Despite ASM International's Healthy Near-Term Outlook, Competitive Pressure Will Limit Growth
ASM International reported fourth-quarter results that capped a bounce-back year following an arduous one in 2016. The atomic layer deposition leader enjoyed solid demand from 3-D NAND and foundry chipmakers, in line with broader wafer fabrication equipment trends. While we are encouraged by the favorable near-term outlook for ALD tools given the need for more precise deposition processes, Applied Materials and other larger players are formidable competitors that have been eyeing the ALD space a...
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