(Bloomberg) -- Tokyo Electron Ltd. is planning record research and development outlays this fiscal year and gave an upbeat revenue forecast on a surging demand for AI-enabling infrastructure.Most Read from BloombergElon Musk Pledges to Grow Supercharger Business He Just DecimatedBiden Set to Hit China EVs, Strategic Sectors With TariffsAckman Scolded Over DEI Views at Closed-Door Milken SessionJim Simons, Code Breaker Who Mastered Investing, Dies at 86Apple Apologizes for iPad Pro Ad, Scraps Pla
Does Tokyo Electron Ltd. (TOELY) have what it takes to be a top stock pick for momentum investors? Let's find out.
Japan's Nikkei share average closed little changed on Tuesday, as gains in chip-related stocks offset declines by heavyweights such as Uniqlo-owner Fast Retailing and Nissan Motor. The Nikkei's three biggest supports were in the semiconductor sphere, led by chipmaking-equipment giant Tokyo Electron, as they tracked a record rally in U.S. peer Nvidia. However, Nissan slumped nearly 4% after an update to its medium-term business plan that underwhelmed investors.