I think balance sheets are getting healthier. Yes, the stocks do reflect the growth of companies. From banks to semiconductors, balance sheets have been healed and that is reflected in the movement of the stocks
Hi Rich - both sets of global semiconductor sales numbers (the 3MMA and the monthly actuals) are self-consistent. As a matter of fact the SIA reports the 3MMA sales which are derived from the actual monthly sales as collected and subsequently published by the WSTS (World Semiconductor Trade Statistics) organization on their website - typically on the 7th of each month. The SIA in its monthly PR states the following regarding the semiconductor sales numbers that it reports:
"All monthly sales numbers are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average."
Relative to the SIA's monthly PR summarizing the GSR, Global Sales Report, the SIA points out the following
The SIA's Global Sales Report (GSR) is a three-month moving average of semiconductor sales activity. The GSR is tabulated by the World Semiconductor Trade Statistics (WSTS) organization, which represents approximately 55 semiconductor companies worldwide. The moving average is a mathematical smoothing technique that mitigates variations due to companies' various financial calendars.
Thanks for the additional analysis. Perhaps the differences in calculations reflect that three-month moving average that the SIA uses. Either way, record or not, it looks like things are growing, which after the last few years of economic stagnation is a good thing.
Hi Rich (again) - CORRECTION to my post below: 2013 sales growth expectation should be 4.1 percent NOT 3.1 percent (see below). The quoted 2013 forecast sales number, as stated, is correct - obviously a typo. Mike Cowan
Interesting. They said more and more people are out of work, yet, the industry is expanding because more people are buying stuffs. The industry has been healthy over the last few quarters and we can see that in the stocks.
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