It's cold and foggy as we head into 2H23
Order activity for semiconductor equipment increased but remains at a cold 42 °F. Micron’s earnings report on June 28 will give us some more visibility on how the memory industry fared in 2Q23 and how the cycle is progressing. We expect more inventory write offs given the weak pricing environment in Q2. All eyes will be on the Q3 outlook. Memory suppliers have been pulling in deals, especially in March, which has elongated the inventory destocking at their customers.
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