반도체-삼성전자-하이닉스-마이크론

글로벌파운드리, 마이크론과 어플라이드 머티리얼즈의 상승 이유(2022.08.13)

yjsunshine 2022. 8. 13. 08:22

2022.08.13

Why GlobalFoundries, Micron Technology, and Applied Materials Soared Today | The Motley Fool

글로벌파운드리, 마이크론과 어플라이드머티리얼즈의 상승 이유.

 

KEY POINTS

  • The CHIPS Act passed this week, and the House is set to vote on the Inflation Reduction Act today.
  • 반도체법은 이번 주에 통과되었고, 하원은 오늘 인플레이션 경감법에 투표 예정이다.
  • Both bills are good news for semiconductor companies.
  • 2 법안은 반도체 주식에는 호재가 된다.
  •  
  • A report on Apple also revealed better-than-feared production plans for the upcoming iPhone.
  • 애플의 신규 아이폰 생산 계획은 걱정한 것보다 좋다는 것을 나타내었다.

 

Electric vehicles will be getting big incentives and need lots of semiconductors,

while a recent report on Apple put some market fears to rest.

 

전기차는 큰 인센티브가 있을 것이고, 전기차는 (일반차에 비해)더 많은 반도체를 필요로 한다.

최근 애플에 관한 보고서는 시장의 공포를 감소시켰다.

What happened

Shares of semiconductor-focused companies GlobalFoundries (GFS 11.89%), Micron Technology (MU 4.37%), and Applied Materials (AMAT 4.60%) were roaring higher today, up 12%, 4.3%, and 4.7%, respectively, as of 2:31 p.m. ET. 

오늘 반도체 주식인 글로벌파운드리는 11.89%, 마이크론은 4.37%, 어플ㄹ라이드 머티리얼즈는 4.60% 상승하였다.

 

There wasn't any company-specific news today for any of these stocks, although there was earlier in the week, especially for GlobalFoundries. However, broader optimism over the path of inflation, the passage of the CHIPS Act earlier this week, and today's likely passage by the House of the Inflation Reduction Act could all be helping these stocks move higher..

오늘 개별 주식에 관한 특별한 소식은 없었다.

하지만 인플레이션에 대한 광범한 낙관론과 이번 주초 반도체법 통과와 오늘 인플레이션 경감법 통과 가능성등이

이들 주식을 상승시켰다.

 

Additionally, an article on Apple's (AAPL 2.14%) iPhone production plans last night may have eased some fears around the beaten-down chip sector.

게다가 지난 밤 애플의 아이폰14 생산 계획(작년과 같은 수량인 9천만대 생산)은
반도체 섹터에 대한 공포를 경감시켰다.
 
 
 
So what

 

In conjunction with many clean energy stocks, many semiconductor stocks are on the rise today in anticipation of the House passing the Inflation Reduction Act, which provides subsidies to consumers to purchase new or used qualifying electric vehicles (EVs).

클린 에너지 주식과 함께, 많은 반도체 주식들은 오늘 인플레이션 경감법의 하원 통과 기대감에 상승하였다.

이 법은  신차나 중고의 전기차를 구매하는 소비자들에게 보조금을 공급하는 것이다.

 

That could be because electric vehicles require vastly more semiconductor content than traditional internal combustion vehicles.

이것은 전기차는 전통 자동차에 비해 매우 많은 반도체가 필요하기 때문이다.

 

According to GlobalFoundries' recent Capital Markets Day presentation, Level 2 autonomous EVs require three times the semiconductor content of traditional cars, while Level 4 autonomous EVs require six times the amount. With only 5% EV penetration in the U.S. and 8% global penetration, it's possible EVs could see a tipping point into mass adoption with the help of this bill.

 

글로벌파운드리에 따르면 레벨2의 자율주행차는 전통 자동차에 비해 3배의 반도체가 필요하고,

레벨4의 자율주행차는 6배의 반도체를 필요로 한다.

 

 

On that note, GlobalFoundries produces lots of chips on mature lagging-edge nodes that are used in EVs, such as power semiconductors. Earlier this week, it announced an extension of its long-term supply agreement with Qualcomm, which notably includes Qualcomm's auto chip platform.

 

글로벌파운드리는 전력반도체 같은 전기차에 사용되는 반도체를 성숙 공정에서 다량으로 생산한다.

이번 주초에 글로벌파운드리는 퀄컴의 자동차용 반도체 생산등을 포함하여 퀄컴과 장기 공급 계약을

연장하였다고 발표하였다.

 

The CHIPS Act, passed earlier this week, should also help GlobalFoundries. On the heels of GlobalFoundries' earnings beat on Tuesday and its Capital Markets Day for analysts on Thursday, Baird analyst Tristan Guerra reiterated the stock's outperform rating on GlobalFoundries, while keeping its price target at $100, about 50% higher than the price today.

 

Guerra believes the CHIPS Act will enable the U.S.-based foundry to expand its gross margin beyond its long-term target. In this week's Capital Market presentation, GlobalFoundries outlined an ambition for today's 27% gross margin to expand to 40% over time, while also projecting 8% to 12% annual revenue growth.

 

Memory-producer Micron also had two big announcements. First, the company guided down again for its current quarter, as the pandemic hangover in PCs continues to bite its near-term results. Citing macroeconomic worries on the part of customers, management noted a broadening of inventory adjustments that should take a couple of quarters to work through.

 

Although Micron fell on that news, it is ending the week higher. That could be due to today's optimism over the IRA, as well as this week's signing of the CHIPS Act. Following the CHIPS Act, Micron announced a $40 billion investment in leading-edge memory manufacturing in the U.S., which will take place over the course of the decade.

 

Micron is also highly sensitive to the broader economy, since its memory chips are commodity-like, with prices that fluctuate with supply and demand. Since the markets received some positive news on the inflation front on Wednesday, with month-over-month inflation at zero for the first time in a long time, many economically sensitive stocks blasted higher on renewed optimism for a "soft landing."

 

Meanwhile, all of these new manufacturing subsidies should go a long way toward boosting Applied Materials, which is the largest semiconductor equipment stock by revenue. Although the stock had fallen to start the year on fears of an economic slowdown, the passage of the CHIPS Act could lead to some redundant chip manufacturing investment in the near term, perhaps softening any potential downturn -- if one even materializes.

 

Finally, as a cherry on top of a momentous week, Bloomberg reported that Apple has told its suppliers to build at least 90 million iPhone 14 units this year. That figure would be about the same as last year, and seemed to provide a data point that smartphone demand on the high end remains resilient, in spite of fears over big declines that have plagued lower-end phone brands this year. Given Apple's size and prominence, chip companies tend to react to Apple news as well, for good or ill.

 

Now what

Semiconductor stocks had a brutal start to 2022 in anticipation of the semiconductor downturn that appears to be taking place; however, given how forward-looking this cyclical sector is, the combination of waning inflationary pressures and large manufacturing subsidies from the U.S. government this week is pointing to better times ahead.

One rule of semiconductor investing: If you wait for the slump to sell or concrete positive financials to buy, odds are you will have missed a big move in the stocks, in either direction.

 

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미 하원, 인플레 감축법 통과 - 파이낸셜뉴스 (fnnews.com)

미국 하원이 12일(이하 현지시간) 7400억달러(약 966조원) 규모의 이른바 '인플레이션(물가상승)감축법'을 통과시켰다.

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