Teradyne: The Market Is Ignoring The Cyclicality Of Its Business (NASDAQ:TER)

Teradyne, Inc. ( TER ) is one of the best businesses in the semiconductor supply chain, full stop. It dominates the high-end testing markets, earns very strong margins when the volumes show up, and has a very long historyI’m Emmanuel Onwusah—a financial analyst, writer, and recovering engineer. I hold FMVA® and BIDA® certifications from the Corporate Finance Institute, and I spend most of my time creating pitch decks, building models, analyzing companies, and trying to make sense of where value meets narrat ...