Is ACMR a good stock to buy? We came across a bullish thesis on ACM Research, Inc. on Thinking Tech Stocks’s Substack. In this article, we will summarize the bulls’ thesis on ACMR. ACM Research, Inc.’s share was trading at $49.69 as of April 21st. ACMR’s trailing and forward P/E were 36.94 and 30.40, respectively according to Yahoo Finance.
ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells capital equipment in Mainland China and internationally. ACMR is emerging as a central player in the global semiconductor transformation driven by the AI boom and an impending memory supply crunch. The company is strategically positioned to benefit from China’s push for semiconductor self-sufficiency while simultaneously validating its technology with global leaders like SK Hynix and Intel.
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ACMR’s cleaning and electro-chemical plating (ECP) tools are critical for producing High-Bandwidth Memory (HBM) chips, enabling vertical stacking via Through-Silicon Vias (TSVs). The company has established a dedicated HBM lab in South Korea to support HBM4-compatible systems and plans commercial deployment in 2026, complementing a recent $200 million HBM equipment order from a leading memory manufacturer.
Its infrastructure expansion in Oregon further positions ACMR to serve global AI memory customers. In China, ACMR holds over 25% market share in wafer cleaning, supplying key players like YMTC and CXMT, which are scaling advanced memory production amid trade restrictions.
The company’s Shanghai Lingang facility, capable of supporting $3 billion in annual production, underpins a long-term China revenue target of $2.5 billion while funding high R&D intensity of 14–16% of sales. ACMR’s technology has also earned validation from Intel for its 14A process, highlighting global competitiveness beyond China.
Proprietary innovations like SAPS and TEBO enhance cleaning for fragile 3D structures, while advanced electroplating and high-temperature SPM tools support next-generation packaging and logic nodes. By bridging domestic dominance with global process validation, ACMR is poised to capitalize on the HBM super-cycle, AI-driven memory demand, and advanced packaging growth, making it a critical enabler of the next-generation semiconductor ecosystem and a compelling opportunity for investors seeking exposure to structural AI and memory trends.
Previously, we covered a bullish thesis on ACM Research, Inc. (ACMR) by thexcapitalist in April 2025, which highlighted the company’s China-focused wafer cleaning business, strong 40% revenue growth, and low valuation despite geopolitical risks. ACMR’s stock price has appreciated by approximately 170.05% since our coverage. Thinking Tech Stocks shares a similar view but emphasizes ACMR’s expansion into HBM production, global partnerships with SK Hynix and Intel, and proprietary technologies driving the AI semiconductor boom.
ACM Research, Inc. is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held ACMR at the end of the fourth quarter which was 28 in the previous quarter. While we acknowledge the risk and potential of ACMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ACMR and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
