ASM International in Position for Solid Near-Term Growth, Though Competition Looms on the Horizon
ASM International reported third-quarter results in line with our expectations, led by 3D NAND and foundry end markets. Atomic layer deposition, or ALD, equipment sales to leading NAND customers continued to gain momentum as high layer count 3D NAND processes have high aspect ratios that are well addressed by ALD. We also expect leading-edge technologies for foundry and logic to drive future ALD demand. Nevertheless, we note Applied Materials, Tokyo Electron, and Lam Research also have their sig...
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