> Doesn't it point to a drop in demand for chips Yes, but in isolation it isn't evidence of an economic downturn in general. It is evidence of the whiplash of

> Doesn't it point to a drop in demand for chips Yes, but in isolation it isn't evidence of an economic downturn in general. It is evidence of the whiplash of consumer demand shifting during COVID from services to goods and back again along with the cost of retooling the industrial plant to match that demand. There's a range of ripple effects across industries that will be ongoing for some time.