Haverhill Financial Research · Watchlist · Updated October 12, 2026
Why these ten
AI spending flows from equipment makers to the foundry, chip designers, memory, networking, power and cooling, and finally the clouds. ASML and TSMC report this week, so their orders and outlooks are the first read on what the rest of the chain will say over the next two months.
Chipmakers order equipment from ASML, Applied Materials, Lam Research and KLA before they add capacity. TSMC turns that capacity into chips like the custom accelerators Broadcom designs, paired with Micron's memory. Those chips end up in data centers wired with Arista's networking and Vertiv's power and cooling, and rented out by clouds like Nebius.
The watchlist
Our read going in
Broadcom is our favorite link in the chain. It is the main supplier of custom AI chips to the largest tech companies, and our full report sets a $430 price target.
Nebius is a strong business at a full price. New deals have been priced above $20 million of yearly revenue per megawatt, but heavy building is funded partly by new shares. Our full report explains the $205 target.
Applied Materials (#58) and Arista (#38) are Holds. Both are excellent businesses whose share prices already reflect much of the AI build-out.
ASML and TSMC set the tone this week. Strong orders and a confident 2027 outlook would support the whole chain. Weak orders would be the first sign that chipmakers are slowing their plans.
Sources and disclosures
Haverhill views come from our Broadcom and Nebius reports and the Haverhill Hundred. Report dates come from these company announcements and investor pages:
Disclosures. Haverhill Financial Research is a publisher of general financial commentary. This watchlist is not personalized investment advice and does not consider any reader's financial situation; readers should do their own research. Inclusion on a watchlist is not a recommendation to buy or sell. Report dates come from company announcements and can change; dates marked as not yet announced are Haverhill estimates. The author of this post does not hold positions in the companies named. Data as of October 12, 2026.
