Core Viewpoint - KLA Corporation's stock fell 11.5% despite reporting second-quarter earnings that exceeded Wall Street's expectations, indicating investor concerns over the company's challenges rather than its financial performance [1][3]. Financial Performance - KLA reported adjusted earnings of $8.85 per diluted share, surpassing the expected $8.80, with revenue reaching $3.30 billion, a 7.1% increase year-over-year [2]. - The company's earnings jumped 41% compared to the previous year, while sales exceeded analyst expectations [2]. Challenges and Market Reaction - CFO Bren Higgins highlighted longer equipment delivery lead times due to component shortages and tariff expenses impacting profitability, which contributed to investor concerns [3]. - The stock had previously gained 140% over the past year, leading to a sell-off as investors reacted to the earnings report, viewing it as a profit-taking retreat rather than a disappointing outcome [4][7]. Competitive Position - KLA's market position remains strong, as it offers essential products with no serious alternatives, particularly in the high-end semiconductor manufacturing sector [6]. - The company is expected to continue experiencing robust business growth as demand for leading-edge tools in chip foundries persists [6].

Group 1 - Deep-pocketed investors have adopted a bearish approach towards KLA, indicating that significant market movements may be imminent [1] - The options activity for KLA has been extraordinary, with 36% of heavyweight investors leaning bullish and 43% bearish, including 35 puts totaling $3,061,187 and 88 calls amounting to $16,155,840 [2] - The major market movers are focusing on a price band between $590.0 and $2180.0 for KLA over the last three months [3] Group 2 - Analyzing volume and open interest is crucial for tracking liquidity and interest in KLA's options, particularly within the strike price range of $590.0 to $2180.0 over the last 30 days [4] - KLA's current trading volume stands at 1,271,317, with the stock price down by -12.13% at $1540.0, and RSI indicators suggest it may be approaching overbought conditions [7] - Market experts have issued ratings for KLA, with a consensus target price of $1642.0, highlighting the potential for higher profits through strategic trading despite the associated risks [6]

Core Viewpoint - KLA stock has more than doubled in the past 12 months, but shares experienced a decline following its earnings report [1] Group 1 - KLA's stock performance over the past year indicates significant growth, with a doubling in value [1] - The decline in share price after the earnings report suggests potential concerns among investors regarding the company's financial performance or future outlook [1]

Core Viewpoint - KLA Corporation (KLAC.US) experienced a significant drop of 10% in stock price, closing at $1513.01, despite reporting better-than-expected earnings for Q2 of fiscal year 2026, with revenue of $3.3 billion and adjusted EPS of $8.85 [1] Financial Performance - For Q2 of fiscal year 2026, KLA reported revenue of $3.3 billion and adjusted EPS of $8.85, both exceeding market expectations [1] - The guidance for Q3 indicates expected revenue of approximately $3.35 billion, with a fluctuation of $150 million, and non-GAAP diluted EPS expected to be around $9.08, with a fluctuation of $0.78 [1] Market Reaction - The market reaction to KLA's earnings report was negative, attributed to concerns over the company's valuation being at historical highs and a warning regarding the slowdown in revenue growth, which has been declining for three consecutive quarters [1] - Investors had anticipated stronger growth driven by artificial intelligence, which was not reflected in the company's guidance [1]

市场分析普遍认为，此次"业绩利好、股价走跌"的背离现象，主要源于投资者对科磊估值处于历史高位 的担忧，以及对公司营收增速已连续三个季度放缓的警惕。 智通财经APP获悉，周五，科磊(KLAC.US)大跌10%，报1513.01美元。消息面上，科磊公布，截至2025 年12月31日的2026财年第二财季营收33亿美元，调整后每股收益8.85美元，均超出市场预期。然而，科 磊对第三财季的业绩指引未能满足市场预期。该公司第三财季指引显示，预计收入为33.5亿美元上下浮 动1.5亿美元。非GAAP稀释后每股收益预计为9.08美元上下浮动0.78美元。这一指引未能满足市场对加 速增长的期待。增长幅度相对温和，未能体现出人工智能驱动下的强劲加速态势。 ...

Market Movements - US stock index futures are all down, with Dow futures down 0.32%, S&P 500 futures down 0.37%, and Nasdaq futures down 0.49% [1] - European indices show positive movement, with Germany's DAX up 1.04%, UK's FTSE 100 up 0.45%, France's CAC40 up 0.76%, and the Euro Stoxx 50 up 1.04% [2][3] - WTI crude oil is down 0.61% at $65.02 per barrel, while Brent crude oil is down 0.73% at $69.08 per barrel [3][4] Market News - Trump's nomination of Kevin Warsh for the Federal Reserve chair may face hurdles due to ongoing investigations, with some Republican senators indicating they will block nominations until legal issues are resolved [5] - The financial market perceives Warsh as a more hawkish candidate compared to current chair Powell, potentially leading to tighter monetary policies [5] - Gold and silver prices have seen significant declines, with gold dropping over 5% to $5,099 per ounce and silver down over 12% to $101.4 per ounce, raising concerns about the sustainability of recent price increases [6] - The temporary agreement between Trump and Senate Democrats aims to prevent a government shutdown, although further negotiations are ongoing [6] Investment Strategies - Bank of America indicates that global stock markets are flashing sell signals, with 89% of MSCI stock index prices above their 50-day and 200-day moving averages, surpassing the 88% threshold considered a sell signal [7] - Jeff Gundlach, known as the "new bond king," advises avoiding the US market due to high inflation and a weakening dollar, recommending a 30%-40% allocation to non-US stocks, particularly emerging markets [8] Company News - Apple reported record Q1 earnings of $143.8 billion, a 16% year-over-year increase, driven by a 23% increase in iPhone revenue to $85.3 billion, with significant growth in the Greater China region [9] - Apple CEO Tim Cook announced a partnership with Google to develop a more personalized Siri, while also warning of supply constraints due to 3nm chip production limitations [10] - Sandisk's Q2 revenue is projected to grow 61.2% to $3.03 billion, exceeding market expectations, with a strong performance in data center and consumer segments [11] - Western Digital reported a 25% increase in revenue to $3.02 billion, with net profit surging 296%, driven by AI infrastructure demand [12] - KLA Corporation's Q2 revenue grew 7.2% to $3.3 billion, benefiting from AI infrastructure expansion, but concerns about valuation risks have emerged [13] - Visa's Q1 adjusted earnings were $3.17 per share, a 15% increase, with total payment volume reaching $3.87 trillion, exceeding expectations [14] - ExxonMobil's Q4 adjusted net profit was $1.71 per share, driven by increased oil production and refining margins, while Chevron's Q4 adjusted earnings were $1.52 per share, with plans for production growth [15][16] - Coterra Energy and Devon Energy are reportedly in talks for a potential merger, which could be one of the largest oil and gas deals in recent years [17]

