Liwei’s hearing a few things about fab expansion that haven’t been officially announced yet. 👀 If those plans materialize, I think semiconductor equipment stocks have another leg higher. The four core names: • $AMAT — Deposition, etch and other wafer-processing equipment. • $LRCX — Etch, deposition and cleaning. • $KLAC — Inspection, metrology and yield control. • $ASML — EUV and DUV lithography. The broader equipment watchlist: Inspection & metrology: $NVMI $ONTO $CAMT Equipment components & subsystems: $MKSI $AEIS $ICHR $UCTT Packaging & bonding: $KLIC Semiconductor testing & probe cards: $TER $FORM $COHU Burn-in & reliability testing: $AEHR Different parts of the same supply chain, with different order cycles. For the new-fab spending thesis, my starting point is the big four.