Chip Equipment & Photonics: Deep Pullback Leaders

Chip equipment and photonics names sit far below their highs even as TSMC reported another record quarter on AI chip demand. Onshore fab awards such as the new GlobalFoundries Malta fabs point to continued capital spending on tools. The basket targets the deepest pullbacks in the equipment and optical supply chain. Launch basket (equal weight): AMAT, KLAC, LRCX, COHR, LITE, CRDO, ASML Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.