The valuation concern is real, but Advantest's positioning in AI chip testing is hard to replicate. A P/E of 65 looks steep until you considr the structural shift happening in the semiconductor industry. The weak dividend yield is disapointing for income investors, but the buyback program shows management's confidence in the business trajectory.
The valuation concern is real, but Advantest's positioning in AI chip testing is hard to replicate. A P/E of 65 looks steep until you considr the structural shift happening in the semiconductor industry. The weak dividend yield is disapointing for income investors, but the buyback program shows management's confidence in the business trajectory.