Order activity for semiconductor equipment fell by another point amid growing fears on the spread and impact of the Coronavirus. The virus has already hampered manufacturing and consumption in China this year and threatens to dampen global growth if it is not contained.

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Chip Market Research Services
Caution returns
• Order activity for semiconductor equipment fell by another point
amid growing fears on the spread and impact of the Coronavirus
• Capacity Utilization by Node
Semiconductor Analytics
Semi Market results from last week:
Semiconductor sales jumped above 2019
levels, but demand remains weak
Semiconductor Sales Nowcast: 1Q20/1Q19
Held to +6%
– Semiconductor Weather1 Report:
Sunny, Cooler, and Foggy
– IC Supply-Demand2 Metrics:
Jumped to Balanced
– Electronics Price Trend:
Declining
Overall Semi Sales Status Trend:
Peaked: Mar 18 Cold with Dark Clouds: Sep 18 Freezing: Nov 18 Frozen: Jan 19
Freezing: Mar 19 Cold: May 19 Cool: July 19 Temperate: Oct 19 Sunny: Nov 19
Warm: Dec 19 Sunny: Feb 20
Chip History Center
People: In 2008 we gave out awards for the most popular
videos and papers at weSRCH and Chip History …
The Chip Insider
Strategy and Tactics: Coronavirus Semiconductor
Billings Watch: Week 2
Equipment & Emerging Markets: Coronavirus’ Impact
on Semiconductor Equipment
Semiconductor Stocks
• VLSI’s Semiconductor Stock Indices plunged
• Semiconductor Stock Index led down by MagnaChip
Semiconductor
• Semiconductor Equipment Stock Index was led down
by Onto Innovation
• EDA Stock Index was led down by Cadence
• Electronics Materials Stock Index was led down by
DuPont
• Hottest Stocks: SMIC, TSMC, ASM International, KLA,
UMC, and Xilinx
Semiconductor WEEK: February 28, 2020
An overview of results and conclusions from recent reports at VLSI

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The Chip Insider®'s Graphics File
February 2020
Caution returns
This issue contains the latest forecast.
Call us to access more details
• Order activity for semiconductor equipment fell by
another point amid growing fears on the spread and
impact of the Coronavirus
• The virus has already hampered manufacturing and
consumption in China this year and threatens to
dampen global growth if it is not contained
• The Chip Price Performance Index (CPPI) eked out a
gain
Forecast as of February 2020: 2019 2020
Semi Equipment ($B): 76.1$ 81.8$
Sequential Change -9.0% 7.5%
Capacity Utilization: 84.5% 89.1%
ICs ($B): 352.3$ 382.5$
Sequential Change -13.4% 8.6%
IC Units (BU): 299.4 321.5
Sequential Change -6.0% 7.4%
Electronics ($B) : 2,122$ 2,237$
Sequential Change -2.0% 5.4%

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The Chip Insider® Graphics
Capacity Utilization by
Node:
– Utilization rates are improving
Fab Capacity Utilization by Node: chart gives rolling averages
for 20nm 22nm 28nm 32nm 40nm 45nm 60nm 65nm and larger

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Semiconductor Analytics
Last Week in the Semiconductor Market:
Overall Semi Sales Status Trend:
Peaked: Mar 18 Cold with Dark Clouds: Sep 18 Freezing: Nov 18 Frozen: Jan 19
Freezing: Mar 19 Cold: May 19 Cool: July 19 Temperate: Oct 19 Sunny: Nov 19
Warm: Dec 19 Sunny: Feb 20
W/W:Week-over-WeeksequentialgrowthW/Q:Week-over-QuarterW/Y:Week-over-Year
1: Measures Order Activity 2: Measures Pricing Power
4
Thank you for supporting us through this last issue
of 2018. Semiconductor Analytics will return
January .
Semiconductor sales jumped above 2019 levels, but
demand remains weak due to the Coronavirus. The
price decline abated last week. Supply-Demand
jumped to Balanced
Semiconductor Sales Nowcast: 1Q20/1Q19
Held to +6%
Semiconductor Weather1 Report:
Sunny, Cooler, and Foggy
IC Supply-Demand2 Metrics:
Jumped to Balanced
Electronics Pricing Trend: Declining

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2019 Semiconductor Market Drivers
5
• Coronavirus has had a deep negative
impact on Integrated Circuit sales in
the first 2 weeks of February
• Certainties:
– Coronavirus Pandemic
– China Slowdown
– 5G: Smartphone, Auto, Industrial
– Win 7 EoL refresh
– 7/10nm and 5/7nm demand ramps
– Memory Price Elasticity
• Uncertainties:
– Federal Reserve pulling punchbowl from
party in January
– 2020 Elections in U.S.

