This report analyzes $NVMI, (+0,2%) an Israel-based provider of metrology and process control systems for the semiconductor industry. The company's current market capitalization is around USD 9.5 billion. To achieve a tenfold (10x) increase, Nova would have to grow to a valuation of USD 90 to 100 billion in the coming years.

I. First the summary

The path to 10x potential

Nova Ltd. is a critical technology enabler whose metrology solutions are imperative for the manufacture of advanced semiconductors (advanced nodes, 3D stacking). The central investment thesis for a tenfold increase is based on the exponential increase in metrology demand (dollar content per wafer) in advanced architectures such as High-Bandwidth Memory (HBM) and Gate-All-Around (GAA).

To reach the targeted market capitalization of USD 95 billion (maintaining the current high EV/Revenue multiple of 11.5x), Nova would need to achieve annual revenues of approximately USD 8.26 billion. This implies a compound annual growth rate (CAGR) of approximately 65% over five years (2025-2030), which is well above current consensus estimates (7.3% to 9.1%). The 10x potential is therefore theoretically feasible, but only through over-cyclical, structural growth in the HBM and ATM metrology niches.

The greatest risk is the high customer concentration and the inherent volatility of the semiconductor CapEx cycle.

II Business model and management

Nova Ltd (NVMI) develops and distributes metrology equipment for advanced process control in semiconductor manufacturing. Metrology is the essential quality control step that directly determines yield and profitability in miniaturization to 3nm or 2nm nodes.

The product portfolio includes metrology solutions for critical process steps such as lithography, etching, planarization (CMP), and advanced packaging. The most important areas are

Dimensional metrology: measurement of critical dimensions and alignment.

Film thickness and material metrology: Precise measurement of thin films.

Chemical metrology: Monitoring of chemical processes, critical for complex 3D architectures such as HBM.

Nova serves all major global manufacturing regions, including Israel, Taiwan, the United States, China and Korea.

The company was founded in 1993 by Giora Dishon (PhD in Materials Science) and Moshe Finarov (PhD in Semiconductor Physics), reflecting its technological depth. The current top management includes:

Gabriel Waisman President and CEO

Eitan Oppenhaim Executive Chairman of the Board

Dr. Shay Wolfling Chief Technology Officer (CTO)

The strategic leadership, supported by Dr. Wolfling, is driving the expansion of the Total Addressable Market (TAM) through targeted acquisitions, such as the acquisition of German ancosys GmbH in 2022, which strengthened the expertise in chemical metrology that is critical to HBM architectures. Remuneration (including restricted stock units) is geared towards the long-term commitment of management to the company's growth.

III The moat

Nova's moat is based on two main pillars: High switching costs and technological specialization.

Metrology systems are deeply integrated into the highly complex, automated production lines (Fabs). Replacing a qualified measurement tool is extremely costly, time consuming and jeopardizes critical yields in nanometer manufacturing. This deep integration creates high switching costs for customers and strengthens Nova's market position.

In the metrology market, which is dominated by market leader KLA Corporation (KLAC), Nova is positioning itself as a key challenger with an estimated 18 percent market share in the process control segment.

Nova's competitive advantage lies in its specialization in integrated metrology: measurements are taken directly during the process (real-time control).

Material metrology: expertise in dimensional and chemical monitoring.

The strength of this niche moat is reflected in its financial profitability:

Nova Ltd. $NVMI (+0,2%) / KLA Corporation $KLAC (+0,29%) / Lam Research $LRCX (+0,88%)

Market Share (Process Control) ~18% / ~55% / N/A

Operating Margin (TTM) 32.16% / 38.20% / 32.31%

Market capitalization (USD) $9.19B / $9.63B / $140.15B

The operating margin of 32.16% is on par with much larger industry players, demonstrating Nova's ability to command a price premium in its specialized niches.

IV. Margins and sales development

Nova's financial structure is characterized by high profitability and volatility inherent in the semiconductor cycle.

The company experienced strong sales growth during the post-pandemic chip boom (54.46% growth in 2021; 37.16% growth in 2022). The industry-wide CapEx decline led to a 9.25% drop in sales to USD 517.92 million in 2023.

However, the recovery is strong: last twelve months (LTM) revenue through Q2 2025 increased 43.69 percent to USD 807.09 million, demonstrating the critical nature of NVMI technology.

Profitability is stable and high, a strong indicator of the moat:

Gross Margin was exceptionally stable between 2017 and 2022, consistently above 54 percent, mostly above 55 percent.

The EBIT margin expanded significantly, from 16.18% (2019) to 27.01% (2021) and remained at 26.27% in 2022.

These high and rising margins demonstrate strong operating leverage. Any increase in sales in the next cycle (HBM/GAA) should lead to a disproportionately high increase in net profit.

