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UBS expects to hear a better “tone” from the broader memory and storage space, including from Western Digital (NASDAQ:WDC) and Seagate Technology Holdings (NASDAQ:STX) at the bank’s semiconductor conference in Scottsdale, Ariz., next week.
“We expect the tone to generally mirror the recently concluded earnings season and as it relates to memory – we note that pricing has been very strong recently,” analysts led by Timothy Arcuri wrote in a note.
Semiconductor wafer fab equipment may be seeing a more “sideways” movement in the quarter as China comes from big spending in the second half of this year and non-China memory spending starts to come back, the bank said.
“AMD should be bullish about its AI opportunity – especially given NVDA’s outlook – and INTC may sound a slightly better tone – particularly around PCs,” the analysts added.
UBS will host the following companies for presentations, investor meetings and dinners: Intel (NASDAQ:INTC), Nvidia (NASDAQ:NVDA), Qualcomm (QCOM), AMD (AMD), Micron (MU), Texas Instruments (TXN), Analog Devices (ADI), Microchip Technology (MCHP), On Semiconductor (ON), Skyworks Solutions (SWKS), Qorvo (QRVO), KLA Corporation (KLAC), Lam Research (LRCX), ASM International (OTCQX:ASMIY), ASML Holding (ASML), Teradyne (TER), Entegris (ENTG), Western Digital (WDC), Seagate Technology (STX), Golden Falcon Acquisition Corp. (GFS), Wolfspeed (WOLF), MaxLinear (MXL), Taiwan Semiconductor (TSM), Amkor Technology (AMKR), ACM Research (ACMR), Cadence Design Systems (CDNS) and Power Integrations (POWI).
The bank will also host a panel with the CHIPS Program Office from the U.S. Department of Commerce.
