Chip Equipment: U-Shaped Move
NEW YORK (TheStreet) -- The semiconductor-equipment market's recovery, which we pointed out last week appears to have begun, will exhibit a U-shaped trend, based on proprietary leading indicators.
Our proprietary leading indicators, which determine inflection points in economic activity and which we utilize to show turning points in semiconductor-equipment sales, have turned positive for the past three months and are exhibiting U-shaped growth so far.
Based on past cycles, there is a corresponding shape to the semiconductor-equipment market, so we postulate that the growth will also exhibit a U shaped behavior.
For 2009, we forecast that the semiconductor equipment market will drop 46%. Most importantly, based again on our proprietary leading indicators, growth will continue through 2012, increasing 20% in 2010 and 49% in 2011.
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