What goes down, WILL (eventually) come up

UK: With ever-increasing fears of a US recession on the horizon, (if it has not already started), continuing bad news in the financial markets, topped up with mind-boggling emergency measures by the world's central banks, it is little wonder that the chip market is jittery, according to Future Horizons.

Unfortunately, January's WSTS results did little to bring cheer, causing many industry watchers to start slashing their 2008 forecasts.  With management confidence at an all-time low, now is the time for firm resolve and metal.

Whilst the near-term uncertainties are clearly driving judgements, company balance sheets are strong and the underlying industry fundamentals rarely in better shape. Just as what goes up must inevitably come down so too must what goes down eventually come up.  The only uncertainty is not if but when. This market recovery has been a long time coming, if not in 2008 then for sure in 2009 … but it is currently far too early to write off 2008.