AEHR Q2 2026 earnings teardown yields 4 trades: AEHR long (AI burn-in re-rating, HBF upside, FY27 2.6x–3x guide); SNDK long (HBF validates next-gen flash as differentiated AI memory tier); ON long (SiC recovery confirmed by $8M of new orders in one month); MPWR long (HBF's power-supply-breaking demands structurally benefit high-density power management chips).
originalFY27 revenue guidance is $130–$150 million, implying 2.6x–3x growth, with 18–22% non-GAAP pre-tax margins. Management says it is not capacity constrained at $150 million and could raise guidance as orders convert.
The HBF commentary is especially bullish for $SNDK. It suggests next-generation flash is becoming structurally more power- and test-intensive, validating HBF as a differentiated AI-memory architecture rather than simply another enterprise SSD.
Silicon carbide is recovering, with approximately $8 million of new orders in the last month. That supports $AEHR while improving the backdrop for $ON $WOLF $IFNNY $STM and $NXPI.
HBF is breaking existing test infrastructure across power supplies, I/O pins and parallelism. That is bullish for $AEHR's high-power burn-in platform and for the broader power stack across $MPWR $POWL $ON $NXPI and $VRT.