V. Growth catalysts and investment conclusion

The 10x potential depends on the successful penetration of two structural technology trends: HBM revolution (high-bandwidth memory)

The AI boom is driving demand for HBM, whose market could grow to over USD 100 billion by 2030. HBM manufacturing requires extremely complex 3D stacking and advanced packaging. Nova reported record results in the HBM segment due to its leadership in chemical metrology. A leading memory manufacturer has also adopted the Nova Syntronics platform for key applications in HBM, as it offers unique solutions to problems such as wafer warpage in 3D structures.

The transition to the GAA architecture (from 2nm nodes) requires a multiplication of the metrology content per wafer, as the new transistor structures are much more complex. Nova expects the revenue acceleration from ATM starting in 2026, and the ability to deliver these new, precise measurements is the structural lever that expands Nova's TAM and accelerates growth beyond the pure CapEx cycle.

Nova Ltd. is structurally well positioned as a highly specialized niche player with high operating leverage and a technology-based moat to benefit from the increasing metrology demand in the semiconductor industry.

However, the share is already trading at a premium P/E of 43.81. The market is already pricing in strong growth. The tenfold potential (10x) is only achievable if Nova further expands its technological leadership in HBM and GAA and gains massive market share there, increasing sales growth forecasts from 9 percent to over 30-40 percent CAGR.

Successfully manages the risk of high customer concentration (over 10% sales from two main customers) and diversifies its customer base.

It is a high-risk bet on exponential technological growth, which requires continuous, flawless management execution to achieve the extremely high growth forecasts.

management to achieve the extremely high growth targets.

I will only buy here after a corresponding setback of at least 20%. What is your opinion?

After my first post on humanoid robots received a lot of positive feedback, I went into more detail. I have subsequently added my favorites in each sector.

Extended analysis of the value chain including shovel manufacturers and potential hidden champions

New categorySecondary key sectors (sales, marketing, financing)

In additionTop 25 companies worldwide, as well as Top 10 Europe and Top 10 Asia

I have also added a video link for beginners. This will give you an idea of how far the development of humanoid robotics has already progressed.

https://www.stern.de/panorama/wissen/humanoider-roboter---wie-reagiert-er-auf-beleidigungen--35996156.html

Thank you for your attention and your support 🙏

🌐 1. value chain of humanoid robots (with hidden champions)

1. research & chip design

$ARM (+0,42%) ARM (UK) - CPU-IP, energy-efficient processors

$SNPS (+0,37%) Synopsys (US) - EDA software, chip design

$CDNS (+0,52%) Cadence (US) - EDA & Simulation

$PTC PTC (US) - Engineering Software, CAD/PLM

$DSY (-1,25%) Dassault Systèmes (FR) - 3D Design & Digital Twin

$SIE (+0,11%) Siemens (DE) - Industrial Software & Lifecycle Mgmt

$ADBE (+0,76%) Adobe (US) - Design, AR/UX

ANSYS (US) - multiphysical simulation - acquisition by Synopsis

Altair (US) - CAE, simulation, digital twin - acquisition by Siemens

$HXGBY (+0,48%)
Hexagon (SE) - Metrology & Simulation

$AWE (+0,36%) Alphawave IP Group (UK) - High-speed chip IP for AI/robotics

1.Synopsis, 2.Siemens and 3.Adobe are my top 3 in this sector

2. manufacturing technology & equipment

$ASML (+0,85%) ASML (NL) - Lithography (EUV)

$AMAT (+0,99%) Applied Materials (US) - Semiconductor equipment

$8035 (+0,75%) Tokyo Electron (JP) - wafer fabrication

$KEYS (+1,53%) Keysight Technologies (US) - Metrology

$6857 (+1,98%) Advantest (JP) - Chip test systems

$TER (+0,96%) Teradyne (US) - test systems + cobots

$6954 (+0,4%) Fanuc (JP) - Industrial robots, CNC

$CAT (+0,61%) Caterpillar (US) - autonomous machines

$KU2G KUKA (DE) - industrial robots

Comau (IT) - automation - not listed on the stock exchange

$ROK Rockwell Automation (US) - industrial automation

$JBL (+0,46%) Jabil (US) - contract manufacturing (EMS/ODM)

$KIT (-0,66%) Kitron (NO) - European EMS/ODM manufacturer

$AIXA (+0,5%) Aixtron (DE) - deposition equipment for compound semiconductors

$LRCX (+0,88%)
Lam Research (US) - Etch/deposition systems

$MKSI (+0,58%)
MKS Instruments (US) - Plasma/vacuum technology

$ASM (+0,37%)
ASM International (NL) - Deposition systems

1.ASML, 2.Keysight Technologies, 3.Fanuc are my top 3 in this sector

3. chip manufacturing (foundries)

$TSM (+1,1%) TSMC (TW) - leading foundry

$SMSN Samsung Electronics (KR) - foundry + memory

$GFS (+0,36%) GlobalFoundries (US) - specialty chips

$INTC (-0,01%)
Intel Foundry Services (US) - new western foundry player

$981
SMIC (CN) - largest Chinese foundry

$UMC
UMC (TW) - Power/RF/Embedded chips

1.TSMC, 2.Intel, 3.Samsung Electronics are my top 3 in this sector

4. computing & control unit ("brain")

