Except they aren’t getting high margins through market forces. They are pushing margins into the future through contracts on sales into the next five years. And

Except they aren’t getting high margins through market forces. They are pushing margins into the future through contracts on sales into the next five years. And the only reason they can do that is by the leverage they have as a result of the chip shortage driven by AI. That’s an abuse of their market position. They know that as new factories come online the current shortage will be resolved and their pricing power will disappear. I was equally critical when Microsoft used these types of contractual provisions.