Weekly News
Contents
1.?Samsung Electronics: Significant Progress in HBM3E with Sales Expansion Expected in Q4.?
2.?South Korea’s October Semiconductor Exports Reach $12.5 Billion, Setting a New Monthly Record.? ?
3.?Apple's Earnings Meet Expectations, But Challenges Loom in China.? ?
4.?Intel reports over $16.6 billion in net loss in Q3; Q4 Outlook exceeds market expectations, driving the after-hours stock price up by nearly?7%.? ?
5.?SK Hynix Plans to Introduce 3D Inspection Equipment into HBM Processes.? ??? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ??
1.?Samsung Electronics: Significant Progress in HBM3E with Sales Expansion Expected in Q4.
Jaejune Kim, Executive Vice President of Samsung Electronics Memory Division, announced during the Q3 earnings call that HBM (High-Bandwidth Memory) sales saw?sequential growth of over 70% in the third quarter. Both 8-layer and 12-layer HBM3E products have entered mass production and sales, with HBM3E now accounting for about 10% of total HBM sales.
By Q4, HBM3E is expected to make up approximately 50% of HBM sales. Regarding the progress of HBM3E technology, Jaejune Kim noted that Samsung experienced some delays in supplying HBM3E to a major client but has still made meaningful progress. The company has reached a critical stage in the qualification process and anticipates expanding sales in Q4. In addition, Samsung’s development of HBM4 is on schedule, with mass production targeted for the latter half of 2025.
Comment:?Samsung Electronics' “meaningful” progress in the NVIDIA certification of HBM3E chips marks another vital breakthrough in high-bandwidth memory. The anticipated supply of HBM3E chips in Q4 will likely create further business opportunities and increase Samsung’s market share. With the development and production of next-generation HBM4 chips progressing, Samsung is well-positioned to maintain its leadership in the semiconductor sector in the coming years.?? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ??
2. South Korea’s October Semiconductor Exports Reach $12.5 Billion, Setting a New Monthly Record.??
According to the latest statistics from South Korea's Ministry of Trade, Industry, and Energy, South Korea's exports in October totaled $57.52 billion, a 4.6% increase compared to the same month last year, though a 2.12% decrease from the previous month. Thanks to solid semiconductor performance, exports have grown year over year?for the 13th consecutive month.
Semiconductor exports rose 40.3% year-over-year and reached $12.5 billion, marking a record high for October and a year-over-year increase for 12 straight months despite an 8.1% month-over-month decline. The Ministry attributes this growth to the rising demand for high-end chips driven by global companies investing in AI servers.
Both Samsung and SK Hynix, South Korea’s leading memory chip manufacturers, reported strong demand for AI-related memory products such as HBM and eSSDs in the third quarter. SK Hynix’s HBM sales grew by over 70% from the previous quarter, now representing 30% of its total DRAM sales, with expectations to reach 40% by Q4. eSSD sales also rose by about 20% quarter-over-quarter. Samsung saw over a 70% increase in total HBM sales quarter-over-quarter, with its HBM3E products now accounting for around 10% of total HBM sales, projected to reach 50% by Q4.
In terms of export destinations, exports to China rose by 11% to $12.2 billion, the highest since September 2022, while exports to the United States increased by 3.4% to $10.4 billion, achieving monthly record highs for 15 consecutive months. Exports to the European Union grew by 5.7%, reaching $5.3 billion.
The South Korean government expects exports to increase by 9% for the entire year, potentially reaching a historic high of over $700 billion.
Comment:?As a global indicator, South Korea’s semiconductor market suggests that the recovery in the worldwide semiconductor market may continue, supported by rising demand for AI computing power.
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3.??Apple’s Earnings Meet Expectations Amid Growing Challenges in China.??
According to Apple’s recent earnings report for Q4, which ended on September 28, the company achieved revenue of $94.93 billion, surpassing analysts’ forecast of $94.36 billion, marking a 6% year-over-year increase. However, due to a substantial tax repayment in Europe, net profit declined to $14.736 billion, down 36% year-over-year. Apple projects single-digit growth in sales for the December quarter, lower than analysts' 7% growth expectations.
Apple's quarterly sales in Greater China declined through 2024, falling short of $15.033 billion compared to the expected $15.8 billion and last year's $15.084 billion. China’s revenue share for Apple dropped from 16.9% to 15.9%, highlighting increased competition with local smartphone brands.
iPhone sales accounted for 48.7% of Apple’s revenue this quarter, a 5.6% increase and exceeding forecasts at over $45 billion. This segment could see a further boost in 2025, with a new iPhone SE featuring Apple Intelligence and a significant hardware upgrade planned for flagship models.
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While Apple’s latest high-end smartphone features AI capabilities, Apple Intelligence, which OpenAI's ChatGPT supports, has yet to launch in China. Reports suggest Apple has held discussions with major Chinese tech firms like Alibaba and Baidu and AI startup Baichuan to explore partnerships with local AI developers.
