Veeco is a top beneficiary of AI data centers' shift to photonics, as its tools make the indium phosphide lasers inside 800G and 1.6T transceivers and equipment orders lead the chip cycle. It disclosed over $250M of orders for its IBD, MOCVD and WaferEtch systems, shipping from late 2026 and ramping through 2027. Its laser annealing is critical to yields for 3nm and 2nm logic and HBM at makers like TSMC and Micron, and its pending Axcelis merger should add synergies. x.com 

Aixtron and Veeco stand to benefit because indium phosphide is the real bottleneck in optical interconnect, one nothing else can replace. InP looks set to stay structurally short in both demand and supply over the next three to five years, a theme the market has not yet fully priced, which makes both equipment makers attractive. x.com  x.com 

Aixtron and Veeco will probably never see their old highs again, because semiconductor equipment makers look stretched above about 11x price-to-sales. Fifteen years of software multiple expansion have conditioned investors to accept high multiples, but equipment makers have very different margin structures. The broader bull market is still far from over even though fundamentals look overheated, with momentum doing the heavy lifting. x.com 

Broadcom's custom AI chips and networking could drive earnings beyond what its valuation implies over 2-3 years. It is the favorite semiconductor opportunity now, preferred over NVIDIA without replacing it. AI semiconductor revenue is projected at about $58B in FY2026, $115B in FY2027 and potentially $230B in FY2028. At about 17x FY2027 consensus adjusted earnings, risk/reward is compelling if growth materializes; customer commitments add visibility, but delays and financing remain risks. x.com  … Show more

ASML looks undervalued, a rare sight for this company, because its long-term AI opportunity is much bigger than the market is pricing in. AI is driving demand for advanced logic and memory chips, customers are accelerating capacity expansion, and ASML sits right in the middle of that buildout. Q2 revenue reached €9.3B with €2.9B in net income, and management raised its 2026 revenue outlook to €43B-€45B. x.com  x.com 

These ten companies span every layer of AI capex, which Goldman sees surging to $1.2 trillion in 2027, so each should make money. Credo, Broadcom, Micron, Nvidia, TSMC, AMD and Amkor cover connectivity, custom chips, memory, GPUs, foundry and packaging; Broadcom expects AI revenue of about $115B in fiscal 2027. Vistra supplies power under 20-year nuclear contracts. IREN and Nebius rent AI compute, with Nebius targeting $7-9B run-rate revenue by year end. x.com  x.com  x.com  x.com  x.com  x.com  x.com  … Show more

Investors are aggressively funding Intel as an AI infrastructure manufacturer: its upsized $20B stock offering drew over $100B of demand, about 5x oversubscribed even after a huge run. The capital supports its push to high-volume 14A production by 2028 across foundry, advanced packaging and AI silicon. Tesla and Terafab as anchor external customers make this turnaround more credible than past ones. The cost is roughly 5% dilution. x.com 

Aixtron's position is durable but not unconstrained, with optical lasers carrying the near-term case: it holds over 90% of InP MOCVD and every high-speed laser traces back to its reactors. Its share will likely erode toward 65-75% by decade-end as Veeco improves and Chinese buyers diversify, manageable if the InP tool market doubles or triples. The bigger near-term limit is capacity, as Aixtron reallocates existing lines rather than adding aggressively. 800V DC power demand looks further off. … Show more

ASML is entering a second monopoly phase as AI demand runs existing fabs at red-line capacity and pushes chipmakers to adopt High-NA EUV faster. Q1 net sales of €8.8B hit the high end of guidance at a 53% gross margin, and the 2026 outlook rose to €36-40B. €2.5B of installed-base revenue signals full utilization, and AI chips need more exposures per wafer. Export controls are in guidance. Above $1,250-1,300 the uptrend holds, though consolidation below $1,500-1,550 is likely. x.com  x.com  x.com  … Show more

ASML's blowout results undercut the bearish AI case, and the chip selloff that followed is a sell-the-news valuation correction, not a demand problem. Revenue of €9.326 billion beat by 5%, EPS by 10%, gross margin hit 54%, full-year guidance rose 16% and 2026-2028 shipments were raised. Oversupply fears from heavy tool orders look overdone, since tools take a long time to reach production and capacity doesn't translate linearly into qualified chips. JPMorgan sees 2028 EPS possibly above €65. … Show more