Investing.com -- In a note on Tuesday, Bernstein lifted its forecasts for wafer fabrication equipment (WFE) spending, raising price targets across its semiconductor equipment coverage on growing conviction that the current upcycle "has legs." The two-year growth of 75%, Dai said, "strengthens our WFE upcycle call," with the uplift spread across all applications but skewed slightly more toward non-China memory and China foundry and logic. Bernstein now forecasts global ex-China WFE to grow 36% in 2026 and 37% in 2027, driven largely by DRAM and foundry revisions. It sees China WFE demand reaching $57 billion, $73 billion and $101 billion across 2026 to 2028, with memory leading the surge. Related articlesBernstein raises WFE growth estimates, boosts price targetsThese 2 stocks are best positioned to benefit from higher uranium prices: analystGoldman expects lower but still attractive stock market returns in 2026