Customer Sentiment Remains Cautious Despite Improving Fundamentals (November Update)

Order activity for semiconductor equipment increased to 64 °F. With the holidays right around the corner, order activity for the Mobile and Consumer segments are increasing. Memory activity is also increasing as the inventory buildup continues to be digested. Customer sentiment remains cautious, however, as these improvements have yet to have a meaningful impact on profitability. There were some minor adjustments to our forecast this month. Semiconductor Equipment and IC sales came in stronger in Q3 2023 while electronics came in slightly lighter than our forecast.