黄金行情前瞻中 黄金价格下破3300后能否守住？特朗普关税或将持续影响市场经济？后市金价"单边"或是"震荡"？ TTPS交易学长正在讲解中，立即观看！ 相关链接 ...

功率芯片大厂在2024年全面掉出了全球排名前十的阵营。根据Gartner的数据，美光和联发科的高成长，在2024年的统计中成功替代德州仪器、意法半导 体，上榜全球TOP10。 全球排名变动的背后，是汽车和工业市场销售疲软导致。然而，最近不少信号都在暗示：下半年汽车、工业领域半导体都会复苏。 TI发布了最新的第二季度财报，TI CEO哈维夫·伊兰（Haviv Ilan）说到："越来越多的证据和信号表明，所有渠道、所有地区的工业市场都正在复苏。" 无独有偶，意法半导体也表达了类似的信号。意法半导体在发布财报后表示，公司对未来的营运状况持乐观态度，认为"谷底已过"。 01四大巨头，财报飘绿 我们来分别看一下，德州仪器、意法半导体、恩智浦和瑞萨，这四大巨头的财报数据。 德州仪器第一季度营收达到了40.7亿美元，同比增长11%，净利润11.8亿美元。除了个人电子产品出现季节性的下滑，其他细分市场都实现了环比增长。 模拟芯片业务是主要驱动力，营收达到32.1亿美元，同比增长13%，营业利润12.06亿美元，同比增长20%。模拟芯片的强劲表现，是因为汽车、工业和通 信设备等领域的增长。 模拟、MEMS与传感器板块收入10. ...

另外，从地区来看，中芯国际一季度中国区营收占比84.3%，同比增加2.7个百分点，但环比减少4.8个 百分点；美国区营收占比12.6百分点，同比减少2.3百分点，但环比增加3.7百分点；欧亚区营收占比 3.1%，同比下降0.4个百分点，环比增加1.1百分点。 5月8日，国内晶圆代工巨头中芯国际发布了2025年第一季度财务报告，公司整体实现营业收入163.01亿 元，同比增长29.4%；净利润13.56亿元，同比大涨166.5%，但收入未达指引预期，预计二季度收入环比 下降4%到6%。 对于关税影响，赵海军表示，新的市场因素出现后，二季度基本面相比一季度没有发生太大变化，客户 都在沉着应对，公司产能利用率继续保持饱满状态。公司已经看到各行业，包括工业与汽车领域触底反 弹的积极信号，产业链在地化转换也继续走强，更多晶圆代工需求回流本土。关税加重战政策出台后， 中芯国际进行内部测算，并与供应商、国内外客户做了深入交流，政府也与工业界密切沟通，结论是实 际对行业的直接影响非常小，"影响小过一个百分点"。半导体代工行业，在采购层面可以吸收掉关税影 响。 中芯国际联合CEO赵海军9日在一季报电话会议上表示，由于工厂生产性 ...

泰国央行行长：关税影响将持续延伸；供应链需要调整，但这将需要很长时间。 ...

Diodes (DIOD) Q1 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Leanne Sievers - PresidentGary Yu - President & CEOBrett Whitmire - CFOEmily Yang - Senior Vice President of Worldwide Sales & Marketing Conference Call Participants David Williams - Equity Research AnalystTristan Gerra - Senior Research Analyst Operator Good afternoon, and welcome to Diodes Incorporated First Quarter twenty twenty five Financial Results Conference Call. At this time, all participants are in a listen only mode ...

