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Advanced Energy Industries, Inc.

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Advanced Energy’s is benefiting from new product introductions and robust demand for equipment. These along with increased adoption rates of 3D NAND technology, and 10 nm logic/foundry activities bode well for the company’s top-line growth. Further, momentum in the Industrial Precision Power segment should continue as a result of geographic and vertical expansion. Also, continuing adoption of the company's plasma-based processes is expected to drive segmental growth. Moreover, exiting the solar inverter business remains positive as this is allowing the company to focus more on the core markets. Estimates have been stable lately ahead of the company’s Q3 earnings release. However, weakness in memory spending is a negative. Also, customer concentration, integration issues and currency headwinds are concerns. Notably, the stock has underperformed the industry it belongs to over a year.


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