Microchip CEO Steve Sanghi, his attitude somber, shared some economic insights with EE Times, during the ACE Awards reception Tuesday (March 31).

Asked if there is a particular segment of the electronics market that's "recession-resistant" or that's giving Microchip any relief, Sanghi said, without missing a beat: "There is none."

Automotive is down, industrial and consumer markets are also slumping, Sanghi said.

Jeff Bier, a founder and president of Berkeley Design Technology, Inc., suggested that the wireless infrastructure may be an exception to the rule. Many U.S. cellular operators are busily investing in building out the 3G wireless data infrastructure, Bier explained.

Maybe so, said Sanghi, but that alone won't be a savior for the semiconductor industry. Most chip companies have suffered a 30 to 40 percent revenue reduction in the last two quarters alone, he stressed.

Asked if he agrees with some market predictions that the economy may finally start recovering early next year, Sanghi hedged, saying "Next year seems eternal."

Sanghi is undoubtedly looking to the third quarter for the global economy to start turning around. He said the electronics market may be hitting bottom soon. "We are also seeing a few signs. . . like the housing market is beginning to come back," said Sanghi.

Is the U.S. economic stimulus package plan helpful to chip companies like Microchip?

The Microchip CEO acknowledged that the stimulus money may ultimately encourage the development of smart buildings and smart grids -- which could, in turn, help the semiconductor market.

He added: "None of that stimulus package money has been spent in the United States--yet."

In contrast, Microchip is feeling the impact of overseas stimulus initiatives that are lifting some markets abroad.