Value Investment in the Semiconductor Industry: A Case Study of Three Corporations

摘要

The semiconductor industry is one of the fastest-changing industries that have high barriers of entry, requiring workers to have high degree of profession, flexibility and innovation. Since recently the US has restricted the export of chips, for which semiconductors are the major components, the semiconductor industry underwent huge unrest for a few months. By looking into the financial performance of three influential companies in the semiconductor industry (Advanced Micro Device Incorporation (AMD), Micron Technology Incorporation (MU) and Lam Research Corporation (LRCX)), this study aims to identify which has the most valuable stock and analyze the changes these companies are undergoing. However, stock evaluation is mainly based on analysis of the value investment ratio, and there may be biases in the evaluation result due to differences in the corporate governance systems, accounting policies, and safety issues.