Wells Fargo analysts favor KLA Corp. and Applied Materials in semiconductor sector

From Seeking Alpha: 2024-07-01 14:59:33

Wells Fargo analysts favor KLA Corp. and Applied Materials as top semiconductor stocks despite high sector valuations. Wafer fab equipment spending is expected to increase to $118B in 2025 and $123B in 2026. KLA Corp. shows promise with improved sentiment and focus on 2 nanometer chip opportunities. Applied Materials benefits from strong competitive position in high-bandwidth memory investments. ASML faces challenges heading into second-quarter earnings. Lam Research sentiment is negative due to slow NAND spending recovery.



Read more at Seeking Alpha: KLA Corp., Applied Materials favored by Wells Fargo as semicaps hit all-time highs