Order activity remains frigid
Order activity for semiconductor equipment held at a cold 42°. SoC Mobile and SoC Digital Consumer continued to weaken. Subcon/Advanced Packaging hit a new low for the year as visibility remains low. Memory activity remained in a deep freeze as supplier losses continued to mount. The current production cuts will help restore stability in the second half of the year; however, we expect more price declines in Q2 given the magnitude of inventories at suppliers.
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