No Tricks this Halloween, just Treats from the Backlog

Shereen Vaux

Order activity for semiconductor equipment held at a moderate 60 °F. Memory continued to edge higher—albeit from freezing levels—driven by strong demand from HBM3 and, to a lesser extent, DDR5. DAO and Compute slipped last week offsetting some of the gains of Memory. DAO is coming under pressure due to persistent weakness in China and industrial markets. On the earnings front, there have not been any major surprises. However, visibility for equipment suppliers and semiconductor manufacturers is limited due to ongoing macro uncertainties and growing geopolitical tensions.