Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones

The chip business that was bracing for a troublesome interval with laptop computer gross sales slumping is adjusting to a wider and sharper slowdown at the same time as semiconductor firms put together to spend billions of {dollars} on new factories.

“The market is worse than we thought it would be,” Mark Murphy, chief monetary officer at reminiscence maker Micron Expertise Inc., stated Tuesday. On the identical day, President Biden signed an funding plan that allocates greater than $50 billion to finance future U.S. chip improvement and manufacturing.