靜靜的部落客

(ww18'12)

四月份的製造指數顯示經濟復甦在歐債轟擊下仍未熄火；美國製造業指數上揚至優於預期的54.8，中國製造業指數雖然不如預期，但仍來到十三個月來新高的53.3。兩大經濟體維持擴張弭平歐盟萎縮之疑慮。

 在半導體方面，重量級財報不斷出爐。在Qualcomm發表因Apple iPhone需求趨緩而第二季將衰退之財測後，Broadcom藉由贏得Samsung中低智慧型手機處理器訂單及新款iPad的需求上升抵銷iPhone銷售遲滯，因此無線部門第二季預期持平；整體而言，Broadcom預估下一季營業額將成長7%。另外值得一提的是，基頻方面雖然2G市場持續萎縮，Broadcom推展3G方案有成，促使本季3G營收首次超越2G，較原先預計早一季，這也代表著Samsung對Broadcom基頻的影響力正式超越Nokia。

 Atmel在觸碰方面則是遇到強大的競爭與市占流失的疑慮。雖然第一季觸碰營收因為Samsung Galaxy Note的關係而上升，第二季的預測卻呈下滑，市場推測原因為Atmel失去Samsung Galaxy S3的訂單(可能由Melfas贏得，但尚需正式上市後拆解才能確認)。

 至於歐洲方面，CSR表示來自於家庭娛樂系統、手機GPS晶片以及數位家庭產品的需求有所上升，但手機藍芽晶片不斷被整合式晶片取代，同時導航系統成長也呈停滯，導致未來展望仍顯不明。此外，由於CSR逐漸由手機淡出轉往家用電子，預期其未來營收將更受整體經濟形勢及消費者信心影響。

 The recovery appeared on track in April as the pace of growth in American and Chinese manufacturing picked up, shrugging off European debt crisis. USA’s ISM index rose to 54.8 last month, beating expectations, while China's PMI rose to 53.3 during in April, a smaller gain than expected but still a 13-month high.

 On semiconductor side, despite increasing concerns on the Apple supply chain, Broadcom beat consensus and guided 7% QoQ for next Q. Within Mobile & Wireless BU, share gains at Samsung (smartphone AP) and iPad leverage offset product transition issues with iPhone. However, 2G cellular expected to be weak in 2Q, leaving M&W guidance flat. The good news is 3G BB revenue exceeded 2G a quarter earlier than expected; indicating Samsung (3G) is eclipsing Nokia (2G) for its BB biz.

 For Atmel, touch biz beat expectation with Samsung Galaxy Note’s design win; however, the lower QoQ touch guidance (-1%) probably reflects Atmel losing Samsung Galaxy S3 (where they had won in the S2 previously) to Melfas (which has won Galaxy Nexus and Tab too).

 As for CSR, it continues to struggle from its acquisition of Zoran. Stronger demand from DTV, STB, DSC, entertainment systems, and GPS IC in handset was tempered by dwindling sales of PND and wireless chips in handsets. As it becomes more of a CE IC supplier, gloomy economic outlook and dismal consumer sentiment will affect CSR’s future significantly.