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02-09-2019, 11:01 PM
Without a doubt there are long-term tail winds for the semiconductor industry, it is nonetheless a very cyclical industry. It is also easy to mistaken a cyclical up-cycle with growth. With Micro Mechanics serving only the semiconductor industry (having exit other industries at MMUS in 2018), I don't see a reason why Micro Mechanics would be an exception.
From my observation, the downcycle for semiconductors have already begun in 2019. Yeo Seng Chong of Yeoman Capital could have possibly observed this as well. Or maybe the semiconductor "slowdown" is due to front-running of electronic products, owning to Huawei and the trade war. Who knows? But, if a recession hits, semiconductors will be hit particularly hard. While, I am no expert in predicting the economy, my money is on a recession in 2020.
From my observation, the downcycle for semiconductors have already begun in 2019. Yeo Seng Chong of Yeoman Capital could have possibly observed this as well. Or maybe the semiconductor "slowdown" is due to front-running of electronic products, owning to Huawei and the trade war. Who knows? But, if a recession hits, semiconductors will be hit particularly hard. While, I am no expert in predicting the economy, my money is on a recession in 2020.