inTEST's Q1 dip is short-term noise, since the real revenue should arrive in the second half of 2026 as orders tied to silicon photonics and HBM testing flood in. Revenue rose 27.2% to $33.9 million, margins expanded 400bp to 45.5%, backlog grew 35.5% to $51.8 million, and 2026 guidance rose to $130-135 million. The stock fell because new orders dropped 15.2% sequentially to $31.8 million, but hitting guidance implies heavy H2 orders, with volume testing lagging 1.6T sampling by 3-6 months. … Show more

Aehr Test Systems stands to benefit because testing is a bottleneck to scaling AI chips. Testing demand is about to surge. Investors did not question its price-to-sales ratio at 120, despite the current P/S objection. x.com  x.com 

inTest's first-quarter beat makes its selloff look overdone. EPS topped expectations by 77.8% and revenue rose 27%, and with the market booming, demand should carry it, even as a post the author replies to notes orders are slowing. x.com  x.com  x.com 

Aehr Test Systems stands to benefit as testing takes a larger share of expanding semiconductor capex. Teradyne CEO Greg Smith says test's share of semiconductor capex rose from 6.4% in 2025 to 8.1% in the first eight months of 2026, with conditions favorable for prolonged ATE growth. Data-center reliability is pushing testing upstream from systems toward packages and wafers, where Aehr dominates wafer-level burn-in. Aehr lacks a dedicated CPU segment. x.com 

Burn-in test is one of three areas set to run hot into the summer, alongside CPU ecosystem names and power semis, driven by the Rubin ramp and the CPU production ramp. Trio-Tech and inTEST are among the undervalued names with immediate upside. inTEST has a third tailwind from the scale-up of power semis. Capital should shift from photonics and connectivity toward these areas. Barring a prolonged Strait of Hormuz closure, other headwinds such as private credit shouldn't hit until Q3 or later. … Show more

Advantest proved it deserves a premium valuation: its SoC tester market share rose from 56% in 2024 to 66% in 2025, widening its lead over Teradyne. It also received its first high-volume ATE order for silicon photonics. x.com 

As LLMs commoditize, chip programs will multiply, favoring vendors paid per attempt: CEVA, Aehr Test Systems, inTEST, PDF Solutions and GSI Technology. Stable, cost-driven inference makes hardwired custom chips worth building, and every program pays for IP, yield and test, success or not. CEVA earns per-unit IP royalties, Aehr and inTEST scale with SKU count, PDF Solutions owns cross-fab yield data, and GSI is a risky memory-wall option. Ongoing architecture churn would make this early. x.com  … Show more

Chip testing may be the new memory: a thinly occupied, high-moat niche unknown to most investors. With far more chips everywhere, including GPUs and HBM, they cannot be installed without robust testing, which favors names such as Camtek, Aehr Test Systems, Teradyne and FormFactor. Higher valuations and slower earnings growth are no objection, since memory also looked that way many hundreds of percent ago. x.com  x.com  x.com  x.com 

Advantest beat because it simply grew at its own historical upcycle pace, which Wall Street underestimated. Revenue came in at ¥367B versus ¥336B consensus and a ¥360B forecast; analysts modeled just 2.3% sequential growth, while Advantest's median in an upcycle is closer to 10%. Earlier reports from Teradyne, TSMC and Disco had already signaled HBM4 pulling tester demand forward; Teradyne memory-test revenue below $170M or an AI mix under 65% would have broken that chain. x.com 

Teradyne's test business is surging because rising AI chip complexity multiplies testing demand. Q2 revenue was a record $1.329 billion, up about 104% and above consensus, and Semiconductor Test revenue rose 128% to $1.122 billion. Management said AI is now its primary growth engine, contributing about $1.2 billion of Q2 revenue across compute, HBM and networking. More sophisticated GPUs, ASICs and HBM need far more testing, making its high-end ATE mission-critical. x.com