Aixtron- und die Banken stufen fröhlich auf kaufen

Ist ja langsam krank, was da abläuft.

Okay, Aixtron profitiert stark vom durchschrittenen Tief bei LED-Nachfrage. Gut, ich hab es begriffen.

Aber

KUV09 von 4,0
KBV09 von 5,5
KGV09 von 50

Würde mich mal interessieren, welche Wachstumsraten die Banken für 2010 und 2011 unterstellen.

www.maeilnews.co.kr/mobile/article.html?no=3844

This article states the investment of Samsung in organic deposition equipment of Canon Tokki.
No words about Apeva.

Also:
"The road map for August is going to be released as soon as possible".

I wouldn't go for early conclusions here. CWL1 mentioned a necessary component is only producable with VTE and Canon Tokki was the favorite for at least that component.

Morning!

Ericsson reported stronger than expected Q2 results today. CEO sees strong momentum on 5G side of the business, even so strong that they are expanding production capacity. So 5G is clearly starting to ramp-up as an end-market - that should be positive for Aixtron in my view.

From Ericssons results: (Source: www.ericsson.com/assets/local/investors/...9/6month19-en.pdf)

"To ensure we meet customer requirements for fast and agile deliveries, we have decided to invest in a state-of-the-art 5G production site in the US to complement our global supply chain."

"5G momentum is increasing. Initially, 5G will be a capacity enhancer in metropolitan areas. However, over time, new exciting innovations for 5G will come with IoT use cases, leveraging the speed, latency
and security 5G can provide. This provides opportunities for our customers to capture new revenues as they provide additional benefits to consumers and businesses. "

Regards,
Fel

ASML reported Q2 in-line with expectations and some growth yoy (2.57bn sales; -6% yoy), however Q3 guidance slightly weaker than expected (3bn vs. 3.2bn expected) but still that shows decent growth of  +17% qoq.. indicating that we may be near the bottom.. as I also interpreted Atlas Copco's Vacuum Tech numbers (but might be wrong).
I leave the interpretation of ASML's CEO statement to CWL1, he is much more in the Tech/Application detail than I am: (Source: www.asml.com/en/investors/financial-results/q2-2019)

Current macroeconomic environment creates end market volatility resulting in industry
uncertainty. Memory customers continue to digest capacity additions in a weaker demand
environment while logic customers accelerate ramp of their new leading edge nodes

"For the remainder of the year we see further weakness in Memory, while Logic looks stronger. We expect that the increased demand in Logic will compensate for the decreased demand in Memory. The additional growth in Logic is driven by accelerated investments in 7 nm nodes and beyond.

Long term growth opportunity remains, driven by end markets growth enabled by major
innovation in semiconductors

Regards,
Fel

Futures of AMAT and LRCX are up sharply this morning in US. They are directly correlated to the wafer fab processing equipment segment. ASML makes the EUV photo lithography equipment necessary for the advanced 7nm and 5nm chip manufacturing.  Aixtron is in the semiconductor chain but more indirectly connected to ASML's segment.  Still, it is good news if AMAT and LRCX rally from ASML's latest results.

www.macrumors.com/2019/07/17/...ra-lens-supplies-202-iphones/

You get a sense that VCSEL is starting its H2 ramp..

TrueLight doing well in consumer application market for VCSEL
Siu Han, Taipei; Willis Ke, DIGITIMES Wednesday 17 July 2019 0

Taiwan-based TrueLight, dedicated to providing optoelectronics semiconductors including VCSEL components, is expected to see revenues from shipments of VCSEL devices for smartphone and optical communication applications to surge to 60% as a proportion of company revenues for the third quarter, traditionally a peak season, from 50% in the first half.

The company has been keen to develop the consumer application market for VCSEL since the second half of 2018, having entered the supply chains of major China handset vendors Huawei, Xiaomi, Oppo and Vivo, according to industry sources.

Despite impacts of the US-China trade war, TrueLight's monthly shipments of consumer VCSEL components surged stably to 25-30 million units in the second quarter of 2019 from 15 million units in the third quarter of 2018, thanks partly to handset vendors remaining keen to adopt short-wavelength VCSEL proximity sensors and partly to growing penetration of true wireless stereo (TWS) headphones.

The company's VCSEL shipments will expand further to 35 million units in July and soar to 50 million by the end of the year, the sources said.

TrueLight's short-wavelength VCSEL components can now also be applied to other market segments, including industry control, short-range transmission at 5G base stations, and data storage at datacenters.

www.digitimes.com/news/a20190717PD204.html

now hiring as of today (7/17-7/31).  Hard to believe if OVPD is not part of Samsung's game plan.


www.saramin.co.kr/zf_user/jobs/relay/...ompany_info_view#seq=0

wenn apeva samt der ovpd technologie nicht zum SD plan gehört, warum stellen sie weiter personal ein ?
gibt es zb. andere grosse display hersteller die in frage kommen ?
wenn aixtron und SD nun doch nicht zusammen kommen, würde aixtron das nicht öffentlich kommunizieren?

Especially since one of Apeva's workspaces is also the place where Samsung plans to build the new OLED line in Asan City.
Coincidence?

habe ich falsch gelesen ? meine güte, ich bin matsch im kopf. das teil macht mich kirre.

is still the largest part (>50%) of Aixtron's business and its prospect in H2 will dominate Aixtron's performance.  APEVA is important of course and Aixtron has a very good shot, but the near term financial impact is very small.  In the Q1 CC, Bernd was very cautious/conservative since the visibility on VCSEL was very limited.  Nobody new what Apple would do and he stated specifically that was waiting to see how H2 would pan out.  I believe the visibility has brightened. Apple is following Androids and making the move into TOF based on yesterday's DIGITIMES article.  We will find out the truth on 7/25.

