Seems to be true for most sectors, not just semis. As you know, the game is all about year over year, quarter over quarter comparisons. It's hard not to win if you catch the bottom of a cycle(when numbers are bad, but compare positively to the previous periods horrible numbers). That said, historically, the bottom comes with lower valuations and a capitulation moment. IMO, we haven't seen either yet. But, this quarter end window dressing doesn't suck.