Analog & Power Rising Like 2021
G. Dan Hutcheson
Semiconductor sales were flat W/W in the second week of March. Though still high Y/Y, it was abnormally weak. The IC weather cooled another 1°F last week. Zooming in on Analog & Power this week, 13-wk MA growth has risen like it did in 2021 and is now around 30% Y/Y. Growth is forecasted to finish 2022 around +16% Y/Y, reaching $110B.
TechInsights' IC Supply/Demand indices were mostly unchanged last week, with More than Moore Foundry the only segment to tighten. Slight improvements also shifted the 1Q22 NowCast for Foundry up a level to Loose. Overall conditions remain Tight, where they have been since 24 Sep 21. So far, there are no indications of a Macro recoupling in the data. Given the history, we do believe it will appear on the horizon.
Electronics' Retail Price MAs continue to soar. But there are signs of weakness in PCs and Consumer.