SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Sep 3, 2012) - The combined economic slowdowns of the U.S., China, and Europe negatively impacted semiconductor sales in the second quarter. Recent research from IHS iSuppli showed that global chip sales in the second quarter of 2012 declined 3 percent to $77 billion when compared to the second quarter of 2012. The Paragon Report examines investing opportunities in the Semiconductor Industry and provides equity research on Intel Corporation (NASDAQ: INTC) and SanDisk Corporation (NASDAQ: SNDK).
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As a result of an unfavorable economic environment analysts are predicting the global semiconductor market to decline for the first time in 3 years. IHS iSuppli recently revised their global semiconductor market chip revenue forecast to contract by 0.1 percent. Their previous forecast predicted a growth of less than 3 percent.
"The expected decline in 2012 represents a major event for the global semiconductor market. Throughout all of 2011, even though electronics markets were very weak, IHS never projected revenue to decline for the entire year. However, the disappointing results in the second quarter and weak third-quarter expectations driven by poor economic conditions are expected to cause the semiconductor market to retreat this year," said Dale Ford, senior director at IHS.
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Intel reported second quarter 2012 revenues of $13.5 billion, and net income of $2.8 billion. "The second quarter was highlighted by solid execution with continued strength in the data center and multiple product introductions in Ultrabooks and smartphones," said Paul Otellini, Intel president and CEO. "As we enter the third quarter, our growth will be slower than we anticipated due to a more challenging macroeconomic environment."
SanDisk Corporation is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for OEM and retail channels. The company reported that total second quarter revenue of $1.03 billion declined 25 percent on a year-over-year basis and declined 14 percent on a sequential basis
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