NEW YORK -- A leading semiconductor analyst raised his 2014 outlook based on higher-than-expected April sales. Per the Semiconductor Industry Association, April's actual global sales were $25.6 billion slightly higher than the forecast of $24.86 billion.

The higher sales growth upped the 2014 forecast to 9%, from the previous 8.4% growth based on the March data, says Mike Cowan.

The analyst's Momentum Indicator was 3%,&nbsp, reversing a one-month strongly negative result in March.

"Last month’s negative momentum indicator, originally thought of possibly signaling a potential turning point in the sales growth trend, turned out to be a 'head fake' due to the most recently determined MI’s value going positive – a good sign for the near-term sales growth trend of the industry. It is also consistent with April’s uptick in 2014’s sales growth forecast," Cowan said in a research note.