$NVDA (+0,18%) Nvidia (US) - GPUs, AI chips

$INTC (-0,01%) Intel (US) - CPUs, FPGAs

$AMD (+0,43%) AMD (US) - CPUs, GPUs

$MRVL (+2,59%) Marvell (US) - Network Chips

$MU (+1,17%) Micron (US) - Memory

$DELL (+0,94%) Dell Technologies (US) - Edge & Infrastructure

Graphcore (UK) - AI chips (IPU) - not a listed company

Cerebras (US) - Wafer-scale engine - not a listed company

SiPearl (FR) - European HPC chip - not a listed company

1.Nvidia, 2.Marvell, 3.Micron are my top 3 in this sector

5. sensors ("senses")

$6758 (-0,82%) Sony (JP) - image sensors

$6861 (+0,79%) Keyence (JP) - Industrial sensors

$STM (+0%) STMicroelectronics (FR/IT) - Sensors, MCUs

$TDY Teledyne (US) - optical/infrared sensors

$CGNX (+0,53%) Cognex (US) - Machine Vision

$HON (+0,18%) Honeywell (US) - sensor technology, security

ANYbotics (CH) - autonomous sensor fusion - not a listed company

$AMBA (+0,6%) Ambarella (US) - video & computer vision SoCs for real-time image recognition

$OUST
Velodyne Lidar (US) - Lidar sensors - acquisition by Ouster

$AMS (+1,1%)
OSRAM (AT/DE) - optical sensors

1.Teledyne, 2.Keyence, 3.Ouster are my top 3 in this sector

6. actuators & power electronics ("muscles")

$IFX (+0,6%) Infineon (DE) - Power Electronics

$ON (+0,66%) onsemi (US) - Power & Sensors

$TXN (+0,49%) Texas Instruments (US) - Mixed-Signal Chips

$ADI (+0,93%) Analog Devices (US) - Signal Processing

$PH Parker-Hannifin (US) - Hydraulics/Pneumatics

$MP (+0,84%) MP Materials (US) - Magnets

$APH (+0,34%) Amphenol (US) - Connectors

$6481 (+0,41%) THK (JP) - Linear guides & actuators

$6324 (+1,74%)
Harmonic Drive (JP) - Precision gears & servo drives for robotics

$6594 (+2,46%)
Nidec (JP) - Electric motors

$6506 (+1,47%)
Yaskawa (JP) - Drives & Robotics

$SU (+0,33%)
Schneider Electric (FR) - Energy & control solutions

$ZIL2 (+0,24%)
ElringKlinger (DE) - Battery & fuel cell technology, lightweight construction

1.Parker-Hannifin, 2.MP Materials, 3.Infinion are my top 3 in this sector

7. communication & networking ("nerves")

$QCOM (+0,64%) Qualcomm (US) - mobile communications, edge AI

$ANET (-0,07%) Arista Networks (US) - Networks

$CSCO (+0,2%) Cisco (US) - Networks, Security

$EQIX (+0,29%) Equinix (US) - Data centers

NTT Docomo (JP) - 5G/6G carrier - not a listed company

$VZ Verizon (US) - Telecommunications

$SFTBY SoftBank (JP) - Carrier + Robotics

$ERIC B (+0,32%)
Ericsson (SE) - 5G/IoT infrastructure

$NOKIA (-0,42%)
Nokia (FI) - 5G/6G for industry

$HPE (+0,33%)
Juniper Networks (US) - Network technology - acquisition by HP

1.Arista Networks, 2.SoftBank, 3.Cisco are my top 3 in this sector

8. energy supply

$3750 (+2,01%) CATL (CN) - Batteries

$6752 (+1,59%) Panasonic (JP) - Batteries

$373220 LG Energy (KR) - Batteries

$ALB (+1,57%) Albemarle (US) - Lithium

$LYC (-1,33%) Lynas (AU) - Rare earths

$UMICY (-1,92%) Umicore (BE) - recycling

WiTricity (US) - inductive charging - not a listed company

$ABBN (+0,22%) Charging (CH) - charging infrastructure

$SLDP
Solid Power (US) - Solid state batteries

Northvolt (SE) - European batteries - not a listed company

$PLUG
Plug Power (US) - fuel cells

$KULR (+2,54%)
KULR Technology (US) - Thermal management & battery safety for mobile systems

1.Albemarle, 2.CATL, 3.Panasonic are my top 3 in this sector

9. cloud & infrastructure

$AMZN (+0,6%) Amazon AWS (US) - Cloud, AI

$MSFT (+0,28%) Microsoft Azure (US) - Cloud, AI

$GOOG (+0,44%) Alphabet Google Cloud (US) - Cloud, ML

$VRT
Vertiv Holdings (US) - Data center infrastructure (UPS, cooling, edge)

