Key Highlights

  • Corgi CAMT 2x fell 21.32% to $10.04 on Friday, October 23, implying Camtek dropped about 10.7%, calculated.
  • Lam Research closed down 11.76% and KLA down 9.55% on Thursday, October 22, after Lam reported record revenue of $8.22 billion.
  • Applied Materials closed down 8.16% at $375.58 on October 22, and twice that is about 16.3%, calculated.
  • Keysight reported fiscal third-quarter orders of $2.09 billion, about 56% above a year earlier, calculated.
  • All five Corgi funds charge 0.45% and hold between about $115 thousand and $544 thousand in net assets.

Why Did Semiconductor Equipment 2x ETFs Fall Up to 21% on October 23?

Five Corgi 2x funds on equipment, packaging, test and power names fell between 16.14% and 21.32% on Friday, October 23, 2026, as screened. Corgi CAMT 2x Daily ETF (CBOE:CAMC) fell 21.32% to $10.04, implying Camtek (NASDAQ:CAMT) dropped about 10.7%, and Corgi AMKR 2x Daily ETF (CBOE:AMKX) fell 21.22% to $5.78, implying Amkor Technology (NASDAQ:AMKR) fell about 10.6%. Corgi MPWR 2x Daily ETF (CBOE:MPWC) lost 17.88%, Corgi KEYS 2x Daily ETF (CBOE:KEYX) 17.79% and Corgi AMAT 2x Daily ETF (CBOE:APMI) 16.14%, implying declines of about 8.9% in Monolithic Power Systems (NASDAQ:MPWR), 8.9% in Keysight Technologies (NYSE:KEYS) and 8.1% in Applied Materials (NASDAQ:AMAT), all calculated.

The backdrop was Thursday, October 22, when Lam Research (NASDAQ:LRCX) closed down 11.76% and KLA (NASDAQ:KLAC) closed down 9.55% after Lam reported record revenue of $8.22 billion, up 54%, with reports tying the drop to AI spending worries and its own forecast. No announcement was identified for most of the underlying companies on the day.

CAMC: Why Did Camtek's Fund Fall 21.32% After Record Numbers?

Camtek makes inspection and metrology equipment for wafers and advanced packages. On October 14 it pre-announced record third-quarter revenue of $160 million to $161 million, up 27%, with fourth-quarter revenue guided to about $180 million, up 40%, and full-year 2026 revenue to about $595 million.

The shares were already soft, down 6.3% to about $138.27 on October 13 at a market value near $6.36 billion and a trailing price-to-earnings ratio above 200. Full third-quarter results are due on Wednesday, November 4. CAMC held about $151.02 thousand in net assets.

AMKX: What Does Amkor Need to Show on Monday?

Amkor provides outsourced packaging and test services, including advanced packaging for AI chips. It reports after the close on Monday, October 26, against guidance of net sales of $1.95 billion to $2.05 billion, gross margin of 18.5% to 19.5% and earnings of $0.72 to $0.82 per share. Second-quarter sales were a record $1.898 billion, up 26%.

On October 21 the shares traded up 4.05% at $43.39 after an agreement tied to Nvidia (NASDAQ:NVDA) for about $1.3 billion of added packaging capacity in South Korea, and multi-year customer agreements now total about $3 billion. Capital spending is planned at $2.5 billion to $3.0 billion, and unused capacity at the Arizona campus will add depreciation.

APMI: Did Applied Materials' Fund Simply Track Thursday's 8.16% Fall?

Applied Materials closed down 8.16% at $375.58 on October 22, and twice that is about 16.3% (calculated), so APMI's 16.14% decline tracks that session closely. Early Friday indications for Lam and KLA were modestly higher, which is why the timing of screened moves matters. The shares had also fallen about 7% on October 13, its investor day.

Fiscal third-quarter revenue was a record $9.12 billion, up 25%, with non-GAAP earnings of $3.50 per share, up 41%. Fiscal fourth-quarter revenue is guided to about $10.25 billion, a midpoint about 12.4% above the third quarter (calculated).

KEYX: Why Did Keysight's Fund Drop Despite Orders Above $2 Billion?

Keysight designs electronic test and measurement systems. For the quarter ended July 31, revenue rose 36% to $1.85 billion and orders were $2.09 billion, about 56% above a year earlier (calculated), with non-GAAP earnings of $3.07 per share against $1.72.

Fiscal fourth-quarter revenue is guided to $1.93 billion to $1.95 billion and non-GAAP earnings to $3.34 to $3.40 per share, with the quarter ending October 31. KEYX began trading on June 23, 2026 and held about $262.11 thousand in net assets.

MPWC: Why Is Monolithic Power Falling After Record AI Power Sales?

Monolithic Power is a fabless maker of power management chips. Second-quarter revenue was a record $980.6 million, up 47.6%, and enterprise data, which includes AI and server power, was $380.6 million, or 38.8% of revenue against 32.7% in the first quarter. The board added $500 million to its buyback authorization, bringing it to $1 billion.

Third-quarter revenue is guided to $1.14 billion to $1.16 billion, a midpoint about 17.3% above the second quarter (calculated). MPWC trades about 38.7% below its $27.16 price on October 7 (calculated).

Semiconductor Equipment 2x ETFs Compared: Which Fund Lost Most Against Its Stock?

Each fund lost about twice its implied stock move: CAMC 21.32% against 10.7%, AMKX 21.22% against 10.6%, MPWC 17.88% against 8.9%, KEYX 17.79% against 8.9% and APMI 16.14% against 8.1% (calculated). The gap between the largest and smallest fund loss is 5.18 percentage points (calculated).

Gains needed to recover are about 27.1% for CAMC, 26.9% for AMKX, 21.8% for MPWC, 21.6% for KEYX and 19.2% for APMI (calculated). Combined net assets are about $1.55 million (calculated), led by MPWC at $544.25 thousand, roughly 4.7 times AMKX's $115.10 thousand (calculated).

What to Watch Next: Amkor on October 26, Monolithic Power on October 29 and Applied Materials on November 12

Amkor reports after the close on Monday, October 26, and the Federal Reserve meets on October 28 after raising its target range to 3.75% to 4.00% in September. Monolithic Power reports on Thursday, October 29, where revenue at or above its guided range and the enterprise data share are the readings that will frame the shares; Camtek reports on Wednesday, November 4 and Applied Materials on Thursday, November 12. Lam guided December-quarter revenue to $8.6 billion, plus or minus $400 million, and cited 2027 wafer fab equipment demand above $200 billion, so suppliers will be judged on whether they repeat that view. These funds reset daily and this article is informational only.