Why KLA Stock Rose 15.3% in July
Shares of KLA (NASDAQ: KLAC) soared 15.3% in July, according to S&P Global Market Intelligence. This was all the more impressive since the strong July came on the back of a similar 14.7% surge in June.
KLA has dominant market share in the process diagnostic and control (PDC) market. PDC equipment is key to the highly complex process by which leading-edge semiconductors are made. As such, KLA shares tend to fluctuate with the overall semiconductor market. The chip market fell into a downturn late last year, though many chip and chip equipment stocks have risen in 2019 as investors look for signs of a cyclical bottom.
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