• The fabs in use for the latest chips are typically 1 to 2 generations behind, because it’s expensive and takes a long time to get a new fab in place (these are extremely sensitive machines). Even if China could produce the exact fabs most in use today (which is already a little unlikely), ASML themselves are 2 gens ahead.

    This will likely reduce prices on older gen chips though, and those were no slumps either.