MKSI - Advanced Energy Industries: Temporary Supply Challenges Don't Hurt The Long-Term Case

• AEIS shares were hit hard by lower guidance tied to component supply challenges across the business, but business in Semiconductor and Industrial should be deferred rather than lost.
• Diversifying beyond the semi-equipment market has led to lower margins and management still must validate it with improved execution in Industrial, Data Center, and Telecomm.
• Mid-single-digit long-term revenue and mid-to-high single-digit FCF growth can support a double-digit annualized return from today's price.

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