According to WSTS, the global semiconductor market grew by 8. in the fourth quarter of 2023 compared to the third quarter of 20234%。8.The 4% quarterly growth rate is 9Highest quarterly growth rate since 1%. It was also the highest increase in the third to fourth quarter in 20 years, since the 11 percent increase in the fourth quarter of 2003. The fourth quarter of 2023 increased by 116%, after five quarters of negative year-on-year growth. Semiconductors
Changes in the semiconductor market in 2024.
Strong growth in the fourth quarter of 2023Mostly memory-driven。All major memory companies reported healthy revenue growth in the fourth quarter of 2023 compared to the third quarter of 2023. In US dollar terms, Samsung's memory business grew by 49% and SK hynix grew by 241%, Micron Technology grew by 179%。In US dollar terms, the weighted average revenue growth for all three businesses was 33%. The 12 largest non-memory companies reported a weighted average revenue growth rate of 4% in the fourth quarter of 2023. The largest increase in non-memory companies was MediaTek 177%, Qualcomm 142%, Nvidia 104%。Seven of these non-memory companies reported a decline in revenue in the fourth quarter of 2023, the largest decrease was in Infineon Technologies 102%, Texas Instruments 100%, ADI Devices 80%。
2023 Semiconductor Revenue Rankings.
In addition to memory companies,Revenue in the first quarter of 024 was mostly negative compared to the fourth quarter of 2023. Micron expects growth of 121%。Samsung and SK hynix did not provide specific guidance, but both companies said that memory demand continues to be strong. The nine non-memory companies that provided revenue guidance expect a decline in the first quarter of 2024 from Infineon's 2.5 percent8% to 17 for Intel6% ranged. The expected decline was blamed on seasonality, excess inventories, and weakness in the industrial sector
The 2024 outlook on the main drivers of the semiconductor market helps to explain the differences. Smartphone shipments fell by 32%, but IDC expects it to be between ** and 38% growth. Smartphones drove revenue growth for memory companies, as well as Qualcomm and MediaTek. PC shipments are down sharply by 14% in 2023. IDC expects the growth rate of personal computers to reach 34%。PCs** favor memory companies and processor companies (Intel, Nvidia, and AMD).
Key Semiconductors Drive 2023
The automotive and industrial markets have been the main revenues for several companies due to weakness in other end markets**. However, it seems that the growth in car production will end in 2024. S&P Global Mobility**, light vehicle production is set to decline by 04%。Standard & Poor's said that automotive production and inventory replenishment have met post-pandemic demand and have now exceeded current customer demand. According to Interact Analysis, the growth rate of the global manufacturing (industrial production) is expected to increase from 20% slowed down to 0. in 20243%。This indicates a slowdown in demand from the industrial sector. The slowdown in the automotive and industrial sectors primarily affected STMicroelectronics, Texas Instruments, Infineon Technologies, NXP Semiconductors, Analog Devices, and Renesas.
In fact, the development of these companies is also as expected, judging from the first quarter 2024 revenue ** announced by the European semiconductor troika, the semiconductor start of this year is not very optimistic.
German chipmaker Infineon reported its first-quarter results. Among them, the company expects revenue to be lower than expected this year, as it is hit by a general decline in semiconductor demand from industrial customers.
According to Infineon's financial report, Q1 revenue fell 6% year-on-year to 3.7 billion euros, below analysts' expectations of 38400 million euros. In terms of segments, the revenue of the automotive business segment: 208.5 billion euros; Green Industrial Power segment revenue: 48.7 billion euros; Power & Sensor Systems segment revenue: 76.5 billion euros; Connected Security Systems segment revenue: 36.4 billion euros.
The company expects the second quarter to be particularly difficult as sales of power and sensor chips for industrial applications will fall "significantly". Sales are expected to fall to 3.6 billion euros in the second quarter, below the average analyst estimate of 40.0600 million euros. Infineon said it expects a profit margin of about 18 percent for the division as a whole in the second quarter, below analysts' expectations of 231%。
Infineon also lowered its outlook for 2024, raising its revenue forecast to 15,516.5 billion euros, down from its previous forecast of 16,517.5 billion euros, due to a general decline in semiconductor demand from industrial customers.
European chipmaker STMicroelectronics reported net income of 42800 million US dollars, down 32%, ST also estimated first-quarter revenue of $3.6 billion, down from 42$500 million, also 11% below analysts' consensus estimates.
NXP's fourth-quarter revenue was 34$200 million, up 3% year-on-year, better than market expectations of $3.4 billion; Adjusted earnings per share were 3$71, up from $3 in the same period last year$73 was close to flat, better than the market expectation of 3$64. NXP expects revenue of 302.5 billion to 32$2.5 billion, compared to analyst expectations of $3.1$700 million; Adjusted earnings per share were 297 to 3$38, analysts expected 3$17.
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