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

−18.6%

% 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	$391.6	+3.81%	−19.3%	−17.7%	+52.9%	−45.8%	2026-11-12
LRCX Lam Research	Etch and deposition critical for GAA and HBM	NASDAQ US	$239.8	+4.22%	−23.9%	−11.0%	+40.5%	−44.6%	2026-10-21
KLAC KLA	Process control and inspection at leading nodes	NASDAQ US	$150.4	+3.27%	−20.0%	−21.1%	+24.2%	−50.1%	2026-10-28
8035.T Tokyo Electron	Coater/developer, etch and deposition tools	TSE Japan	¥9,110.0	−3.68%	−12.5%	−28.5%	+38.7%	−40.2%	2026-10-30
ASM.AS ASM International	ALD/epitaxy for gate-all-around transistors	Euronext Netherlands	€707.8	+1.14%	−16.2%	−1.7%	+37.3%	−34.4%	2026-10-27
ONTO Onto Innovation	Advanced-packaging metrology and lithography	NYSE US	$205.6	+3.48%	−28.5%	−15.0%	+30.2%	−45.7%	2026-11-09
CAMT Camtek	Inspection for HBM and advanced packaging	NASDAQ Israel	$124.9	+3.09%	−15.1%	−10.8%	+17.4%	−39.8%	2026-11-04
NVMI Nova	Dimensional and materials metrology	NASDAQ Israel	$318.4	+2.27%	−13.5%	−20.9%	−3.0%	−47.4%	2026-11-05

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