KLA supplies process-control and metrology equipment that inspects semiconductor manufacturing defects, ranking alongside Lam Research and Applied Materials as one of the "big three" chip equipment makers. A 105.1% one-year return reflects the same AI chip capacity boom benefiting its peers.

Growth (C), however, trails the other two equipment names (AMAT: B, LRCX: B), and valuation (C-, ~51x P/E) is demanding as well. Whether to hold one, two, or all three of these names ultimately comes down to sizing an overlapping bet on the same semiconductor equipment cycle.