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Industry Report Card: Moderate Growth Prospects For Global High Technology Mar 06
Standard & Poors, March 2006
Abstract
Standard & Poor's Ratings Services continues to expect 2006 to be a year of moderate overall growth in technology spending, estimated in the mid-single digits, similar to 2005. Growth will remain uneven, however, both between and within the various technology sectors. Semiconductor revenue increases have slowed since summer 2004, and will show about 7%-8% growth this year, also similar to last year. While this follows several years of stronger growth, longer-term prospects for the semiconductor sector remain in the 8%-12% range. Profitability prospects are favorable, given the relatively high utilization rates at the end of 2005 and the inventory balance in the electronics supply chain. Telecommunications equipment sales will be modestly positive for 2006, continuing the stabilization that began in...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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