The following is an excerpt from Investors’ Soapbox PM | November 22, 2011 | online.barrons.com
Intel and Altera are the best in the sector as inventory days near a peak.
Macquarie Capital (USA)
After third-quarter results from Hewlett-Packard and Tech Data this week we analyzed inventory levels at companies in the PC original-equipment manufacturer, communication OEM, contract manufacturer, handset OEM, carrier, electronic retailer and distribution channels. Overall inventories grew one day, and remained above normal levels in the third quarter.
We collected data from a selection of companies in many segments of the semiconductor supply chain. We estimate average days of inventory for the total semiconductor supply chain grew one day quarter-over-quarter to 44 days in the third quarter, above a five-year average of 42 days for the third quarter.
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