Temperatures are cooling off, but the path is still clear
- Order activity for semiconductor equipment continued to cool off, slipping to 88 degrees
- Despite the recent slowdown, order activity remains in a healthy expansion phase
- Bookings and backlogs are still hovering at record levels, especially for WFE suppliers
- Although the memory market has been eroding in 2H22, demand for semiconductor equipment remains strong
- We expect the equipment market to remain supply-constrained throughout 2022, which is why last week we lowered the equipment forecast by five points to 13%
- Chipmakers will keep a closer eye on capacity expansions in 2023 in order to prevent overcapacity
- Memory manufacturers are already doing this and others could follow suit in 2023
- TechInsights’ Chip Price Performance Index continued to head south
- DRAM tumbled
- NAND plunged
- MPUs declined
- Planned capacity additions are rising
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