NEW YORK -- Semiconductor analyst Mike Cowan upped his forecast for this year's global semiconductor sales to 9.9% growth after greater-than-expected May sales.

Cowan's new outlook calls for worldwide semi revenue to top $335.8 billion. His updated sales forecast is 90 basis points higher than his previous guidance, published in June.

May's actual global semi sales, according to the WSTS, were $26.92 billion on a 90-day moving average, much stronger than the Cowan's estimate of $25.73 billion.