Goldman Sachs named Lasertec, Tokyo Electron and Disco as its top picks among Japanese semiconductor capital equipment makers after Intel lifted its 2026 capital expenditure plans. The brokerage expects Intel's larger wafer fabrication equipment budget to benefit select Japanese suppliers with strong exposure to its advanced manufacturing initiatives.
Goldman Sachs has identified three Japanese semiconductor capital equipment makers as top picks following Intel's announcement of increased capital expenditure plans for 2026. Intel raised its 2026 capital expenditure outlook by approximately $3 billion and indicated a significant increase in spending on wafer fabrication equipment.
The brokerage expects the chipmaker's elevated investment levels to benefit select Japanese equipment suppliers with strong exposure to Intel's advanced manufacturing initiatives.
Lasertec named top pick in the sector
Goldman Sachs named Lasertec as its top pick in the sector. The brokerage said Lasertec has high sales exposure to Intel and stands to benefit from the chipmaker's accelerated ramp-up of advanced process technologies, including 18A and 14A.
The bank maintained a Buy rating and a ¥70,000 price target, with the stock remaining on its APAC Conviction List.
Tokyo Electron keeps its Buy rating
Goldman also reiterated its Buy rating on Tokyo Electron, citing the company's significant exposure to Intel's equipment spending. The brokerage expects Intel's higher wafer fab equipment budget and advanced-node investments to support stronger demand for Tokyo Electron's semiconductor manufacturing tools.
Alongside that call, the bank maintained a ¥83,000 target price on the stock. Tokyo Electron closed at ¥62,800, up 0.22%.
Disco tied to advanced packaging
Disco completes the list, which Goldman Sachs highlighted as a beneficiary of Intel's increased investment in advanced packaging. The brokerage said Intel's plans to expand EMIB-T production capacity should support demand for Disco's back-end semiconductor processing equipment.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
