skcots_13
Oct 28, 4:14 PM
$LRCX Open discussion at our martini luncheon right now. Never drink and drive. Look at Nvidia all you want, but they don't actually build anything—they design. The physical reality of chips belongs to
$ASML,
$AMAT,
$LRCX, and
$KLAC. When we talk about converting tech moats into long-term cash flow, we're talking about the fact that these guys hold absolute engineering monopolies. TSMC and Intel can't just pivot to someone else. They have to cut multi-billion dollar checks years in advance just to secure line space for tools, giving the WFE patch some of the most predictable, locked-in balance sheets in the entire tech stack.
On a side note. LRCX’s disclosed suppliers tend to be subsystem/component providers. Like these two, Ultra Clean Holdings trades under the ticker UCTT and Ichor Holdings trades under the ticker ICHR. Going to throw them some coin also. Both are pure-play semiconductor equipment subsystem suppliers and tend to move with the broader WFE cycle.
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