A little over a year ago, I highlighted an investor presentation from a tiny semiconductor company called Axcelis Technologies (NASDAQ: ACLS). Axcelis makes one specific class of equipment -- ion implantation machines -- used in the fabrication of silicon wafers (which eventually get chopped up into the "chips" that power our electronic devices). Axcelis is a beneficiary of the coming surge in demand for its machines as a new generation of chip manufacturing gets rolling.

It's been a bumpy ride since then, but Axcelis clobbered the bear market of 2022. Shares are up nearly 80% over the last 12 months, including a more than 60% surge so far in 2023. Is this semiconductor equipment stock still a buy now?  

Ion implantation is a type of materials engineering. Basically, a silicon wafer can be modified at the molecular level by introducing "impurities" (another element besides silicon) to either increase or decrease its electrical conductivity. Ion implantation machines are Axcelis' specialty.

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Source Fool.com