Applied Materials, Teradyne, and Entegris Stocks Trade Down, What You Need To Know - The Globe and Mail

The recent announcement that SK Hynix is slowing its high-bandwidth memory (HBM) expansion has triggered a sharp market reaction, affecting semiconductor stocks including Applied Materials, Teradyne, ... Read original →

SK Hynix’s HBM slowdown reflects profit-driven capacity reallocation, not weakening AI demand—standard DRAM now boasts >40% gross margins versus HBM’s ramp-phase economics. This immediately dampens near-term orders for EUV and 3nm tools, likely delaying delivery cycles for Applied Materials’ deposition modules and ASML’s advanced scanners. Tightening U.S. export controls compel Entegris and peers to rebuild high-purity chemical supply chains, lifting operational costs by 15%+. Samsung and Micron will aggressively target HBM3E share ahead of NVIDIA’s Blackwell volume ramp. Over the next 18 months, transient HBM supply gaps will widen, but AI accelerators’ bandwidth hunger ensures capex rebound—favoring equipment makers with TSV and hybrid bonding mastery.