➀ SEMI forecasts semiconductor manufacturing equipment sales to grow 6.5% year-on-year to $113 billion in 2024, with projections of $121 billion for 2025 and $139 billion for 2026. ➁ The wafer fab equipment (WFE) segment is expected to grow 5.4% to $101 billion in 2024, driven by DRAM, HBM, and China. ➂ Back-end equipment sales are projected to surge, with test equipment sales increasing 14.7% in 2025 and 18.6% in 2026.

➀ Japan's semiconductor manufacturing equipment sales have seen remarkable growth with August sales soaring by 20%; ➁ This marks the fifth consecutive month of double-digit growth; ➂ January-August sales reached an all-time high.

1. Deere & Company reported a 12% beat in Q3 EPS and affirmed its 2024 net income guidance of ~$7B, indicating a potential bottoming of the agricultural cycle. 2. The company's profitability exceeded expectations, with Large Ag margins at ~23%, partially offsetting lower volumes. 3. The stock remains Overweight with a raised price target of $505/share, reflecting improved margins in Ag segments and a slightly weaker Construction business.