Global Research ab 8 September 2025 UBS Global I/O Semiconductors and Semi Equipment WFE Update: 1H:26 Run Rate To Step Up, Full Year 2026 Led By DRAM Even considering the improved setup for the broader group into 2026, we think investors should focus on share gainers. In this context, LRCX remains our top pick, with WFE share projected to rise to ~12% in 2026 - still shy of LRCX's implied 13% in its updated financial model. AMAT should benefit from DRAM strength but faces ICAPS China headwinds, leaving sha ...