Ich gehe von baldiger Übernahme aus, Obama ist weg, Trump nicht mehr so ganz Freund. Das hält der Ami dann nicht auf. Wer die Firma noch super findet und einen Hauch Potential sieht kann meine paar Aktien gerne zu 18,- Euro haben.
Freundschaftpreis. Es lohnt sich bestimmt!

We so far only compared VTE with OVPD to produce large OLED screens.

Just hypothetically asking: Why wouldn't they go for ink-jet printing. Is it because of the lower quality of the panels? Or what are the side-effects?


en.thelec.kr/news/articleView.html?idxno=412

This article mentioned it once and I was curious some days ago, whether the usage of ink-jet printing could be superior compared to OVPD or VTE.

P8 stated some of the issues facing ink jet printing:
www.aixtron.com/investoren/events/...320_4CMD_APEVA_final.pdf

From what I read and my limited understanding, one of the major problems is that the special organic materials used in ink jet printing need to be dissolved in solvent (liquid) and the resulting films takes long time to dry and have inferior luminescence and lifetime properties compared to those deposited under VTE and OVPD conditions which come from the evaporation of powder (solid).  However, ink jet printing of quantum dots (solid) does not have those issues apparently and is reportedly what Samsung plans to use.  Those pursuing in-jet printing for OLED are looking for low cost but lower quality and shorter-life applications.  

Thank you for your detailed answer!

Hypothetically, if we assume an investment for ink-jet and OVPD-VTE together:

Would they use the ink-jet technology to produce low-mid priced OLEDs especially against upcoming Chinese OLED products, while using OVPD to produce high priced OLEDs to attack e.g. LG's premium OLED line.

So far I am not convinced of ink-jet as longetivity is such an important factor for the consumer.

LG has taken that approach but I don't know if Samsung will.  

www.flatpanelshd.com/...?subaction=showfull&id=1554270848

www.oled-info.com/oled-inkjet-printing

keiner weiß was, viel Spekulation, der Kurs kann nach Belieben gedrückt werden, die Aktionäre schmeissen natürlich das Handtuch. Es gibt bessere Investments. So drängt man Aktionäre raus und die Aktie verkommt zu einem Spekulationsobjekt ausländischer Investoren. Schon traurig!
Das Management gibt sich konservativ, meines Erachtens ein Fehler. Dann lässt man halt den Konkurrenten den Vortritt. Da sollte man deutlich mehr in den Markt kommunizieren, die Amis wissen, wie so was geht. Bei Aix sitzt man im Elfenbeinturm, Forschungsgelder werden verschleudert und man kümmert sich eine Sch....um die Aktionäre, die Manager und Chefetage verdienen ja auch so genug.
Da kann man nur noch deprimiert werden, das macht keinen Spaß mehr.
Alkohol, in Form von Hefeweizen hilft da auch nur begrenzt noch weiter...;-)

For those interested in a different technology.

Aus dem UDC - CC Steven Abramson

"We also continue to advance our work at organic paper jet printing, our novel manufacturing process for mask-less, solvent-less, dry direct printing of large area OLED panels. We're making progress towards our next technological milestones on our path to commercialization. We believe that OVJP can revolutionize the manufacturing of large area RGB side-by-side OLED TV panels."

UDC tested solution based OLED printing with Epson but gave up. UDC lizenzed the OVPD patent use to Aixtron.

Cheers
 baggo-mh 

habe die Aktie schonmal vor Jahren bei 5 gehabt und er war echt eine zähe Angelegenheit.... ich weiss aber auch wie die Entwicklung damals bei ilungleuch schlechteren Rahmenbedingungen war - nachdem ich rausbin.
Heute ist aus meiner Sicht vieles ungleich besser. Vor allem die Zukunftsaussichten.
Der sich andeutende kurzfristige Kursverlauf ist ähnlich. Ist halt wir immer die Frage wann nach unten Schluss ist und wie hoch die Leidensfahigkeit des einzelnen ist.....  

Das sehe ich genauso.

Bin optimistisch, dass wir nach den Zahlen, wenn sich alles beruhigt hat, wieder über 8 € stehen.

Zum Ende des Jahres dann hoffentlich wieder zweistellig.

Wäre aber gut für Nerven, wenn es nicht noch viel weiter runter geht... müssen ja einige hier leiden...

Morning,

Taiwan Semi (TSMC) out with Q2 results, management signals that we have reached a bottom and hopes for recovery in H2. I think that this is largely related to iPhone shipments and should be positive for the entire supply chain/semi world. Here are some quotes from Bloomberg and link to result comments:

TSMC’s business has bottomed and should begin to rebound, Chief Executive Officer C. C. Wei said.
“We have passed the bottom of the cycle of our business, and should see our demand increase,” he told reporters in Taipei Thursday. “We see very, very strong demand” in the second half of 2019.

The typical year-end ramp up of iPhone manufacturing and a new chip-product cycle from Advanced Micro Devices Inc. could also buoy the top line. “The guidance shows that management is confident on the recovery of demand in 2H, possibly boosted by new orders from AMD,” Bloomberg Intelligence Charles Shum said.

Link to Reuters Article: www.reuters.com/article/us-tsmc-results/...ates-idUSKCN1UD0IQ

Regards,
Fel

Hier nur bedingt folgen, mein Englisch ist nicht schlecht, trotzdem schade dass sich ein Großteil der sachlichen Themen nicht auf Deutsch abspielt  

... dass er im 2. Halbjahr 2019 eine stark wachsende Nachfrage sieht

Da das sicher positiv ist, letztendlich aber auch dass der Kurs nicht weiter mit dem fallenden Gesamtmarkt abschmiert, ist für mich eher ein Zeichen dabeizubleiben.