Chip Sales Have Best Monthly Growth In Over Six Years

By Tomi Kilgore Markets MarketWatch Pulse

The semiconductor market has gotten off to a good 2017, with the best monthly growth in over six years, boosted by strong sales growth in China, according to data provided by the Semiconductor Industry Association. Global chip sales jumped 13.9% from a year ago to $30.6 billion in January, the largest year-over-year growth since November 2010, SIA said. Sales to China soared 20.5%, followed by 13.3% growth in the Americas, 12.3% in Japan and 4.8% in Europe. "The global semiconductor industry is off to a strong and encouraging start to 2017, posting its highest-ever January sales and largest year-to-year sales increase in more than six years," said SIA Chief Executive John Neuffer. The PHLX Semiconductor Index has rallied 11% over the past three months, while the S&P 500 has gained 7.3%. Among individual stocks, Intel Corp.'s has gained 3% over the past three months and Advanced Micro Devices Inc.'s has run up 38%.

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