Research firm TechInsights updated its full year IC sales forecast for 2024 on March 4th, raising the previous growth of 16% to 24% due to a significant increase in memory product sales.

The institution stated that it is expected that global memory product sales will soar by 71% in 2024, far exceeding the previous forecast of 41%. Due to improved demand and the manifestation of reduced production by large factories, the pricing of memory products is much higher than expected.

TechInsights stated that the current electronic OEM inventory continues to decline, and the IC inventory/sales ratio reached below historical average levels in the fourth quarter of 2023, indicating a return to healthy levels. The inventory of die bank is decreasing, but the inventory to sales ratio is still higher than historical normal levels.

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