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With tech, including the semiconductors, rallying furiously the last month or so, it is worth keeping in mind how deep the downturn has been in the sector.

I found the following chart at the web site (hat tip to Semiconductors editor Mark Lapedus).

Semiconductor Revenues
As can be seen, a consistent theme is weak Q4 revenues followed by Q1 guidance that ranges from bad to worse.

As we move through the currently unfolding earnings season, we'll have to keep an eye on management projections for Q2. Hopefully there will be some further confirmation that we have seen the trough for semiconductor revenues.

Disclosure: none