand specifications. In this quarter, the revenue of automobile and industry accounted for more than 10%.
This week, the official website of the antimonopoly Bureau of the State Administration of Market Supervision issued the announcement of the State Administration of market supervision on Approving the antimonopoly review decision of SK Hynix Co., Ltd. in the case of acquiring part of Intel's business with additional restrictive conditions. The announcement said that the State Administration of market supervision received the operator concentration antitrust declaration of SK Hynix Co., Ltd. in the case of acquiring part of Intel's business. After examination, the State Administration of market supervision decided to approve the concentration with restrictive conditions.
Investment advice
It is recommended to allocate leading us semiconductor companies for a long time, and it is recommended to pay attention to the related subjects of semiconductor data center.
Risk statement
The production capacity is lower than expected; Demand downside risk; The epidemic has a great impact on the supply chain
