Group 1 - KLA Corporation (NASDAQ:KLAC) is recognized for its significant role in the artificial intelligence infrastructure alongside major companies like Nvidia and Broadcom, with analysts highlighting its strong profit margins and earnings growth [1] - The company is a leader in semiconductor process control, benefiting from high switching costs and increasing demand for advanced semiconductors, positioning it well for long-term growth despite recent stock price impacts from weaker demand in China [2] - KLA's management team is noted for its effectiveness in navigating market challenges and capitalizing on growth opportunities in other regions, which could mitigate risks associated with demand fluctuations [2]

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

第第九九届届国国际际先先进进光光刻刻技技术术研研讨讨会会 （（ IIWWAAPPSS 22002255 ）） --IIWWAAPPSS 22002255-- 第九届国际先进光刻技术研讨会（IWAPS）将于10月14-15日在深圳隆重举行！本次研 讨会由中国集成电路创新联盟、中国光学学会主办，中国科学院微电子研究所、深圳市半导 体与集成电路产业联盟（深芯盟）、南京诚芯集成电路技术研究院有限公司联合承办，诚邀 全球业界精英共赴这场光刻技术领域的学术盛宴！ 国际先进光刻技术研讨会（IWAPS），依托中国创新沃土，搭建全球交流平台。在国内 外光刻专家的鼎力支持下，在全球企业、高校、协会等的共同推动下，IWAPS持续构建覆盖 光刻设备、工艺制程、计量检测、掩模材料、计算光刻、系统协同优化及新型技术等全产业 链的尖端技术对话平台。 本届盛会特别依托深芯盟的产业集群优势，汇聚深圳及湾区半导体企业、高校与科研机 构的协同力量；同时联动湾芯展的产业生态资源，为全球领军企业提供展示创新蓝图的舞 台，为科研院所搭建核心技术攻关的交流通道，为青年学者创造技术思辨的活跃氛围，更为 投资机构提供洞察粤港澳大湾区半导体机遇的前瞻窗口。 第 ...

Nova Ltd. (NASDAQ: NVMI ) has been a quiet stellar performer over the past two years, a major player in the semiconductor equipment space. While the majority of the attention is on peers such as KLA Corporation (I am focused on Canadian stocks, Technology and growth stocks. The key to long term returns are disruptive companies that change the landscape of their industry. I also focus on Mid-Cap companies with strong management and high growth to attain alpha. I buy swing positions as well for quality compan ...

With tech companies continuing to boost AI spending, the valuation of many chipmakers are increasingly expensive. Chip stocks have become a favorite way to bet on artificial intelligence. But after big runups in companies like Broadcom Inc., investors are turning to an often overlooked group — suppliers of the gear used to make semiconductors. Most Read from Bloomberg Teradyne Inc., a provider of tools used for testing chips during the manufacturing process, has nearly doubled from an April low and is up ...

随着微软(MSFT.US)和Alphabet(GOOGL.US)等企业持续加大在人工智能领域的投入，以及许多芯片制 造商的估值愈发高昂，设备供应商已成为投资者的目标，尽管它们的估值已不再像投资者开始涌入时那 么诱人。 智通财经APP获悉，芯片股已成为投资者押注人工智能(AI)领域的热门选择。但在博通(AVGO.US)等公 司股价大幅上涨之后，投资者开始将目光转向了一个经常被忽视的板块——半导体设备供应商。 泰瑞达(TER.US)是一家芯片测试设备供应商，其股价较4月份低点上涨近一倍，自7月底以来已上涨逾 40%。与此同时，美国最大的两家半导体生产设备制造商泛林集团(LRCX.US)和科磊(KLAC.US)分别是 费城半导体指数中表现第四和第六好的股票，今年的涨幅均超过68%。 本月早些时候，泛林集团连续14个交易日上涨，这是该公司有史以来最长的连涨纪录，期间股价飙升 36%。同行应用材料(AMAT.US)也刚刚创下了8连涨的记录，累计上涨20%。 芯片设备板块受追捧 Karobaar Capital 首席投资官Haris Khurshid表示："市场显然领先于下一波人工智能资本支出浪潮，押注 晶圆厂和云服务提 ...

Kla Corporation (NASDAQ: KLAC ) has always been part of my investment portfolio among semiconductor stocks. I have always tried to recreate the entire value chain, and Kla could not be left out, given that it is a key player in the semiconductorHi there, and welcome to my profile.I’m a finance professional with over a decade of experience across global markets, with a deep focus on macroeconomic analysis, portfolio management, and equity research. I currently serve as a Senior Analyst at a European asset ma ...

