1. ACM Research Inc. (NASDAQ:ACMR)
YTD Returns: 60%
Number of Hedge Funds: 23
ACM Research Inc. (NASDAQ:ACMR) is a provider of advanced semiconductor equipment, specializing in wet processing technology and products for the semiconductor manufacturing industry. The company’s product portfolio includes equipment for critical processes such as cleaning, etching, and surface treatment, which are essential for producing high-performance chips.
ACM Research Inc. (NASDAQ:ACMR) has seen its stock surge 60% year-to-date, with an additional 9% increase as of February 19. The stock’s upward momentum is largely attributed to the company’s robust financial performance and heightened demand for its cleaning solutions, which are essential in logic and memory chip manufacturing. The company recently introduced its 2025 revenue guidance where it anticipated revenue in the range of $850 million to $950 million, reflecting an estimated 25% year-over-year growth. The company continues to innovate its tools while aiming to expand into markets beyond mainland China, anticipating greater global growth. ACM Research Inc. (NASDAQ:ACMR) is expected to report its Q4 2024 results on February 26.
While we acknowledge the potential of ACMR to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACMR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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