other
Analyst unit cited for the view that higher average selling prices cushioned the shipment fall, an EV segment growth estimate of around 20 percent, and soft connected-devices revenue.
Capital spending of $9.98bn in one quarter bought 45% AI cloud growth, a 12% segment margin and a $6.58bn free cash outflow. The trade is now explicit in the accounts.
Reality
Export controls walled off China's AI demand from TSMC and Samsung. SMIC, the only domestic route to 7nm-class logic, is now repricing the captive pool it inherited.
Reality
Bloomberg Intelligence says nine tenths of last month's net time-deposit inflow at the five major banks came from companies. Chipmakers locking in fixed rates make bank funding dearer for everyone else.
Reality
The third straight profit decline came with smartphone gross margin at 8.5 percent, down from 11.5 percent, as memory suppliers shift capacity to AI. The cost is already reaching buyers.
Reality