Financial Data and Key Metrics Changes - In Q1 2025, the company added 298,000 subscribers, ending the quarter with 4.9 million paid accounts, a 51% increase year over year [5][12] - Average revenue per user (ARPU) rose to a record $13.48, contributing to subscriptions and services revenue of $69 million, both up over 20% year over year [5][14] - Non-GAAP services gross margin reached 83%, up 600 basis points from last year, leading to record free cash flow of $28 million and earnings per share of $0.15 [6][21] - Total revenue for Q1 2025 was $119 million, slightly down from the prior year, with subscription and services revenue representing about 58% of total revenue, up from 46% in the same period last year [14][15] Business Line Data and Key Metrics Changes - Subscription and services revenue increased by 21% year over year, driven by a growing paid subscriber base and higher ARPU [14] - Product revenue was $50.2 million, down compared to the prior year, primarily due to declining average selling prices (ASPs) across the industry [15] - The company shipped 1.1 million devices worldwide, consistent with the previous year's shipment volume [15] Market Data and Key Metrics Changes - International customers generated approximately $51 million or 43% of total revenue, down from $70 million or 56% in the prior year quarter [16] - The EMEA region, particularly through the partnership with Verisure, continues to drive international revenue [16][45] Company Strategy and Development Direction - The company is transitioning to a subscription and services-first business model, aiming for 10 million subscribers by 2025 [7][9] - A significant product launch is planned for the 2025 holiday season, with over 100 new SKUs expected to enhance technology differentiation and reduce costs by 20% to 35% [9][10] - The company is focusing on using its hardware as a customer acquisition tool, even in a declining ASP environment [18][65] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite uncertainties related to tariffs and macroeconomic conditions [8][24] - The company anticipates continued strong growth in subscribers and ARPU expansion, with no plans to increase prices at this time [6][8] - Management noted that the current conditions may present new opportunities for growth, especially as competitors struggle [9][60] Other Important Information - The company ended the quarter with $153.1 million in available cash and cash equivalents, up $10 million since March 2024 [20] - Record free cash flow of $28 million represented a free cash flow margin of almost 24%, up 45% over the same period last year [21] Q&A Session Summary Question: Are you thinking about any sort of inventory stocking ahead of July 3? - Management is actively monitoring inventory levels and working with suppliers to ensure sufficient inventory is available before the tariff changes [26][28] Question: Do you expect the new products to be shipped before the July time frame? - The company expects to remain under the 10% tariff regime until July 8 and is confident in managing costs and pricing strategies [30][33] Question: Can you touch on the drivers of the weaker performance in Europe? - The decline was attributed to inventory dynamics with Verisure, Chinese New Year impacts, and regulatory changes regarding USB-C requirements [42][45] Question: Do you expect negative gross margins for products to hold? - Management highlighted that combined gross margins have improved, and they are comfortable using hardware as a customer acquisition tool despite negative product margins [50][51] Question: What percentage of your competitors are struggling with Chinese manufacturing? - Nearly all competitors are manufacturing in Asia, with those heavily reliant on Chinese manufacturing facing significant challenges due to tariffs [58][60] Question: What is the update on strategic partnerships? - The company is progressing well with strategic accounts and expects to finalize significant partnerships in the near future [72]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $332.1 million, a 10% increase year-over-year compared to $302 million in Q1 2024, but a decrease of 2.1% sequentially from $339.3 million in Q4 2024 [12][18] - GAAP net loss for Q1 2025 was $4.4 million, or a loss per share of $0.10, compared to net income of $14 million or $0.30 per diluted share in Q1 2024 [14] - Non-GAAP adjusted net income for Q1 2025 was $8.8 million, or $0.19 per diluted share, down from $13 million or $0.28 per diluted share in Q1 2024 [14] - EBITDA for Q1 2025 was $26.2 million, or 7.9% of revenue, compared to $48.3 million or 16% of revenue in the prior year period [15] Business Line Data and Key Metrics Changes - Automotive and industrial markets accounted for 42% of Q1 2025 product revenue, maintaining the same level as the previous quarter [7][19] - The computing segment represented 27% of product revenue, with ongoing design momentum in AI server and data center applications [18][25] - Consumer market revenue was 17%, while communication market revenue was 14% [19][27] Market Data and Key Metrics Changes - Asia represented 78% of revenue, Europe 13%, and North America 9% in Q1 2025, with improvements noted across all regions [18] - Channel inventory levels decreased, indicating a better alignment with actual demand [7][18] Company Strategy and Development Direction - The company announced a $100 million stock repurchase program, reflecting confidence in future growth prospects [10] - The hybrid manufacturing model allows the company to adapt to global customer needs and mitigate tariff impacts [10][28] - The focus remains on content expansion and gaining market share in the automotive sector as it recovers [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth prospects in 2025 and beyond, despite current economic uncertainties due to tariffs [29] - The company expects revenue for Q2 2025 to increase to approximately $355 million, representing 11% growth year-over-year [17] Other Important Information - Total inventory days at the end of Q1 2025 were approximately 187, down from 193 in the previous quarter [16] - Cash flow provided by operations was $56.7 million for Q1 2025, with free cash flow of $40.8 million [15] Q&A Session Summary Question: Demand pull forward due to inventory levels and tariffs - Management noted that while tariffs create uncertainty, they do not see significant demand pull forward, but rather an improvement in channel inventory and backlog [35][36] Question: Impact of tariffs on manufacturing strategy - The hybrid manufacturing model will continue to be a focus, with no changes to the strategy despite tariff issues [39][40] Question: AI CapEx trends and regional demand - Demand is strong in data center applications, particularly among hyperscalers, with positive trends in edge computing as well [44][46] Question: Gross margin catalysts and potential headwinds - Management expects margin improvement in the second half of the year, driven by increased revenue and improved product mix [48][52] Question: Normalization of distributor inventories - Current inventory levels are slightly above the target range of 11 to 14 weeks, but management is comfortable with the levels supporting expected growth [58]

