Can KLA Stock Rally 50% After This Dip?
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KLA (KLAC) stock has dropped 22.6% in a month, to $151.38 on November 9, 2026. A decline that fast leaves buyers asking whether to step in. If you expect KLA to rally 50% from here, you are also expecting its sales to chipmakers to keep growing at the pace management guided for the December quarter. Such a rise has precedent: in the year following KLA’s earlier drops of this depth, its best price came a median 74.4% above the dip-date price. But how many of those rebounds were still standing a year later, and what did buyers sit through first?
How Did KLA Buyers Fare After Past Falls?
Since January 2010, KLA stock has fallen more than 20% within 30 trading days ten times, counting the current drop. The two most recent declines are too new to evaluate over a full year. All eight of KLA’s earlier falls with a full year behind them ended that year higher, by a median 67.0%.
Buyers secured those gains mostly by waiting rather than by absorbing further losses. The lowest close in the year following a drop sat a median 7.4% below the dip-date price. The best price arrived much later, reaching a median 347 days, or about 11 months, after the initial fall.
| Time after a past dip | Past dips with that much time after them | Median KLAC price change |
|---|---|---|
| 21 trading days | 9 | 8.0% |
| 63 trading days | 9 | 25.0% |
| 126 trading days | 8 | 31.0% |
| 252 trading days | 8 | 67.0% |
| Dip date | Fall to dip date (KLAC / SPY) | 1 year later | Best in that year (days to it) | Worst in that year |
|---|---|---|---|---|
| 2026-11-04 | -20.3% / 0% | – | – | – |
| 2026-07-28 | -25.0% / 0.0% | – | – | – |
| 2025-04-04 | -23.4% / -16.0% | 204.0% | 203.6% (371 days) | 0% |
| 2024-11-15 | -22.0% / 2.0% | 81.0% | 103.0% (348 days) | -5.7% |
| 2022-09-26 | -20.4% / -14.0% | 49.0% | 71.3% (345 days) | -13.3% |
| 2022-03-01 | -24.1% / -7.0% | 14.0% | 28.6% (331 days) | -21.3% |
| 2020-03-12 | -26.6% / -24.0% | 138.0% | 172.5% (341 days) | -9.0% |
| 2018-10-10 | -20.0% / -4.0% | 75.0% | 77.4% (351 days) | -12.7% |
| 2011-09-02 | -20.3% / -12.0% | 54.0% | 60.6% (237 days) | -1.6% |
| 2010-01-29 | -22.0% / -3.0% | 59.0% | 62.4% (363 days) | -2.7% |
| Median of 8 complete years | – | 67.0% | 74.4% (347 days) | -7.4% |
Are KLA’s Sales To Chipmakers Still Picking Up?
Yes: KLA’s revenue growth against a year earlier has quickened in each of the last three quarters. Sales rose 7.2% in fiscal Q2 2026, which ended in December 2025, and 11.5% in fiscal Q3. Growth then reached 15.2% in fiscal Q4 and 28.9% in fiscal Q1 2027, which ended September 30, 2026.
Management tied the September quarter to strength in leading edge foundry logic related to AI infrastructure investments, and to advanced packaging. The company guided for December-quarter revenue of $4.7 billion, plus or minus $200 million, against the $4.14 billion KLA reported for the September quarter.
Profit has kept pace so far. KLA’s operating margin was 45.0% in the September quarter, up from 41.7% a year earlier. Management said the margin gain it expects as sales grow is being offset by persistently high memory costs for the image processing in its systems, and that it is working to use memory more efficiently.
Buyers still pay well above the market for that growth. KLA trades at 37.6 times its last twelve months of earnings, against 21.8 for the S&P 500.
KLA Buyers Have Sometimes Sat Through Deeper Losses
Buyers after KLA’s March 1, 2022 fall saw the stock close as much as 21.3% below the dip-date price within the year. A year later, shares were up 14.0%, marking the smallest gain of the eight.
The fall before this one, on July 28, 2026, remains too recent to evaluate over a full year. Three months after that drop, shares were 22% lower.
For a buyer today, KLA’s past falls have paid by a year later, though the wait can begin with a deeper loss. KLA’s sales to chipmakers are still growing faster each quarter, with high memory costs the drag management named for margins. KLA keeping that growth up is the less settled part, and its revenue against its December-quarter guide is the figure to watch when the company reports, expected in January 2027.
Does This Mean You Should Act On KLAC?
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