$ORCL (+1,39%)
Oracle Cloud (US) - ERP + Cloud

$IBM (+0,21%)
IBM Cloud (US) - Hybrid cloud + AI

$OVH (+0,95%)
OVHcloud (FR) - European cloud

1.Alphabet, 2.Microsoft, 3.Oracle are my top 3 in this sector

10. software & data platforms

$PLTR (+0,51%) Palantir (US) - Data integration

$DDOG (+0,13%) Datadog (US) - Monitoring

$SNOW (+0,53%) Snowflake (US) - Data Cloud

$ORCL (+1,39%) Oracle (US) - Databases, ERP

$SAP (+0,5%) SAP (DE) - ERP systems

$SPGI (+0,3%) S&P Global (US) - financial/market data

ROS2 Foundation - robotics middleware - not listed on the stock exchange

$NVDA (+0,18%) NVIDIA Isaac (US) - robotics development - part of Nvidia

$INOD (+0,16%) Innodata (US) - data annotation & AI training data

$PATH (+0,86%)
UiPath (RO/US) - Robotic process automation

$AI (+1,39%)
C3.ai (US) - AI platform

$ESTC (+0,08%)
(NL/US) - Search & data analysis

1.S&P Global, 2.Palantir, 3.Datadog are my top 3 in this sector

11. end applications / robots

$ABBN (+0,22%) ABB (CH/SE) - Industrial Robots

$6954 (+0,4%) Fanuc (JP) - Industrial robots

$TSLA (+0,1%) Tesla Optimus (US) - humanoid robot

$9618 (-0,34%) JD.com (CN) - logistics robot

$AAPL (+0,22%) Apple (US) - Platform & UX

$700 (-0,04%) Tencent (CN) - Platform & AI

$9988 (+0,16%) Alibaba (CN) - logistics & platform

PAL Robotics (ES) - humanoid robots - not a listed company

Neura Robotics (DE) - cognitive humanoid robots - not a listed company

$TER (+0,96%) Universal Robots (DK) - cobots - belongs to the Teradyne Corporation

Engineered Arts (UK) - humanoid robots - not a listed company

$ISRG (+0,23%) Intuitive Surgical (US) - surgical robotics

$GMED (+0,46%)
Globus Medical (US) - surgical robotics (ExcelsiusGPS platform)

$7012 (+2,22%) Kawasaki Heavy Industries (JP) - industrial robots, automation

$CPNG (+0,3%) Coupang (KR) - Logistics end user

$IRBT (+0,43%)
iRobot (US) - consumer robotics (e.g. Roomba), non-humanoid, but navigation/sensor fusion

Boston Dynamics (US) - humanoid & mobile robots-no listed company

Hanson Robotics (HK) - humanoid robots (Sophia) - not a listed company

Agility Robotics (US) - humanoid robot "Digit" - not a listed company

1.Apple, 2.Tencent, 3.Alibaba are my top 3 in this sector

🛠 2. cross enablers (shovel manufacturers) - with hidden champions

Raw materials & battery materials

Albemarle - Lynas - Umicore

$SQM
SQM (CL) - Lithium

$ILU (-1,63%)
Iluka Resources (AU) - Rare earths

$ARR (-6,59%)
American Rare Earths (US/AU) - New supply chains

my number 1 in the sector is Albemarle

manufacturing technology

ASML - Applied Materials - Tokyo Electron

$LRCX (+0,88%)
Lam Research (US) - Plasma/etching processes

$ASM (+0,37%)
ASM International (NL) - ALD equipment

$MKSI (+0,58%)
MKS Instruments (US) - Plasma/vacuum technology

my number 1 in the sector is ASML

Quality assurance

Keysight - Advantest - Teradyne

$EMR (+0,46%)
National Instruments (US) - Measurement technology - from Emerson Electric adopted

$300567
ATE Test Systems (CN) - test systems

$FORM (+1,08%)
FormFactor (US) - Wafer probing

my number 1 in the sector is Keysight

Motion & Drive

Parker-Hannifin

Festo (DE) - Pneumatics, Soft Robotics - not a listed company

Bosch Rexroth (DE) - Drives, Controls - not a listed company

$6481 (+0,41%)
THK (JP) - Linear guides

my number 1 in the sector is Parker-Hannifin

Sensors/Imaging

$TDY Teledyne

$BSL (+0,33%) Basler (DE) - Industrial cameras

FLIR (US) - Thermal imaging sensors - acquisition by Teledyne

ISRA Vision (DE) - Machine Vision - not a listed company

my number 1 in the sector is Teledyne

Magnets & Materials

MP Materials

$6501 (+0,49%)
Hitachi Metals (JP) - Magnetic materials

VacuumSchmelze (DE) - Magnetic materials - not a listed company

$4063 (-0,83%)
Shin-Etsu Chemical (JP) - Specialty materials

my number 1 in the sector is MP Materials

Chip Design & Simulation

Synopsys - Cadence - ARM

$SIE (+0,11%)
Siemens EDA (DE/US)-Mentor Graphics-strategic business unit of Siemens AG

