2023 is starting off with a blizzard
- Order activity for semiconductor equipment continued to decline, falling to a chilly 50 degrees
- The decline moderated last week with only memory and DAO retracting
- It should not come as a surprise that Memory is at freezing levels as chipmakers grapple with weak end-demand and severe levels of inventories
- Memory hasn’t been this low since September 2019
- Clearly, the memory market is amid a significant downturn, forcing several manufacturers to cut wafer production and CapEx
- TechInsights’ Chip Price Performance Index continued to lose ground
- DRAM fell
- NAND slipped
- MPUs flat
- Inventory-to-Billings ratio continues to warn
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