Ed Ludlow

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Absolutely.

I mean, it is like no other because we've been through the pandemic, we've been through a really volatile year just now, like with the tariffs, and we still didn't see a drop like this, right?

So this is a completely different situation.

And essentially, there is just not enough memory for the players that need it.

And given that how many different products we need memory in, right?

So that's what's essentially creating the crunch.

But more importantly, it's not just about the drop now and then the market will recover.

It's about

What makes this really different and much more dire for the industry is how this is going to create a permanent change, a structural reset of the entire industry, both in terms of TAM.