Because real markets are inefficient.
Think of it like a highway : why is there a traffic jam on this highway ? Because there was a slowdown somewhere 20 miles up the line and there is massive inertia in the system.
A slowdown somewhere has ripple effects and the inertia of those systems, in the case of semi-conductor manufacturing it takes a long time to increase production capabilities, and the theoretical elasticity of price/volume doesn't hold when you cannot increase volume magically in a week.
A slowdown somewhere has ripple effects and the inertia of those systems, in the case of semi-conductor manufacturing it takes a long time to increase production capabilities, and the theoretical elasticity of price/volume doesn't hold when you cannot increase volume magically in a week.