21 July 2019 | 12:06PM EDT Made in the USA or China Memory lane and a look down the road: China progressing in NAND but hurdles remain Mark Delaney, CFA +1(212)357-0535 |
[email protected] Goldman Sachs & Co. LLC Allen Chang +852-2978-2930 |
[email protected] Goldman Sachs (Asia) L.L.C. We believe that China’s efforts to enter the global DRAM and NAND markets merit a Daiki Takayama +81(3)6437-9870 | deeper dive into how the memory industries have evolved over time, what impact
[email protected] Goldman Sachs Japan Co., Ltd. China’s entry into other commodity tech industries (such as LEDs and solar) has had Toshiya Hari on fundamentals, where we believe the leading China-based memory companies +1(646)446-1759 |
[email protected] Goldman Sachs & Co. LLC stand at present with their efforts to enter the market (and the challenges that still Satoru Ogawa +81(3)6437-4061 | exist for entering the market — with GlobalFoundries as an example that
[email protected] leading-edge semi production is difficult even for well-funded efforts), and what we Goldman Sachs Japan Co., Ltd. Alexander Duval believe all this means for the stocks of the established memory, drive, and semi +44(20)7552-2995 |
[email protected] equipment companies. Goldman Sachs International Timothy Sweetnam, CFA With over $150 bn of semiconductors shipped to China in 2018, per the +1(212)357-7956 |
[email protected] Semiconductor Industry Association (SIA), and China domestic semi firms having Goldman Sachs & Co.