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The Markets Desk — Week 43 · Sun 25 Oct 2026
Markets / 6 layers

Six layers, six numbers.

From the fab up. Each layer is judged on one number, and says whether we have it.

Materials
The stack6 layers
01

Litho & fab

11 co.1/6 sources collected

ASML net bookings minus backlog burn

14,321,556TWD thousands2026-09-01
02

HBM & memory

6 co.0/5 sources collected

HBM sold-out horizon in quarters

Not collected
03

Accelerators

7 co.3/8 sources collected

days from a BIS effective date to the next guidance cut

120.00days2026-11-20
04

Optics & interconnect

24 co.1/4 sources collected

800G/1.6T transceiver shipment growth

—2026-09-03
05

Power

155 co.9/21 sources collected

firm vs reserved turbine GW across GE Vernova, Siemens Energy, Mitsubishi Power

14,752,152H100e2026-10-25
06

Cooling & water

6 co.0/0 sources collected

No number written for this layer yet

Not collected

Beats that do not sit on the stack — space, robotics, biopharma and the rest — keep their own index at Beats.