Intel Corp (INTC)

[Unkwn]

News about TSMC:

The world's biggest foundry is still set to spend more on capex than it did in 2014 ($9.52B), something that can't be said for Intel. Samsung has been forecast by IC Insights to spend $11.3B on chip capex this year, as it ramps 14nm production and expands DRAM/NAND output.

It seems that they all expect a bit of a cooldown in semiconductor production (and TSMC doesn't fab memories to my knowledge), though, Intel spends the lowest CAPEX. I know, people on this board think Intel will keep its process lead without dollars - I don't.

TSMC is under the highest financial pressure, since they don't earn as much as Intel and Samsung, but have to spend as much. In addition, Samsung is putting a lot of pressure on them in the foundry business (and I hope Intel will wake up one day and do the same).

I believe we are seeing a major cooldown in smartphone growth (slower replacements, trends towards cheaper SoCs). If the PC business recovers instead, Intel will be in best shape, together with Samsung (who have a very nice memory business). Intel still needs to keep investing and we need a recovery in the PC business for that. Ah, and maybe Intel wakes up from its slumber and finally makes some foundry business - that's almost as lame as their mobile attempts it seems (glad we have the server business).