A little-publicized provision in a U.S. government budget resolution that largely prohibits four agencies from using Chinese-made IT products could backfire, several tech trade groups said.
Increased sales of electronics and new forms of computing devices will drive the worldwide semiconductor market to growth this year after a slowdown in 2012, the nonprofit organization World Semiconductor Trade Statistics said on Monday.
After several days of gains, tech stocks dropped Thursday as markets declined on disappointing news from Europe, where government officials are meeting to try to solve the sovereign debt crisis afflicting several countries in the euro area.
U.S. exchanges were volatile Friday after suffering their worst drop in more than two years Thursday, taking IT companies' shares down along with stocks in just about every other sector of the economy.
Despite an unusual earnings miss Thursday by Internet bellwether Google, continuing geopolitical turmoil and disappointing news for the PC market, IT is demonstrating continuing resilience as tech stocks in certain sectors moved higher Friday.
The semiconductor industry will see its total revenues hit record highs of US$319 billion this year and $330 billion in 2012 as orders mount for mobile devices such as smartphones and tablet PCs, according to a prediction from an industry group.
The Semiconductor Industry Association on Thursday predicted 2010 will be a year of record high chip industry revenue, but that growth will slow next year.
Global chip sales jumped in the second quarter on robust demand for PCs and wireless handsets, the Semiconductor Industry Association said on Monday.
Worldwide chip sales for May reached an all-time high, growing by 47 per cent compared to the same month last year, the Semiconductor Industry Association said in a study released on Tuesday.
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