Texan guides up about 50 mil relative to consensus and says sales have been up in January and February from December’s very depressed levels. They cited the much cited China strength since the government approved national 3G licenses (Xilinx and Altera cited the same trend).
Taiwan Semi, the direct beneficiary of better semiconductor production in the industry, has moved their guidance a little higher also due to better customer orders than expected in January and February – of course, we’re talking down 41-44% instead of down 46-50%. Make no mistake – business still sucks – its better than their previous projections, though, and that’s something.
Concern that short-term order blips higher are unsustainable are likely to remain but with the semi index down from 425 to 190 since last March, they probably have some room to move higher.