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SemiWEEK: Coronavirus Impact Assessment and Samsung’s EUV strategy; Stocks jump

Spring is here, but caution abounds. Order activity for semiconductor equipment bounced back after taking a breather last week. The Coronavirus will likely impact the IC market in February and March, but it should not affect IC industryu2019s annual results as long as it is contained.

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SemiWEEK: Coronavirus Impact Assessment and Samsung’s EUV strategy; Stocks jump

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  1. Semiconductor WEEK: February 14, 2020 An overview of results and conclusions from recent reports at VLSI Chip Market Research Services Spring is here, but caution abounds • Order activity for semiconductor equipment bounced back after taking a breather last week • Production and Capacity Plan Semiconductor Analytics Semi Market results from last week: Semiconductor sales slipped back under 2019’s. Semiconductor Sales Nowcast: 1Q20/1Q19 Improved to +8% – Semiconductor Weather1Report: Sunny & Warming – IC Supply-Demand2Metrics: Tightened back to shortages – Electronics Price Trend: Declining Overall Semi Sales Status Trend: Peaked: Mar 18 Cold with Dark Clouds: Sep 18 Freezing: Nov 18 Frozen: Jan 19 Freezing: Mar 19 Cold: May 19 Cool: July 19 Temperate: Oct 19 Sunny: Nov 19 Warm: Dec 19 Sunny: Feb 20 Chip History Center IBM’s development of copper interconnect for ICs: IBM was first with copper interconnect for semiconductors. Intel: 50 Years of Leadership: Six people have held the title of CEO over the first fifty years of Intel’s existence. The Chip Insider Strategy and Tactics: Coronavirus Impact Assessment and Samsung’s EUV strategy Semiconductor Stocks • VLSI’s Semiconductor Stock Indices jumped – Three indices and S&P 500 hit new yearly highs • Semiconductor Stock Index led up by NVIDIA • Semiconductor Equipment Stock Index was led up by Veeco Instruments • EDA Stock Index was led up by Cadence • Electronics Materials Stock Index was led up by Cabot Microelectronics • Hottest Stocks: Veeco Instruments, NVIDIA, JCET, Amkor, AMD, and ASM International VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  2. The Chip Insider®'s Graphics File January 2020 Spring is here, but caution abounds • Order activity for semiconductor equipment bounced back after taking a breather last week • The Coronavirus will likely impact the IC market in February and March, but it should not affect IC industry’s annual results as long as it is contained • The Chip Price Performance Index (CPPI) jumped higher Forecast as of January 2020: Semi Equipment ($B): Sequential Change Capacity Utilization: ICs ($B): Sequential Change IC Units (BU): Sequential Change Electronics ($B) : Sequential Change 2019 75.7 $ -9.5% 84.5% 352.2 $ -13.4% 299.4 -6.0% 2,122 $ -2.0% 2020 79.2 $ 4.7% 87.8% 384.5 $ 9.2% 322.9 7.8% 2,255 $ 6.3% This issue contains the latest forecast. Call us to access more details VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  3. The Chip Insider®Graphics Production and Capacity Plan: • Planned additions are edging higher Production and Capacity Plan: chart gives rolling averages for semiconductor production, currently