During yesterday's earnings call, Broadcom CEO $AVGO said demand in the semiconductor market has been distorted by OEM's building inventory:

"The OEM, the end users, just go to our distributors and wipe out our inventory. So we show a resale growth of 55%, and we all know that's not real demand. People are building up buffer. There's a certain level of panic buying**.** Take that across all segments of semiconductor markets today" - Hock Tan - CEO

Source: Broadcom Earnings Call

Once this panic buying subsides and companies looking to deplete their inventories order less, we could see a significant short-term decrease in demand for semiconductors. $TSM $MU $INTC $WDC $AMD $NVDA.