Edward Dowd(@DowdEdward):We call this forward buying ahead of utilization. This is a natural phenomenon of any capex boom. Same thing happened during the telecom equipment/fiber build out in the late 90’s. Physical constraints, project delays and financing ultimately caused a slowdown. Eventually that earmarked forward equipment inventory started to enter the secondary market and customers stopped ordering. It’s called a cycle. The question as always is the timing.

Edward Dowd

@DowdEdward

Founder Phinance Technologies and author of Cause Unknown: The Epidemic of Sudden Death in 2021 & 2022. For event bookings: info@bigideaspeakers.com

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Edward Dowd@DowdEdward

2026.09.22 17:49

We call this forward buying ahead of utilization. This is a natural phenomenon of any capex boom. Same thing happened during the telecom equipment/fiber build out in the late 90’s. Physical constraints, project delays and financing ultimately caused a slowdown. Eventually that earmarked forward equipment inventory started to enter the secondary market and customers stopped ordering. It’s called a cycle. The question as always is the timing.

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