New York, Jan 23, 2026, 20:18 (EST) — Market closed.
- KLA shares gained 0.8% on Friday, closing at $1,512.78, while chip-equipment peers showed mixed results
- Attention now turns to the Fed meeting scheduled for Jan. 27-28, alongside a busy week of corporate earnings reports
- The next major checkpoint for semiconductor equipment demand comes with KLA’s report on January 29.
KLA Corp shares finished Friday up 0.8% at $1,512.78, bouncing back from a low of $1,452 to close near the session’s peak. Applied Materials gained 1.1%, but Lam Research dropped 1.3%, and ASML’s U.S.-listed shares edged down 0.4%.
Rates take center stage next week as the Federal Reserve holds its policy meeting from Jan. 27-28. The rate decision is set for 2 p.m. ET Wednesday, followed by a press conference at 2:30 p.m., per the central bank’s official calendar. (Federal Reserve)
Earnings are another key driver. Roughly 20% of the S&P 500 is set to report, with investors eager to see if heavy AI-related spending is starting to pay off. “It’s been a little bit of a short but steep roller-coaster ride,” said PNC’s Yung-Yu Ma. Franklin Templeton’s Chris Galipeau highlighted stretched valuations, warning that “the earnings bar had better be met,” as the S&P 500 trades above 22 times expected earnings. (Reuters)
Friday’s action highlighted why expectations have climbed. The Dow dropped 0.58%, while the Nasdaq nudged up 0.28%. Chip stocks stumbled, led by Intel, which tumbled 17% after issuing a disappointing forecast. Janus Henderson portfolio manager Julian McManus described the upcoming earnings as a “show-me” moment. (Reuters)
KLA, a provider of inspection and measurement equipment crucial for detecting defects and boosting yields in semiconductor manufacturing, plans to release its fiscal second-quarter results Thursday, Jan. 29, after the U.S. market closes. The company will hold a webcast at 2 p.m. Pacific time to discuss the earnings. (KLA Corporation)
More equipment giants are setting dates. Lam Research plans to hold its quarterly earnings call on Jan. 28 at 2 p.m. Pacific, and Applied Materials will release its fiscal first-quarter results on Feb. 12. (Lam Research Newsroom)
Investors in KLA will be focused on orders, margins, and management’s outlook for 2026 demand in advanced packaging, memory, and leading-edge logic. Process control, which covers metrology and inspection equipment, plays a key role in boosting chip yields and tends to shift quickly with customer spending.
Traders will focus on the company’s forecast, looking for any “guidance” and clues that export rules or customer schedules might push shipments into future quarters. Unexpected news about China exposure or the pace at which AI-driven investment turns into actual bookings could move the stock sharply.
The setup works both ways. If the Fed shifts hawkish or tech suffers another broad sell-off, any cautious outlook from KLA could hit even harder.
Wall Street kicks back into gear Monday. For KLA holders, key dates loom: the Fed decision on Jan. 28, then KLA’s earnings report after the close on Jan. 29, capped by a 2 p.m. PT company webcast.
