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It's no secret that sales of semiconductor equipment and materials have been declining over the past twelve months. With that in mind many executives as well as analysts are trying to determine when the downward spiral will end. In a report issued by the Semiconductor Industry Association (SIA), the association says it expects to see slow growth of approximately six percent in 2002, or sales of $150 billion. However, in 2003 and 2004 the group predicts a jump in sales of 21 percent, with sales of 181 billion and $218 billion, respectively (see chart for a breakdown of sales for each region). “History shows that through upturns and downturns, this industry has always grown over the long-term, and while the exact timing and shape of the coming recovery is hard to predict, recovery is certain,” comments Rich Templeton, COO Texas Instruments. —MV