U.S. Stock Market Midday Update

Teradyne rose 8.50%, with increased trading volume. Based on recent key news:

1. On July 29, Teradyne announced its second-quarter financial report, with net revenue of $1.33 billion, exceeding analysts' expectations of $1.22 billion, and adjusted earnings per share of $2.47, higher than the expected $2.04. This better-than-expected performance drove the stock price up. Source: Guandian.com

2. On July 28, Teradyne forecasted that third-quarter revenue would exceed Wall Street expectations, estimating revenue between $1.2 billion and $1.3 billion, which led to a 13.5% increase in the stock price during after-hours trading. Source: Reuters

3. On July 29, Teradyne's CEO stated that strong demand related to AI is expected to support long-term growth, further boosting market confidence. Source: MarketBeat The semiconductor industry is experiencing strong demand, with increased AI investment.

Stocks with High Trading Volume in the Industry

ASML rose 1.55%, with active trading. Based on recent key news:

1. On July 28, market rumors suggested that China has begun mass production of DUV equipment competing with ASML, causing ASML's stock price to drop by as much as 8.2% during trading. Although ASML's reliance on the DUV market has decreased, market panic remains significant. Source: The Information

2. On July 27, ASML and BESI were automatically suspended from trading on the Amsterdam stock market after their stock prices fell by 8% to 8.7%, reflecting market concerns about semiconductor equipment demand. Source: Jinse Finance

3. On July 28, analysts pointed out that ASML received a rating upgrade due to strong AI-driven demand, despite facing competitive pressure from China, with a positive long-term outlook. Source: Seeking Alpha The semiconductor industry is experiencing robust demand, with ample equipment orders.

Applied Materials fell 2.60%. Based on recent key news:

1. On July 28, Michael Burry shorted Applied Materials, citing a 26% decline in its stock price from its peak and a price-to-earnings ratio of up to 53 times. China's shift to domestic equipment manufacturers and potential early capital expenditures in memory pose the biggest risks to Applied Materials' future orders. Source: Reuters

2. On July 28, the U.S. Department of Justice and SEC launched an investigation into Applied Materials regarding allegations of unauthorized shipments to Chinese semiconductor manufacturers, which could lead to heavy fines or export restrictions, affecting the company's valuation. Source: Bloomberg

3. On July 27, Applied Materials partnered with NVIDIA to utilize GPU acceleration for simulation and digital twin technology, driving innovation in semiconductor design to meet AI technology demands. Source: CNBC The semiconductor industry faces risks from U.S.-China technological competition.

Lam Research fell 1.03%, with active trading. Based on recent key news:

1. On July 29, the market was skeptical about AI infrastructure spending, leading to a downward adjustment in Lam Research's order outlook and putting pressure on its stock price. Analysts pointed out that despite strong demand, rising operational costs and the cyclical downturn in the NAND memory market were putting pressure on gross margins.

2. On July 28, analysts noted that Lam Research failed to make the list of top AI stocks, raising doubts about its future growth potential and affecting investor confidence.

3. On July 27, HSBC raised Lam Research's target price, anticipating strong growth in the wafer fabrication equipment market, which would provide short-term support for the stock price. Demand in the semiconductor equipment market remains strong amid increasing macroeconomic uncertainty.

Stocks ranked among the top in industry market capitalization

KLA fell 5.67%. Based on recent news,

1. On July 28, the U.S. and the Netherlands banned ASML from selling advanced EUV lithography machines to China, leading to increased demand for ASML's more mature DUV equipment in the Chinese market. The market is concerned that Chinese equipment manufacturers will gradually replace Western suppliers, affecting the market share of international equipment giants like KLA.

2. On July 29, KLA updated its business outlook; despite a strong earnings report, the stock price significantly corrected after the report due to unclear market sentiment, ultimately falling 6.18%, and further dropping to $174.7 in after-hours trading.

3. On July 29, KLA announced that its Q4 fiscal year 2026 earnings report and next quarter guidance both exceeded Wall Street expectations, but the stock price fell 9% in after-hours trading. Investors are worried that the semiconductor equipment industry may be at the peak of its cycle, or they may be disappointed by the modest extent of the guidance exceeding expectations. The risk of the semiconductor equipment industry cycle peaking has increased