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CURRENT ECONOMIC MONITOR

GSA Hypothesis

The semiconductor industry will not go unscathed in this current environment. Start-ups needing additional rounds of funding and do not yet have a product and are not cash-flow positive are the most vulnerable. However, in general, the industry is in a much stronger position to weather this downturn than it was in 2001.

There is still growth among well-positioned companies.
Balance sheets are strong, particularly among fabless companies.
Inventories are lean.
Capital expenditures have already been reduced, so there will not be a glut of capacity to exacerbate this downturn.
Industry is more diverse from an end-market segment and geographical perspective.
R&D investments will result in next generation of opportunities.

Latest State of the Semiconductor Economy Article & Presentation

Throughout the current economic downturn, GSA is providing the industry with the latest data, resources and analysis supporting the GSA Hypothesis. We encourage you to download the articles and presentations for the most comprehensive analysis.

Current State of the Semiconductor Economy (December 2009, PDF, 631KB)
Download Slides (December 2009, PDF, 817KB)

The Recovery

Jodi Shelton was the keynote speaker at a CommNexus San Diego event in January. Her presentation, entitled "State of the Semiconductor Union: The Recovery" is available for download.