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Samsung Electronics Co., Ltd. (005935.KS)

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77,600.00+800.00 (+1.04%)
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Neutralpattern detected
Previous Close76,800.00
Open77,500.00
Bid79,400.00 x 0
Ask79,500.00 x 0
Day's Range76,800.00 - 77,800.00
52 Week Range34,900.00 - 86,800.00
Volume2,300,335
Avg. Volume4,000,937
Market Cap591.385T
Beta (5Y Monthly)0.93
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1,417.00 (1.85%)
Ex-Dividend DateSep 28, 2020
1y Target Est43,833.00
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • ASML Beats Estimates, Grapples With Chip Supply Shortage
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      ASML Beats Estimates, Grapples With Chip Supply Shortage

      (Bloomberg) -- ASML Holding NV, a crucial supplier to Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co, beat analyst expectations for the first quarter and is planning a significant share buyback in the first quarter, with U.S.-China tensions doing little to disrupt strong demand.Chief Executive Officer Peter Wennink said ASML hasn’t shipped EUV machines to China because the request for an export license is still with the Dutch government. “There have been very deep, lengthy discussions between the Dutch, the European and the U.S. governments about the strategic nature of this technology. We don’t expect that the fundamental views of the U.S. towards China will change with the new administration. It is known that China is the big competitor.”ASML shares hit a record high in Amsterdam trading, rising as much as 4.1% to 457.85 euros.Key InsightsThe Dutch supplier of machines to make semiconductors expects revenue in the first quarter of 3.9 billion euros ($4.7 billion) to 4.1 billion euros, with a gross margin of as much as 51%, it said in a statement Wednesday. Analysts had expected sales of 3.52 billion euros and a gross margin of 49.3%.ASML is insulated from the pandemic-induced economic downturn as customers such as Intel Corp., Samsung and TSMC need its latest machines to make chips that are faster, cheaper and more efficient. Developments in artificial intelligence, high-performance computing and 5G wireless networks should support future demand.Still, the chip industry needs to deal with the global chip supply shortage that’s crippling automakers around the world, the CEO said.“This engine needs to start running again,” Wennink said in an interview with Bloomberg. “We start from an under-capacity view today. So we’ll just have to step up and ship more tools and more machines to get more semiconductor capacity out there.”In the fourth quarter, ASML shipped nine of its newest EUV machines and won orders for six EUV systems representing 1.1 billion euros. EUV machines are used to etch smaller circuits while increasing capacity and speed.The company expects total EUV system sales this year of 5.8 billion euros, 30% higher than 2020.“The build out of the digital infrastructure and the continued technology innovation is relevant to the consumer, automotive and industrial markets and drives demand across our entire product portfolio,” Wennink said.Market ReactionASML shares have risen 69% in the past 12 months, outpacing a 14% gain in the Stoxx Europe technology index.Get MoreASML kept its guidance for low double-digit revenue growth for 2021, and annual revenue at 15 billion euros to 24 billion euros through 2025.The Dutch company has repurchased 1.2 billion euros worth of shares under its 6 billion euro buyback program, running through 2022.(Updates with CEO comments from second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

    • A Year of Poor Planning Led to Carmakers’ Massive Chip Shortage
      Bloomberg

