The Semiconductor Industry Association came out with its forecasts for the next couple years. It projects growth of 15.8% in 2003 to $163 billion and sales reaching $195 billion in 2004. Furthermore the industry is forecasting sales in 2006 to approach $220 billion. Just think this is just over a 1% compound average growth rate from the peek in 2000 when sales were $204 billion. Why investors give these forecasts merit is a surprise. Just two years ago the industry was forecasting $283 billion in sales in 2004. Again the industry now expects 19.6% growth in 2004 resulting in sales of $195 billion, or almost one-third less than previous forecasts.
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