Imagination Tech (UK) - GPU-IP - not a listed company

$CEVA (+0,85%)
CEVA (IL) - Signal Processor IP

my number 1 in the sector is Synopsys

Engineering & Lifecycle

PTC - Dassault - Siemens

Altair (US) - Simulation - no longer a listed company

$HXGBY (+0,48%)
Hexagon (SE) - Metrology

$SNPS (+0,37%)
ANSYS (US) - Simulation - takeover by Synopsys

my number 1 in the sector is Siemens

Networks & Data Centers

Arista - Cisco - Equinix

$HPE (+0,33%)
Juniper (US) - Networks - Acquisition of HPE

$DTE (+0,32%)
T-Systems (DE) - Industry cloud

$OVH (+0,95%)
OVHcloud (FR) - European cloud

my number 1 in the sector is Arista

Cloud infrastructure

AWS - Azure - Google Cloud

$ORCL (+1,39%)
Oracle Cloud (US) - ERP & databases

$IBM (+0,21%)
IBM Cloud (US) - Hybrid Cloud

$9988 (+0,16%)
Alibaba Cloud (CN) - Asian Cloud

$VRT
Vertiv Holdings (US) - Cloud/Infra

my number 1 in the sector is Alphabet (Google)

finance/information infra

S&P Global

$MCO (+0,1%)
Moody's (US) - Ratings

$MSCI (+0,42%)
MSCI (US) - Indices

$MORN
Morningstar (US) - Investment Research

my number 1 in the sector is S&P Global

Creative/Experience Infra

Adobe

$ADSK (+0,53%)
Autodesk (US) - CAD & Design

$U
Unity (US) - 3D/AR simulation

Epic Games (US) - Unreal Engine - not a listed company

my number 1 in the sector is Adobe

Platform & Ecosystem

Apple - Tencent - Alibaba

$META (+0,7%)
Meta (US) - AR/VR, Social Robotics

ByteDance (CN) - AI & platforms - not a listed company

$9888 (+0,49%)
Baidu (CN) - AI & Cloud

my number 1 in the sector is Tencent

Infrastructure/Edge

Dell

$HPE (+0,33%)
HPE (US) - Edge Computing

$SMCI
Supermicro (US) - AI servers

$6702 (+0%)
Fujitsu (JP) - Edge & HPC

my number 1 in the sector is Dell

storage solutions

Micron

$HY9H
SK Hynix (KR) - Memory

$285A (+14,82%)
Kioxia (JP) - NAND

$WDC
Western Digital (US) - Storage solutions

my number 1 in the sector is Micron

🏛 3. secondary key sectors with hidden champions

Financing & Capital

$GS (+0,29%) Goldman Sachs (US) - investment bank; ECM/DCM, M&A, growth financing

$MS Morgan Stanley (US) - investment bank; tech banking, capital markets

$BLK (-0,24%) BlackRock (US) - asset manager; capital allocation, ETFs/index funds

$9984 (+3,25%) SoftBank Vision Fund (JP) - mega VC; growth equity in robotics/AI

Sequoia Capital (US) - venture capital; early/growth in AI/robotics - this is a classic venture capital fund

DARPA (US) - government R&D funding (robotics/defense) - independent research and development agency

EU Horizon (EU) - research funding/grants for DeepTech - Innovative Europe pillar

China State Funds (CN) - state industry/technology fund

Lux Capital (US) - VC for DeepTech - Uptake (US) - AI-based predictive maintenance

DCVC (US) - Robotics & AI focus - investing exclusively via VC fund investments

Speedinvest (AT) - EU VC for robotics - access to investment only via fund investments

my number 1 in the sector is Softbank

Maintenance & Service

$SIE (+0,11%) Siemens (DE) - Industrial Service, Lifecycle & Retrofit

$ABBN (+0,22%) ABB (CH/SE) - Robotics Service, Spare Parts, Field Support

$GEHC (+1,56%) GE Healthcare (US) - Medtech service incl. robotic systems

Uptake (US) - AI-based predictive maintenance - not a listed company

Augury (US/IL) - condition monitoring, condition diagnostics - not a listed company

$KU2 KUKA Service (DE) - Robotics maintenance

$6954 (+0,4%) Fanuc Service (JP) - global service network

Boston Dynamics AI Institute (US) - Robotics longevity - funded by Hyundai Motor Group

my number 1 in the sector is Siemens

Marketing & Advertising

$WPP (+0,73%) WPP (UK) - global advertising group; branding/communications

$OMC Omnicom (US) - marketing/PR network

$PUB (+0,32%) Publicis (FR) - communications/advertising group

$META (+0,7%) Meta (US) - Digital Ads (Facebook/Instagram)