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The Chip Insider®
Strategy & Tactics
Strategy and Tactics: Coronavirus Semiconductor Billings
Watch: Week 2
Summaries:
Coronavirus Semiconductor Sales Watch: IC sales and prices
remained lower last week than in past pandemics at week+2 after a
WHO global emergency announcement. In order to account for the
Lunar New Year holiday, we are taking a 5-year TMA based on the
Lunar calendar for COVID-19. The good news is sales were less
negatively affected by the virus in week+2 than in week+1. The bad
news is this virus has set new records of decline for the first two
weeks of a disaster event and for having two negative weeks in a
row. Semiconductor Pricing impacts of COVID-19 are less in
magnitude than the IC sales hit. However, they did not stop their
rapid rate of decline in week+2. They also set new records of decline
for the first two weeks of a disaster event and for having two negative
weeks in a row.
What’s Happening: Ajit Manocha inducted into the SVEC Hall of
Fame
Important ChipChirps™ Semiconductor sales remained under 2019
levels for the second week… Intel's process technology execution is
improving… Dr. C. C. Wei @TSMC on 5G… ChipChirps™ are short
notifications from VLSI’s analysts to alert clients about breaking news
and events. They are exclusively available on VLSI’s App for Android
and iOS:
“Intelligence is quickness in seeing things as they are”
— George Santayana
Contact us to get the full report and more

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The Chip Insider®
Equipment & Emerging Markets
Coronavirus’ Impact on
Semiconductor Equipment
• WFE
• Test
• Assembly
• Electronics and ICs

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Links to Popular Interviews and Papers
New: VLSI’s 2020 Forecast … with Andrea
Lati of VLSIresearch
The 2010 Decade: The Big Picture ... with
Andrea Lati of VLSIresearch
Memory Market Forecast 2020 … with Jim
Handy of Objective Analysis
Deep Learning and Curvilinear Masks …
2019 Semiconductor Mask Maker’s Survey…a
conversation with Aki Fujimura of the eBeam
Initiative
Open IC Design Platforms … with Michael
Wishart of Efabless
Join the conversation at weVISION
www.vlsiresearch.com/wevision
New:

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semiStockWEEK: VLSI's Semiconductor Stock Indices plunged this week along
with the market.
Semiconductors -10%, Equipment -9%, EDA -9%, Electronic Materials -13%.

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Semiconductor Stocks:
Weekly Growth and Forward P/E Ratios by Company
VLSI’s Semiconductor Stock Index
was led down 10.2% by MagnaChip
Semiconductor
IDM -11.2%
Foundry & OSAT -6.9%
Fabless & Fablite -11.6%
AMD AMD Analog Devices ADI AmkorAMKR
ASE ASX Broadcom AVGO IBM IBM
Infineon IFNNY.PK Intel INTC JCET600584.SS
Kingpak Technology6238.TWO
Micron Technology MU
On Semiconductor ON Panasonic PC
MagnaChip Semiconductor MX Maxim MXIM
MaxLinear MXL MediaTek 2454.TW
NVIDIA NVDA Qualcomm QCOM
Samsung Electronics 005930.KS Silicon
Laboratories SLAB Skyworks SWKS SMIC SMI
STMicroelectronics STM
Texas Instruments TXN TSMC TSM UMC
UMC Western Digital WDC Xilinx XLNX
Weekly Gains 2/28/2020
Semiconductor Stocks
Price
Change
Forw ard P/E Semiconductor Stocks
Price
Change
Forw ard P/E
IDM Fab-lite to Fabless
Intel -13.7% 11 AMD -14.6% 29
Micron -7.8% 9 Analog Devices -11.2% 19
ON Semiconductor -6.7% 10 Broadcom -10.5% 11
Samsung Electronics -8.4% – IBM -13.2% 9
SK hynix -14.7% Infineon -13.0% 18
STMicroelectronics -10.2% 15 MagnaChip Semiconductor -21.3% 13
Western Digital -17.0% 7 Maxim -9.1% 21
Foundry & OSAT MaxLinear -13.9% 16
Amkor -15.3% 9 MediaTek -7.2% –
ASE -5.0% 10 NVIDIA -8.2% 29
JCET -13.7% 83 Panasonic -12.6% 12
Kingpak Technology -5.6% – Qualcomm -10.0% 13
SMIC -0.8% 1510 Silicon Laboratories -11.7% 23
TSMC -3.1% 15 Skyw orks -12.6% 13
UMC -4.6% 9 Texas Instruments -11.2% 20
Xilinx -4.8% 25

