A Positive Outlook on Semiconductors Exposed to LED, Data Storage Industries: An Interview with Daniel L. Amir, Managing Director and Senior Research Analyst at Lazard Capital Markets

Wall Street Transcript

67 WALL STREET, New York - October 7, 2013 - The Wall Street Transcript has just published its Semiconductors Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Cloud Computing - Mobile Device Consumer Demand - Enterprise Data Storage Demand - Energy Efficiency, Cloud Computing and Telecommunications

Companies include: SanDisk Corp. (SNDK), LSI Corporation (LSI), Marvell Technology Group Ltd. (MRVL), Micron Technology Inc. (MU), Western Digital Corp. (WDC), STEC, Inc. (STEC), Intel Corporation (INTC), Texas Instruments Inc. (TXN), Analog Devices Inc. (ADI), Linear Technology Corp. (LLTC), Maxim Integrated Products Inc. (MXIM), Cree Inc. (CREE), The Home Depot, Inc. (HD), Mellanox Technologies, Ltd. (MLNX)

In the following excerpt from the Semiconductors Report, a Managing Director from Lazard discusses his outlook for the sector for investors:

TWST: You cover four different areas of the semiconductor sector, about which one are you most bullish at the moment and why?

Mr. Amir: So the area that we're most bullish about at the moment would be the LED space, which is the sector that deals with lighting. The reason we like this space right now is that we're seeing a transformation in the lighting industry from incandescent light bulbs toward LED light bulbs, which are mercury-free, solid-states, have a longer life and are greener. You're seeing that the lighting industry is just at the beginning of a big shift. Today the LED market is around high single digits as a percentage of the lighting industry, and we think that in the next decade this will be 30% to 40% of the whole lighting industry.

TWST: Which area of semiconductors are you least bullish about right now and why?

Mr. Amir: I would say that the space that we're probably least excited about right now is the space that's much more PC-oriented, largely because what we've seen here is a slowdown in PC adoption worldwide, that's been cannibalized by tablets and by smartphones. This year is going to be the second year in a row where actual PC units are going to decline on a year-over-year basis, which is reflecting this transition in the market.

TWST: Last October you published a report in which you wrote that you anticipate that the storage market will go through a dramatic shift from HDDs to SSDs that will lead to rapid technology innovation and new players emerging. Now that a year has passed, has your thesis started to play out? Which of your companies are beneficiaries of that shift, and what notable new players have emerged?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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