New York, February 12, 2026, 15:16 (EST) — Regular session
- KLA Corp shares slipped 1.1% to $1,463.28 in afternoon deals, having traded as low as $1,434.46 and as high as $1,501.58 earlier.
- Chip-equipment names drifted lower too: Applied Materials slipped 2.7%, ASML lost 1.6%, and Lam Research shed 0.6%.
- Investors are sizing up a broad tech decline, with a few sector catalysts looming later Thursday and into Friday.
KLA Corp (KLAC) slipped 1.1% to $1,463.28 Thursday afternoon, losing ground after Wednesday’s bounce. Chip-equipment stocks moved lower as tech broadly declined.
It’s not a pretty picture. U.S. indexes dropped roughly 1% as software and tech stocks stumbled, hit by renewed questions over how soon big bets on artificial intelligence might deliver results. “We see this as a ‘prove it’ year for AI,” said Jack Herr, primary investment analyst at GuideStone Funds. 1
Bond yields slipped, though caution hung over the market with Friday’s U.S. consumer price index looming. “The bull case on the Fed cutting was pretty much centered around the weak employment picture, so that case was challenged,” said Jay Hatfield, CEO and CIO at Infrastructure Capital Advisors. 2
Semiconductor equipment names took a hit. Applied Materials dropped 2.7%. ASML shed 1.6%, while Lam Research eased 0.6%. The VanEck Semiconductor ETF slid roughly 1.5%, tracking close to the Nasdaq 100 ETF.
KLA occupies the process control segment of semiconductor equipment, specializing in inspection and metrology systems that scan wafers and catch flaws up front. Not as high-profile as lithography, this area becomes critical as manufacturers chase smaller nodes and stricter specs.
Eyes are turning to Applied Materials’ earnings after the bell, a release that tends to send waves through the equipment sector. Options traders, according to Investopedia, are betting on about a 6% swing for AMAT. China exposure and ongoing export rule questions remain front and center for the company and its peers. 3
KLA picked up momentum heading into Thursday, logging a 3.4% gain on Wednesday and closing at $1,479.50. That move snapped a two-day slide and left the stock ahead of several big-name rivals, MarketWatch data show. 4
Market nerves have been on edge since late January. KLA managed to top quarterly estimates, yet investors seemed more interested in the outlook. “What KLA offered for the March quarter looks like steady growth rather than renewed acceleration,” noted Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, after the release. 5
Even so, there are risks in both directions in the short term. If Applied Materials issues a cautious forecast, or if inflation data comes in above expectations, pricey chip-equipment stocks could stay under pressure. Fresh U.S. export restrictions aimed at China would only add more uncertainty around demand.
KLA shares kicked off Thursday at $1,478.02 and moved between $1,434.46 and $1,501.58. By the afternoon, volume was sitting near 597,000 shares.
KLA has a quarterly cash dividend of $1.90 per share coming up. According to a filing earlier this month, the payout hits March 3 for anyone holding shares as of Feb. 17. 6
KLA and its rivals now look to two clear triggers: Applied Materials reports after Thursday’s close, while Friday brings the CPI numbers—both set to shake up forecasts around chip sector spending and rates as next week approaches.
