Muse forecast in a Jan. 13 report that semiconductor industry revenue will rise 11% in 2020. Major manufacturers have highlighted 5G drivers in their guidance. Those factors support "superior" free cash flow margins, even during cyclical troughs, he says.Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. "The structurally improving quality of semiconductor companies shined through the recent inventory correction," he said. "This fiscal Q1, we had positive free cash flow of $80 million. After what is expected to be a relatively weak 2019, we anticipate that the semiconductor market will recover in 2020 and continue to prosper. In essence, the tailing off of the semiconductor cycle signaled a recovery in the fourth quarter of 2019: chip shipments started growing in the region, making the inventory levels decline rapidly. Authors may own the stocks they discuss.
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"China has a roughly $100 billion checkbook and they're using it to become independent in the semiconductor industry. Muse forecast in a Jan. 13 report that semiconductor industry revenue will rise 11% in 2020.Investors in semiconductor stocks could hardly be blamed if they headed into January feeling a fear of heights. A temporary logistics network disarray seems to be a minor problem though. "So, in the short term, there may not be a risk to sales to China," he said. With competition from new startups and entrants from other corners of the tech world, the race to capture the market is only intensifying.Telecom companies are struggling to find a profitable identity in today’s digital sphere. But Deutsche Bank analyst Ross Seymore says the pace of the semiconductor industry recovery may not match the optimism implied in the SOX index. These companies provide the equipment and technologies that enable manufacturing of the microscopic-scale circuitry that drives the chip industry. The downturn soon spread to other chip markets amid softening sales of smartphones, PCs and other products.They provide the ingredient technologies for personal computers, tablets, smartphones and other gadgets. He believes Broadcom, Nvidia and NXP Semiconductors can outperform in 2020.Marvell and Applied Materials traded near buy points on Friday. "The U.S.-China trade war hurt U.S. chipmakers as the Trump administration imposed export bans specifically on certain technology products. Semiconductor companies are seeing the benefit of deep competitive moats, higher barriers to entry, and rising silicon content in products ranging from smartphones to automobiles. After what is expected to be a relatively weak 2019, we anticipate that the semiconductor market will recover in 2020 and continue to prosper.
Strong semiconductor industry growth set to continue as artificial intelligence adds to demand.
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