• In January 2026, ACM Research updated its full-year 2025 revenue outlook to a range of US$885 million to US$900 million and issued new 2026 guidance of US$1.08 billion to US$1.18 billion, providing refreshed expectations for its wet processing and wafer cleaning equipment business.
• The combination of a narrowed 2025 outlook and the first public view of 2026 revenue plans offers investors clearer visibility into ACM Research’s anticipated scale and demand pipeline.
• With revenue guidance now framed for both 2025 and 2026, we’ll consider how this clearer outlook shapes ACM Research’s investment narrative.

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What Is ACM Research's Investment Narrative?

To own ACM Research, you really have to believe in the long-term need for its wet processing and wafer cleaning tools as chip complexity rises, while accepting that orders can be bumpy and China exposure is a key swing factor. The January 2026 update, with a slightly tightened 2025 revenue range and first look at 2026, gives more concrete scale targets but does not radically change the near-term story: execution on the current tool portfolio, customer adoption of new platforms like Ultra Lith and Ultra ECP, and overall semiconductor capital spending remain the main catalysts. After a very large 1-year total return and strong recent share price moves, the bigger question is whether the new guidance sufficiently compensates for ongoing risks around customer concentration, technology competitiveness and geopolitical constraints.

However, the company’s reliance on a concentrated customer base is something investors should not ignore. ACM Research's shares are on the way up, but they could be overextended by 23%. Uncover the fair value now.

Exploring Other Perspectives

Four fair value estimates from the Simply Wall St Community span roughly US$36 to just under US$49 per share, underlining how differently private investors see ACM Research’s prospects. Set against recent guidance and a sharply higher share price, this spread reflects contrasting views on how much risk around customer exposure and spending cycles is already priced in, and invites you to weigh several alternative viewpoints before deciding how ACM Research fits your own expectations.

Explore 4 other fair value estimates on ACM Research - why the stock might be worth 38% less than the current price!

Build Your Own ACM Research Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your ACM Research research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free ACM Research research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ACM Research's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.