NVDA - Analysts see ongoing chip strength in March data despite some seasonal slowness

Looking back over March's semiconductor sales data, Wall Street analysts are positive about what's seen as "robust," broad strength - even if it's normalized a bit for the season after a strong February. The weekend brought news from the Semiconductor Industry Association that global chip sales rose 1.1% in March from February, to $50.6 billion; that brought Q1 to $151.7 billion (up 23% year-over-year - but down 0.5% from the fourth quarter). Growth was below seasonal on a sequential basis, Evercore analyst C.J. Muse says - driven mainly by Memory, discrete, and MCU - but year-over-year growth is "broad-based, supported by favorable pricing trends." The firm is maintaining its calendar 2022 revenue forecast for the industry (and notes the Street's now in line with its view) - for revenue growth of 17% to $650 billion. Muse also expects a "soft landing" for chips in 2023, down 5% year-over-year. "With cycle

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Analysts see ongoing chip strength in March data despite some seasonal slowness