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Edgewater Research: Electronic Component Weekly Digest - Mar 04

Dennis Reed
|  Created: March 4, 2024  |  Updated: July 1, 2024

Weekly Industry Insights: Manufacturing PMIs and Market Trends

 

Edgewater Research

 

 

 

 

Manufacturing Sector Overview

  • Eurozone Manufacturing PMI: In February, the Eurozone's manufacturing Purchasing Managers' Index (PMI) slightly decreased to 46.5 from 46.6 in January. Despite this minor decline, there are early signs of recovery, with new orders and purchasing activities dropping at their slowest rate since March 2023. The overall outlook for the year remains optimistic, matching January's nine-month high.
  • Germany's Challenges: Contrarily, Germany faces a tougher situation, with its PMI dropping to 42.5 from 45.5, indicating a faster decline in output and new orders.
  • China's Manufacturing Data: The official manufacturing PMI fell slightly to 49.1 in February from 49.2 in January. However, the Caixin PMI, a private measure, showed a slight improvement.
  • US Manufacturing Trends: The ISM manufacturing PMI in the US fell to 47.8 from 49.1, reflecting a decrease in new orders and employment, suggesting a cautious outlook. Meanwhile, S&P's US PMI for February showed an improvement, signaling a renewed increase in output and new orders.

Automotive Industry Highlights

  • EV Developments and Challenges: Aston Martin has postponed its first EV launch to 2026, while Apple has scrapped its electric car project. Conversely, companies like BYD and Nissan are actively expanding their EV and autonomous driving initiatives, despite facing competitive challenges and economic uncertainties.
  • Market Dynamics: Automakers are adjusting their strategies in response to regulatory mandates, market competition, and consumer demand, with Tesla adjusting its pricing and incentives to navigate the competitive landscape.

Datacenter and Semiconductor News

  • Server and AI Growth: Global server shipments are expected to grow slightly, with a notable increase in AI-focused units. Companies like Dell and HPE are adjusting their strategies amidst evolving market demands.
  • Semiconductor Milestones and Shifts: Significant developments include ASML's progress with EUV technology, Broadcom's divestiture, and Intel's ambitious sales goals for AI CPUs. The industry is also closely watching the allocation of US federal subsidies.

Other Market Movements

  • Consumer Electronics: Apple and HP Inc face challenges with demand for iPhones and PCs, prompting strategic price adjustments and reflecting broader market trends.

This summary provides a snapshot of the latest developments across manufacturing, automotive, datacenter, and semiconductor sectors, highlighting key trends and strategic responses to the changing market landscape.

About Author

About Author

Dennis Reed is a Senior Research Analyst in Technology. Dennis started in the industry in 2005 at FTN Midwest Research on the technology & semiconductor team. In 2006, he was a founding member of Cleveland Research Company and continued to develop and extensive network of technology industry professionals in the semiconductor, distribution, memory and HDD industries throughout the world. Dennis worked at KeyBanc Capital markets in New York, on teams covering Consumer Staples and Paper & Packing companies. Dennis also brings wide level of experience working in various roles with Travelers Insurance, including Market Research and various product roles supporting business unit growth in targeted end markets. Dennis is a 2002 graduate of Ohio University with a major in Sports Management.

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