SAN FRANCISCO, Dec 15: The boom-and-bust semiconductor industry, closing out its worst year in decades, will at best tread water in 2002, analysts say — bad news for investors who’ve pushed chip stocks higher on recovery hopes.

The industry, which tends to run in up-and-down cycles of about four years, traditionally has rebounded from downturns quickly.

But that may not be the case this time, analysts, market research firms and industry groups say. —Reuters