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Chip Equipment & Related Stocks:
Weekly Growth and Forward P/E Ratios by Company
VLSI’s Semiconductor Equipment
Stock Index was led down -8.9% by Onto
Innovation
WFE -9.0%
Test -10.2%
Assembly -7.1%
Applied Materials AMAT Advantest ATEYY
ASM International ASMI
ASM Lithography ASML ASM Pacific 0522.HK
BE Semiconductor BESIY.PK
FormFactor FORM KLA KLAC
Kulicke & Soffa KLIC Lam Research LRCX
Onto Innovation ONTO Nikon 7731
Teradyne TER Tokyo Electron Limited 8035
Veeco VECO
Weekly Gains 0 2/28/2020
Equipment Stocks
Price
Change
Forw ard P/E Equipment Stocks
Price
Change
Forw ard P/E
Wafer Process: Test:
Applied Materials -9.6% 12 Advantest -11.6% –
ASM International -4.5% 19 Teradyne -11.0% 16
ASML -9.6% 25 FormFactor -8.1% 18
KLA -4.6% 14
Lam Research -7.4% 14 Assembly:
Onto Innovation -17.8% – BESI -7.8% –
Nikon -6.5% – Kulicke & Soffa -8.3% 10
TEL -10.1% – ASM Pacific Technology -5.1%
Veeco Instruments -10.7% 13

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Electronic Materials Stocks:
Weekly Growth and Forward P/E Ratios by Company
VLSI’s EDA Stock Index was led down
9.5% by Cadence.
VLSI’s Electronics Materials Stock Index
was led down 12.9% by DuPont.
BASF BASFY Cabot Microelectronics CCMP
Cadence CNDS DNP 7912 DuPont DD
JSR 4185 Shin-Etsu 4063 SOITEC
SOI.PA Synopsys SNPS Tokyo Ohka 4186
Weekly Gains 2/28/2020
EDA & Electronic Materials
Stocks
Price
Change
Forw ard P/E
EDA & Electronic Materials
Stocks
Price
Change
Forw ard P/E
EDA DNP -10.9% –
Cadence -11.5% 25 DuPont -18.2% 4
Synopsys -7.6% 23 JSR -12.3% –
Electronic M aterials Shin-Etsu -11.7% –
BASF -11.3% 2 SOITEC -13.6% –
Cabot Microelectronics -12.1% 16 Tokyo Ohka -13.3% –

