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Dow Jones index gained 300 points, Lam Research Corp rose 20.1% after reporting strong financial results. Xerox, Columbus McKinnon, and other stocks recorded gains.
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Onto Innovation raised its Q3 2026 revenue guidance to $380M-$400M and increased full-year advanced packaging growth outlook to 80% from 50%, driven by strong demand for Dragonfly inspection products and advanced nodes. The company's record backlog exceeded $1.1B with 60-70% relating to 2026, supporting second-half revenue growth of at least 25% and operating margins reaching 32-33%.
Applied Materials has entered into an agreement to increase its stake in BE Semiconductor Industries (Besi) to approximately 20% of outstanding shares.
Filed: 2026-10-26 AccNo: 0001628280-26-067303 Size: 209 KB Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
AllianceBernstein analyst Stacy Rasgon has reaffirmed a 'Buy' rating and a $700 price target for Applied Materials (AMAT).
Nvidia and Micron have benefited significantly from the AI infrastructure spending boom, with record revenues driven by demand for AI chips and memory. However, both stocks face substantial downside risk if tech giants reduce their AI investments. Nvidia's growth is heavily dependent on continued data center spending, while Micron operates in a cyclical memory business vulnerable to supply-demand imbalances. If AI spending slows, Nvidia appears better positioned to weather the downturn.
AMD stock has surged 164% in 2026 ahead of its Nov. 3 earnings report, but the author cautions against buying before the announcement. While AMD's AI accelerators and data center business show strong growth, the stock's 35x forward P/E ratio leaves no room for disappointment. The author recommends a gradual buying approach rather than a large position before earnings, noting that much of the easy gains have already been made.