active capacity and current plus planned capacity in millions of square inches of silicon wafers. VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  4. Semiconductor Analytics Last Week in the Semiconductor Market: W/W: Week-over-Week sequential growth W/Q: Week-over-Quarter W/Y: Week-over-Year Semiconductor sales slipped back under 2019’s for the week ending 7 Feb. This was mostly due to DRAM weakness. Coronavirus Watch: IC sales declined deeper last week than in past pandemics. Results were also influenced by the Lunar New Year. Semiconductor Sales Nowcast: 1Q20/1Q19 Improved to +8% Semiconductor Weather1Report: Sunny & Warming IC Supply-Demand2Metrics: Tightened back to shortages Electronics Pricing Trend: Declining Thank you for supporting us through this last issue of 2018. Semiconductor Analytics will return January . Overall Semi Sales Status Trend: Peaked: Mar 18 Cold with Dark Clouds: Sep 18 Freezing: Nov 18 Frozen: Jan 19 Freezing: Mar 19 Cold: May 19 Cool: July 19 Temperate: Oct 19 Sunny: Nov 19 Warm: Dec 19 Sunny: Feb 20 1: Measures Order Activity 2: Measures Pricing Power VLSIresearch … intelligence to make better decisions faster 4 Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  5. Semiconductor Market: Aggregate Comps • Integrated Circuit sales growing off of an upward 2019 channel • Certainties: – China – 5G: Smartphone, Auto, Industrial – Win 7 EoL refresh – 7/10nm and 5/7nm demand ramps – Memory Price Elasticity • Uncertainties: – Coronavirus Pandemic – China Slowdown – Federal Reserve pulling punchbowl from party in January – 2020 Elections in U.S. VLSIresearch … intelligence to make better decisions faster 5 Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  6. The Chip Insider® Strategy & Tactics Strategy and Tactics: Coronavirus Impact Assessment and Samsung’s EUV strategy. Summaries: Maxims Applied: Samsung’s EUV strategy to capture the 3nm foundry market Coronavirus Impact Assessment: Now the easy way to address this threat would be to look at what China’s share of various markets should be in 2020 and assume the worst. There’s a lot on the line when it comes to electronics demand in China, as well as semiconductors, assembly equipment, test equipment, and WFE. That’s not to mention all the other products made there that could damage their economy, as well as others that rely on it as a critical part of their supply chain. So, it’s easy to see a market Armageddon if these numbers went to zero or even cut in half. Here are some comparisons from other pandemics and reasons to show why it probably won’t be bad for the semiconductor industry. The Chip History Center: The Perkin Elmer Micralign Projection Mask Alignment System “History never repeats itself but it often rhymes.” —as Mark Twain is reputed to have said What’s Happening and What’s the Meaning:Dr. C. C. Wei at TSMC on 5G and Coronavirus takes its first hit on semiconductors. Comments, Questions & Answers: Dark Forecasts — what can the SARS epidemic tell us about 2020’s prospects. Contact us to get the full report and more VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  7. semiStockWEEK: VLSI's Semiconductor Stock Indices jumped this week with three indices and the S&P 500 hitting fresh new yearly