Chip Manufacturers & Factory Suppliers

This basket owns semiconductor manufacturers and the equipment, materials, packaging and testing businesses that enable chip production, rather than cloud operators betting on AI spending returns. The hardware drawdown creates an opportunity to assess these manufacturing franchises at reset prices, with Applied Materials down 26.3% and Lam Research down 29.7% over the past month. Upcoming earnings can clarify whether factory demand supports a recovery; export restrictions, capital-spending cuts and further valuation compression remain material risks. Launch basket (equal weight): AMAT, LRCX, KLAC, ASML, TSM, TER, TXN, ADI, ENTG, AMKR, ONTO, FORM 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.