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Barchart
Omor Ibne Ehsan

Wells Fargo Can’t Get Enough of These 2 Semiconductor Stocks

Wells Fargo Semiconductor KLA Memory KLAC Lam

Wells Fargo believes the next leg of the semiconductor rally is ahead and can still deliver significant gains. On Thursday, the firm upgraded KLA Corp (KLAC) and Lam Research (LRCX) from "Overweight" to “Equal Weight.” The market quickly reacted and bumped up both stocks. Wells Fargo's top pick is still Applied Materials (AMAT), and it also moved higher alongside these two stocks.

Wells Fargo acknowledged semi-cap equipment names have become a “consensus long” and have already outperformed year-to-date, but the firm still expects demand data points to point to tighter logic and memory supply/demand dynamics that support further wafer fab equipment (WFE) acceleration into 2027. That setup is also consistent with other Street outlooks.

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