Programmable logic inventories finished 2023 up by 22% versus the year prior, after rising by 28% sequentially in Q4 2023 – positively moving prices and lead times for the buy side. The Q4 2023 quarter-on-quarter decrease in the Commodity IQ Demand Index was within 2 percentage points of the previous forecast and is projected to offset the Q1 sourcing activity upturn. Design actions will ebb by 1% in Q1 the previous quarter, yet will increase by 13% into Q2, suggesting demand increases in H2 and beyond.