How can there be a slump when there is a chip shortage? I would still think TSMC rolling in work that has been backlogged.
It takes time to ramp up factories and build the chips, and that is what is being now to clear the backlog.
But once the backlog is cleared, what happens then? They are building chips, potentially unsure if the demand will be there.
For us, it was impossible to get HR sensors a few months ago, now there is no limit to supply, but prices are still very high - I assume that is because suppliers over-paid when supply was short.