---
title: "Forget the memory chip arms race. The real trade is the 3 equipment companies every chipmaker must pay first"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287103876.md"
description: "The focus in the semiconductor industry should shift from memory chipmakers to the essential equipment suppliers: ASML, Applied Materials, and Lam Research. These companies are benefiting from strong demand and significant backlogs, with ASML raising its FY2026 revenue guidance to €36B-€40B. Applied Materials reported Q1 FY2026 revenue of $7.01B, while Lam Research's Q3 FY2026 revenue grew 23.8% year-over-year to $5.84B. Despite high valuations, these equipment vendors offer recurring revenue and backlog visibility, making them crucial players in the chipmaking ecosystem."
datetime: "2026-05-20T18:13:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287103876.md)
  - [en](https://longbridge.com/en/news/287103876.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287103876.md)
---

# Forget the memory chip arms race. The real trade is the 3 equipment companies every chipmaker must pay first

Quick Read ASML (ASML) closed 2025 with a record $45.06B backlog and raised FY2026 revenue guidance to €36B-€40B with 2030 targets reaching €44B-€60B at 56%-60% gross margin. Applied Materials (AMAT) reported Q1 FY2026 revenue of $7.01B, beating consensus by 7.84%, with DRAM jumping to 34% of Semiconductor Systems reve...

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