Global Semiconductor: SIA May Data: Semis Sales Reaccelerate Above Seasonal; Memory Reaches Record High on DRAM and NAND Strength

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Global Semiconductor: SIA May Data: Semis Sales Reaccelerate Above Seasonal; Memory Reaches Record High on DRAM and NAND Strength

Global Research

8 July 2026ab

Global Semiconductor Equities

GlobalSIA May Data: Semis Sales Reaccelerate Above

Seasonal; Memory Reaches Record High on Semiconductors

DRAM and NAND Strength Timothy AnalystArcuri

timothy.arcuri@ubs.com

+1-415-352 5676

May Sales Reaccelerate Above Seasonal Nicolas Gaudois

Analyst

Following a resilient April, total semiconductor sales in May rebounded 16.7% M/M, or nicolas.gaudois@ubs.com

~840 bps/480 bps above the 10-yr/5-yr seasonal averages, primarily driven by a 19.9% +65-6495 5148

M/M increase in ASP while units slightly dropped(-2.7% M/M). Excluding memory, IC

Francois-Xavier Bouvignies

sales rose 2.0% M/M, below 5-yr seasonal average of 3.2% and surpassing the 10-yr

seasonal average by ~60 bps, supported by a 4.4% M/M ASP gain, partially offset by a francois.bouvignies@ubs.com

2.3% M/M decline in units. By product segments, Logic and MPU revenues rebounded +44-20-7568 7105

by 3.9% (~70 bps above the 10-yr seasonal average) and 5.0% (~260 bps above the 10-

Kenji Yasui

yr seasonal average), respectively. Analog and MCU experienced another month of

declines, underperforming 10-yr seasonal averages by ~540 bps and ~170 bps kenji.yasui@ubs.com

respectively. DSP maintained its growth of 3.3% M/M, surpassed its 10-yr seasonal +81-3-5208 6211

average by 3.8%. Analog ASP dipped 4% M/M with units down 4% M/M. MCU ASP

Randy Abrams

down 4.4% M/M despite a 1.8% M/M unit rise.

randy.abrams@ubs.com

Y/Y sales growth came in at 127.2%, marking the 32nd consecutive month of +886-2-8722 7338

expansion, showing acceleration by 12.2 ppts/32.1 ppts from April's/February's growth Sunny Lin

rates.