Group 1: Market Forecast Adjustments - Morgan Stanley revised the 2026 global Wafer Fab Equipment (WFE) market size forecast from $122 billion (5% YoY growth) to $128 billion (10% YoY growth), primarily driven by the storage equipment sector [2] - The forecast for DRAM-related WFE was increased to $34.9 billion, nearing the optimistic expectation of $35 billion, while NAND flash-related WFE was raised to $13.8 billion, slightly below the $15 billion optimistic forecast [2] Group 2: Company Ratings and Predictions - Applied Materials' rating was upgraded to "Overweight" with a target price increase from $172 to $209, reflecting a significant valuation discount compared to Lam Research [3] - Lam Research's rating was raised to "Equal-weight" with a target price increase from $92 to $125, acknowledging a recovery in the storage market and an increase in 2026 EPS forecast from $5.12 to $5.43 [4] - KLA's rating was maintained at "Equal-weight," with a target price increase, but concerns were raised about its high valuation compared to peers, despite an increase in 2026 EPS forecast from $37.11 to $39.03 [5]

Core Viewpoint - Morgan Stanley has revised its 2026 Wafer Fab Equipment (WFE) market forecast and adjusted ratings for three key semiconductor equipment stocks, upgrading Applied Materials to "Overweight," Lam Research to "Equal-weight," and downgrading KLA to "Equal-weight" [1][2]. WFE Market Forecast - The global WFE market size forecast for 2026 has been raised from $122 billion (5% YoY growth) to $128 billion (10% YoY growth), primarily driven by the storage equipment sector [2]. - The forecast for DRAM-related WFE has been increased to $34.9 billion, nearing the optimistic expectation of $35 billion, while NAND flash-related WFE is raised to $13.8 billion, slightly below the optimistic forecast of $15 billion [2]. Applied Materials - Applied Materials' rating has been upgraded from "Neutral" to "Overweight," with the target price increased from $172 to $209 [2]. - The stock is currently valued 25% lower than Lam Research, with a historical average valuation gap of only 10% since 2023; the new target price suggests a narrowing of this discount to 15% [2]. - The expected earnings per share (EPS) for 2026 has been raised from $9.58 to $10.45, reflecting strong growth potential [2]. Lam Research - Lam Research's rating has been upgraded from "Underweight" to "Equal-weight," with the target price increased from $92 to $125 [3]. - The EPS forecast for 2026 has been adjusted from $5.12 to $5.43, acknowledging a recovery in the storage market [3]. - Despite a predicted 3% decline in WFE demand in the Chinese market, NAND-related WFE demand is expected to grow by 34%, and non-China logic chip WFE demand by 16% [3]. KLA - KLA's rating remains at "Equal-weight," with the EPS forecast for 2026 raised from $37.11 to $39.03, indicating recognition of its strong fundamentals [4]. - However, KLA's valuation is currently 30% higher than that of Applied Materials and Lam Research, raising concerns about the sustainability of its relative performance advantage [4].

Core Viewpoint - Morgan Stanley has revised its 2026 Wafer Fab Equipment (WFE) market forecast and adjusted ratings for three key semiconductor equipment stocks, raising Applied Materials to "Overweight," Lam Research to "Equal-weight," and lowering KLA to "Equal-weight" [1] Group 1: WFE Market Forecast - The global WFE market size forecast for 2026 has been increased from $122 billion (5% year-on-year growth) to $128 billion (10% year-on-year growth), primarily driven by the storage equipment sector [2] - The forecast for DRAM-related WFE has been raised to $34.9 billion, nearing the optimistic expectation of $35 billion, while NAND flash-related WFE is adjusted to $13.8 billion, slightly below the optimistic forecast of $15 billion [2] - Analysts expect stronger DRAM prices to lead to more aggressive DRAM capital expenditure plans, while improvements in NAND flash capital expenditure may experience some lag [2] Group 2: Applied Materials - Morgan Stanley upgraded Applied Materials' rating from "Equal-weight" to "Overweight" and raised the target price from $172 to $209 [3] - The current valuation of Applied Materials is 25% lower than Lam Research, with a target price adjustment indicating a narrowing of this discount to 15% [3] - The 2026 earnings per share (EPS) forecast for Applied Materials has been increased from $9.58 to $10.45, reflecting strong growth potential [3] Group 3: Lam Research - Lam Research's rating has been upgraded from "Underweight" to "Equal-weight," with the target price raised from $92 to $125 [4] - The 2026 EPS forecast for Lam Research has been increased from $5.12 to $5.43, acknowledging a recovery in the storage market [4] - Despite a predicted 3% decline in WFE demand from the Chinese market, NAND-related WFE demand is expected to grow by 34%, and non-China logic chip WFE demand is projected to increase by 16% [4] Group 4: KLA - KLA's strong fundamentals are acknowledged, with significant growth drivers from TSMC, DRAM, and advanced packaging businesses [5] - However, KLA's valuation is currently 30% higher than that of Applied Materials and Lam Research, raising concerns about the sustainability of its relative performance advantage [5] - The 2026 EPS forecast for KLA has been increased from $37.11 to $39.03, indicating recognition of its strong fundamentals [6]