Tech consultancy Gartner estimates global semiconductor revenue to drop by 11% this year, versus an earlier projection of down 6.5%, no thanks to "rapid deterioration" of consumer demand and current supply-demand imbalances.
DBS Group Research has maintained its "fully valued" call on Micro-Mechanics (Holdings), but has trimmed its target price from $2.21 to $1.75, citing worries of a further broad-based slowdown ahead.
The company, which makes parts used in the semiconductor industry, has guided for a "challenging operating environment" for its 4QFY2023 ending June.
