Chip demand cooling
G. Dan Hutcheson
Semiconductor sales jumped >15% W/Y last week. Sales are closing in on 2021 levels. The IC weather cooled 1°F last week. Zooming in on Logic growth this week, 13 -wk MA growth has dipped below 2021 levels. Growth is forecast to finish 2022 around +15% Y/Y, reaching $294B. April forecast revisions were minimal.
TechInsights' IC Supply/Demand indices held in Tight. Chip demand is cooling as inflation, COVID lockdowns in China, and Russia's war work to accelerate the shortage's steady easing. China's GDP growth was down by 74% in 1Q22 Y/Y. Reduced electric auto production in China is helping ease shortages of Auto ICs, though they remain in shortage as demand is high despite inflation. Inflation is affecting Electronics' Retail Prices.
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