Global Semiconductor Sales Hit $131.9B in May, Full-Year Revenue Forecast Reaches $1.5-1.6 Trillion

According to WSTS data, global semiconductor sales reached $131.9 billion in May, rising 16.1% month-over-month and 118.8% year-over-year, significantly outpacing the historical seasonal average of 4.5% growth. Morgan Stanley forecasts full-year 2026 semiconductor industry revenue of $1.5-1.6 trillion, representing over 90% annual growth driven primarily by price increases rather than volume expansion, with average selling prices up 16.7% month-over-month and 85% year-over-year.

Memory chips led the rebound, with DRAM sales rising 27.7% month-over-month and NAND Flash surging 39.8%, both far exceeding seasonal averages. Price increases accounted for the majority of DRAM revenue growth, while NAND benefited from both price and volume gains. Morgan Stanley maintains an "overweight" rating on the semiconductor sector, citing AI acceleration, memory infrastructure, and networking equipment as primary beneficiaries.