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Friday, April 3, 2009

Roundup – April 3, 2009

Google NOT in talks to acquire Twitter

…though maybe they should, according to several.

FDIC considering issuing notes and equity stakes in PPIPs to banks for toxic assets

Bank sells asset to massively leveraged PPIP and buys stake in same massively leveraged PPIP.  Leveraged risk transferred to taxpayer, leveraged reward transferred back to bank.  Takes leverage in the system to a whole new level.  I tried to draw a flowchart of it and got dizzy.  NYT link also.

Omnivision lands iPhone camera orders

At some significant price discount, to be sure… but there’s a lot of shorts in it.  Micron camera sensor sales missed estimates by 50%.  Might get a chance to buy OVTI on weakness today.

Head of Federal Home Loan Bank System (FHLB) quits over bank marks

The FHLB has some 1.2 trillion in outstanding debt and their books are very overstated.  Not comforting.

Micron conference call transcript

Let me summarize:  gee, we didn’t make as much as we should have when prices rallied.  Fortunately we’ve taken some inventory writedowns so we can inflate gross margins in future quarters.  The industry supply cutbacks will drive prices higher in the second half.

Poly prices fall below $100/kg

I think this is the fourth or fifth article I’ve read about poly prices falling below this mystical $100 level.  It doesn’t seem new.

Altera and Xilinx orders to foundries to increase 10% in 2Q09

Altera orders stronger than Xilinx.  China 3G ramp is likely front-end loaded and unsustainable.

Calling Dick Tracy…

Watch phone.  Dorky.  And cool.  Both really.

Though revenues are better...

Prices of monitors are falling...

As are prices of TVs...

So panel makers still can’t make money

Costs above selling prices will do that despite utilization rising significantly.

Netbooks – all the growth, none of the ASP

Intel’s +$200 ASP on Centrino notebook processors is in some serious danger from these $20-30 Atom chips.

DRAM and NAND prices drift lower on distributor dumping

Distributor dumping is supply chain speak for lack of anticipated demand.  These guys typically load up thinking they can flip chips at higher prices.  Guess it’s not working this time.

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