Mr. Gerra: I cover a mix of large caps and small-cap names, semiconductor components only. Among large-cap names, we cover Intel, Texas Instruments (TXN), STMicro (STM), and Broadcom (BRCM). Analog names under coverage include ON Semi, Fairchild (FCS), Diodes (DIOD), Monolithic Power (MPWR) along with Analog Devices (ADI). We cover a couple of memory companies, SanDisk (SNDK) and Micron, as well as communication names, including NetLogic (NETL) and Broadcom.
TWST: What is the status of the semiconductor component sector right now?
Mr. Gerra: We continue to expect an upcycle for most of this year, which would be a continuation of what we saw since last February of 2009. The reason we believe the cycle would extend a few more quarters is that the inventory levels remain at historic lows in the supply chain. We've seen a slow resumption in true end demand, and the supply chain hasn't been able to catch up. So we think that until we see the supply chain normalizing, we think trends are going to continue to be above seasonal for semiconductor companies.
Tickers included in this excerpt: 2408.TW, INTC, MU, ONNN
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