Applied Materials Showcases Unique Cap - 股票

原文標題：

Applied Materials Showcases Unique Capabilities to Accelerate Innovation and
Drive Long-Term Profitable Growth
應用材料展示出獨特的能力來加速創新並推動長期盈利增長

原文連結：

https://reurl.cc/zbEMZy

發布時間：

April 06, 2021

原文內容：

‧ Outlines strategy to be “the PPACt enablement company”
‧ Plans to grow revenue by over 55 percent and non-GAAP EPS by more than 100
percent by fiscal 2024
‧ Commits to return 80 to 100 percent of free cash flow to shareholders


SANTA CLARA, Calif., April 06, 2021 (GLOBE NEWSWIRE) -- At its 2021 Investor
Meeting held today, Applied Materials unveiled plans to grow the company’s
revenue, earnings and free cash flow by enabling customers to accelerate
improvements in chip power, performance, area, cost and time to market
(PPACt). Applied also announced plans to generate 70 percent of future
services and parts revenue through subscription-like long-term agreements.

Applied outlined five major inflections that are fueling secular growth and
the need for innovation as the company drives its longer-term strategy. At a
macro level, the digital transformation of the global economy is
accelerating. In computing, AI workloads are fueling the need for new
architectures based on entirely new types of silicon. Within chipmaking,
traditional Moore's Law 2D scaling is slowing, creating the need for a “new
playbook” for PPACt that enables continued chip- and system-level
improvements. Another inflection is the need to grow the industry in a more
sustainable and equitable manner. Finally, customers are seeking not just
better products, but also better outcomes, resulting in a business model
shift to solutions delivered via subscription models.

“The core of our strategy is to be the PPACt enablement company,” said Gary
Dickerson, president and CEO of Applied Materials. “Our broad portfolio and
ability to combine technologies in ways no other company can is accelerating
value creation for our customers and puts Applied in a leadership position to
advance the state of chipmaking for years to come.”

Applied has aligned its strategy to meet the increasingly complex needs of
its customers, many of whom participated in the event to discuss trends in
computing, semiconductor technology, services and ESG (environmental, social
and governance).

Applied summarized the evolution of its Semiconductor Systems business. The
portfolio is expanding from unit process equipment that performs a single
step to include co-optimized systems with pre-proven combinations along with
Integrated Materials Solutions where multiple process technologies are
combined under vacuum to create novel materials and chip structures that are
not otherwise possible.

“It has been a great journey to walk with Applied Materials over the past 30
some years,” said Dr. Mark Liu, chairman of TSMC. “Beyond 3nm, to sustain
the rate of improvement, and I believe we will, we need to work together
closer than ever before. We need to innovate in new transistor structures, in
new materials, in new system architecture, and in new 3D integration. It is
an exciting time. We look forward to working with Applied Materials to
discover the future semiconductor innovations.”

The company also presented case studies of Applied AIX (Actionable Insight
Accelerator) – a new platform that enables semiconductor engineers to use
the power of big data and AI to accelerate the discovery, development and
commercial deployment of new chip technologies.

“It’s hard to simply put a number on it, but we all know that improving the
process margin is the key to enable technology node migration,” said
Seok-Hee Lee, CEO and president of SK hynix. “In many cases, it not only
requires the adoption of advanced new technologies in a number of areas
including materials, process and equipment, but it also requires all those
factors to be optimized for the integration of multiple process steps. Each
change in process variables affects others at multiple levels, so
accelerating the cycle of learning to come up with the optimal solution is
crucial. If Applied Materials develops new process technologies which are
already co-optimized with adjacent process steps, it will help reduce
development complexity for chipmakers. I think our development activities can
move at a fast pace if we work together to harness the power of sensors, big
data and AI to map and predict the effect of many process variables.”

As electronic products become smarter the silicon content per device is
increasing, including specialty semiconductors based on mature process nodes.
Applied is addressing this growing demand with its ICAPS group (IoT,
Communications, Automotive, Power and Sensors). The company is now generating
more than $3 billion per year in the ICAPS business.

