I got this out of a briefing by Gartner to the ECCT in Taiwan on 2nd Oct '09.
They seem cautiously optimistic that the semiconductor will recover in 2010 and that the recovery is driven very much by PCs and cell phones.
Plenty of good details and analysis and worth a read.
The report can be downloaded from
http://www.ecct.com.tw/index.php?option=com_docman&task=doc_details&Itemid=96&gid=443
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