Bernstein_中国半导体设备:我们能从全球并购交易中学到什么?
聚焦Bernstein_中国半导体设备:我们能从全球并购交易中学到什么?。competition (Exhibit 4). We believe it’s because competition primarily confined to existing leaders—preventing unhealthy price wars from startups. While margins for lagging products do decline over time, new products generally command higher margins.