What is the expected growth rate for the first quarter of 2022 in terms of IC sales 
hout asking for any new infrastructure, they just have a sudden increase of new -- of systems. And therefore all devices are short. This is the problem we're addressing.
When people are talking about the COVID-19 impact will dissipate, we don't see that. Of course we do understand sooner or later, this will disappear. However, you have the following multiple waves of AI, IoT, smart manufacturing, that we're aggressively building up the infrastructure, which will in turn require a lot of new system which demand semiconductor devices all levels. So I think industry will be in short. And this is a comment that the Foundry guys are making. I mean, the 2021/2022, 29 new fabs are being deployed. Everybody sees this, but the industry has no incentive to build the manufacturing infrastructure ahead of the curve. This is standard practice. The COVID-19 give you a very good short term incentive, even though we do not know, this impact will be three years, four years or two years. However, we have enough belief and vision that all of the capacity will be needed and will be good for the world. And this is what the -- our view is.
Ken Hsiang -- Head of Investor Relations
Next question, please.
Randy Abrams -- Credit Suisse -- Analyst
Thanks, great. And the second question -- OK, yeah in the second question and one clarification in the first too. The local adjustments, if you think those are all driven by the constraints up and down the chain or are you seeing any pockets of application weakness? That's just kind of just a clarification. And then my second question just on the guidance, I know you mentioned that first quarter above seasonal. For fourth quarter, if you're coming up with above seasonal third quarter, do expect to grow in the IC ATM in fourth quarter? And then the other part on pricing being stable, I know you talked about there's expedites and a friendly environment. So I'm curious, given we're in the peak season, what's kind of keeping price stable or why you're not seeing a little bit of a sequential improvement on pricing?
Ken Hsiang -- Head of Investor Relations
Randy, so you're looking for a fourth quarter, somewhat of a fourth quarter outlook, and also a pricing environment commentary for the rest of the year.
Randy Abrams -- Credit Suisse -- Analyst
Yeah, yeah.
Tien Wu -- Chief Operating Officer
Okay, I think the first comment is, yes, we're seeing some local adjustment. And I -- we do not know the reason why there are local adjustments. It could be business related or it could be a component shortage related. However, those are very localized and temporal. And we're seeing the adjustment down and adjustment up right away. So at this point of time, I think the best comment we can give to you is, it does not affect the overall business momentum, at least this is what we can see now. The comment on the Q3 to Q4, yes, we are expected Q3 growth. We're expecting Q4 growth, just like last year. The comment about Q1 of 2022, of course, I'm hoping to see another record. Q1 is better than Q4 of the previous year. However, I'm not going to say that right now. But this is what I'm hoping for. And I believe, if we have a clear, a good optimistic Q1 in 2022, that momentum will carry throughout the 2022. And this is our current view, and then we'll deal with 2023 at a later date.
Joseph Tung -- Chief Financial Officer
A thing on the -- also, this is Joseph here. I'd say, also on the margin side, we will see sequential growth on a quarterly basis for the second half of the year as well as we continue to see volume expansion as well as continuous effort and efficiency improvement, including automation. That is an aggressively growing bottom line. And for next year, we're still seeing, there's also room for improvement further in terms of our margin. And we're seeing a very, very healthy development in overall financial performance. going forward.
Tien Wu -- Chief Operating Officer
I mean, there's one comment, I will not talk about the overall pricing comparison. However, pricing is given by the market. I mean, it's not defined b
hout asking for any new infrastructure, they just have a sudden increase of new -- of systems. And therefore all devices are short. This is the problem we're addressing.
When people are talking about the COVID-19 impact will dissipate, we don't see that. Of course we do understand sooner or later, this will disappear. However, you have the following multiple waves of AI, IoT, smart manufacturing, that we're aggressively building up the infrastructure, which will in turn require a lot of new system which demand semiconductor devices all levels. So I think industry will be in short. And this is a comment that the Foundry guys are making. I mean, the 2021/2022, 29 new fabs are being deployed. Everybody sees this, but the industry has no incentive to build the manufacturing infrastructure ahead of the curve. This is standard practice. The COVID-19 give you a very good short term incentive, even though we do not know, this impact will be three years, four years or two years. However, we have enough belief and vision that all of the capacity will be needed and will be good for the world. And this is what the -- our view is.
Ken Hsiang -- Head of Investor Relations
Next question, please.
Randy Abrams -- Credit Suisse -- Analyst
Thanks, great. And the second question -- OK, yeah in the second question and one clarification in the first too. The local adjustments, if you think those are all driven by the constraints up and down the chain or are you seeing any pockets of application weakness? That's just kind of just a clarification. And then my second question just on the guidance, I know you mentioned that first quarter above seasonal. For fourth quarter, if you're coming up with above seasonal third quarter, do expect to grow in the IC ATM in fourth quarter? And then the other part on pricing being stable, I know you talked about there's expedites and a friendly environment. So I'm curious, given we're in the peak season, what's kind of keeping price stable or why you're not seeing a little bit of a sequential improvement on pricing?
Ken Hsiang -- Head of Investor Relations
Randy, so you're looking for a fourth quarter, somewhat of a fourth quarter outlook, and also a pricing environment commentary for the rest of the year.
Randy Abrams -- Credit Suisse -- Analyst
Yeah, yeah.
Tien Wu -- Chief Operating Officer
 Okay, I think the first comment is, yes, we're seeing some local adjustment. And I -- we do not know the reason why there are local adjustments. It could be business related or it could be a component shortage related. However, those are very localized and temporal. And we're seeing the adjustment down and adjustment up right away. So at this point of time, I think the best comment we can give to you is, it does not affect the overall business momentum, at least this is what we can see now. The comment on the Q3 to Q4, yes, we are expected Q3 growth. We're expecting Q4 growth, just like last year. The comment about Q1 of 2022, of course, I'm hoping to see another record. Q1 is better than Q4 of the previous year. However, I'm not going to say that right now. But this is what I'm hoping for. And I believe, if we have a clear, a good optimistic Q1 in 2022, that momentum will carry throughout the 2022. And this is our current view, and then we'll deal with 2023 at a later date.
Joseph Tung -- Chief Financial Officer
A thing on the -- also, this is Joseph here. I'd say, also on the margin side, we will see sequential growth on a quarterly basis for the second half of the year as well as we continue to see volume expansion as well as continuous effort and efficiency improvement, including automation. That is an aggressively growing bottom line. And for next year, we're still seeing, there's also room for improvement further in terms of our margin. And we're seeing a very, very healthy development in overall financial performance. going forward.
Tien Wu -- Chief Operating Officer
I mean, there's one comment, I will not talk about the overall pricing comparison. However, pricing is given by the market. I mean, it's not defined b