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This oversupply has caused investor worry in the semiconductor industry, which will be an important metric moving forward, according to Meeks.

“Maybe in the interim, when these CEOs and CFOs speak, they tell us about their level of inventory,” said Meeks.
“Semiconductors, being an important part of the tech sector, impacts the whole shebang and I actually think it’s going to be the biggest tell,” said Meeks, citing that semiconductor inventories will forecast whether tech can “reassert its leadership.”

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