“GF is focused on the largest, most pervasive segments of the semiconductor
industry and where technology has the broadest impact,” said Tom Caulfield,
CEO of GF. “Our industry began a fundamental shift 15 years ago with the
emergence of the smart phone, which brought new features including image
sensors, battery management and secure pay. This also led to the Internet of
Things that’s now moving from all things connected to all things
intelligent. Gary Dickerson and team saw this trend early on and created a
group dedicated to innovation on adding features to semiconductor products on
all nodes. Today at GF, we leverage much of Applied’s capabilities for the
technologies we innovate and manufacture.”

To support the sustainable growth of the semiconductor industry, Applied
underscored its ESG commitments with initiatives that are being driven within
the company and in collaboration with suppliers, customers and the computing
industry.

“Micron is highly committed to reducing our environmental impact,” said
Sanjay Mehrotra, president and CEO of Micron. “We appreciate how Applied
Materials has embraced similar goals and made strong commitments to increase
the eco-efficiency of its manufacturing systems.”

2024 Financial Model

In the base case assumptions of its 2024 financial model, Applied plans to
grow revenue by over 55 percent and non-GAAP EPS by more than 100 percent as
compared to fiscal 2020. It plans to increase Semiconductor Systems revenue
by over 60 percent. The company announced a commitment to return between 80
and 100 percent of free cash flow to shareholders.

Applied plans to grow its services business by over 45 percent as it
increasingly moves beyond transactional parts and maintenance to
comprehensive services delivered via subscription to give customers better
outcomes from lab to fab. Key to the growth strategy is expanding the use of
digital services and remote capabilities that use sensors, analytics and AI.

In its Display business, Applied expects to benefit from the next wave of
OLED growth as the technology becomes more pervasive in smartphones, notebook
PCs, tablets and TVs. Applied plans to increase annual operating margin in
its Display business to around $600 million dollars on average over the four
years ending 2024.

“The growth momentum in our reporting segments is the foundation of our new
target financial model,” said Dan Durn, senior vice president and CFO of
Applied Materials. “Combined with our focus on execution, discipline and
resulting margin improvements, we plan to drive a high-ROI model that
generates strong free cash flow and attractive shareholder returns.”

A replay of the Applied Materials Investor Meeting, along with the
presentation and related materials, are available on the company’s website
at http://www.appliedmaterials.com/company/investor-relations.

Non-GAAP and Other Financial Measures
Free cash flow is defined as operating cash flow, less net capital
expenditures. Reconciliations of non-GAAP to GAAP measures are contained in
the 2021 Investor Meeting presentation, which is available on the investor
page of the company’s website. The non-GAAP adjusted EPS and gross and
operating margin targets assume non-GAAP adjustments as applicable for future
periods, which we are unable to predict without unreasonable efforts due to
their inherent uncertainty. Management uses non-GAAP adjusted financial
measures to evaluate the company's operating and financial performance and
for planning purposes. Applied believes these measures enhance investors’
ability to review the company’s business from the same perspective as the
company’s management, and facilitate comparisons between periods on a
consistent basis. There are limitations in using non-GAAP financial measures
because they are not prepared in accordance with GAAP and may differ from
non-GAAP methods of accounting and reporting used by other companies.