$GOOG (+0,44%) Google Ads (US) - search & display advertising

TikTok / ByteDance (CN) - social ads & distribution - not a listed company

$AAPL (+0,22%) Apple (US) - Branding/UX; Acceptance & Platform Marketing

$WPP (+0,73%)
AKQA (UK/US) - Tech branding - Since 2012 majority owned by the WPP Groupbut continues to operate as an autonomous operating unit

R/GA (US) - Innovation marketing - not a listed company

Serviceplan (DE) - largest independent EU agency - not a listed company

my number 1 in the sector is Meta

Law, Regulation & Ethics

ISO (CH) - international standards, robotics standards

TÜV (DE) - certification & safety tests

UL (US) - safety/conformity testing

EU AI Act (EU) - legal framework for AI & robotics

UNESCO AI Ethics (UN) - global ethics guidelines

Fraunhofer IPA (DE) - Robotics safety standards

ANSI (US) - standards

IEC (CH) - Electrical engineering standards

Training & Talent

MIT (US) - Robotics/AI Research & Education

ETH Zurich (CH) - autonomous systems & robotics

Stanford (US) - AI/Robotics labs & spin-offs

Tsinghua University (CN) - Robotics/AI in Asia

CMU (US) - Robotics Institute

EPFL (CH) - Robotics research

TU Munich (DE) - humanoid robot "Roboy"

🌍 Top 25 companies for humanoid robotics

These companies are central to the development & production of humanoid robotsbecause without them, crucial parts of the chain would be missing:

Chips & computing power (brain of the robots)

$NVDA (+0,18%) Nvidia (US) - AI GPUs & Isaac platform, foundation for robotic AI

$2330 TSMC (TW) - world's most important foundry, produces the AI chips

$ASML (+0,85%) ASML (NL) - EUV lithography, indispensable for chip production

$005930 Samsung Electronics (KR) - memory, logic, foundry

$HY9H SK Hynix (KR) - DRAM & NAND memory for AI

$MU (+1,17%) Micron (US) - Memory solutions for AI workloads

my number 1 in the sector is ASML

Sensors & perception (senses of robots)

$SONY Sony (JP) - image sensors, market leader

$6861 (+0,79%) Keyence (JP) - Industrial sensors & vision systems

$CGNX (+0,53%) Cognex (US) - Machine Vision, precise image processing

my number 1 in the sector is Keyence

Actuators & motion (muscles of robots)

$IFX (+0,6%) Infineon (DE) - power electronics, motor control

$6594 (+2,46%) Nidec (JP) - World market leader for electric motors

$PH Parker-Hannifin (US) - hydraulics/pneumatics, motion technology

$6481 (+0,41%) THK (JP) - Linear guides & actuators

my number 1 in the sector is Parker-Hannifin

Communication, cloud & infrastructure (nerves & data flow)

$QCOM (+0,64%) Qualcomm (US) - Mobile & Edge Chips

$AMZN (+0,6%) Amazon AWS (US) - Cloud & AI infrastructure

$MSFT (+0,28%) Microsoft Azure (US) - Cloud, AI services

$CSCO (+0,2%) Cisco (US) - Networks & Security

$VRT Vertiv Holdings (US) - Data Center Infrastructure

my number 1 in the sector is Microsoft

End Applications & Platforms (robots themselves)

$TSLA (+0,1%) Tesla (US) - humanoid robot Optimus

$ABBN (+0,22%) ABB (CH/SE) - Robotics & Automation

$6954 (+0,4%) Fanuc (JP) - industrial robots & CNC systems

$7012 (+2,22%) Kawasaki Heavy Industries (JP) - industrial robots

PAL Robotics (ES) - humanoid robots (TALOS, ARI, TIAGo) - not a listed company

Neura Robotics (DE) - cognitive humanoid robots - not a listed company

Universal Robots (DK) - cobots

my number 1 in the sector is Tesla

🇪🇺 Top 10 European key companies for humanoid robotics

$ASML (+0,85%)
ASML (NL)

World market leader in EUV lithography - no modern chips for AI & robotics without ASML.

$IFX (+0,6%) Infineon (DE)

Leading in power electronics & motor control - crucial for actuators of humanoid robots.

$STM (+0%)
STMicroelectronics (FR/IT)

Sensors, microcontrollers & power chips - the basis for control & perception.

$SAP (+0,5%)
SAP (DE)

ERP & data platforms, important for integrating humanoid robots into industrial processes.

$SIE (+0,11%)
Siemens (DE)

Industrial software, automation, digital twin - key for engineering & lifecycle management.

$KU2 KUKA (EN)

Robotics pioneer, industrial robots & automation - know-how for humanoid motion mechanics.

PAL Robotics (ES) - not a listed company

Specialist for humanoid robots (TALOS, ARI, TIAGo), internationally used in research & service.

Neura Robotics (DE) - Not a listed company

Young high-tech company, develops cognitive humanoid robots with advanced AI (4NE-1).

