The inventory corrrection cycle in the semiconductor industry is ending, Merrill Lynch & Co semiconductor analyst Tom Kurlak reckons, and as a result he is turning positive on the prospects for chipmakers: he told Dow Jones Professional Investor Report that he reckons distributors have cleared out inventories and will reorder soon, probably after the holidays, and that consumption is holding up well, and orders will come back up to consumption levels, while semiconductor stocks are down a ton, having dropped more than 50% since he turned negative on the group on October 14, 1987, and that all bad news is now in the prices.
