Top-level CPU hardware from 10 years ago is only half the speed of top-level CPUs today in single core use (relevant for most "regular" applications): gains hav

Top-level CPU hardware from 10 years ago is only half the speed of top-level CPUs today in single core use (relevant for most "regular" applications): gains have mostly been in power efficiency and adding more cores (both closely related, since you can only add more cores if you can cool them down). Laptops see a regular churn because of degrading batteries, but servers and desktops only get upgraded for better efficiency which takes a few generations to make any sense. Thus, with the slow down of new companies being established, there is less of a need for new CPUs, and existing users can easily postpone their upgrade cycle without much effect. If big customers simply switch to replacing their desktops to every 5 years instead of 4, that's a downturn of 25%.