![](https://cdn.benzinga.com/files/imagecache/2048x1536xUP/images/story/2012/abtech_3826.png)
- Jefferies analyst Mark Lipacis' analysis of transistor count in CPUs supported his thesis of secular demand for wafer fab equipment.
- CPU die sizes have increased by 5x - 9x for Intel Corp (NASDAQ:INTC) and Apple Inc (NASDAQ:AAPL) over three to five years.
- He views the current risk-reward as "particularly compelling" based on the current 25% discount to the market at which many of these stocks traded.
- Lipacis has a Buy on his preferred semiconductor capital equipment stocks KLA Corp (NASDAQ:KLAC), Applied Materials Inc (NASDAQ:AMAT), Lam Research Corp (NASDAQ:LRCX), ASML Holding NV (NASDAQ:ASML), and ACM Research Inc (NASDAQ:ACMR).
- Price Action: ASML shares traded lower by 0.86% at $648.45 in the premarket on the last check Friday.