Temperatures are cooling off, but the path is still clear
- Order activity for semiconductor equipment continued to trend down, slipping to 89 degrees
- The rate of decline has moderated in the last two weeks following a steep drop in June
- The sentiment at SEMICON West was positive
- Equipment manufacturers continue to see a strong demand environment
- Although the macro headwinds are a concern for 2023, they’re not having any impact on the equipment market so far
- The biggest challenge for equipment suppliers remains the supply chain constraints
- While these constraints are not getting worse, they’re not improving fast enough to drive the big growth that we were expecting in 2H22 to hit our forecast of 18%
- As a result, we are lowering the equipment forecast to 13% for 2022
- The deferred revenues of 2022 will roll into next year, boosting semiconductor equipment growth by nearly 4 points to +5%.
- TechInsights’ Chip Price Performance Index tumbled
- DRAM plunged
- NAND plunged
- MPUs fell
- Utilization rates remain high
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