Forward-Looking Statements
This release contains forward-looking statements, including those regarding
anticipated growth and trends in our businesses and markets, industry
outlooks and demand drivers, technology transitions, our business and
financial performance and market share positions, our capital allocation and
cash deployment strategies, our investment and growth strategies, our
development of new products and technologies, our business outlook through
fiscal 2024, and other statements that are not historical facts. These
statements and their underlying assumptions are subject to risks and
uncertainties and are not guarantees of future performance. Factors that
could cause actual results to differ materially from those expressed or
implied by such statements include, without limitation: the level of demand
for our products; global economic and industry conditions; the effects of
regional or global health epidemics, including the severity and duration of
the ongoing COVID-19 pandemic; global trade issues and changes in trade and
export license policies, including the recent rules and interpretations
promulgated by the U.S. Department of Commerce expanding export license
requirements for certain products sold to certain entities in China; consumer
demand for electronic products; the demand for semiconductors; customers’
technology and capacity requirements; the introduction of new and innovative
technologies, and the timing of technology transitions; our ability to
develop, deliver and support new products and technologies; the concentrated
nature of our customer base; acquisitions, investments and divestitures;
changes in income tax laws; our ability to expand our current markets,
increase market share and develop new markets; market acceptance of existing
and newly developed products; our ability to obtain and protect intellectual
property rights in key technologies; our ability to achieve the objectives of
operational and strategic initiatives, align our resources and cost structure
with business conditions, and attract, motivate and retain key employees; the
variability of operating expenses and results among products and segments,
and our ability to accurately forecast future results, market conditions,
customer requirements and business needs; our ability to ensure compliance
with applicable law, rules and regulations; and other risks and uncertainties
described in our SEC filings, including our recent Forms 10-Q and 8-K. All
forward-looking statements are based on management’s current estimates,
projections and assumptions, and we assume no obligation to update them.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering
solutions used to produce virtually every new chip and advanced display in
the world. Our expertise in modifying materials at atomic levels and on an
industrial scale enables customers to transform possibilities into reality.
At Applied Materials, our innovations make possible the technology shaping
the future. Learn more at www.appliedmaterials.com.

機翻如下：

-概述成為 "PPACt全能公司 "的戰略。
-計畫到2024財年營收增長超過55%，非GAAP每股收益增長超過100%。
-承諾將80%至100%的自由現金流回報給股東。

加利福尼亞州聖克拉拉市，2021年4月6日(環球網綜合報導)--在今天舉行的2021年投資者
會議上，應用材料公司公佈了通過讓客戶加速改善晶片功率、性能、面積、成本和上市時
間(PPACt)來增加公司收入、盈利和自由現金流的計畫。應用材料還宣佈，計畫通過類似
於訂閱的長期協議來創造未來70%的服務和零部件收入。

AMAT概述了五個主要的拐點，這些拐點正在推動世俗增長，以及公司推動長期戰略時對創
新的需求。在宏觀層面，全球經濟的數位化轉型正在加速。在計算方面，人工智慧工作負
載正在推動基於全新類型矽片的新架構的需求。在晶片製造領域，傳統的摩爾定律二維擴
展正在放緩，這就產生了對PPACt "新玩法" 的需求，從而實現晶片和系統級的持續改進
。另一個拐點是需要以更可持續和公平的方式來發展這個行業。最後，客戶不僅尋求更好
的產品，而且尋求更好的結果，導致商業模式向通過訂閱模式交付解決方案轉變。

"我們戰略的核心是成為PPACt全能公司，"應用材料公司總裁兼首席執行官Gary
Dickerson說。"我們廣泛的產品組合和以其他公司無法做到的方式結合技術的能力正在加
速為我們的客戶創造價值，並使AMAT在未來幾年內處於推動晶片製造狀態的領導地位。"

AMAT公司調整了戰略，以滿足客戶日益複雜的需求，許多客戶參加了此次活動，討論計算
、半導體技術、服務和ESG（環境、社會和治理）的趨勢。

AMAT公司總結了其半導體系統業務的發展。該產品組合正在從執行單一步驟的單元製程設
備，擴展到包涵具有預先驗證的組合的協同優化系統以及集成材料解決方案，其中多種製
程技術在真空下結合，以創造出新穎的材料和晶片結構，否則就不可能。

"在過去30年左右的時間裡，與應用材料公司一起走過了一段偉大的旅程。"台積電董事長
劉德音博士表示。"在3納米之後，為了保持改進的速度，我相信我們會且需要比以往更緊
密地合作。我們需要在新的電晶體結構、新的材料、新的系統架構以及新的3D集成方面進
行創新。這是一個激動人心的時刻。我們期待與應用材料公司合作，共同發現未來的半導
體創新。"

