$KLA(KLAC.US)

I am holding KLAC while the market swings between AI optimism and short term semicap worries. The stock moves with foundry capex sentiment, but the business has not changed as much as the chart suggests.

KLAC sits in the inspection and metrology layer that every advanced node depends on. As chips become more complex, defect detection becomes more critical, creating a durable moat.

The market focuses on who builds the fastest chips, but I focus on who makes them possible. As computing reaches new limits, controlling imperfections becomes just as valuable as creating breakthroughs. KLAC may quietly become more important as technology advances.

@Captain's Treasure