      A Year of Poor Planning Led to Carmakers’ Massive Chip Shortage

      (Bloomberg) -- Near-sighted planning, supply-chain complexities and a tradition of keeping inventories low caused the semiconductor shortage that is now forcing carmakers to idle production lines and straining their relationship with chip manufacturers.Seeds of the imbroglio were sown almost a year ago as the virus outbreak led to plunging car demand, prompting auto-chip companies to slash orders. But when they wanted to increase supply toward the end of 2020, they struggled to secure capacity at Taiwan Semiconductor Manufacturing Co. and other contract chipmakers that were busy servicing a boom in demand for gadgets that help housebound consumers stay connected, according to people familiar with the situation.While publicly assuring the problem is solvable, in private the parties are pointing fingers. Chipmakers say car companies’ preference for low inventories hurt their planning, while auto and part manufacturers say the supply chain is thrown into disarray as semiconductor makers drag their feet. Automakers also contend chipmakers are prioritizing consumer electronics because those devices provide the bulk of their sales and profits. Chipmakers deny they are playing favorites. The quagmire reveals the risks for automakers from Ford Motor Co. to Volkswagen AG as vehicles become smarter and technologically more complex. Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.“Even if the OEMs say they didn’t over-correct, they may not have been thinking far enough ahead,” said Tor Hough, founder of Elm Analytics, a supply-chain research firm based in the Detroit area, referring to automakers, or original equipment manufacturers in industry parlance. “They’re also very wedded to ‘lean manufacturing’ -- so keeping low inventory to be more cost efficient.”Autos vs. SmartphonesCarmakers don’t deal directly with TSMC and other contract chipmakers. Instead, they work with auto-part suppliers like Robert Bosch GmbH and Continental AG, which in turn deal with automotive-chip designers including NXP Semiconductors NV and Infineon Technologies AG.While those two European chipmakers both make some parts in-house, they outsource a significant portion of production to TSMC and other foundries. It’s difficult for automotive-chip designers to get their orders prioritized by foundries because their volume is dwarfed by their consumer-electronics peers.Because of carmakers’ “just-in-time” manufacturing model, their suppliers worried about quick inventory buildups and canceled orders originally planned for foundries in the first half of 2020, the people said. At the same time, foundries began seeing a surge in demand for gadget chips after Apple Inc., Samsung Electronics Co. and Chinese brands prepped an avalanche of 5G devices including the iPhone 12, which require as much as 40% more silicon content as 4G handsets.One contract chipmaker notified all its customers in the third quarter that it might be time for them to place more orders as it anticipated a rebound in demand, but automotive clients demurred and ended up being the last ones to seek more capacity, one of the people said.Appeal to GovernmentsTSMC’s automotive customers continued to decrease demand in the third quarter, and the chipmaker only began to see sudden recovery in automotive orders in the fourth quarter, Chief Executive Officer C.C. Wei said in an earnings call earlier this month. By contrast, makers of consumer electronics and other hardware quickly built up chip inventories above the usual seasonal level, and are continuing to do so as they fret about potential future supply disruptions.The shortage has been exacerbated by a lack of capacity at assemblers including ASE Technology Holding Co., a person familiar with the matter said. Chip assemblers like ASE represent the critical final stage in finishing and preparing a chip for use, but the company’s production expansion has been hindered by an equipment supplier’s tardiness in delivering new gear, the person said. A further squeeze to the global supply was caused by the Trump administration blacklisting China’s Semiconductor Manufacturing International Corp. in December.Once European and U.S. carmakers realized they had a problem, they appealed to officials in Taiwan, home to TSMC and other leading foundries including United Microelectronics Corp., for assistance in stabilizing their chip supply.The American Automotive Policy Council, which represents major U.S. car companies, sought out the Taiwanese government for help, according to people familiar with the matter. In addition, General Motors Co. spoke to Taiwanese officials, and got them to help relay its request to TSMC, Bloomberg News has reported. The European Union has approached Taipei about the same issue, and Volkswagen has separately reached out as well, according to a person familiar with the matter.“We have requested that the U.S. government help us find a solution to the problem because it will diminish our production and have a negative impact on the U.S. economy until it’s resolved,” Matt Blunt, president of the American Automotive Policy Council, said in an interview.Scaling Back OutputBecause chip production requires a lead time of about three months, the impact will last throughout the first half and could bleed into the third quarter, Blunt said. His organization is working with the Biden administration on the issue, he said.Ford, Toyota Motor Corp., Nissan Motor Co., VW and Fiat Chrysler Automobiles NV -- now a part of Stellantis NV -- are among global carmakers that have scaled back output due to a lack of chips required for a wide range of components, from brakes to windshield wipers.With vehicles adding entertainment and autonomous-driving features, the amount of chips required is increasing and the supply chain becoming more complex. A car from a premium brand can require more than 3,000 chips, and even if just one is missing, the vehicle won’t get completed.“There are more chips, more varieties of chips. It’s not one batch of chips that went bad and they’re struggling with recovering that one chip,” said Hough at Elm Analytics. “The ecosystem upstream of the OEMs stopped purchasing the chips they used in production as the manufacturing went down.”Another bottleneck lies with smaller automotive-chip designers which supply critical chips to the whole industry and depend entirely on foundries. They often lack bargaining power to secure timely production because of their modest sizes.While automotive supply-chain managers are adept at containing short-term crises like the explosion in the northern Chinese port of Tianjin in 2015, they tend to be slower in making bigger changes that would help them deal with potential long-term disruptions, Elm Analytics’ Hough said.Foundry Spending SurgeBosch, the German car-parts maker, said its chips supply has been significantly diminished because a chipmaker’s expansion and production increases were delayed by the pandemic. In an emailed statement, Bosch said it is in daily contact with suppliers and customers to mitigate the impact.The shortage may start to ease as TSMC boosts its spending to a staggering $28 billion for 2021, with the foundry pledging this month that automotive chips will be a priority. The company has begun to offer more capacity in recent days to at least one automotive chip designer, although the volume still isn’t enough to satisfy demand, according to a person with direct knowledge of the matter.The situation isn’t as devastating as last spring’s car-plant shutdown that spanned the globe, said Sig Huber, a consultant at Conway MacKenzie and a former head of purchasing at Fiat Chrysler.“This will be more sporadic, a plant here or a plant there, for a shorter period of time, as opposed to a full industry shutdown,” Huber said. “This will not have anywhere near the impact of the production losses we saw last year.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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