Title Foundry: 1Q17 lull as Chinese handset brands digest inventory
  Electronic Components: DEC sales performances were mixed but in line overall
  Gaming industry: Intel 200-series motherboards will energize gaming plays
  Financials: Buy bank shares with high FCY asset exposure amid Feds upcycle
  Petrochemical: FPGs 2016 core profit was 2nd-best ever: Buy FPC, FCFC
  Netcom device: 100G switch market will see rapid widespread growth
  Bicycle industry: Inventory digestion winding down; e-bikes to fuel future growth
  Netcom devices: Small cell product global shipment to jump 40% YoY in 2017F
  Semiconductor: SEMI B/B inched up to 0.96 in NOVheres our latest Buy picks
  Financials: Outlooks for insurers, banks to strengthen on Fed rate hikes
 
More Titles
Title:Foundry: 1Q17 lull as Chinese handset brands digest inventory
Download File:Foundry industry note 170117--sinopac (2).pdf 
 
Summary:Foundry sector sales up 31% YoY in DEC: Taiwans foundry companies reported aggregate DEC sales at NT$92.85bn (-14.1% MoM, +31.1% YoY). The result exceeded our expectation thanks to sustained high UTR for mature process and expanding demand for high-end ICs. 4Q16 was slightly better than 3Q16. 5-10% QoQ sales decline likely in 1Q17: Looking into 1Q17, inventory stocking for gaming-related ICs will continue to trend up, but communication-related IC demand will slide as iPhone stocking enters a slow period and Chinese handset brands adjust their inventories amid weakening demand for handsets from emerging markets. We expect foundry sector sales to ease 5-10% QoQ in 1Q17.
  
Date:2017/01/17
Author:TaiwanResearch.com
Register online at Become Member to receive Taiwan research services. For more information, contact TaiwanResearch.com. Tel (8862) 2316-5181
©2001, 2000, 1999 SinoPac All rights reserved. Additional copyright information applies.