Strong Sales Drive Semiconductor Industry in 2016 Latest Reports on Micron Technology and NVIDIA

NEW YORK, NY / ACCESSWIRE / January 9, 2017 / The Semiconductor Industry provided investors with some solid gains in 2016 as sales for the industry continued to grow. The iShares PHLX Semiconductor ETF (SOXX) posted a gain of over 36 percent in 2016. The Semiconductor Industry Association (SIA) recently reported worldwide sales of semiconductors totaled $31.0 billion for the month of November 2016, up 7.4 percent when compared to sales of $28.9 billion in November 2015.

“Global semiconductor sales continued to pick up steam in November, increasing at the highest rate in almost two years and nearly pulling even with the year-to-date total from the same point in 2015,” said John Neuffer, president and CEO, Semiconductor Industry Association. “The Chinese market continues to stand out, growing nearly 16 percent year-to-year to lead all regional markets. As 2016 draws to a close, the global semiconductor market appears likely to roughly match annual sales from 2015 and is well-positioned for a solid start to 2017.”

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Micron Technology, Inc. (NASDAQ:MU)

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Micron Technology’s shares declined 0.32 percent to close at $22.04 a share Friday. The stock traded between $21.98 and $22.28 on volume of 17.78 million shares traded. The company reported revenues were $3.97 billion for the first quarter of fiscal 2017, an increase of 23 percent when compared to the previous quarter and an increase of 19 percent when compared to the first quarter of fiscal 2016.

“Positive market momentum, driven by favorable demand trends and limited industry supply, produced solid results for our first quarter,” said Micron CEO Mark Durcan. “We continue to make significant progress on our key technology and product initiatives, and we are pleased to have closed the Inotera acquisition on December 6, 2016, which we expect to further improve Micron’s strategic position and financial results.”

NVIDIA Corporation (NASDAQ:NVDA)

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NVIDIA shares gained 1.34 percent to close at $103.10 a share Friday. The stock traded between $101.20 and $104.25 on volume of 20.57 million shares traded. On January 6th, Mercedes-Benz and NVIDIA announced a partnership to bring an NVIDIA AI-powered car to market. NVIDIA and Mercedes-Benz are also setting an ambitious timeline for their goal; the two will field this new vehicle within the next 12 months.

“When our teams came together there was instant chemistry, and we share a common vision about how AI can change your driving experience, and make it more enjoyable,” said NVIDIA founder and CEO Jen-Hsun Huang. “At this point it is very clear that AI is going to be the future of computing. This is an endeavor that we started three years ago that we will put on the road next year – unbelievable.”

NVIDIA reported record revenue of $2.00 billion for the third quarter of fiscal 2017, an increase of 54 percent when compared to revenues of $1.30 billion a year ago and up 40 percent when compared to revenues of 1.43 billion in the previous quarter.

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