Universal Robots (DK) - Not a listed company

Market leader for cobots - platform for safe human-robot collaboration.

Engineered Arts (UK) - not a listed company

Develops humanoid robots such as Amecaknown for realistic facial expressions & gestures - important for HRI (Human-Robot Interaction)

🌏 Top 10 Asian key companies for humanoid robotics

$2330
TSMC (Taiwan)

World's largest semiconductor foundry, produces high-end chips (e.g. Nvidia, AMD, Apple) - no AI hardware without TSMC.

$005930
Samsung Electronics (South Korea)

Foundry, memory, logic chips, image sensors - extremely broadly positioned in robotics components.

$HY9H
SK Hynix (KR) - Memory

$SONY
Sony (Japan)

Market leader in CMOS image sensors, essential for robotic vision & perception.

$6861 (+0,79%)
Keyence (Japan)

Sensor technology & machine vision for industrial automation, widely used in robotics.

$6954 (+0,4%)
Fanuc (Japan)

Industrial robots & CNC systems, one of the most important manufacturers of robotics hardware worldwide.

$6506 (+1,47%)
Yaskawa Electric (Japan)

Drives, motion control & robot arms - relevant for humanoid motion control.

$6594 (+2,46%)
Nidec (Japan)

World market leader for electric motors (from mini motors to high-performance drives).

$7012 (+2,22%)
Kawasaki Heavy Industries (JP) - Industrial robots

$9618 (-0,34%)
JD.com (China)

Driver for robotics in e-commerce & logistics, invests in humanoid robotics applications

These shares reached a new 52-week high today:

Meta $META (+0,7%)

Broadcom $AVGO (+0,63%)

AMD $AMD (+0,43%)

Blackrock $BLK (-0,24%)

Astera Labs $ALAB (+6,87%)

Arista Networks $ANET (-0,07%)

Reddit $RDDT (-0,02%)

Lam Research $LRCX (+0,88%)

KLA Corp $KLAC (+0,29%)

S&P Global $SPGI (+0,3%)

Celsius $CELH

United Rentals $URI (-0,72%)

Do you hold one of the shares? If yes, congratulations!

$LRCX (+0,88%)

Key technology

Lam Research is the world's leading manufacturer of etching systems, which play a key role in semiconductor production.

Lam Research's largest customers include well-known companies such as Micron, Samsung, SK hynix and Taiwan Semiconductor Manufacturing Company (TSMC).

This strong customer base underlines the importance of Lam Research as an indispensable supplier to the semiconductor industry - a sector that is becoming increasingly relevant.

The growth prospects for Lam Research are promising. The semiconductor industry is facing a massive expansion of production capacities.

This should inevitably lead to increased demand for Lam Research's equipment. In addition, there is a continuous need to modernize and replace obsolete equipment.

As a result, Lam Research's sales and profits are likely to increase significantly in the long term, although the fluctuations typical of the industry will continue.

In my view, the future of Lam Research is likely to look more or less like the past.

The past and the future

Over the past ten years, Lam has increased sales from USD 5.89 billion to USD 18.4 billion. The operating margin has improved from 20% to 32%.

At the same time, the number of shares outstanding was reduced from 1.75 to 1.29 billion. Earnings rose from USD 0.64 to USD 4.15 per share.

The last quarter, the figures for which were presented on July 30, shows that the success story is far from over.

At USD 1.33 per share, Q4 earnings were well above expectations of USD 1.22. With turnover of USD 5.17 billion, the company also exceeded analysts' estimates of USD 4.96 billion.

For the year as a whole, this corresponds to a 34% increase in sales and a 64% jump in profits.

Forecasts no longer valid

Lam Research is forecasting sales of USD 5.2 billion, a gross margin of 49.9%, an operating margin of 33.9% and earnings of USD 1.20 per share for the first quarter of the financial year, which began in July.

The number of shares outstanding is expected to fall to 1.27 billion.

The forecast is well above the previous consensus estimates, which had expected sales of USD 4.64 billion and earnings of USD 1.00 per share.

The strong final quarter and the outlook for the first quarter suggest that the consensus estimates for the full financial year of USD 4.47 per share are too low.

Assuming that Lam Research will earn as much in each of the next four quarters as the company is forecasting for Q1, earnings would rise to USD 4.80 per share.

In this scenario, Lam Research would arrive at a forward P/E of 19.8, which is reasonable in relation to the current and expected long-term growth rates

Lam Research share: Chart from 01.08.2025, price: USD 94 - symbol: LRCX | Source: TWS

Nevertheless, the share price fell after the quarterly figures, even though expectations were exceeded and the forecast was surprisingly strong. This once again underlines how unpredictable the stock market is in the short term and how important it is to take a long-term view

https://www.lynxbroker.de/boerse/boerse-kurse/aktien/lam-research-aktie/lam-research-analyse/?a=3355991664&utm_medium=email&utm_source=newsletter&utm_campaign=newsletter-boersenblick&newsletter=true&mc-rss-cache-bypass=2025080406&goal=0_d93daae099-95e5dafa84-410756260#lam-research-die-schildkroete-und-der-hase

$LRCX (+0,88%)

🟡 Lam Research ($LRCX)

Strong figures in the semiconductor sector:

• EPS (adjusted): USD 1.33 → +0.12 USD above consensus
• Sales: USD 5.17 billion → USD +170 million above expectations
• YoY growth:
  +34 %
• Reaction: Share +4 % after market close

Conclusion: Lam is clearly benefiting from the AI and data center boom.

