There's No Semiconductor Chip Shortage! Data Reveals Record Chip Inventories 30% Higher Than 2019
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according to calculations from Financial Times parent, Nikkei, total inventory at the world's nine leading chipmakers hit a record high of $64.7 billion as of the end of June as "companies quickly moved to ramp up production to alleviate a protracted shortage that has disrupted supply chains in the auto industry and beyond."
When demand for chips used in high-performance computers and automobiles outpaced projections due to closing key manufacturers when many chipmakers to suspend production in Southeast Asia, Taiwan Semiconductor - the world's largest chipmaker - optimized production lines in January-June, expanding production of automotive chips during the period by 30% from a year earlier.
Others followed, and according to Nikkei, total inventory at TSMC, Intel, Samsung Electronics, Micron Technology, SK Hynix, Western Digital, Texas Instruments, Infineon Technologies and STMicroelectronics are now at historic highs, as chipmakers expand their stockpile of raw materials to drive production. The share of raw materials in total inventory has steadily been increasing since March 2019 at the seven companies that provide comparable data, and topped 24% as of the end of March.
"The supply of memory chips will likely surpass demand in the first half of 2022, bringing prices down," said Akira Minamikawa at research company Omdia, echoing Morgan Stanley's concerns.
As a result, Samsung and Micron's stock prices plunged this month as investors brace for an eventual correction in the chip market.
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