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Analyst sees steeper decline in PC, electronics sales

Posted: 15 Mar 2011 ?? ?Print Version ?Bookmark and Share

Keywords:processor? semiconductor? ODM? motherboard?

The first three months of 2011 saw a larger-than-expected decline in the production of PCs and consumer electronics goods, according to Gary Mobley of Benchmark Capital.

The analyst said that sales data for January and February released by Taiwan electronics companies such as ODMs, motherboard suppliers and chip companies showed an 18 percent sequential decline for February. The decline may be due to a design flaw in Intel's Sandy Bridge processor and the Lunar New Year, he added.

Mobley expects Taiwan electronics manufacturers to post a roughly 20 percent decline in first-quarter sales compared to the fourth quarter of 2010, even if sales rebound in March. The projected decline is higher than the usual 10 to 15 percent decline that is typical for the period.

"We view this data as a slight negative for the chip group, and we believe chip stocks could continue to come under selling pressure following a recent run-up in the group," Mobley wrote in a report.

Last month, Benchmark Capital reduced its rating on semiconductor sector stocks to "market weight" from "overweight."

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