Apple CEO Tim Cook recently visited China, pledging future collaborations and investments. These include Apple’s newly established Applied Research Lab in the Shenzhen-Hong Kong Innovation Zone, focusing?on hardware development, smart manufacturing, and joint R&D with local suppliers. This facility, the largest outside the U.S., aims to employ over 1,000 high-level international and local experts.
Comment:?Apple has emerged slowly from its most extended sales slump in recent years. Recent quarters show a mild recovery after four consecutive quarters of declining revenue in FY2023. Despite retaining the title of the world’s most valuable company, Apple faces several challenges, including a stagnating global smartphone market, intensifying competition in China, and international regulatory pressures. Although its Vision Pro headset remains in the niche and its automotive ambitions were halted in February, Apple is preparing to re-enter the smart home market with AI and robotics-enhanced devices and is working on more affordable headset options.
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4.?Intel reports over $16.6 billion in net loss in Q3; Q4 Outlook exceeds market expectations, driving the after-hours stock price up by nearly?7%.??
Intel's third-quarter earnings report reveals revenue of $13.284 billion, a 6% year-over-year decline but a 4% increase sequentially, surpassing the $13.02 billion market estimate. On a GAAP basis, Intel recorded a significant net loss of $16.639 billion, reversing a profit of $297 million in the same quarter last year, resulting in a loss of $3.88 per share. Adjusted non-GAAP figures showed a net loss of $1.976 billion, or $0.46 per share, compared to last year's $1.739 billion profit, with an expected loss per share of $0.02.
CEO Pat Gelsinger commented, "Intel’s third-quarter results demonstrate solid progress in cost reduction, portfolio simplification, and organizational efficiency, achieving revenue above our mid-guidance range and positioning the company for sustainable future value creation."
Intel's Q3 revenue beat Wall Street expectations, and its Q4 guidance for revenue and adjusted EPS exceeded market expectations, driving the stock up as much as 15% after hours, settling at a nearly 7% gain.
Intel’s main business segments are reported as follows:
Other segments:
To further support its internal foundry model, Intel announced plans to establish Intel Foundry as an independent subsidiary.
Comment:?In recent years, the global demand for integrated circuits has continued to grow with the accelerating trends of digitalization and intelligence. As one of the world's largest semiconductor consumption markets, China's integrated circuit import and export trade has remained high. Amid the complex international environment, significant changes have occurred in the global semiconductor supply chain and industry layout.
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5.?SK Hynix Plans to Introduce 3D Inspection Equipment into HBM Processes.?
According to industry sources, SK Hynix is evaluating 3D inspection units from Korean semiconductor equipment company Nextin, marking its first application of 3D inspection equipment within the HBM (High Bandwidth Memory) production process.
The equipment inspects the state of each DRAM stack before it is integrated into HBM. SK Hynix requires this technology due to increased warping issues as individual DRAM layers become thinner. In the second half of this year, SK Hynix began transitioning from its 8-layer HBM3E products to 12-layer products. With four additional layers needing to be stacked under the same conditions as the 8-layer product, each DRAM layer must be thinned further. This process introduces significant challenges, particularly warping, as thinner DRAM layers are more susceptible to bending or other damage during wafer-to-chip cutting.
Reports suggest that SK Hynix previously used 2D equipment to inspect for warping and cracks, but 2D inspection tools face limitations in assessing the extent and precise areas of warping. Nextin’s equipment, leveraging 3D technology, can accurately detect defects within DRAM layers, significantly boosting the production yield of SK Hynix’s 12-layer HBM3E. By verifying each DRAM layer’s performance before HBM assembly, SK Hynix can improve overall yield and performance, thus enhancing supply volume.
During the Q3 earnings call, Kim Gyu-hyeon, VP of DRAM marketing at SK Hynix, confirmed that HBM customer negotiations for next year are nearly complete, with demand expected to exceed supply. If the evaluation concludes successfully, Nextin’s equipment will likely be incorporated into SK Hynix’s 12-layer HBM3E production line.
Earlier reports indicate that Samsung Electronics has ordered equipment capable of grading DRAM quality up to three levels before HBM assembly, an industry-first attempt to pre-sort DRAM chips. Samsung aims to offer customized HBM options while improving yield and production speed.
Comment:?Currently, SK Hynix leads the HBM market, with recent Q3 reports showing a 330% year-over-year increase in HBM revenue. Reports also suggest SK Hynix and Micron’s 2025 HBM production capacity is fully booked. SK Hynix anticipates continued rapid growth in its HBM business next year. Given SK Hynix’s leadership and innovation in the HBM segment, it is expected to maintain an edge over competitors like Micron and Samsung, driving substantial revenue.