highs. Semiconductors 4%, Equipment 5%, EDA 6%, Electronic Materials 1%. VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  8. Semiconductor Stocks: Weekly Growth and Forward P/E Ratios by Company Weekly Gains 2/14/2020 VLSI’s Semiconductor Stock Index was led up 3.9% by NVIDIA followed by JCET, Amkor, and AMD. IDM 3.7% Foundry & OSAT 5.3% Fabless & Fablite 4.0% Price Change Price Change Forward P/E Forward P/E Semiconductor Stocks Semiconductor Stocks IDM Intel Micron ON Semiconductor Samsung Electronics SK hynix STMicroelectronics Western Digital Fab-lite to Fabless AMD Analog Devices Broadcom IBM Infineon MagnaChip Semiconductor Maxim 1.9% 2.8% 4.8% 2.3% 5.2% 5.5% 3.3% 13 10 12 35 21 12 11 22 20 24 11.2% 4.8% 0.8% -1.8% 2.0% 5.0% 1.6% – AMD AMDAnalog Devices ADIAmkorAMKR ASE ASXBroadcom AVGOIBMIBM Infineon IFNNY.PK Intel INTCJCET600584.SS Kingpak Technology6238.TWO Micron Technology MU On Semiconductor ONPanasonic PC MagnaChip Semiconductor MXMaxim MXIM MaxLinear MXLMediaTek 2454.TW NVIDIA NVDAQualcomm QCOM Samsung Electronics 005930.KS Silicon Laboratories SLABSkyworks SWKS SMIC SMI STMicroelectronics STM Texas Instruments TXNTSMC TSMUMC UMCWestern Digital WDCXilinx XLNX 18 9 Foundry & OSAT MaxLinear 1.4% 20 Amkor 11 MediaTek 14.0% 6.4% – ASE 3.4% 11 NVIDIA 33 15.2% JCET Kingpak Technology 95 Panasonic Qualcomm -1.7% 2.5% 14 15 14.5% 6.2% – SMIC TSMC UMC -6.3% 3.6% 1.9% 1626 17 10 Silicon Laboratories Skyworks Texas Instruments Xilinx 27 15 23 27 4.2% 4.4% 2.7% 5.3% VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  9. Chip Equipment & Related Stocks: Weekly Growth and Forward P/E Ratios by Company VLSI’s Semiconductor Equipment Stock Index was led up 5.3% by Veeco Instruments. WFE 7.0% Test 3.6% Assembly 2.0% Weekly Gains 0 2/14/2020 Price Change Price Change Forward P/E Forward P/E Equipment Stocks Equipment Stocks Wafer Process: Applied Materials ASM International ASML KLA Test: Advantest Teradyne FormFactor 14 22 28 16 8.3% 10.5% 3.7% 6.8% 4.2% 1.0% 5.5% – 19 22 Applied Materials AMAT Advantest ATEYY ASM International ASMI ASM Lithography ASML ASM Pacific 0522.HK BE Semiconductor BESIY.PK FormFactorFORMKLA KLAC Kulicke & Soffa KLIC Lam Research LRCX Onto Innovation ONTONikon 7731 Teradyne TER Tokyo Electron Limited 8035 Veeco VECO Lam Research 17 Assembly: 7.6% Onto Innovation Nikon 2.8% -10.0% BESI Kulicke & Soffa 2.2% 0.5% – – 12 – TEL Veeco Instruments ASM Pacific Technology 3.2% 5.5% 27.5% – 16 VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  10. Electronic Materials Stocks: Weekly Growth and Forward P/E Ratios by Company Weekly Gains EDA & Electronic Materials Stocks EDA Cadence Synopsys Electronic Materials BASF Cabot Microelectronics VLSI’s EDA Stock Index was led up 6.5% by Cadence. 2/14/2020 Price Change Price Change -3.1% 1.0% -0.1% -0.6% 2.2% 2.2% EDA & Electronic Materials Stocks DNP DuPont JSR Shin-Etsu SOITEC Tokyo Ohka Forward P/E Forward P/E VLSI’s Electronics Materials Stock Index was led up 0.6% by Cabot Microelectronics. – 4 30 28 7.1% 5.9% – BASF BASFY Cadence CNDS DNP 7912 JSR 4185 SOI.PA Synopsys SNPS Cabot Microelectronics CCMP DuPont DD Shin-Etsu 4063 SOITEC Tokyo Ohka 4186 – -0.6% 3.9% 3 20 – – VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