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Semi
Stocks
Equipment
Stocks
Materials
Stocks
EDA
Stocks
Semi
Stocks
Equipment
Stocks
Materials
Stocks
EDA
Stocks
26-Jul-19 86.1 81.5 88.9 102.2 3.1% 9.1% 3.4% 2.9% 47 28.2% -7 -6.4% 34.6% 93.4 1.7%
02-Aug-19 81.3 77.7 86.5 96.3 -5.5% -4.6% -2.7% -5.9% 6 8.3% -47 -13.5% 21.8% 90.5 -3.1%
09-Aug-19 79.6 74.9 86.0 96.2 -2.1% -3.6% -0.5% -0.1% 13 16.1% -39 -14.5% 30.6% 90.1 -0.5%
16-Aug-19 79.7 75.2 85.0 94.9 0.1% 0.5% -1.2% -1.4% 25 8.7% -28 -8.8% 17.5% 89.2 -1.0%
23-Aug-19 78.6 74.7 85.7 95.4 -1.3% -0.8% 0.8% 0.6% 19 6.6% -35 -9.5% 16.1% 87.9 -1.4%
30-Aug-19 81.2 75.8 87.7 99.0 3.2% 1.5% 2.4% 3.8% 45 7.3% -9 -6.6% 13.9% 90.3 2.8%
06-Sep-19 84.7 79.3 91.2 101.4 4.3% 4.6% 4.0% 2.5% 53 10.2% -1 -2.8% 13.0% 91.9 1.8%
13-Sep-19 87.6 83.4 95.8 94.3 3.5% 5.2% 5.0% -7.0% 45 17.1% -8 -7.5% 24.6% 92.8 1.0%
20-Sep-19 85.4 84.5 94.5 95.0 -2.6% 1.3% -1.3% 0.8% 19 5.7% -35 -8.3% 14.0% 92.3 -0.5%
27-Sep-19 83.6 83.6 93.8 94.7 -2.1% -1.1% -0.7% -0.4% 16 3.7% -37 -12.1% 15.8% 91.4 -1.0%
04-Oct-19 84.6 84.4 93.1 96.0 1.1% 1.1% -0.8% 1.4% 34 10.1% -20 -3.5% 13.6% 91.1 -0.3%
11-Oct-19 86.0 86.4 95.0 96.0 1.7% 2.3% 2.0% 0.0% 35 9.0% -15 -4.4% 13.4% 91.7 0.6%
18-Oct-19 86.2 86.7 97.5 94.5 0.2% 0.3% 2.7% -1.5% 28 11.2% -23 -6.0% 17.2% 92.2 0.5%
25-Oct-19 88.2 92.4 100.0 94.9 2.4% 6.6% 2.5% 0.4% 46 15.6% -7 -16.3% 31.9% 93.3 1.2%
01-Nov-19 90.3 92.6 101.2 94.8 2.4% 0.2% 1.3% -0.1% 36 9.9% -15 -12.1% 22.0% 94.7 1.5%
08-Nov-19 91.7 94.9 103.2 96.1 1.5% 2.5% 1.9% 1.3% 37 12.5% -14 -4.2% 16.7% 95.5 0.9%
15-Nov-19 92.0 97.0 101.5 97.6 0.4% 2.1% -1.6% 1.6% 31 10.8% -20 -5.0% 15.8% 96.3 0.9%
22-Nov-19 90.0 92.0 98.7 95.9 -2.2% -5.1% -2.8% -1.8% 7 5.7% -44 -17.7% 23.4% 96.0 -0.3%
29-Nov-19 90.9 93.7 96.7 100.1 1.0% 1.8% -2.0% 4.4% 37 5.0% -14 -15.0% 20.0% 96.9 1.0%
06-Dec-19 92.6 94.7 95.5 95.5 1.8% 1.1% -1.2% -4.6% 33 8.2% -19 -4.8% 13.0% 97.1 0.2%
13-Dec-19 96.7 98.0 100.0 96.9 4.5% 3.5% 4.7% 1.5% 48 10.7% -3 -1.4% 12.1% 97.8 0.7%
20-Dec-19 99.2 99.9 100.1 99.6 2.6% 1.9% 0.1% 2.7% 39 12.5% -13 -8.4% 20.9% 99.4 1.7%
27-Dec-19 100.0 100.0 100.0 100.0 0.8% 0.1% -0.1% 0.4% 29 5.9% -23 2.7% 8.6% 100.0 0.6%
03-Jan-20 100.3 100.2 98.9 100.5 0.3% 0.2% -1.1% 0.5% 23 9.5% -24 -3.4% 12.9% 99.8 -0.2%
10-Jan-20 101.5 100.9 99.2 104.7 1.2% 0.7% 0.2% 4.2% 32 7.2% -22 -4.8% 12.0% 100.8 0.9%
17-Jan-20 104.7 104.8 101.0 106.4 3.2% 3.9% 1.8% 1.7% 45 19.1% -10 -3.8% 22.9% 102.8 2.0%
24-Jan-20 106.1 105.1 100.5 107.8 1.3% 0.3% -0.5% 1.3% 29 14.9% -25 -10.8% 25.7% 101.7 -1.0%
31-Jan-20 98.4 98.4 96.0 103.8 -7.3% -6.3% -4.5% -3.8% 3 2.2% -51 -17.7% 19.9% 99.5 -2.1%
07-Feb-20 102.5 101.3 100.4 107.2 4.2% 2.9% 4.6% 3.3% 45 21.4% -10 -11.7% 33.1% 102.7 3.2%
14-Feb-20 106.5 106.6 101.0 114.2 3.9% 5.3% 0.6% 6.5% 47 27.5% -8 -10.0% 37.5% 104.3 1.6%
21-Feb-20 103.7 99.3 98.1 106.4 -2.6% -6.9% -2.8% -6.9% 6 4.5% -49 -17.1% 21.6% 103.0 -1.3%
28-Feb-20 93.1 90.4 85.5 96.2 -10.2% -8.9% -12.9% -9.5% 0 -0.8% -55 -21.3% 20.5% 91.2 -11.5%
S&P500
Growth
VLSI’s Indices of Chip Industry Stocks Weekly Growth
The Prior
Week's
Close
S&P500
MaxGrowth
Companies
Up
Companies
Down
Rangeof
Growth
MinGrowth