Key Highlights

● ACM Research was indicated down 8.70% at $45.00 in Friday pre-market trading.

● A market note cites preliminary third-quarter Revenue guidance of $360 million to $365 million.

● Chip-equipment stocks are under pressure worldwide after Intel's weak outlook.

● Full third-quarter results and a call are scheduled for Nov. 5.

ACM Research (NASDAQ:ACMR) shares were indicated at $45.00 as of 8:23 a.m. ET Friday, down 8.70%, according to premarket movers data.

The decline comes despite what an auto-generated market note describes as preliminary third-quarter revenue guidance of $360 million to $365 million, above consensus. The same note cites valuation and insider-selling concerns. ACM's preliminary release could not be read directly, and the note cautions that its summaries may not be the direct cause of a move. The most visible pressure Friday is a broad selloff in semiconductor stocks, which is likely weighing on the shares, though that link is an inference.

What ACM Research does and where it stands

ACM Research, based in Fremont, California, makes wafer cleaning, plating and other front-end equipment for chipmakers. Most of its Business runs through its majority-owned Subsidiary ACM Shanghai and serves customers in mainland China.

The company said on Sept. 30 that it would report preliminary nine-month results before the U.S. market opened on Oct. 28, with full third-quarter results to follow. A later release set that full report for Nov. 5, before the open, with a conference call at 8 a.m. ET.

Its order book has been strong. ACM said in its Sept. 30 filing that ACM Shanghai's Backlog stood at 17.1 billion yuan, about $2.5 billion, as of Sept. 29, up 88.2% from a year earlier. In August, the company raised its 2026 revenue outlook to $1.125 billion to $1.175 billion.

Product news has not stopped the stock's swings. On Oct. 21, ACM announced a sulfuric acid recycling feature for its single-wafer hot SPM cleaning system, which it said recovers 70% of the acid and was validated by a foundry customer. The stock fell 10.18% that day, according to market records.

ACM said the 170-degree Celsius system was validated across more than 50 process layers and estimated it could save about 400 tons of sulfuric acid per tool each year, a pitch aimed at chipmakers' cost and environmental targets.

The equipment selloff

Chip-equipment stocks are under pressure worldwide. Intel (NASDAQ:INTC)'s weak fourth-quarter guidance sent its shares down about 25% premarket, Tokyo Electron fell more than 5% in Asia, according to market data, and Nvidia (NASDAQ:NVDA), AMD (NASDAQ:AMD), Broadcom (NASDAQ:AVGO) and Micron (NASDAQ:MU) were down 2% to 9% before the bell, according to market reports. Domestic peer Ultra Clean Holdings (NASDAQ:UCTT) was down about 9.5% on the premarket table despite its own record quarter.

Intel's guidance is at the center of the selloff. The company forecast fourth-quarter revenue of $15.0 billion to $16.0 billion, below expectations, and a brokerage downgraded the stock to Neutral from Buy and cut its target to $100 from $145, according to one report. Even strong results have not been spared: Sandisk (NASDAQ:SNDK) was down about 8% premarket despite a beat, according to market reports.

ACM's China focus means it is less tied to Intel's Capital budget than U.S.-focused suppliers. But it carries its own risks: U.S. export controls on chip tools, U.S.-China trade policy, and the governance complexity of a U.S.-listed parent with a Shanghai-listed subsidiary. Treasury Secretary Scott Bessent has said a China trade deal is extended through January, according to media reports, which eases one near-term worry.

ACM trades on the Nasdaq and is part of the Nasdaq Composite, where Nasdaq-100 futures were down about 2.6% as of roughly 7:56 a.m. ET, according to market data.

What to watch: the full third-quarter results and call on Nov. 5, any update to the 2026 revenue outlook, whether peers recover after the open, and any new export-control headlines.