Teradyne, Inc. (TER) Bank of America 2026 Global Technology Conference June 2, 2026 4:20 PM EDT
Company Participants
Gregory Smith – President, CEO & Director
Conference Call Participants
Vivek Arya – BofA Securities, Research Division
Presentation
Vivek Arya
BofA Securities, Research Division
Welcome back to this session at the BofA Global Tech Conference. I’m Vivek Arya from BofA Semiconductor semi-cap equipment research team. I’m really delighted and honored to have the team from Teradyne join us, Greg Smith, the President and CEO. And as always, I’ll go through my questions, but please feel free to raise your hand if you would like to bring up something. Greg, really warm welcome. Really happy to see you at our conference.
Gregory Smith
President, CEO & Director
Great to be here. Thank you.
Question-and-Answer Session
Vivek Arya
BofA Securities, Research Division
Wonderful. So let’s just start with kind of a state of the union. And if you could help us frame the addressable opportunity for automated test equipment. And I say that because it seems the semiconductor industry has — is close to achieving its $1 trillion kind of milestone much, much sooner than we thought. Wafer fab equipment demand is very strong. How do we connect the dots from those 2 data points to what the opportunity is for you and how it’s going to develop if the industry — semi industry gets to, I don’t know, say, $2 trillion in a few years?
Gregory Smith
President, CEO & Director
To $2 trillion. Okay. So there’s — if you look just over the last couple of years, you’re definitely seeing an inflection in the test equipment buy rate. If you look back in history, the semiconductor buy rate has been hovering around or slightly below 1% of semiconductor revenue. And over the past couple of years, we’ve actually seen it begin to inflect.