該公司還介紹了應用AIX(Actionable Insight Accelerator)的案例研究--這是一個新的
平臺，使半導體工程師能夠利用大資料和人工智慧的力量來加速新晶片技術的發現、開發
和商業部署。

"很難簡單地用一個數字來表示，但我們都知道，提高製程利潤率是實現技術節點遷移的
關鍵。"SK hynix首席執行官兼總裁Seok-Hee Lee說。"在很多情況下，這不僅需要在材料
、製程和設備等多個領域採用先進的新技術，還需要將所有這些因素進行優化，以實現多
個製程的整合。每一個製程變數的變化都會在多個層面上影響到其他變數，因此加快學習
的週期以得出最優的解決方案是至關重要的。如果應用材料公司開發的新製程技術已經與
相鄰製程步驟共同優化，將有助於降低晶片製造商的開發複雜性。我認為，如果我們共同
努力，利用感測器、大資料和人工智慧的力量來繪製和預測許多製程變數的影響，我們的
開發活動就能快速推進。"

隨著電子產品變得更加智慧化，每個設備的矽含量也在增加，包括基於成熟製程節點的特
種半導體。AMAT公司正在通過其ICAPS集團（物聯網、通信、汽車、電源和感測器）來滿
足這一日益增長的需求。目前，該公司每年在ICAPS業務上的收入超過30億美元。

"GF專注於半導體行業中最大、最普遍的領域，也是技術影響最廣泛的領域。"GF首席執行
官Tom Caulfield說。"我們的行業在15年前隨著智慧手機的出現開始了根本性的轉變，它
帶來了新的功能，包括圖像感測器、電池管理和安全支付。這也導致了現在從萬物互聯到
萬物智慧的物聯網。Gary Dickerson和團隊很早就看到了這一趨勢，並成立了一個小組，
專門負責在所有節點上為半導體產品增加功能的創新。如今在GF，我們創新和製造的技術
都利用了AMAT的很多能力。"

為了支持半導體行業的可持續發展，Applied強調了其ESG承諾，在公司內部以及與供應商
、客戶和計算行業合作推動的舉措。

"美光高度致力於減少我們對環境的影響，"美光總裁兼首席執行官Sanjay Mehrotra說。"
我們很欣賞應用材料公司如何接受類似的目標，並作出強有力的承諾，提高其製造系統的
生態效率。"

2024年財務模式

在其2024年財務模型的基本情況假設中，應用公司計畫與2020財年相比，營收增長超過
55%，非GAAP EPS增長超過100%。該公司計畫將半導體系統收入增長60%以上。該公司宣佈
承諾將80%至100%的自由現金流回報給股東。

應用公司計畫將服務業務增長超過45%，因為它越來越多地從交易性的零部件和維護轉向
通過訂閱提供的綜合服務，為客戶提供從實驗室到晶圓廠的更好結果。增長戰略的關鍵是
擴大使用數位服務和使用感測器、分析和AI的遠端功能。

在顯示器業務方面，隨著OLED技術在智慧手機、筆記型電腦、平板電腦和電視中的普及，
AMAT公司預計將受益於下一波OLED的增長。AMAT公司計畫在截至2024年的四年內，將顯示
器業務的年平均營業利潤率提高到6億美元左右。

"我們報告部門的增長勢頭是我們新目標財務模式的基礎，"應用材料公司高級副總裁兼首
席財務官Dan Durn表示。"結合我們對執行力、紀律和由此帶來的利潤率改善的關注，我
們計畫推動一個高ROI模式，以產生強大的自由現金流和有吸引力的股東回報。"

應用材料公司投資者會議的重播，以及演講和相關資料，可在公司網站
http://www.appliedmaterials.com/company/investor-relations。

