Nov 6, 2020

351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1, These six tech stocks could fuel a market breakout, Oil sands vs. renewables: Where Canadian banks are putting their dollars, Eleven U.S. energy stocks poised to withstand oil-price volatility, Unchecking box will stop auto data updates, Due to technical reasons, we have temporarily removed commenting from our articles. If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. LRCX has around 13.4M shares in the U.S. ETF market. Revenue and profit estimates for the semiconductor industry continue to ratchet lower, amid a range of both supply-chain and demand issues. Taiwan Semiconductor And the same process is under way for the chip equipment makers that serve them. This morning, UBS chip analyst Timothy Arcuri reset estimates for his entire coverage universe, which includes all of the major chip and equipment companies. Write to Eric J. Savitz at Calendar 2020 revenues, he says, will be off 15%-20% from pre-virus estimates. His bullish stance on Lam reflects the company’s out-sized exposure to the memory sector. ... a China trade war that has morphed into a China … If you would like to write a letter to the editor, please forward it to He also upgrades Welcome to The Globe and Mail’s comment community. Last, we ranked companies by multiplying their exposure to the Chinese market by their “excess returns” – that is, their overperformance compared with the S&P 500, which had a total return of 2.4 per cent during this period. The companies listed here were the top 15 based on this calculation. FactSet assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained here. But he adds that comparisons are easier this time, coming off a weak 2019, especially for memory chips. [])-[])). Western Digital Corp., a disk-drive and data storage company, topped our ranks owing to its outperforming the S&P 500 by 22.1 per cent with 23.2 per cent of its overall revenue exposed to China. (KLAC) and He adds that “computer” related stocks— Micron. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter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actSet’s superior suite of content, analytics and workflow solutions covers the entire portfolio life cycle and offers actionable insights for asset managers and investment professionals around the world. Thank you for your patience. [])), +((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+[])+(!+[]+(!![])+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![])+(+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![])+(+!![]))/+((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+[])+(!+[]+(!![])-[])+(+!![])+(!+[]+(!![])-[])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![])+(+!![])+(+!![])+(!+[]+(!! The information in this article is not investment advice. He writes that his new base case is for a 20% drop in semiconductor revenues through the September quarter with a gradual recovery to parity by June 2021. Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. He also shifted some ratings around. Welcome to The Globe and Mail’s comment community. Its strong performance may in part be a rebound after the oil field services giant suffered a decline in its share price after its Aug. 1 earnings call, when the stock went from US$25.27 to US$20.27 in a matter of two weeks. This is a space where subscribers can engage with each other and Globe staff. This copy is for your personal, non-commercial use only. We limited our universe to companies that have outperformed the S&P 500 over this time frame to identify companies that may have benefited from positive developments in the U.S.-China trade relationship, bearing in mind correlation does not necessarily mean causation. We aim to create a safe and valuable space for discussion and debate. The United States and China confirmed their agreement on a Phase 1 trade deal on Dec. 13. Fourteen of the top 15 companies by our ranking were classified as technology companies. ... Lam Research, Micron, Applied Materials and Broadcom all … We then applied filters to narrow our universe to companies with at least 10 per cent revenue generated from China utilizing FactSet GeoRev, a proprietary database that breaks down company revenues geographically. We examined U.S. companies connected to the Chinese market based on revenue exposure and stock price performance. But he sees risks for smartphone-related stocks, and weakness in the automotive chip sector. Lam Research Your browser will redirect to your requested content shortly. 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That means: Comments that violate our community guidelines will be removed. Previously, she led Investor Relations and Corporate Communications since September 2018 and was vice president, chief of staff–office of the CEO of Lam Research from April 2017 to September 2018. ) Arcuri notes that revenue for the semiconductor industry fell 35% in two quarters during the 2008-09 downturn, and took three quarters to fully recover. (LRCX) to Buy from Sell and on Sales of semiconductor equipment are forecasted to increase by 10.8% to $62.7 billion in 2018. Given the multiple complex factors at play, including the impact of the U.S.-China trade war and the more recent coronavirus outbreak, we decided to investigate how U.S. companies with the largest geographic revenue exposure to China have performed and see which companies may be likely to benefit from any improvement in news headlines coming from China. He writes that Applied has growing exposure to memory, though he is concerned about the company’s display business, and he sees risk in its large exposure to the contract chip manufacturer Revenue and profit estimates for the semiconductor industry continue to ratchet lower, amid a range of both supply-chain and demand issues.

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