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Gartner Slashes Chip Industry Forecast After PC Demand Slumps

Chip sales are growing much more slowly than expected and will begin to decline in 2023, according to Gartner Inc., marking an abrupt end to one of the industry’s biggest boom cycles.

Global semiconductor revenue will increase just 7.4% in 2022, the research firm projected in a report Wednesday. That’s roughly half the 14% rate that Garner was predicting three months ago and is far off the 26% growth that the chip business posted in 2021.