Assuming the global economy does not enter a significant recession, semiconductor demand will be reinvigorated in the first half of early 2024, but with still-limited inventory digestion, especially amongst component distributors and EMS providers, overall Q1 semiconductor demand is expected to be sub-seasonal and uneven across product types and end markets. Increases in some areas, like AI applications, are being counterbalanced by declines or slowing growth in other sectors like automotive and industrial.