Qualcomm (QCOM) is a notable performer on both lists:
- Qualcomm used a 27% year-over-year growth rate to jump five spots and rank as the 9th largest semiconductor supplier through the first three quarters of 2008.
- This 27% year-over-year growth rate is good enough to place Qualcomm in the number one position in the rankings based on sales growth.
As an aside, the companies that primarily produce memory chips saw serious slow-downs in growth. Quimonda fell 12 positions to the 30th spot and Hynix saw a growth rate of -27%, pretty much the opposite of Qualcomm. SanDisk, Elipda and Spansion no longer appear in the top 20 at all.
Qualcomm and Broadcom show that some companies have the ability to maintain growth despite an industry-wide slowdown. In the near term, both of these companies are experiencing falling stock prices and they are likely to continue to do so until the overall stock market bottoms. As the growth leaders in their industry, however, they are prime candidates to bounce back first when the economy begins to recover. As such, they deserve to be on the watchlist of any long-term tech investor.
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Sources: IC Insights Research Bulletin - 54-Point Growth Rate Swing Within Top 20 Supplier Ranking