  11. Companies Companies Max Growth Weekly Growth VLSI’s Indices of Chip Industry Stocks Min Growth Range of S&P 500 S&P 500 The Prior Week's Close Growth Growth Down Up Semi Stocks Equipment Stocks Materials Stocks EDA Stocks Semi Stocks Equipment Stocks Materials Stocks EDA Stocks 12-Jul-19 19-Jul-19 26-Jul-19 02-Aug-19 09-Aug-19 16-Aug-19 23-Aug-19 30-Aug-19 06-Sep-19 13-Sep-19 20-Sep-19 27-Sep-19 04-Oct-19 11-Oct-19 18-Oct-19 25-Oct-19 01-Nov-19 08-Nov-19 15-Nov-19 22-Nov-19 29-Nov-19 06-Dec-19 13-Dec-19 20-Dec-19 27-Dec-19 03-Jan-20 10-Jan-20 17-Jan-20 24-Jan-20 31-Jan-20 07-Feb-20 14-Feb-20 83.1 83.5 86.1 81.3 79.6 79.7 78.6 81.2 84.7 87.6 85.4 83.6 84.6 86.0 86.2 88.2 90.3 91.7 92.0 90.0 90.9 92.6 96.7 99.2 100.0 100.3 101.5 104.7 106.1 98.4 102.5 106.5 85.8 85.9 88.9 86.5 86.0 85.0 85.7 87.7 91.2 95.8 94.5 93.8 93.1 95.0 97.5 100.0 101.2 103.2 101.5 98.7 96.7 95.5 100.0 100.1 100.0 98.9 99.2 101.0 100.5 96.0 100.4 101.0 101.7 99.4 102.2 96.3 96.2 94.9 95.4 99.0 101.4 94.3 95.0 94.7 96.0 96.0 94.5 94.9 94.8 96.1 97.6 95.9 100.1 95.5 96.9 99.6 100.0 100.5 104.7 106.4 107.8 103.8 107.2 114.2 2.8% 0.5% 3.1% -5.5% -2.1% 0.1% -1.3% 3.2% 4.3% 3.5% -2.6% -2.1% 1.1% 1.7% 0.2% 2.4% 2.4% 1.5% 0.4% -2.2% 1.0% 1.8% 4.5% 2.6% 0.8% 0.3% 1.2% 3.2% 1.3% -7.3% 4.2% 3.9% -0.2% 3.2% 9.1% -4.6% -3.6% 0.5% -0.8% 1.5% 4.6% 5.2% 1.3% -1.1% 1.1% 2.3% 0.3% 6.6% 0.2% 2.5% 2.1% -5.1% 1.8% 1.1% 3.5% 1.9% 0.1% 0.2% 0.7% 3.9% 0.3% -6.3% 2.9% 5.3% -1.1% 0.2% 3.4% -2.7% -0.5% -1.2% 0.8% 2.4% 4.0% 5.0% -1.3% -0.7% -0.8% 2.0% 2.7% 2.5% 1.3% 1.9% -1.6% -2.8% -2.0% -1.2% 4.7% 0.1% -0.1% -1.1% 0.2% 1.8% -0.5% -4.5% 4.6% 0.6% 1.2% -2.3% 2.9% -5.9% -0.1% -1.4% 0.6% 3.8% 2.5% -7.0% 0.8% -0.4% 1.4% 0.0% -1.5% 0.4% -0.1% 1.3% 1.6% -1.8% 4.4% -4.6% 1.5% 2.7% 0.4% 0.5% 4.2% 1.7% 1.3% -3.8% 3.3% 6.5% 30 35 47 6 13 25 19 45 53 45 19 16 34 35 28 46 36 37 31 7 37 33 48 39 29 23 32 45 29 3 45 47 14.0% 10.5% 28.2% 8.3% 16.1% 8.7% 6.6% 7.3% 10.2% 17.1% 5.7% 3.7% 10.1% 9.0% 11.2% 15.6% 9.9% 12.5% 10.8% 5.7% 5.0% 8.2% 10.7% 12.5% 5.9% 9.5% 7.2% 19.1% 14.9% 2.2% 21.4% 27.5% -21 -18 -7 -47 -39 -28 -35 -9 -1 -8 -35 -37 -20 -15 -23 -7 -15 -14 -20 -44 -14 -19 -3 -13 -23 -24 -22 -10 -25 -51 -10 -8 -3.9% -6.9% -6.4% -13.5% -14.5% -8.8% -9.5% -6.6% -2.8% -7.5% -8.3% -12.1% -3.5% -4.4% -6.0% -16.3% -12.1% -4.2% -5.0% -17.7% -15.0% -4.8% -1.4% -8.4% 2.7% -3.4% -4.8% -3.8% -10.8% -17.7% -11.7% -10.0% 17.9% 17.4% 34.6% 21.8% 30.6% 17.5% 16.1% 13.9% 13.0% 24.6% 14.0% 15.8% 13.6% 13.4% 17.2% 31.9% 22.0% 16.7% 15.8% 23.4% 20.0% 13.0% 12.1% 20.9% 8.6% 12.9% 12.0% 22.9% 25.7% 19.9% 33.1% 37.5% 93.0 91.9 93.4 90.5 90.1 89.2 87.9 90.3 91.9 92.8 92.3 91.4 91.1 91.7 92.2 93.3 94.7 95.5 96.3 96.0 96.9 97.1 97.8 99.4 100.0 99.8 100.8 102.8 101.7 99.5 102.7 104.3 0.8% -1.2% 1.7% -3.1% -0.5% -1.0% -1.4% 2.8% 1.8% 1.0% -0.5% -1.0% -0.3% 0.6% 0.5% 1.2% 1.5% 0.9% 0.9% -0.3% 1.0% 0.2% 0.7% 1.7% 0.6% -0.2% 0.9% 2.0% -1.0% -2.1% 3.2% 1.6% 72.4 74.6 81.5 77.7 74.9 75.2 74.7 75.8 79.3 83.4 84.5 83.6 84.4 86.4 86.7 92.4 92.6 94.9 97.0 92.0 93.7 94.7 98.0 99.9 100.0 100.2 100.9 104.8 105.1 98.4 101.3 106.6 VLSIresearch … intelligence to make better decisions faster Copyright © 2020 VLSI Research Inc. All rights reserved. Distribution rights contained in T&Cs.

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