Portable devices will eventually push PC architecture into its dotage. This paradigm shift is creating huge opportunities for semiconductor companies, with processors, modems, radios and sensors the biggest categories, and with footprint and power efficiency paramount design considerations, as device
– Rumor has it Apple and Intel are discussing a fab relationship by which Apple’s next ARM-based processors could be built on Intel’s world-leading 22nm and coming 14nm processes. – For Apple, whose processor design advantage has eroded with each
TMT: In the Year 2020 – 8 Things We Think Innovations in device design, platform software, wireless, cloud data processing and cloud applications have catalyzed radical TMT paradigm shifts. While much has changed, development trajectories imply even more dramatic developments
Microsoft: No More Mister Softy! After a decade of bumbling, MSFT may be getting its act together. While investors have focused on the underwhelming consumer reception for its portable devices and the risk to the Windows franchise, MSFT has positioned
– The “next big thing” du jour seems to be wearable computing, with separate lines of rumor linking both Apple and Google to electronic wristwatches as smartphone adjunct accessories. – It’s hard to imagine a “smartwatch” as a big opportunity
– Apple beat consensus and fell to under 11x trailing EPS, while Amazon missed, rose and trades at an imaginary multiple vs. its TTM losses – clearly future glory beats past glory. – Jeff Bezos invests his potential profits and
Amazon’s years of investment have built the scale, skills, customer base and infrastructure needed to conquer new retail categories and geographies, establish a world-class IT platform in the process. Store-free operations and systems driven logistics give it lower costs and
– Apple’s disappointment fuels the bear case of increasing competition and tightening margins – consensus estimates will continue to fall. 47.8m iPhones + 22.9m iPads = Not Enough. – Broader product lines and faster update cycles will be pitched as
– Despite a lot of moving parts, Google’s 4Q12 was really strong – ex MOT sales up 19.5% YoY, EPS up 20.7%. MOT was a big drag – revs were off $260M vs. 3Q and losses hit EPS by more
Facebook has a LOT of users, a LOT of unique information about them, and a large scale, sophisticated data processing infrastructure, with “big data” capability second only to Google. FB has a good start in applying those assets, taking
