Processing equipment suppliers Lam Research, Applied Materials, and Tokyo Electron compete against each other primarily in plasma etching and deposition equipment.
The processing equipment market is plateauing following strong growth of 44.7% in 2021, as global revenues dropped 10% QoQ last quarter.
For 2023, Lam Research with its large exposure of revenues to NAND memory will fare best as the memory company increases capex spend.
Applied Materials, with its large revenue exposure to foundry-made chips, will fare worse as capex spend will be flat.
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Keep it up