We've seen investment in capacity go up quite a bit and we had a scare this summer with wireless. So you can make a case that the business is in trouble. We try to focus on slightly longer-term fundamentals. The relationship between spending and revenue in this business is still reasonable. Visibility is still good. Pricing is good. Let's not forget, wireless handset demand is growing 50 percent over year-on-year. So with stocks down a bit and the fundamentals still solid, we though it was time to declare the mid-cycle correction over.
Quotes about mid-cycle (6 Quotes)
It's mid-2005, and we're having a mid-cycle slowdown, not a recession, ... The problem is this bull market is old, the Fed is tightening and inflation, though benign, is going in the wrong direction.
The concerns that underpinned our mid-cycle correction thesis are beginning to dissipate, and semiconductor stocks globally are well below their March highs. We would advise investors to begin buying semiconductors more aggressively.
Technology stocks typically tend to provide leadership in mid-cycle recovery, and I think that's where we are,
This was the largest mid-cycle investment in Nissan's history.
For example, 1970, 1974, 1982, 1990 and 2002 were recession years and 1966, 1986 and 1994 were associated with mid-cycle slowdowns.