Semiconductor Fab Tools & Test

Chipmaking complexity supports demand for fabrication equipment, process control and testing regardless of which chip designer wins. The selloff offers a more selective entry: AMAT, LRCX and KLAC are each more than 40% below their highs, while their forward earnings multiples remain well below those of several speculative chip designers. This is a cyclical equipment basket, not a defensive trade; weaker customer capital spending could prolong the drawdown. Launch basket (equal weight): AMAT, LRCX, KLAC, ASML, TER, ONTO, FORM, ENTG 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.