New Gartner forecasts on worldwide semiconductor revenue are expecting the year to close at $198 billion, representing a 22.4 percent reduction from 2008 revenues of $255 billion.

“First quarter PC shipments came in better than expected, which led to an improved outlook for microprocessors, but we believe most of this improvement was due to the fact that inventories had been run down too far, rather than true demand returning,” said Gartner research Vice President Bryan Lewis, in a statement on the new data.

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