Chip Equipment (Deposition, Etch, Inspection)

Gate-all-around transistors, backside power and HBM stacking add process steps. More steps per wafer means more tool spend per unit of capacity.

Deposition→Etch→Inspection→Yield

Tightness score ⓘ

#28 of 56

■ Stable

Supply concentration4

Lead time3

Capex intensity4

Geopolitical exposure4

Pricing power4

Lead time

9–18 mo

Theme 1M

−14.2%

% in uptrend

Metric to watch

WFE guidance, China share of revenue, and HBM/advanced-packaging tool orders.

What would prove us wrong

Weakens if WFE growth stalls while leading-node and HBM capacity keep expanding — tools would not be the gate.

Dependencies

Equal-weight · rebased 100 · 1Y

Stocks we track

Who controls this bottleneck

Roles, not recommendations. Delayed prices; local currency.

Stock	Role	Listing	Last	1D	1M	3M	YTD	Off 52w high	Next earnings
AMAT Applied Materials	Deposition and materials engineering across logic, DRAM and packaging	NASDAQ US	$380.9	−3.58%	−14.7%	−24.8%	+48.8%	−47.2%	2026-11-12
LRCX Lam Research	Etch and deposition critical for GAA and HBM	NASDAQ US	$233.8	−0.89%	−18.5%	−29.6%	+37.0%	−46.0%	2027-01-27
KLAC KLA	Process control and inspection at leading nodes	NASDAQ US	$157.3	−2.30%	−12.0%	−22.7%	+29.9%	−47.8%	2027-01-28
8035.T Tokyo Electron	Coater/developer, etch and deposition tools	TSE Japan	¥9,304.0	+0.35%	−19.5%	−14.0%	+37.8%	−40.5%	2026-10-30
ASM.AS ASM International	ALD/epitaxy for gate-all-around transistors	Euronext Netherlands	€724.2	−0.47%	−12.2%	−19.8%	+40.5%	−32.9%	2026-10-27
ONTO Onto Innovation	Advanced-packaging metrology and lithography	NYSE US	$209.7	−2.51%	−13.2%	−36.8%	+32.8%	−44.6%	2026-11-09
CAMT Camtek	Inspection for HBM and advanced packaging	NASDAQ Israel	$105.4	−1.52%	−22.3%	−36.3%	−0.9%	−49.2%	2026-11-04
NVMI Nova	Dimensional and materials metrology	NASDAQ Israel	$327.6	−3.81%	−1.1%	−21.6%	−0.2%	−45.9%	2026-11-05

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