(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 BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindGameStop Shares Soar as ‘Roaring Kitty’ Revitalizes Retail FrenzyChina to Start $138 Billion Bond Sale on Friday to Boost EconomyTesla Rehires Some Supercharger Workers Weeks After Musk’s CutsThe supplier of semiconductor man
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.