My YouTube channel for more stock analysis: www.youtube.com/@Verstehdieaktie

I've been thinking for some time that it's about time I wrote an article about the company Tokyo Electron
$8035 (+0,75%) and now the time has come!

Tokyo Electron is a Japanese company that operates in the field of semiconductor equipment equipment. The company is an essential part of the global semiconductor supply chain, Without it, there would be no semiconductorsespecially advanced ones, because that is where they dominate the market.

Here on Getquin, a lot is written every day about the Dutch ASML $ASML (+0,85%) who have a monopoly in the field of EUV lithography. However, the EUV machine is unfortunately useless on its own, because each of ASML's highly complex EUV machines inevitably requires technology from Tokyo Electron. This concerns the coaters and developers.

With the coating an extremely thin layer of photoresist is applied to a wafer with nanometer precision, Only then are they usable for the EUV process. This is followed by developingin which specific exposed or unexposed areas on the wafer are removed in order to create a certain pattern. The whole process is incredibly complex and difficult to implement. The coater/developer and EUV machines form a kind of unit. Tokyo Electron has a market share of approx. 90% and even a monopoly in EUV lithography. monopoly. The barriers to entry are also considered to be very high. All in all, it can be said that there are no high-end chips without ASML's EUV lithography, but no EUV lithography without Tokyo Electron's coater/developer. Tokyo Electron benefits directly and inevitably from ASML's success.

But that's not all, Tokyo Electron is much broader. They also hold market shares between 20-30% in dry etch, thin film deposition (CVD/ALD) and wafer cleaning (stable - rising everywhere). Competitors in this area are in particular Applied Materials $AMAT (+0,99%) and LAM Research $LRCX (+0,88%) .

Also becoming increasingly relevant is advanced packaging. Here, several chips are connected together, so to speak (e.g. CPUs, GPUs...). It therefore represents a key market for AI and other trends. Tokyo Electron currently holds market shares of around 10-15% (tendency strongly increasing). They are particularly strong in the essential wafer bondingi.e. the bonding of several finished wafers, where the market share is already at 32% (tendency rising sharply). They are also expanding into other areas.

Overall, they benefit from their diversification and strong customer loyalty. They work very closely with foundry companies such as TSMC $2330 and Samsung $005930 whereby many processes are so closely coordinated that many innovations only emerge in production itself. Tokyo Electron also has an advantage over the competition, as their strong diversification (and market dominance in certain areas) means that they can offer complete solutions for their customers. In advanced packaging in particular, there are many smaller players that are only active in one niche (e.g. Süss MicroTec $SMHN (+0,11%) ), which makes them less competitive with Tokyo Electron.

It should now be roughly clear what kind of company Tokyo Electron is and why its products are so important. so important are so important. Now let's look at some numbers:

Turnover (2025): €14.9 billion (+32.83%)

Profit (2025): €3.3 billion (+49.50%)

Market capitalization: € 75.2 billion

P/E RATIO: 23.69

P/E ratio 2030e: 13.40

Debt: 0¥

Cash position: approx. € 3 billion

Over the next few years (up to 2030), Tokyo Electron is planning investments of 1.5 trillion ¥ (approx. €10 billion)especially in the area of Advanced Packaging. They are therefore investing heavily in their technological leadership and expanding into new growth markets. Their successful execution is reflected in the fact that they steadily becoming more profitable
and gaining market share all round. In the year 2027 they want a profit margin of 35% which would put the competition in the shade.

I also think it's important to emphasize that Tokyo Electron has been incredibly successful in talent acquisition acquisition. They are a very popular employer and last year alone they received 25,000 applications received from a total of around 17.000 employees worldwide. As part of their investment strategy, they plan to hire 2,000 new employees each year (10,000 in total) (this represents an increase of almost 60% growth). The employees who already work at Tokyo Electron are also very happy there. In Japan, only 1% of employees who start at Tokyo Electron leave the company at some point. Internationally it is also only 2-3%. This not only shows the quality of the employer, but also ensures that the know-how is retained within the company.

Conclusion: Tokyo Electron is a highly profitable, technological leader and innovative supplier whose products are irreplaceable, especially for the most advanced chip production. With a modern corporate culture and an aggressive growth strategy in an exponentially growing market environment the company offers an attractive investment opportunity with a robust moat and long-term high upside potential.

The savings plan is running :)