Bank forecasts massive chip-sector growth

The growth momentum will be driven by the increasing demand in emerging markets and China for low-power chips licensed by British chip designer ARM Holding Plc, said Dan Heyler, head of global semiconductor research at Merrill Lynch.

“We think it is a more sustainable cycle now,” he said at a local media briefing as part of Merrill Lynch's annual investor conference. “We are very positive on 2013 and 2014, so we will have very good growth over the next couple of years.”

The healthy growth would benefit Taiwanese foundry players such as Taiwan Semiconductor Manufacturing Co. (TSMC) and Advanced Semiconductor Engineering Inc. (ASE), since mobile chips demand higher performance, Heyler said.

Merrill Lynch and Taiwan Stock Exchange Corp. are holding the “Taiwan, Technology and Beyond Conference” in Taipei until Thursday for more than 300 investors from Europe, the United States, Singapore and Hong Kong.

The annual meeting will bring together over 120 Taiwan-listed companies and 29 overseas-listed firms with a total market capitalization of more than US$768 billion, the bank said.

Participating companies include leaders in the smartphone and semiconductor sectors, such as HTC Corp. and TSMC, as well as foreign technology firms, including Samsung Electronics Co. and Lenovo Group Ltd.

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