Human society has entered the era of artificial intelligence, and many application scenarios will be completely rewritten. However, if the entire industry chain of semiconductor is sorted out, there are two irreversible trends: first, the manufacturing process continues to shrink; second, computing power Continuously strengthen.
Under the first trend, the crown jewel falls on one company: TSMC.
Today, what we want to solve is who will fall on the second big trend.
Since 2015, this company has taken advantage of concepts such as , artificial intelligence, , and Bitcoin. Its stock price has risen from US$19 to US$291, with a maximum increase of 14 times.
However, in April 2018, it was shorted by Citron Research, pointing out that it had problems such as AI concept hype and new products that were not as good as expected.
In addition, in the subsequent third quarter report of 2018, the performance growth rate declined, and the stock price plummeted. The lowest stock price was US$142, a drop of 58% in just two months.
If you put aside the external conceptual driving reasons, the company's sharp rise since 2015 is related to the changes in the business logic and investment logic behind it.
Moreover, in the future era, it will be difficult to avoid it for any investors who want to study cutting-edge industries such as artificial intelligence and deep learning.
It is US stock semiconductor company - NVIDIA. Its core product is GPU (Graphics Processing Unit, graphics processor ). Its downstream application fields are extremely wide, covering all aspects of your life.
From games, film and television special effects, to intelligent advertising and product recommendations on search engines, social networking sites, and e-commerce platforms, to the upcoming intelligent driving, it is impossible to leave the GPU.
Recently, its main business revenue was US$7.813 billion (55.238 billion yuan), and net profit was US$1.845 billion (13.044 billion yuan); cash flow generated from operating activities was US$3.296 billion (23.303 billion yuan). The gross sales profit margin is 60.83%, and the net sales profit margin is 23.61% ( exchange rate is calculated based on December 2019, 1 US dollar = 7.07 yuan). From the financial data of
, the gross profit margin and net profit margin are high, and the cash flow is also very good.
In addition, judging from the customer list, they are all well-known large companies.
For example: ASUS , Dell , Sony , Microsoft , Google , Facebook , Alibaba , Tencent , Hikvision , American credit giant FICO, etc.
Then, here comes the question worthy of our deep thinking:
1) What is the connection between GPU and AI? Why do many masters dare to make deterministic judgments and say: The arrival of the artificial intelligence era is inseparable from it?
2) What’s going on with Nvidia’s sharp rise and what’s with its plummeting? What the hell is the growth rate declining? After the growth rate declined, in the face of various media doubts, can it continue to increase in the future?
predicts the follow-up, and listen to the next chapter’s breakdown
does not constitute any investment advice. The stock market is risky, so you need to be cautious when entering the market
