Daily Brief United States: KLA-Tencor Corp, Micron Technology, Sandisk Corp, Evolution Metals & Technologies, Seagate, CDT Equity, Holtec Nuclear, Advanced Micro Devices, Orion180 Insurance Group, Apple and more

• KLA’s annual revenue grew 12% in 2024, 17% in 2025, and is on track for low-20% growth in 2026. Operating profits have expanded by ~400 basis points over this timeframe.
• I think growth rates into 2027 are probably in a similar range, maybe higher.  Our backlog is very strong. We just disclosed our backlog of $12.6 billion in our 10-K
• KLA’s share of advanced packaging inspection/metrology market rose from ~2% in 2023 to roughly 7%–8% in 2026. This business is growing 70% YoY (~$1.1 billion), roughly 2x market growth rate.

• All is well with the business. We think it will likely beat consensus and its own guidance for 4QFY26, on strong demand and production efficiency gains. 
• Q4 guidance: US$50bn revenue, 86% gross margin, ~US$31 EPS — the highest quarterly revenue in Micron’s history; US$100bn SCA contracted floor forecloses the historical earnings left-tail scenario.
• BULLISH maintained with unchanged TP of US$1,400 (11× FY2027E EPS US$125). Upcoming 4QFY26 results will be out on September, making it the bellwether for the sector.

• Most impressive US play on semiconductor memory segment. Management have substantially de-risked business from cyclical vagaries, BS turning strong, and so is focus to reward shareholders.  
• Only NAND producer in history that committed to 80% gross margin through FY2030; five NBM agreements carry US$42bn contractual revenue floor, backed by US$11bn guarantees.
• BULLISH maintained; TP US$2,050 (11× FY2027E EPS US$186); currently trading at 9.5× spot, sector multiple compression creates entry into the highest-margin NAND franchise in history.

• Evolution Metals & Technologies Corp. is a Delaware-incorporated company building an integrated supply chain for critical materials, rare earth elements, and advanced magnet technologies. Its mission is to establish a.
• Evolution Metals & Technologies became a publicly traded company on January 5, 2026, and issued convertible debentures up to $100,000,000 on May 7, 2026.
• For the six months ended June 30, 2026, total revenue was $1,000, with a net loss of $(1,000) and net cash used in operating activities of $(1,000).

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• Demand-Supply Mismatch: Demand for high-capacity hard disk drives (HDDs) is outstripping supply. Rather than narrowing, the gap between supply and demand is widening.  
• Seagate is focusing on increasing exabytes through technology transitions rather than manufacturing higher unit volumes. They are targeting at least a 25% exabyte CAGR over the next 2–3 years.
• Seagate plans to begin qualifying its 3rd-generation HAMR 50TB drive in roughly four quarters (mid-2027), representing a subsequent 25% capacity jump.  

• CDT Equity Inc. is a data-driven biotech development company focused on identifying, enhancing, and advancing high-potential therapeutic assets through scientific innovation and strategic partnerships.
• The company successfully extended the patent life of certain drugs by up to 20 years.
• The company reported a net loss of $(8,704) for the six months ended June 30, 2026.

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• Holtec is a U.S.-headquartered multinational technology company specializing in nuclear power generation and expanding into clean energy solutions and long-duration energy storage. It leads in nuclear energy, providing SSCs and.
• Holtec operates three advanced U.S. manufacturing plants with over one million square feet capacity and holds 203 granted patents worldwide.
• Total assets were $6,479,453 as of June 30, 2026, and $6,075,636 as of December 31, 2025.

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• Advanced Micro Devices, Inc. offers a growth-oriented semiconductor profile, supported by its increasing exposure to data center computing, artificial intelligence infrastructure and high-performance processing.
• The company has expanded well beyond traditional client and gaming markets, with a broader portfolio covering server CPUs, AI accelerators, adaptive computing and embedded solutions.
• This wider platform strengthens AMD’s ability to capture demand from cloud providers, enterprise customers and technology-driven end markets.

• Insurance is testing the IPO waters: Orion180’s offering provides an important read-through on investor appetite for specialty insurance following a summer IPO lull.
• Demand will be closely watched: Led by RBC Capital Markets, the $300–$340 million offering could help determine whether improving IPO momentum extends into insurance.
• Strong growth and profitability: Gross premiums written surged 79.4% to $354.4 million, while adjusted EBITDA more than quintupled year over year to $25.4 million.

• Apple has quietly added another potentially important technology to its expanding health, artificial intelligence, and next-generation computing portfolio through its acquisition of Sonera Magnetics.
• The transaction reportedly occurred in early May 2026 but became public only in September after disclosure under the European Union’s Digital Markets Act.
• The purchase price was not disclosed.