Core Insights - KLA reported revenue of $3.3 billion for the quarter ended December 2025, reflecting a year-over-year increase of 7.2% and exceeding the Zacks Consensus Estimate of $3.26 billion by 1.02% [1] - The company's EPS for the quarter was $8.85, up from $8.20 in the same quarter last year, also surpassing the consensus estimate of $8.82 by 0.36% [1] Revenue Breakdown - Semiconductor Process Control revenues reached $3 billion, exceeding the average estimate of $2.94 billion, with a year-over-year increase of 9% [4] - Specialty Semiconductor Process revenues were $140.58 million, slightly below the estimated $144.58 million, showing a decline of 12.4% year-over-year [4] - Service revenues amounted to $786.05 million, surpassing the average estimate of $751.55 million, marking a year-over-year increase of 17.8% [4] - Product revenues were reported at $2.51 billion, slightly above the average estimate of $2.49 billion, with a year-over-year growth of 4.2% [4] - PCB and Component Inspection revenues totaled $152.18 million, below the average estimate of $159.69 million, reflecting a year-over-year decrease of 5.5% [4] Stock Performance - KLA's shares have returned 33.9% over the past month, significantly outperforming the Zacks S&P 500 composite, which saw a change of 0.8% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Core Insights - KLA reported strong financial results for the December quarter, with revenue of $3.3 billion and a 17% year-over-year growth, driven by investments in advanced foundry/logic and memory technologies [1][4] - The company highlighted AI infrastructure demand as a significant growth driver, particularly in advanced logic, high bandwidth memory (HBM), and advanced packaging [2][6] - KLA's full-year results for 2025 showed record revenue of $12.745 billion, a 17% increase year-over-year, with a non-GAAP gross margin of 62.8% and a 29% rise in earnings per share [3][6] Financial Performance - KLA's non-GAAP diluted EPS for the December quarter was $8.85, while GAAP diluted EPS was $8.68 [1] - The company generated free cash flow of $4.4 billion, marking a 30% increase year-over-year, and returned $3 billion to shareholders through dividends and share repurchases [3][6] - The services business generated $786 million in revenue for the December quarter, reflecting an 18% year-over-year growth [8] Market Outlook - KLA guided for March quarter revenue of $3.35 billion ± $150 million and non-GAAP EPS of $9.08 ± $0.78, with expectations for the 2026 total WFE + packaging market to be in the mid-$130 billion range [5][14] - The company anticipates continued growth in advanced packaging, with year-over-year growth expectations in the mid- to high-teens [11] - Management expects the core WFE market to grow in the high single- to low double-digit percentage range, with advanced packaging projected to reach approximately $12 billion [15] Industry Dynamics - KLA noted that DRAM is expected to grow faster than foundry/logic, driven by HBM demand, with industry forecasts indicating DRAM growth of roughly 15%–20% [21] - The company is experiencing supply constraints, with many products virtually sold out in the first half of 2026, affecting shipment decisions made in mid-2025 [21] - Rising process control intensity in memory, particularly DRAM tied to HBM, is driving tighter requirements for inspection and metrology [13]

Group 1 - The core viewpoint of the article highlights that KLA Corporation (KLAC.US) reported record revenue of $3.3 billion for Q2 of fiscal year 2026, representing a year-over-year growth of approximately 7.2%, surpassing market expectations of $3.26 billion [1] - The company achieved a GAAP net profit of $1.15 billion, translating to a diluted earnings per share (EPS) of $8.68, compared to $6.16 in the same period last year [1] - Non-GAAP diluted EPS reached $8.85, exceeding the average analyst expectation of $8.80, driven by strong demand in advanced process logic chips and HBM-driven DRAM sectors [1] Group 2 - The CEO, Rick Wallace, emphasized KLA's dominant position in semiconductor process control, making it a key beneficiary as semiconductor manufacturers transition to more precise technology nodes [2] - Despite strong financial metrics and positive future outlook, KLA's stock price experienced a significant decline of over 8% in after-hours trading, reflecting market profit-taking due to concerns over high valuation and slowing revenue growth over the past three quarters [2] - The company's free cash flow of $1.26 billion, while robust, fell slightly short of some sell-side expectations, prompting the capital market to reassess its growth resilience amid cyclical fluctuations in the semiconductor industry [2]

KLA Corp beat Wall Street expectations for second-quarter revenue and profit on Thursday, as enterprises ramped up orders for its chip fabrication tools used to manufacture advanced artificial intelli... ...