MILPITAS, CA — The 90-day moving average sales at North America-based semiconductor equipment manufacturers rose 6.4% sequentially, a new report from SEMI said.

Manufacturers posted $2.27 billion in billings worldwide in May, according to the May Equipment Market Data Subscription (EMDS) Billings Report published today by SEMI. The three-month average worldwide billings were up 41.9% over May 2016.

“Semiconductor equipment billings for North American headquartered equipment manufacturers increased for the fourth month in a row and are 42% higher than the same month last year," said Ajit Manocha, president and CEO of SEMI. “The strength of this cycle continues to be driven by Memory and Foundry manufacturers as the industry invests in 3D NAND and other leading-edge technologies."