Handelsbanken Capital Markets predicted the worldwide chip sales figures for August 2004 would be $18 bln. The total would be flat with the equivalent three-month average for July, but up 32.7% compared with the same figure in August 2003. That growth, seemingly robust, nevertheless represents a softening of market growth as it compares with July 2004 year-on-year growth of 37.9%, as calculated by the Semiconductor Industry Association in September.
With actual worldwide chip sales recorded by the SIA as $20.7 bln in June and $16.46 bln in July, Handelsbanken's prediction implies actual worldwide chip sales in August of $16.84 bln, a 2.3% sequential rise and a 23.6% increase from the actual sales of $13.62 bln, recorded by the SIA for August 2003. Handelsbanken was sticking to its recently updated predictions for world chip sales of 25% annual growth in 2004 and 7% annual growth in 2005.