Veeco grows revenue 11% in 2022, despite 10.5% dip in Q4 driven by smartphone-related 5G RF weakness

What happened

Veeco Instruments reported Q4 2022 revenue of $153.8M, a 10.5% sequential decline attributed to weakness in smartphone-related 5G RF demand. The company's full-year revenue grew 11% to $633.7M, indicating a strong first half followed by a sharp slowdown. Bearish: This signals weakening end-demand for key RF components, potentially leading to inventory adjustments and pricing pressure downstream.

Impact and signal

Affected components and suppliers

Source and time

Source: Semiconductor Today · 2/17/2023 · View original source