What happened
Shares of ACM Research (ACMR -1.84%) were moving higher this week after the maker of semiconductor cleaning equipment reaffirmed its 2022 guidance and posted a strong preliminary forecast for 2023.
According to data from S&P Global Market Intelligence, the stock was up 25.2% for the week as of Thursday afternoon at 2:32 p.m. ET.
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So what
Shares of ACM Research jumped on Tuesday when the update came out. The company reaffirmed its revenue forecast of $365 million-$385 million in 2022, which implies a growth rate of 44% at the midpoint.
Investors seemed more excited about its 2023 forecast, which called for revenue of $515 million-$585 million, or 47% growth at the midpoint, which comes even as much of the semiconductor industry is struggling.
The company said that forecast is based on its current assessment of any potential impact from…
