$ONTO back at the demand base 👀

Onto makes inspection and metrology tools that check chips and advanced AI packaging on the line.

Broke out of this zone in April, ran to $386 on Jun 30, and dropped right back in. Down about 40% from the top. This zone capped price from mid 2024 until the breakout.

✅ Q2 revenue $343M (+35%), a record
✅ Backlog above $1B for the first time
✅ Q3 guide $380M to $400M
✅ 2026 advanced packaging growth outlook raised to ~80%

⚠️ No company news behind the drop. Chips sold off on China's CXMT memory advance, AI valuation fears and a hot CPI.

The weekly close decides it. Let's see how it goes

#stocks