02.12.2001
Opinions differ as to the 'when' of semiconductor recovery

• While TSMC's (2330 'Tai Ji Dian') position on the semiconductor sector is that a recovery is expected as early as 2Q01, during a recent industry seminar Sony Electronics (JP) predicted that the sector would not turn around until mid-2002, and Tokyo Electron (JP) that recovery may not materialize at all in 2002 as supply expands with augmented 300mm fab operation.

• It is generally held that the semiconductor industry is demand driven, and we expect recovery to kick in once inventory correction is complete.

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