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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 237.71+2.0%Nov 3 3:59 PM EST
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To: Gottfried who wrote (9110)3/8/2004 9:43:21 AM
From: Proud_Infidel  Read Replies (1) of 25522
 
Semi Sales Flatten

By James Haughey, Director of Economics, Reed Business Information -- Electronic News, 3/8/2004

Worldwide semiconductor sales declined 2.4 percent in January according to the Semiconductor Industry Association (SIA) on the three-month rolling average basis used in their reports. Sales declined 1.5 percent from December to January based on Electronic News’ seasonal adjustment of the SIA figures. Seasonally adjusted sales have been essentially flat for four months following the nearly 30 percent jump earlier in 2003.

January sales were especially weak for PC processors in advance of a February Intel price reduction, and for wireless telecom as the distribution pipeline filled up with enhanced feature handsets. Wireline telecom was the strongest January market with sales increases recorded for PLD’s, analog and standard cells.

Slower semiconductor sales growth around year’s end is consistent with earlier reports of a significant worldwide slowdown in the growth of consumer spending in the same period, especially in the United States. It is simply a pause after the huge surge in consumer buying earlier last year.

This pause is temporary. Sales growth should resume early in 2004 at about a 20 percent annual pace. The renewed sales surge will be driven by a mini-spending boom this spring in the United States when 20 percent bigger tax refunds are received, as well as the ongoing turn from recession to expansion in Europe and an expected strong pickup in business IT spending.
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