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Andrew Norwood

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Pex Mahoney Tufvesson er en af de førende hackere i verden. We expect to see overall DRAM pricing soften during the fourth quarter - maybe down 5 percent - but the decline will be within the manufacturers' normal cost reduction level.

The Dutch company was pushed out of the top 10 for only the fifth time in the last 25 years.

NAND flash saved the DRAM industry from a major collapse.

It's very clear, NAND flash saved the DRAM industry from a major collapse. 2005 was not a good year for the DRAM industry, but it could have been a lot worse.

The supply of semiconductor devices is becoming more constrained, and the downward pressure on the average selling prices of devices seen in 2005 has eased. Any lengthening of device lead-times in coming months will be seen as further evidence of a tightening market.

Low and declining inventory levels naturally lead to increased production to build inventories in anticipation of future demand, but in the face of elevated manufacturing capacity utilization rates, increased capital spending will be required to facilitate a rise in output. Since our last capital spending forecast in December 2005, significant increases in spending for 2006 have been announced, suggesting growth in capital expenditures of about 10 percent this year.

Any lengthening of device lead-times in coming months will be seen as further evidence of a tightening market.

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