The global semiconductor manufacturing equipment and materials market is projected to reach a record $165.9 billion by 2026, a 23.2% year-over-year increase, according to SEMI’s Mid-Year Total Semiconductor Equipment Forecast released on July 14. The market is expected to further grow to approximately $229.5 billion by 2028.
Among key players in this transformation are Amkor Technology Inc. (AMKR), Ultra Clean Holdings Inc. (UCTT), and FormFactor Inc. (FORM). AMKRreported a 26% year-over-year revenue increase driven by AI and high-performance computing in Q2 2026, with earnings growth expected at 73.3% this year. UCTT anticipates a staggering 32.1% revenue growth in the current year, while FORM expects a revenue increase of 31.2% this year, fueled by demand for high-bandwidth memory.
Despite significant price surges—AMKR up 25.5%, UCTT up 180.8%, and FORM up 100.9% year-to-date—all three companies show strong upside potential with target price increases ranging from 47.6% to 110.9% from their last closing prices.
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