The author notes that despite recent 10-15% declines, most semiconductors remain up 50%-200% YTD, questioning if the current dip will be bought quickly as seen in previous months. While $MU falling below $90 is described as psychologically "ugly," the author suggests it may be sweeping liquidity before moving higher. Sentiment remains cautiously optimistic as $AMZN prepares to raise $25B in bonds, which is interpreted as a signal for continued capital expenditure on semis.