Analyst is positive on Axcelis and Veeco merger and stocks, citing positive product announcements (follow-on orders, eval shipments).
Merger positive on fundamentals; follow-on orders and eval system shipments from logic partners validate demand. Both outperforming despite macro headwinds.
Last week, we outlined our thoughts on the Axcelis<>Veeco merger and why we’re positive on those names (snippet below). Earlier today, Veeco announced follow-on orders for its Nanosecond Annealing platform from a leading logic customer and confirmed shipment of an eval system to a third logic partner. Both names are outperforming today despite the macro headwinds. (1/2)🧵
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -1.9% | -0.3% |
| 1 week | +11.9% | +10.1% |
| 1 month | -14.5% | -16.5% |
| 3 months | — | — |
| 6 months | — | — |