Doug
Автор Substack, SemiAnalysis
The author makes a bullish case for Intel to issue equity at elevated prices to fund its foundry expansion, arguing this will be accretive given the strong customer commitments and government anchor.
The author makes a bullish case for Intel to issue equity at elevated prices to fund its foundry expansion, arguing this will be accretive given the strong customer commitments and government anchor. The article highlights a favorable capital-raising window and improved board oversight.
Risk: Equity dilution could weigh on near-term EPS, and execution risk on Terafab remains substantial.
Doug
Автор Substack, SemiAnalysis
The article mentions 'overflow demand from the great N3 shortage' as a tailwind for Intel's foundry, which implies TSMC's N3 capacity is fully utilized and pricing is strong. This tightness supports T
The article mentions 'overflow demand from the great N3 shortage' as a tailwind for Intel's foundry, which implies TSMC's N3 capacity is fully utilized and pricing is strong. This tightness supports TSMC's pricing power and demand outlook.
Risk: Intel's foundry success could eventually erode TSMC's market share, but near-term tightness benefits TSMC.