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

−24.3%

% 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	$390.1	−7.49%	−26.3%	−24.6%	+52.3%	−46.0%	2026-11-12
LRCX Lam Research	Etch and deposition critical for GAA and HBM	NASDAQ US	$239.1	−6.01%	−29.7%	−18.8%	+40.1%	−44.8%	2026-10-21
KLAC KLA	Process control and inspection at leading nodes	NASDAQ US	$157.9	−5.69%	−21.2%	−13.5%	+30.4%	−47.6%	2027-01-28
8035.T Tokyo Electron	Coater/developer, etch and deposition tools	TSE Japan	¥9,514.0	−5.19%	−19.5%	−11.9%	+44.8%	−37.5%	2026-10-30
ASM.AS ASM International	ALD/epitaxy for gate-all-around transistors	Euronext Netherlands	€729.8	−7.57%	−18.6%	−10.0%	+41.5%	−32.4%	2026-10-27
ONTO Onto Innovation	Advanced-packaging metrology and lithography	NYSE US	$201.6	−9.16%	−36.0%	−24.9%	+27.7%	−46.7%	2026-11-09
CAMT Camtek	Inspection for HBM and advanced packaging	NASDAQ Israel	$116.7	−7.89%	−24.1%	−16.5%	+9.7%	−43.8%	2026-11-04
NVMI Nova	Dimensional and materials metrology	NASDAQ Israel	$312.2	−6.68%	−19.2%	−20.7%	−4.9%	−48.5%	2026-11-05

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