Why ACM Research Stock Exploded Today
ACM Research(ACMR) The Motley Fool·2024-02-28 16:04Shares of ACM Research (ACMR 37.45%) were surging today after the semiconductor cleaning equipment maker posted standout results in its fourth-quarter earnings report.As of 10:02 a.m. ET, the stock was up 34.8% on the news. ACM is the latest chip stock winnerACM, which supplies high-tech wafer-cleaning equipment primarily to Chinese foundries, reported 57% revenue growth, well ahead of industry-level wafer fab equipment spending in China, to $170.3 million, which was better than estimates at $149.3 million. ...