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To own KLA, you need to believe that demand for AI infrastructure and advanced packaging will keep reinforcing the need for its process control and metrology tools. The reaffirmed US$1.90 dividend itself does not materially change the key near term catalyst, which remains AI driven capex in leading edge fabs, nor the biggest risk, which is exposure to trade restrictions and tariff related margin pressure.
The most relevant recent development here is KLA’s latest quarterly results, with Q2 FY2026 revenue of US$3,297.15 million and strong earnings supporting that dividend. Those numbers sit against guidance for Q3 2026 revenue of US$3.35 billion ± US$150 million, keeping attention firmly on whether AI and advanced packaging orders stay resilient enough to offset China weakness and tariff headwinds.
Yet even with strong AI demand, investors should be aware that rising tariffs and export controls could...
Read the full narrative on KLA (it's free!)
KLA's narrative projects $14.8 billion revenue and $5.3 billion earnings by 2028.
Uncover how KLA's forecasts yield a $1297 fair value, a 12% downside to its current price.
Some of the most optimistic analysts were already modeling revenue of about US$14.4 billion and earnings of US$5.0 billion by 2028, so this dividend backed AI momentum may either reinforce that upbeat view or prompt you to question it, especially if you worry that concentrated exposure to a few leading edge customers makes those forecasts more fragile than they appear.
Explore 4 other fair value estimates on KLA - why the stock might be worth 45% less than the current price!
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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