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    政大典藏 > College of Commerce > International MBA > Theses >  Item 140.119/51239
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/51239


    Title: 三大電腦晶片製造商之財務比較
    A comparison of major computer chipset vendors in financial point of view
    Authors: 張鼎昱
    Chang, Roger
    Contributors: 劉助
    Liu, James
    張鼎昱
    Chang, Roger
    Keywords: 晶片製造
    財務
    Date: 2010
    Issue Date: 2011-10-05 14:34:28 (UTC+8)
    Abstract: The goal of this master thesis is to analyze the three major chipset players in today’s Personal Computer (PC) industry, while providing recommendations in different perspectives. One of the perspectives is from the investor’s point of view to single out a company with the most long term investment value. The other is from each company’s management point of view to suggest for the areas of improvement for the companies. Two of the three companies discussed in this thesis are American-based global companies namely, Intel and AMD, while the other is a Taiwanese company: VIA Technology.

    Various analyses were made to evaluate each company. In the general comparison of the companies, each company’s background information, product competitiveness, SWOT analysis and market share were discussed. In the finance diagnostics for each company, financial data from 2007 to 2010 were used as the basis in revealing a company’s quality and its ability to manage different types of risks. Enterprise value (EV), which was derived from the financial report, reflects a company’s true value. And each company’s EV per share was compared against their stock prices to see whether their stock prices have been reasonable or not.

    In conclusion, as an investor, Intel is the best choice for long term investment because of its scale and profitability. And as of the end of 2010, Intel’s stock price was below its enterprise value per share, so there was room for its stock price to rise. In addition, from the profit model map, Intel is located very close in region A in 2010 and it shows Intel is a very well-managed and profitable company.

    In management point of view, Intel would need to find its place in the emerging tablet PC market, which is being dominated by ARM architecture, as opposed to the x86 architecture in which Intel specializes at. AMD needs to improve on its visibility in the market, as AMD is rarely being seen on TV commercials or magazine advertisement. Via Technology can move to a niche market in order to avoid the 99% combined market share by Intel and AMD in the consumer PC market and be profitable again.
    Reference: 【1】 Dr. James Liu. 2008.
    Profit Model handout
    【2】 Intel home page
    http://www.intel.com
    【3】 AMD home page
    http://www.amd.com
    【4】 VIA Technology home page
    http://www.viatech.com.tw
    【5】 Taiwan Market Observation Post System
    http://mops.twse.com.tw
    【6】 Wikipedia
    http://en.wikipedia.org/wiki/Main_Page
    【7】 Anton Shilov. 2001. Unit Growth of Microprocessor Market Begins to slow down - IDC.
    http://www.xbitlabs.com/news/cpu/display/20110225220332_Unit_Growth_of_Microprocessor_Market_Begins_to_Slow_Down_IDC.html
    【8】 楊旭. 2011. ATOM/ION靠邊站 AMD E350 深度評測
    http://tech.hexun.com.tw/2011-01-29/127098371.html
    【9】 Agam Shah. 2003. Intel, VIA Settle All Patent Cases.
    http://www.pcworld.com/article/110172/intel_via_settle_all_patent_cases.html
    【10】 Taiwan Economic News. 2003. VIA, Intel reach patent suit settlement, to jointly face competitors
    http://www.cens.com/cens/html/en/news/news_inner_16038.html
    【11】 China Times. 2011. 轉投資賺錢 威盛虧轉盈在望
    http://money.chinatimes.com/news/news-content.aspx?id=20110513000194&cid=1204
    Description: 碩士
    國立政治大學
    國際經營管理英語碩士學位學程(IMBA)
    96933019
    99
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0096933019
    Data Type: thesis
    Appears in Collections:[International MBA] Theses

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