once again if the memory prices are down the Sh$%er the tried and true way for memory manufacturers to compensate is to shrink die size and to come out with new products. Both of which need new razor blades (oops Probe cards) to test them with. Also if anyone listened to the snoozefest (I mean conference calls) you would know that the factory makes cards for other segments besides nand and dram memory.
I understand what you are saying, and I don't disagree. However, I am trying to understand the recent precipitous drop in FORM stock price during the past week of no news. I suspect it is sentiment, however, my fear is that someone knows something that I do not. The recent 10-Q breaks down FORM sales by end market: DRAM 66% Flash 26% logic 12%
Dram and flash memory prices have collapsed. I am harset to imagine and of the DRAM, NOR and NAND flash chip makers making any money under current pricing. Look at the stock prices of QI, MU, SPSN. Won't there come a point when these companies' financial resources are exhausted, and they no longer are able to invest in die shrinkage, new products, etc. and they must run for cash just to pay bills and service debt? This may be naive - i honestly don't know.