A Semiconductor Downturn's Coming, But How Bad Will It Be?
During June three important semiconductor forecasts were released. While one predicts growth through 2019, the other two agree that a downturn is...
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U.S. Equity Strategy:Â Upgrading Utilities; Downgrading Manufacturing
The U.S. market continues to flash mixed signals, most recently Utilities have shown a big climb in our relative strength rankings. Given mixed...
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We Are Raising Our Chip Equipment Estimates for 2018 as Recent Strength Set to Persist
After taking a fresh look at our semiconductor capital equipment coverage, we are raising our 2018 equipment market growth rate from 3% to 10%. Our...
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TSMC Expects Stronger Sales but Lower Capex Density, Implying Room to Raise Cash Dividends
SummaryDespite much in line 1Q18 guidance (8-10% q/q sales decline, 49.5-51.5% gross margin, 38-40% operating margin), most of the incremental new...
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2017 Semiconductor Equipment Spending On Track For a Record $55.9 Billion
On December 12'th 2017, SEMI, the global industry association representing the electronics manufacturing supply chain, projected that worldwide...
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