2 December 2024 | 7:18PM CST Taiwan PA foundry Downcycle in 2025, with high inventory level and limited technology upgrade; DG AWSC/Win to Neutral/Sell Cellular PA industry downcycle will continue into 2025, with high inventory level We believe the Cellular PA foundry industry downcycle has started from 4Q24, and expect it to continue through 2025, considering (1) the increasing inventory at PA design houses, (2) unfavorable order momentum from both US and China design house customers, and (3) PA foundries' ...

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