Key Takeaways AMAT expects logic, DRAM and HBM to be its fastest-growing WFE businesses in 2026.AMAT rides on FinFET-to-GAA shift, hybrid bonding and AI-driven HBM demand to fuel growth.AMAT eyes $3B in HBM, backed by complex, equipment-intensive chips and new product launches.Applied Materials (AMAT) expects its leading-edge foundry, logic, DRAM and high-bandwidth memory (HBM) to be the fastest-growing wafer fabrication equipment businesses in 2026. In Logic, AMAT’s revenues are driven by the shift from Fi ...

In the Singapore market, there are two names you can look at to participate in the semiconductor sector: UMS Integration Limited (SGX: 558), or UMS, and AEM Holdings Limited (SGX: AWX), or AEM. However, they differ in the customers they serve, their margins, and even their respective growth drivers.Let’s take a closer look at UMS and AEM to see which name offers greater long-term growth potential.Business Model ComparisonUMS focuses on front-end semiconductor equipment contract manufacturing. A key customer ...

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February 20, 2026 04:20 PM GMT Investor Presentation | Japan M Foundation Semiconductor Production Equipment: Tech Monthly Feb 2026 Morgan Stanley MUFG Securities Co., Ltd.+ Suzune Tamura, CFA Equity Analyst Suzune.Tamura@morganstanleymufg.com +81 3 6836-8891 Tetsuya Wadaki Equity Analyst Tetsuya.Wadaki@morganstanleymufg.com +81 3 6836-8890 Semiconductor Production Equipment Japan Industry View Attractive Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a re ...

Vi e w p o i n t | 20 Feb 2026 11:21:44 ET │ 17 pages US Semiconductor Equipment SPIE 2026 Investor Packet CITI'S TAKE We will be attending the SPIE Advanced Lithography conference from Feb 22-26 in San Jose, California, and hosting meetings with Lam Research, KLA and Applied Materials management teams. The conference features keynotes by a) SK Hynix on HBM technology evolution b) high-NA EUV/process control updates by ASML/IBM/TSMC, and c) Advanced packaging solutions presentations by Rapidus/Micron. Moreo ...

21 February 2026 | 12:05PM EST Equity Research GLOBAL TECHNOLOGY: SEMICONDUCTOR CAPITAL EQUIPMENT Raising 2026/27 WFE estimates, driven by memory and foundry strength Bottom Line: Positive semiconductor CapEx datapoints during 4Q earnings season drive our WFE estimates meaningfully higher. We raise our 2026/27/28 WFE estimates to $132/$160/$174 bn (+20%/+21%/+9%) from $124/$132/$144 bn (+11%/+6%/+9%) previously, reflecting recent CapEx revisions and a more constructive outlook from SPE suppliers. We see mem ...

Key Takeaways AMAT is benefiting from AI-driven demand in leading-edge foundry, DRAM and HBM equipment.Applied Materials sees 9% and 18% revenue growth for fiscal 2026 and 2027, with rising EPS estimates.AMKR expects strong 2026 advanced packaging growth but faces PC softness and margin pressure.Applied Materials (AMAT) and Amkor Technology (AMKR) are two key players in the AI infrastructure value chain serving widely different but crucial roles. While AMAT is a semiconductor equipment manufacturing company ...

Stellar Q1 Results Drive Rankings ShiftThe ranking improvement moves the company into the top 10% of its peer group, driven by record-breaking operational efficiency and an aggressive pivot toward artificial intelligence (AI) infrastructure.The primary catalyst for the rankings jump was a decisive first-quarter beat, where Applied Materials reported revenue of $7.01 billion, surpassing analyst estimates of $6.87 billion.Despite a slight year-over-year revenue dip, the company's internal efficiency remains h ...

Stellar Q1 Results Drive Rankings ShiftThe ranking improvement moves the company into the top 10% of its peer group, driven by record-breaking operational efficiency and an aggressive pivot toward artificial intelligence (AI) infrastructure.The primary catalyst for the rankings jump was a decisive first-quarter beat, where Applied Materials reported revenue of $7.01 billion, surpassing analyst estimates of $6.87 billion.Despite a slight year-over-year revenue dip, the company's internal efficiency remains h ...

Core Viewpoint - Applied Materials has shown strong institutional interest, with several investors increasing their stakes, indicating confidence in the company's future performance [1][5]. Institutional Investment - State Street Corp increased its position by 1.0%, owning 38,920,984 shares valued at $7.13 billion after acquiring 391,540 shares [1] - Geode Capital Management LLC raised its holdings by 2.0%, now owning 21,026,363 shares worth $3.84 billion after purchasing 407,282 shares [1] - Alliancebernstein L.P. boosted its position by 72.5%, owning 13,564,120 shares valued at $2.48 billion after acquiring 5,700,349 shares [1] - Ameriprise Financial Inc. increased its stake by 13.7%, now holding 8,936,363 shares valued at $1.64 billion after purchasing 1,075,525 shares [1] - Norges Bank acquired a new stake worth $1.60 billion [1] - Institutional investors and hedge funds own 80.56% of the stock [1]. Price Performance - Shares opened at $375.38, with a market cap of $297.95 billion and a P/E ratio of 38.42 [2] - The 50-day simple moving average is $304.98, and the 200-day simple moving average is $243.13 [2] - The stock has a twelve-month low of $123.74 and a high of $377.11 [2] - The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.94, and a current ratio of 2.71 [2]. Earnings and Guidance - The company reported $2.38 EPS for the last quarter, exceeding the consensus estimate of $2.21 by $0.17 [3] - Revenue for the quarter was $7.01 billion, surpassing analyst estimates of $6.88 billion [3] - The net margin was 27.78%, and return on equity was 37.52% [3] - Quarterly revenue decreased by 2.1% compared to the same quarter last year [3] - Guidance for Q2 2026 is set at 2.440-2.840 EPS, with analysts expecting 9.38 EPS for the current fiscal year [3]. Dividend Announcement - A quarterly dividend of $0.46 per share will be paid on March 12, with an annualized dividend of $1.84 and a yield of 0.5% [4] - The ex-dividend date is February 19, and the dividend payout ratio is 18.83% [4]. Analyst Ratings and Price Targets - Needham & Company raised the target price from $390.00 to $440.00, maintaining a "buy" rating [5] - Barclays increased their price target from $360.00 to $450.00, giving an "overweight" rating [5] - Morgan Stanley set a price objective of $420.00 [5] - Mizuho raised their target from $370.00 to $410.00 with an "outperform" rating [5] - TD Cowen increased their target from $315.00 to $450.00, maintaining a "buy" rating [5] - Consensus rating is "Moderate Buy" with an average price target of $363.04 [5]. Insider Activity - SVP Teri A. Little sold 4,000 shares at an average price of $238.24, totaling $952,960, reducing ownership by 4.53% [8] - CAO Adam Sanders sold 609 shares at an average price of $255.53, totaling $155,617.77, reducing ownership by 12.13% [8] - Insiders sold a total of 9,609 shares valued at $2.91 million in the last 90 days, with corporate insiders owning 0.30% of the stock [8].