Wafer maker IQE flags potential demand hit in first half of 2023 fiscal

IQE Plc said on Monday it expected destocking in the wider industry to weigh on demand from its existing customers in the first half of the current fiscal year, after the chip components supplier forecast an 8 per cent revenue growth in 2022.

The company, which makes semiconductor wafers for chips used in Apple products, said 2022 trading was boosted by revenue from its photonics division in the second-half period, partially offsetting softness in its wireless markets.