Q: When the pandemic hit and demand for work-from-home and home entertainment electronics skyrocketed, did this indicate a booming economy?
A: No.
Q: Now that: the pandemic is under control, people already have their gear for at home, and some people are returning to the office, does this indicate an economy in collapse?
A: No, this is one sector going through an entirely predictable correction.
Q: Do the above answers exclude the possibility of a broad-based economic downturn?
A: No, that is still a possibility.
Do me a favor. The next time we have a shortage of something and you are wondering why the producers of those products don't invest in greater production than is normally required to meet demand, remember this moment.