Read the Barron's article on the tech Supernova - one more big rally and then a big time burnout. Without new stuff tech just can't grow. Existing products are good; there is no compelling reason to get rid of the old stuff. Replacement comes gradually and doesn't provide a growth engine.
Sure it will recover. There's a huge demand for memory chips, right? And modems, everyone needs a faster modem. And video cards are so slow everyone needs each new one. Aw heck, the PC's are so slow everyone needs to upgrade. Gotta get a new monitor and printer too, and throw the old ones away.
And then there are the number of chips on each board/computer. There has to be lots more now because of the increased functionality, right?