Forecasts by semiconductor companies for the next quarter have almost unanimously been lowered following Q2 earnings announcements.
- Intel (INTC) lowered its Q3 guidance, citing “a more challenging macroeconomic environment.”
- Taiwan Semiconductor (TSMC), however, expects to see a future dip in the company’s earnings due to weakening economic conditions in the U.S., where job growth is weak, and in other countries including Europe, Japan and China, according to CEO Morris Chang.
- Texas Instruments (TXN) cut its third-quarter outlook as customers pulled back on orders for its wireless products.
- Qualcomm (QCOM) sees sales softening, lowering outlook, but is upbeat on year-end smartphone demand.
The semiconductor industry in 2012 through June is currently DOWN 5.4% over the same period in 2011 based on Semiconductor Industry Association’s (SIA) 3-month moving average, as shown in the chart below.