Financial Data and Key Metrics Changes - In Q1 2025, Arlo added 298,000 subscribers, ending the quarter with 4.9 million paid accounts, a 51% increase year over year [5][13] - Average revenue per user (ARPU) rose to a record $13.48, contributing to subscriptions and services revenue of $69 million, both up over 20% year over year [5][14] - Non-GAAP services gross margin reached 83%, up 600 basis points from last year, leading to record free cash flow of $28 million and earnings per share of $0.15 [6][19] - Total revenue for Q1 2025 was $119 million, slightly down from the prior year, with subscription and services revenue representing about 58% of total revenue, up from 46% in the same period last year [14][15] Business Line Data and Key Metrics Changes - Subscription and services revenue was $68.8 million, a 21% increase year over year, driven by higher ARPU and growth in the paid subscriber base [14] - Product revenue was $50.2 million, down compared to the prior year, primarily due to declining average selling prices (ASPs) across the industry [15] - The company shipped 1.1 million devices worldwide, consistent with the previous year, indicating stable product demand despite economic challenges [15] Market Data and Key Metrics Changes - International customers generated approximately $51 million or 43% of total revenue, down from $70 million or 56% in the prior year quarter [16] - The EMEA region, particularly through the partnership with Verisure, continues to drive international revenue, although there were challenges due to inventory management and regulatory changes [45] Company Strategy and Development Direction - Arlo is transitioning to a services-first business model, with a long-range plan targeting 10 million subscribers [7][10] - The company plans its largest product launch in history for the 2025 holiday season, introducing over 100 new SKUs to enhance technology differentiation and achieve cost reductions of 20% to 35% [10][11] - The advertising strategy will focus on promoting Arlo service subscription tiers and device upgrades, with early testing showing strong conversion rates [11][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite uncertainties related to tariffs and macroeconomic conditions [9][24] - The company anticipates continued strong growth in subscribers and ARPU expansion, with no plans to increase prices at this time [6][9] - Management highlighted the resilience of the subscription and services business, which insulates the company from tariff impacts on hardware revenue [9][60] Other Important Information - The company ended Q1 with $153.1 million in available cash and short-term investments, up $10 million since March 2024 [20] - Record free cash flow of $28 million represented a free cash flow margin of almost 24%, up 45% year over year [20] Q&A Session Summary Question: Inventory stocking ahead of tariffs - Management is actively monitoring inventory levels and working with suppliers to ensure sufficient inventory is available before potential tariff increases [26][27] Question: Product refresh timing and tariff impact - Most new products will be produced after July 8, with expectations of a 20% to 35% reduction in costs, allowing for competitive pricing despite tariffs [29][33] Question: International revenue decline - The decline in international revenue was attributed to inventory management issues and regulatory changes, but demand remains strong [42][45] Question: Product gross margin outlook - Management acknowledged negative product gross margins but emphasized the overall growth in combined gross margins due to the subscription model [48][50] Question: Competitive landscape and share shifts - The company is capturing market share as competitors struggle with tariff impacts, particularly those focused solely on hardware [61][64]

美商务部长预告"100亿美元"波音飞机订单 金十数据5月8日讯，周四，美国商务部长卢特尼克在椭圆形办公室预告，英国一家航空公司和波音公司 之间即将达成的一项大规模交易。卢特尼克拒绝透露哪家航空公司将购买这些飞机，但他表示，这将是 一笔100亿美元的订单。爱尔兰瑞安航空公司（Ryanair）上月表示，如果美国继续征收关税，该公司将 考虑取消一大笔波音飞机订单。波音(BA.N)周四上涨3%。该公司曾表示，关税可能会损害其已经受到 重创的业务。 ...

Installed Building Products (IBP) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Speaker0 Greetings, and welcome to the Installed Building Products First Quarter twenty twenty five Financial Results Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce Darren Hicks, Vice President of Investor Relations. Please go ahead. Speaker1 Good mor ...