Amtech Systems sells equipment for AI chip packaging, which is getting harder and needs tighter thermal control, precision and yields. AI revenue in its Thermal Processing segment rose about 120% and is over 40% of the segment, which earns about 51% gross and 25% operating margins; orders outpace revenue. With $81M of cash against a $291M market cap, $140-150M of 2027 exit revenue at low-to-mid-20s EBITDA margins implies $40-45 a share. Risks: SiC weakness, a semi-fabless shift and small scale. … Show more

Amtech Systems is a turnaround bet on a savvy CEO who has repositioned it toward advanced AI packaging. Since Bob Daigle took over in 2023, a move to a largely fabless model has lifted gross margin from -2% to 48%, after seven factories, cyclical markets and an Entrepix write-down drove losses. Its reflow ovens see strong demand for GPU and HBM assembly, and panel-level packaging could add orders. Risks: it is tiny against Heller, Rehm and cheap Chinese rivals, and a shift to hybrid bonding. … Show more

Amkor's expansion in advanced packaging supports a bullish growth outlook as that work becomes more important. Packaging accounts for 88% of sales and computing revenue rose 25%; capacity spending explains negative free cash flow. Q3 EPS was $0.76, implying roughly 12x annualized earnings, while Q4 EPS guidance is $0.65-$0.75. The compute opportunity is only starting, despite the decline in mobile. x.com  x.com  x.com  x.com 

Amkor Technology is having a moment as an electronics play upstream of the hyperscalers, with strong metrics and a massive, growing backlog. The stock held its support trendline and is on the verge of breaking above its pullback resistance line. x.com 

AT&S's valuation looks too low relative to some peers given its Intel and AMD revenue exposure; ChatGPT-generated estimates of that exposure may prove too low for FY28. x.com  x.com 

AmpliTech's gross margin is back to a normal 48%, and management projects Q2 revenue to be definitely much higher than Q1. No formal guidance was given and Q1 top-line revenue was not great, but the quarter sets up well for an excellent Q2. x.com 

RS Technologies is a business that wins regardless and is undervalued today, as the world's leading semiconductor wafer recycler with about 33% share and TSMC and Sony as anchor customers. Its reclamation service, at a 38% operating margin, is needed at every step of chip production, a toll booth independent of any single technology. Its GRITEK stake plus net cash nearly equal its ~159bn yen market cap, leaving the core almost free at ~16x EV/owner FCF, or ~10x adjusted. x.com 

Applied Materials' record revenue and Q4 guidance show strong AI equipment demand, and the median analyst target implies 42.9% upside over the next 12 months. x.com 

Amkor is the leading independent way to own advanced packaging, now the enabling technology for AI chips; overweight, $85 target. Advanced packaging is 75-80% of sales. Growth should beat the industry on AI demand, customers diversifying away from Taiwan and China to Amkor's global footprint, share gains and rising complexity. The target assumes about 32x $2.65 of exit-2026 earnings power versus peers at 26x. Risks: 2.5D capacity execution, customer concentration and the Kim family stake. x.com 

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