ACM Research stock rallied 30% Tuesday, putting it on track for its biggest one-day percentage increase since March 6 of 2018, after the company backed revenue guidance for 2022 and set guidance for 2023 that exceeded the current consensus estimate. The Fremont, Calif.-based supplier of wafer processing for semiconductor and advanced wafer-level packaging software, said it expects 2023 revenue to range from $515 million to $585 million, ahead of the FactSet consensus of $429.8 million. It still expect 2022 revenue of $365 million to $385 million, wrapped around the consensus of $376.9 million. The 2023 guidance “is based on ACM management’s current assessment of the potential impact from current US-China trade policy, and assumes the COVID-19 reopening in the PRC, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors,” the company said in a statement. ACM expects to report fourth-quarter and full-year earnings in late February.
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