According to number crunchers working for the Susquehanna Financial Group lead times, which is the gap between when a chip is ordered and when it is delivered was 26.3 weeks. Last month that figure was 27 weeks.

Wait times contracted for all key product categories, with power management and analogue chips seeing the most significant declines, Susquehanna analyst Christopher Rolland said in a research note.

For those with memories like goldfish the global chip shortage triggered a wide range of industries over the last year, with automakers and other manufacturers struggling to get enough semiconductors.

While some supply constraints remain, now many chipmakers are concerned about chip inventory getting too high. Which is probably proof that the markets really do not know everything.