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KLA Corporation (NASDAQ:KLAC) is one of the best semiconductor equipment stocks to buy.

On April 29, KLA Corporation (NASDAQ:KLAC) reported fiscal third-quarter revenue of $3.415 billion, above the midpoint of its guidance range, while non-GAAP diluted EPS came in at $9.40. The company also guided for fiscal fourth-quarter revenue of $3.575 billion, plus or minus $200 million. Management said KLA remains confident in its 2026 outlook and pointed to its role in the AI ecosystem, including foundry/logic, memory, advanced packaging, and services.

Reuters added that KLA’s guidance came in above analyst revenue estimates, supported by demand for tools used as chipmakers increase production of high-end AI processors. Reuters also noted that more complex AI chips are raising process-control intensity, which increases the need for inspection and yield-management tools.

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KLA Corporation (NASDAQ:KLAC) provides process-control and process-enabling equipment, software, and services used in semiconductor wafer, reticle, integrated circuit, packaging, and printed circuit board manufacturing.

While we acknowledge the potential of KLAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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