PHOENIX, Arizona July 21, 2004 - Semico Research Corp., the premier market research firm, today announced the latest Semico Inflection Point Indicator (IPI) declined from the previous month, signaling an impending slowdown in 2005. The IPI peaked two months ago, and the company will rely on the historical accuracy of its forecasting tool as a critical indicator of the industry status for the first half of 2005. The decline in this month’s IPI is the first real evidence the market will experience a downturn beginning in early 2005.