Based on past IC inventory trends, inventory days fell to 68 days driven by smart phone shipments in Q4 of 2017. The overall shipments of IC design companies increased in a single quarter, boosting revenue and returning inventory days to normal Level.Global investment in the first quarter by the manufacturers in response to market conditions order adjustment speed, inventory continued to decline, the first two quarters to meet the mobile phone sales season slightly higher than expected stock.
The recent strong demand for virtual currency has driven the tight supply capacity. Currently, the demand for sales is in short supply and the impact on the overall inventory is not obvious. It is estimated that the IC industry inventory adjustment phase will be completed in the first quarter of 2018, and the second quarter restart inventory will be warmed by the demand of smart phones. And the demand for new applications such as the Internet of Things (IoT) and automotive applications has increased. It is estimated that the stock will be restarted. Among them, the iPhone is the main observation indicator. In this year, the sales of the three new aircrafts are in the second half of the year whether the inventory is too high. Currently, the IC Industrial stocks in the normal cycle stage.
Smart phone makers were cautious about mobile phone sales last year, and were more cautious in stocking. In the fourth quarter, communications and consumer product inventories were gradually removed, and inventory adjustments began in the first quarter of this year. PC inventory was not significantly reduced, mainly due to Intel. Accounted for about 60% of the total, the inventory level was not digested as expected. Yongfeng Gold Speculations speculated that it should be a new platform for stock adjustment. Automotive electronics benefited from the decentralization of the number of chips in major depots, and the overall demand was better than expected. And the synchronous growth of stocks. In the major IC design companies to adjust the market sales quickly, so that the semiconductor chip turnover days effectively reduced, inventory back to normal.
In the smart phone sales are not as expected, originally expected the semiconductor industry revenue will fall to the second quarter, recently benefited from a large number of virtual currency computing power demand led to the early completion of semiconductor revenue growth, high-end foundry capacity utilization continues Upwards, to fill capacity gaps in the traditional low season of mobile phones, mainly mining ASICs led TSMC and Riyueguang's high-end semiconductor supply chain. Demand for 2018 continued to be strong throughout the year. Estimated virtual currencies will account for 5% of TSMC, driving TSMC and Moonlight and moonlight grows in the second quarter.