Earnings delivered but no hype yet! ACMR and CLS: low-valuation accumulation opportunities in the semiconductor sector

Let's discuss two semiconductor stocks trading at relatively low levels with broad upside potential for your reference.

1. $ACM Research (ACMR.US)$ ACMR. ACMR operates in the semiconductor equipment sector, with business activities covering advanced packaging and semiconductor cleaning equipment. Its net profit in the second quarter grew by nearly 200% year-over-year. From a pure earnings realization perspective, it is a target with solid fundamental confirmation within the semiconductor equipment space. Furthermore, ACMR's stock price has not been excessively hyped in the past two weeks; it has continued to oscillate around the $80 mark. After such a prolonged period of sideways movement, there has been no destructive decline, which indirectly suggests that buying support may be gradually forming at lower levels. If you are currently reluctant to chase high-flying rare earth stocks and do not wish to participate in high-beta tech stocks like memory or optical modules, ACMR serves as a key focus in the relatively lower-valued semiconductor segment. You can still adopt a two-tranche entry strategy: look for an opportunity to make the first entry now, and if a deeper correction occurs later due to NVIDIA's earnings report or other factors, consider adding a second position. As for the short-term upside target, I believe we can be more ambitious, initially looking at the $100–$105 range.

2. $Celestica (CLS.US)$ CLS (Celestica). The logic for this stock differs from ACMR. CLS has been experiencing significant wide-range volatility over the past two months, with its stock price repeatedly consolidating within the $280–$380 range. Notably, there were clear signs of test volume spikes in late July and early August, but these heavy trading volumes did not directly drive continuous sharp price increases. In the subsequent trading days, the stock re-entered a phase of declining volume and falling prices. I find this structure quite interesting; from a trading perspective, it does not rule out the possibility that capital is accumulating positions during the sideways movement. If you currently want to avoid AI hardware stocks at mid-to-high levels while seeking a tech target with higher earnings certainty and a lower price level, I believe CLS remains a key focus, with $300 being a decent entry zone. The initial upside target can be set at $350. If it subsequently breaks through $350 with significant volume, we can reassess whether there is room for further gains.

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