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Edgewater Research: Electronics Supply Chain Weekly Digest - August 11, 2023

Dennis Reed
|  Created: August 14, 2023  |  Updated: July 1, 2024
|  Open as PDF
Important Disclosures in the Appendix

A weekly collection of news summaries, survey results and channel insights, and report summaries from Edgewater Research

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Edgewater Research

DATAPOINT OF THE WEEK: S&P reported Eurozone July flash PMI of 42.7 vs 43.4 in June, marking a 38-month low and reflecting worsening demand conditions across the board. S&P notes the decline in new orders in Europe notably exceeded that of output to a degree not seen since February 2009, hinting that companies will seek to reduce output further in the coming months, which has promoted companies to pullback on hiring and hinting at deepening downturn in the Eurozone in the coming months. In the US, S&P reported July flash mfg PMI of 49.0 vs 46.3 in June, reflecting stable output M/M and shallower drop in new orders M/M. Despite a slower contraction in new sales, manufacturers registered further decreases in input buying and holdings of both pre- and post-production inventories in July.   

Headlines:

Auto

  • Aptiv does not expect semi prices to cool off in the near future as supply remains tight
  • Auto thinks semi shortages will take years to resolve; aims to reduce the variety of chips used
  • Continental pushing for more price increases as costs remain on a rise; aims to reduced working capital by 10% but does not see a return to pre-COVID level
  • Germany new car sales increased 18% Y/Y in July; BEV up 69%
  • China Price War showing signs of calming according to a Bloomberg analysis
  • Chinese auto exports driven by NEVs surged 73% in 1H, dethroning Japan
  • Ford postpones launch of EV Explorer model in Europe by 6 months
  • Li Auto aims to outsell European Luxury brands in China in 2024
  • Honda reports strong results with surging shipments in the US offsetting softness in China
  • Magna prepared to lay off workers in the event of UAW strike in the US
  • New vehicle inventory in the US unchanged M/M in July says Cox
  • VW sees ID.3 EV sales in China triple M/M in July after $16K price
  • UK new car sales increased 28% Y/Y driven by fleet and business demand while retail sales remained flat Y/Y in July
  • Used vehicle prices in the US declined 1.6% M/M in July says Cox; price declines anticipated to be more moderate through year-end
  • US auto dealer sentiment mixed with outlook down ticking says Cox

Datacenter

  • General purpose servers missing forecasts, concerning ODMs in Asia says DigiTimes

Industrial

  • Siemens misses 2Q expectations, warns of weakening demand in several markets including China

IP&E

  • Murata to start construction of new production facility in the Philippines

Semiconductors

  • Alegro MicroSystems to buy TMR sensor specialist Crosus for $420M in cash
  • Renesa to buy cellular IoT designer Sequans for $249M
  • US administration to prohibit semi, AI, microelectronics investments in China
  • Global semi sales increased 1.7% M/M in June; 2Q up 4.7% Q/Q
  • Hynix unveiled samples of 321-layer 3D NAND at Flash Memory Summit
  • TSMC announced plans to form JV with Infineon, Bosch and NXP and build a fab in Germany
  • TI to invest up to $1B to expand its facility in the Philippines

Consumer

  • Sony pushes back expectations for smartphone recovery to 2024 due to soft demand in the US and China
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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.

More content by Dennis Reed

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