Order Activity is Edging Higher
Order activity for semiconductor equipment increased to 58 °F. All segments increased with memory getting the biggest boost. Memory prices have started to turn up sharply, which is a strong indicator that supply cuts are trickling through the supply chain and the recovery is underway. Supply reductions in DRAM and especially NAND have been significant in Q2 and 2H23. Clearly, the low utilization rates are impacting the bottom line for Memory manufacturers, but they’re needed to restore balance in the market. September sales from some of the Taiwanese manufacturers continued to show a weak market environment, which is in line with our expectations.
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