Bearish conditions abound
Andrea Lati
- Order activity for semiconductor equipment extended its decline, slipping to 76 degrees
- While the overall order activity remains in positive territory, it’s gradually approaching the Growth-Decline line
- Memory led the decline, hitting a new low for the year
- The 2022 IC forecast was downgraded to 5% from 7% in the previous update due to faster-than-expected deteriorating conditions in 2H22
- The IC forecast for 2023 was also downgraded to -6% from -4% due to soaring levels of inventories and a weaker macro background
- The equipment forecast for 2022 was lowered from +10% to +8% due to exchange rate effects and import restrictions in China
- The 2023 Equipment forecast was also downgraded to -14% from -5% due to significantly weaker memory spending in 2023
- TechInsights’ Chip Price Performance Index continued to trend lower
- DRAM fell
- NAND fell
- MPUs flat
- Chip Making Equipment orders have been falling
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