ACMR - ACM Research stock rises on upbeat 2023 revenue outlook

• ACM Research ( NASDAQ: ACMR ) shares gained 23% premarket on Tuesday after the wafer processing solutions supplier reaffirmed its full year 2022 revenue outlook of $365M to $385M. Analysts expect the firm to generate $377.5M revenue for the year .
• For full year 2023, the company expects $515M to $585M in revenue, which is well above consensus estimate of $425.52M for the year.
• This expectation is based on ACM management’s current assessment of the potential impact from current US-China trade policy, and assumes the COVID-19 reopening in the PRC, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors.

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