Tall Tong Declaes the split business to trigger the market. Although the eight characters have not yet, Wall Street has been busy with the Qualcomm pickup, and the Samsung Electronics will be taken out of the high-pass wafer sector, but some analysts believe that Intel and Qualcomm wafer are the sky of the sky, the arches of two Guanyan.
Reuters, Barron's Finance website reported 23rd, Cowen and Co., analyst Timothy Arcuri Directly, Intel married Qualcomm wafer was the ultimate wafer acquisition; in this way, Intel's smart machine wafer is finally expected, Get into the important Chinese market. He estimated that after Qualcomm wafer business was independent, the stock price was about $ 20, about 1/3 of Qualcomm current stock price, and Intel may acquire $ 25 per share. Ascendiant Capital Markets analyst Cody Acree also endorsed the two owners to send the bodies, saying that the M & A can put Intel pushed the leadership position, the company's operational center of effort is urgently needed to cross the PC (PC).
The acquisition is not only beneficial Intel, Qualcomm is also beneficial. Qualcomm faces the low-cost competition of UNAV (2454), gradually lost the market; Snapdragon 810 processor lost Samsung electronic order, and also deepened the operational difficulties. Qualcomm and Intel teamed up with Intel Walans to produce wafers, low cost, and prices will be more competitive. However, if this is true, for Taiwanese operators, it may be a major blow, which means that not only the power of the power is lost, and the United Kingdom will lose the big customers, and the United Kingdom also needs to face more intense competition.
It is worth noting that Qualcomm will not split the wafer and the patent authorization department. Most analysts seem to think that the segmentation is not big, they say that the company is divided into two. Qualcomm relies on the profits of patents, draws the wafer business, and segmented the wafer business, and wants to be independent of their own independence. Arcuri pointed out that after the wafer sector lost the golden girl, the R & D expenditure was difficult to lengthen a big lead.
Bernstein Research's Stacy Rasgon is more painful, and Qualcomm segmentation is unable to destroy the company value. Christopher Rolland, FBR & Co., Gaartong's announcement is just a delay tactics so that from the Radical Investor Jana Partners, the final split will still be returned.
Qualcomm wafers pursuits are numerous, and maybe objects except Intel, as well as Samsung Electronics and land. Barron 23rd quoted Maybank's Warren Lau report that the split Qualcomm wafer career is difficult to compete with Liaotai (2454), and more feasible practices are combined with Intel, Samsung and other strong people. Samsung has made great progress in the action processor this year, but MODEM, mobile radio frequency (RF), graphics processors, etc., the integration capacity is also poor.
Qualcomm operation hit the iceberg, the TSM will be dragged down; because Qualcomm is a TSMET, 20% revenue revenue is contributed last year. Lau said that the high-level generation high-end action processor "Snapdragon 820" has turned Samsung, using a 14-nanometer process; if the Snapdragon 820 performance is as expected, TSMC is equal to the chance of profit. At the same time, due to the weak demand, too many inventories, Qualcomm may once again cut the 28-nanometric order to Terrace. Worse, in case the high-pass wafer really falls into the Samsung or Intel's hand, the impact of the Power of Taiwan will be extremely strong. Lau said that he does not want this happening, but Qualcomm 10/14 nanometers will be a Samsung, which is an unfavorable sign.
Related reading:
Qualcomm2.0 fast charging technology is applied to ZTE AXON Tiamatinal charging speed increased by 75%
Qualcomm Snapdragon 820 re-exposure: The main frequency 3GHz is still hot
Qualcomm chips can not be sold, take it to Microsoft to do low-end Win10 mobile phones
Samsung Qualcomm and good? Pass S7 or use Snapdragon 820 processor
Our other product:
