Broker: PCB Equipment & Drill Needle Correction Overdone; Fundamentals to Accelerate in October

Bullish

What Happened

The broker notes that PCB equipment and drill needle stocks have corrected since mid-September, but the negative narratives were already priced in before the holiday. The post-holiday decline is attributed more to chip structure and liquidity concerns from rate hike expectations.

Bottom Line

The recent pullback in PCB equipment and drill needle stocks is a buying opportunity as fundamentals are set to accelerate in October.

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