| dc.contributor.advisor | 劉助 | zh_TW |
| dc.contributor.advisor | Liu, James | en_US |
| dc.contributor.author (Authors) | 張鼎昱 | zh_TW |
| dc.contributor.author (Authors) | Chang, Roger | en_US |
| dc.creator (作者) | 張鼎昱 | zh_TW |
| dc.creator (作者) | Chang, Roger | en_US |
| dc.date (日期) | 2010 | en_US |
| dc.date.accessioned | 5-Oct-2011 14:34:28 (UTC+8) | - |
| dc.date.available | 5-Oct-2011 14:34:28 (UTC+8) | - |
| dc.date.issued (上傳時間) | 5-Oct-2011 14:34:28 (UTC+8) | - |
| dc.identifier (Other Identifiers) | G0096933019 | en_US |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/51239 | - |
| dc.description (描述) | 碩士 | zh_TW |
| dc.description (描述) | 國立政治大學 | zh_TW |
| dc.description (描述) | 國際經營管理英語碩士學位學程(IMBA) | zh_TW |
| dc.description (描述) | 96933019 | zh_TW |
| dc.description (描述) | 99 | zh_TW |
| dc.description.abstract (摘要) | 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. | en_US |
| dc.description.tableofcontents | 1. Introduction 11.1. Motivation and Goal 11.2. Methodology 21.3. The PC industry today 22. Background information of the Big Three 42.1. Intel 42.1.1. Intel SWOT analysis 52.2. Advanced Micro Devices (AMD) 52.2.1. AMD SWOT analysis 72.3. VIA Technology 72.3.1. VIA Technology SWOT analysis 92.4. Product comparison of the companies 92.5. Market share 103. Financial Analysis 133.1. Important numbers 133.2. Comparisons between the companies 153.2.1. General comparisons 153.2.1.1. Revenue 153.2.1.2. Gross profit margin 163.2.1.3. Net profit 163.2.1.4. Cash and cash equivalents 183.2.1.5. Working capital 183.2.1.6. Required operating assets 193.2.2. Cash flow comparison 213.2.2.1. Free cash flow 213.2.2.2. Financial activities 223.2.2.3. Overall cash flow 233.2.3. Comparison in quality of the companies 243.2.3.1. Growth of EBIT 243.2.3.2. Competitiveness 263.2.3.3. Return on resources 273.2.3.4. Internal management efficiency 283.2.4. Risk management of the companies 293.2.4.1. Operating risk 303.2.4.2. Investment risk (expansion risk) 313.2.4.3. Financial risk 313.2.4.4. Survivability risk 323.2.5. Profit Model Map 343.2.6. Enterprise value 353.2.7. EV / share against stock price 374. Conclusions 404.1. Summary of comparison of the metrics 404.2. Long term investment advice 404.3. Advices to the management team 414.3.1. Advices to Intel 414.3.2. Advices to AMD 424.3.3. Advices to VIA Technology 435. Appendix 445.1. Glossary 445.2. x86 PC structure 455.2.1. Traditional and common structure 465.2.2. AMD Fusion structure 465.3. Additional product performance comparisons 475.4. Calculations for Intel, AMD and VIA Technology 485.4.1. Intel 485.4.2. AMD 495.4.3. VIA Tech 50Reference 51 | zh_TW |
| dc.language.iso | en_US | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0096933019 | en_US |
| dc.subject (關鍵詞) | 晶片製造 | zh_TW |
| dc.subject (關鍵詞) | 財務 | zh_TW |
| dc.title (題名) | 三大電腦晶片製造商之財務比較 | zh_TW |
| dc.title (題名) | A comparison of major computer chipset vendors in financial point of view | en_US |
| dc.type (資料類型) | thesis | en |
| dc.relation.reference (參考文獻) | 【1】 Dr. James Liu. 2008. | zh_TW |
| dc.relation.reference (參考文獻) | Profit Model handout | zh_TW |
| dc.relation.reference (參考文獻) | 【2】 Intel home page | zh_TW |
| dc.relation.reference (參考文獻) | http://www.intel.com | zh_TW |
| dc.relation.reference (參考文獻) | 【3】 AMD home page | zh_TW |
| dc.relation.reference (參考文獻) | http://www.amd.com | zh_TW |
| dc.relation.reference (參考文獻) | 【4】 VIA Technology home page | zh_TW |
| dc.relation.reference (參考文獻) | http://www.viatech.com.tw | zh_TW |
| dc.relation.reference (參考文獻) | 【5】 Taiwan Market Observation Post System | zh_TW |
| dc.relation.reference (參考文獻) | http://mops.twse.com.tw | zh_TW |
| dc.relation.reference (參考文獻) | 【6】 Wikipedia | zh_TW |
| dc.relation.reference (參考文獻) | http://en.wikipedia.org/wiki/Main_Page | zh_TW |
| dc.relation.reference (參考文獻) | 【7】 Anton Shilov. 2001. Unit Growth of Microprocessor Market Begins to slow down - IDC. | zh_TW |
| dc.relation.reference (參考文獻) | http://www.xbitlabs.com/news/cpu/display/20110225220332_Unit_Growth_of_Microprocessor_Market_Begins_to_Slow_Down_IDC.html | zh_TW |
| dc.relation.reference (參考文獻) | 【8】 楊旭. 2011. ATOM/ION靠邊站 AMD E350 深度評測 | zh_TW |
| dc.relation.reference (參考文獻) | http://tech.hexun.com.tw/2011-01-29/127098371.html | zh_TW |
| dc.relation.reference (參考文獻) | 【9】 Agam Shah. 2003. Intel, VIA Settle All Patent Cases. | zh_TW |
| dc.relation.reference (參考文獻) | http://www.pcworld.com/article/110172/intel_via_settle_all_patent_cases.html | zh_TW |
| dc.relation.reference (參考文獻) | 【10】 Taiwan Economic News. 2003. VIA, Intel reach patent suit settlement, to jointly face competitors | zh_TW |
| dc.relation.reference (參考文獻) | http://www.cens.com/cens/html/en/news/news_inner_16038.html | zh_TW |
| dc.relation.reference (參考文獻) | 【11】 China Times. 2011. 轉投資賺錢 威盛虧轉盈在望 | zh_TW |
| dc.relation.reference (參考文獻) | http://money.chinatimes.com/news/news-content.aspx?id=20110513000194&cid=1204 | zh_TW |
