Stocks are registering another positive but mixed performance so far in today’s session, with the S&P up and Dow slightly down at the time of this writing.
Solid earnings news, coupled with the end of the US government shutdown crisis, helped sustain positive momentum from yesterday’s session. The S&P500 and NASDAQ are both sitting at their all-time records.
Today’s Top Performer provides a break from red-hot sectors like blockchain and pharma, reminding us that industrial stocks can deliver handy short-term profits as well.
ACM Research focuses on providing “single-wafer wet cleaning equipment,” used in the manufacture of advanced semiconductors. When fabricating advanced circuits, manufacturers utilize wafer cleaning equipment to remove microparticulates and other impurities, improving overall yield from semiconductor materials. Of late, ACMR has developed an innovative proprietary approach to this semiconductor manufacturing tech, dubbed Space Alternated Phase Shift (SAPS).
This morning, ACMR announced that the new tech has driven substantial news sales volume: $38.1 million over the last 8 weeks in full binding purchase orders. All of these orders come from existing clients based out of China and South Korea.
Investors bought ACMR’s stock heavily on the news, driving it to gains as high as 25%. ACM was sitting up 16% at the time of this writing. Tech stocks continue to lead the charge in this broad-based bull market, and semiconductor manufacturers—near the top of the tech hardware supply vertical—are a classic play for catching some tech headwinds in an industrial stock.
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