非公認會計準則和其他財務措施
自由現金流定義為經營性現金流減去淨資本支出。非美國通用會計準則與美國通用會計準
則衡量標準的對賬載于2021年投資者會議演示文稿，可在公司網站投資者頁面上查閱。非
美國通用會計準則調整後的每股收益和毛利率及營業利潤率目標假設未來期間適用的非美
國通用會計準則調整，由於其固有的不確定性，我們無法在沒有不合理努力的情況下預測
。管理層使用非美國通用會計準則調整後的財務措施來評估公司的經營和財務業績，並用
於規劃目的。應用公司相信，這些衡量標準能提高投資者從與公司管理層相同的角度審視
公司業務的能力，並便於在一致的基礎上進行不同時期的比較。使用非公認會計準則的財
務計量方法有一定的局限性，因為它們不是按照公認會計準則編制的，可能與其他公司使
用的非公認會計準則的會計和報告方法不同。

前瞻性聲明
本新聞稿包含前瞻性陳述，包括有關我們的業務和市場的預期增長和趨勢、行業前景和需
求驅動因素、技術轉型、我們的業務和財務業績及市場份額、我們的資本分配和現金部署
策略、我們的投資和增長策略、我們的新產品和技術的開發、我們到2024財年的業務前景
以及其他非歷史事實的陳述。這些陳述及其相關假設存在風險和不確定性，並不保證未來
業績。可能導致實際結果與這些陳述所表達或暗示的結果有實質性差異的因素包括但不限
於：對我們產品的需求水準；全球經濟和行業狀況；區域或全球衛生流行病的影響，包括
正在進行的COVID-19流行病的嚴重性和持續時間；全球貿易問題以及貿易和出口許可證政
策的變化，包括美國商務部最近頒佈的擴大出口許可證要求的規則和解釋。美國商務部擴
大了對出售給中國某些實體的某些產品的出口許可證要求；消費者對電子產品的需求；對
半導體的需求；客戶對技術和產能的要求；新技術和創新技術的引入，以及技術過渡的時
機；我們開發、交付和支援新產品和技術的能力；我們客戶群的集中性；收購、投資和資
產剝離；所得稅法的變化；我們擴大現有市場、增加市場份額和開發新市場的能力；市場
對現有和新開發產品的接受程度。我們獲得和保護關鍵技術智慧財產權的能力；我們實現
運營和戰略計畫目標的能力，使我們的資源和成本結構與業務條件相適應，以及吸引、激
勵和留住關鍵員工的能力；不同產品和部門之間運營費用和結果的差異性，以及我們準確
預測未來結果、市場條件、客戶要求和業務需求的能力；我們確保遵守適用法律、規則和
法規的能力；以及我們向美國證券交易委員會提交的檔中描述的其他風險和不確定性，包
括我們最近的10-Q和8-K表格。所有前瞻性聲明均基於管理層當前的估計、預測和假設，
我們不承擔更新這些聲明的義務。

關於應用材料公司
應用材料公司（Nasdaq: AMAT）是材料工程解決方案的領導者。(Nasdaq: AMAT)是材料工
程解決方案領域的領軍企業，幾乎用於生產世界上所有的新型晶片和先進顯示器。我們在
原子級和工業規模的材料改性方面的專業知識，使客戶能夠將各種可能性轉化為現實。在
應用材料公司，我們的創新使塑造未來的技術成為可能。欲瞭解更多資訊，請訪問
www.appliedmaterials.com。


心得/評論：


應材新聞稿，裡面有大量客戶的發言(背書?)

當然也包括台積電的劉德音董事長

裡面有很多細項還需要逐個細部深入去看。

簡單來說，個人認為AMAT給出的成長預測相當保守，實現的機會很高。

這就是半導體製程相關公司的特色

就算想吹牛也吹不起來

現在的價格也算是短期高點了

除非打算做三到五年的資產配置不打算炒短線



昨天的股價也很好的反應了這一點

--