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Which companies does W-2 test?
40 companies, under 2 questions: Who makes the chips, and the tools to make them? · Who builds and equips the data centers?
The summer sell-offs on beat-and-raise reports are the market paying less for earnings, not the businesses failing. They reverse when the price of money stops rising.
What would prove us wrong
At the late-October to mid-November prints, companies that beat and raise keep falling while companies that miss hold. That would say the market is pricing the businesses, not the money.
Review 2026-11-20 · check: 10-Q filings and earnings releases · the claim's page
| Company | What it sells | Reports next |
|---|---|---|
| AAON AAON |
AAON makes heating, ventilation and air-conditioning equipment for data centers and other large buildings, including the cooling systems that keep computing hardware running. | 5 Nov · expected, per Nasdaq |
| ASE Technology ASX |
ASE Technology packages and tests semiconductor chips for other companies. | 29 Oct · expected, per Nasdaq |
| Air Products APD |
Air Products sells industrial gases such as oxygen, nitrogen and hydrogen, plus the equipment that produces them, supplying basic inputs that chipmakers and data centres need. | 5 Nov · expected, per Nasdaq |
| Amkor AMKR |
Amkor provides chip packaging and testing services that connect silicon dies to circuit boards. | 26 Oct · expected, per Nasdaq |
| Amphenol APH |
Amphenol makes connectors and interconnect systems that link chips, circuit boards and servers together. | 28 Oct · expected, per Nasdaq |
| Astera Labs ALAB |
Astera Labs designs chips and connectivity hardware that move data quickly between processors, memory and servers in AI data centres. | 3 Nov · expected, per Nasdaq |
| Broadcom AVGO |
Broadcom designs custom AI accelerator chips and high-speed networking silicon that link processors together. | 10 Dec · expected, per Nasdaq |
| Caterpillar CAT |
Caterpillar makes heavy construction and mining machinery, plus the diesel generators that power data centers. | 29 Oct · expected, per Nasdaq |
| Coherent COHR |
Coherent makes lasers and optical components that move data between computers and data centers. | 4 Nov · expected, per Nasdaq |
| Comfort Systems FIX |
Comfort Systems installs and services the heating, ventilation and air-conditioning systems that keep data centers and other large buildings running. | 22 Oct · expected, per Nasdaq |
| Corning GLW |
Corning makes specialty glass and optical fiber used in data centers and networks. | 27 Oct · expected, per Nasdaq |
| Credo Tech CRDO |
Credo Technology makes high-speed chips and cables that move data between servers and processors. | 7 Dec · expected, per Nasdaq |
| Cummins CMI |
Cummins makes diesel and natural-gas engines and power generators that keep data centers and other facilities running. | 5 Nov · expected, per Nasdaq |
| Dell Technologies DELL |
Dell Technologies sells servers, storage and PCs to businesses and cloud providers, including AI servers used in the data centres that run artificial intelligence. | 24 Nov · expected, per Nasdaq |
| Digital Realty DLR |
Digital Realty leases and operates the data centers where cloud and enterprise computing equipment is housed, powered and cooled. | 29 Oct · expected, per Nasdaq |
| EMCOR EME |
EMCOR designs, builds and maintains the electrical and mechanical systems inside data centers and other large facilities. | 29 Oct · expected, per Nasdaq |
| Eaton ETN |
Eaton sells electrical power equipment, such as switchgear, power distribution units and uninterruptible power supplies, that keeps data center computing hardware supplied and protected. | 3 Nov · expected, per Nasdaq |
| Entegris ENTG |
Entegris makes specialty chemicals, materials and filtration products that chipmakers use to build semiconductors. | 29 Oct · expected, per Nasdaq |
| Equinix EQIX |
Equinix runs data centers where companies house their servers and connect to cloud and network providers. | 28 Oct · expected, per Nasdaq |
| Fabrinet FN |
Fabrinet, a Thailand-based contract manufacturer, builds optical communications modules and components for networking and data-center customers. | 2 Nov · expected, per Nasdaq |
| Generac GNRC |
Generac makes backup generators and power equipment that keep data centers and other facilities running during grid outages. | 28 Oct · expected, per Nasdaq |
| Hubbell HUBB |
Hubbell makes electrical components, connectors and grid equipment that power data centers and the wider electrical network. | 27 Oct · expected, per Nasdaq |
| IES Holdings IESC |
IES Holdings designs, installs and maintains electrical and data-center systems, building the physical power and wiring that AI computing facilities need. | 20 Nov · expected, per Nasdaq |
| Iron Mountain IRM |
Iron Mountain (IRM) rents out data centers and records storage space to other companies. | 5 Nov · expected, per Nasdaq |
| KLA KLAC |
KLA makes inspection and metrology tools that check semiconductor wafers for defects during manufacturing. | 4 Nov · expected, per Nasdaq |
| Lam Research LRCX |
Lam Research makes the machines chipmakers use to etch and deposit the microscopic layers that form semiconductors. | 21 Oct · expected, per Nasdaq |
| Linde LIN |
Linde supplies industrial gases such as oxygen, nitrogen and argon, plus the ultra-pure gases chipmakers use. | 29 Oct · expected, per Nasdaq |
| Lumentum LITE |
Lumentum makes lasers and optical components that move data between servers and data centres. | 5 Nov · expected, per Nasdaq |
| MYR Group MYRG |
MYR Group builds the electrical power lines and substations that deliver electricity to data centers and other large computing facilities. | 28 Oct · expected, per Nasdaq |
| Marvell MRVL |
Marvell designs custom chips and networking silicon that link and power data-center servers. | 1 Dec · expected, per Nasdaq |
| MasTec MTZ |
MasTec builds infrastructure across America, with smaller operations in Canada and Mexico. | 29 Oct · expected, per Nasdaq |
| Micron MU |
Micron makes memory and storage chips, including the high-speed DRAM and flash that feed processors. | not yet announced |
| Modine Manufacturing MOD |
Modine Manufacturing makes thermal management equipment, including cooling systems for data centers, which keep AI servers from overheating. | 27 Oct · expected, per Nasdaq |
| Powell Industries POWL |
Powell Industries builds electrical switchgear and power distribution equipment that feeds and protects large facilities, including data centers. | 17 Nov · expected, per Nasdaq |
| Quanta Services PWR |
Quanta Services builds and maintains the power transmission lines, substations and grid connections that carry electricity to data centers and other large computing facilities. | 29 Oct · expected, per Nasdaq |
| Sterling Infrastructure STRL |
Sterling Infrastructure builds the foundations, roadways and utility systems for data centers and other large facilities. | 28 Oct · expected, per Nasdaq |
| Super Micro Computer SMCI |
Super Micro Computer builds servers and the racks that house them, supplying the physical computing hardware that data centers rely on. | 3 Nov · expected, per Nasdaq |
| TSMC TSM |
Taiwan Semiconductor Manufacturing Company makes advanced chips designed by other firms. | not yet announced |
| Vertiv VRT |
Vertiv sells infrastructure technology products and solutions through distributors and original equipment manufacturers. | 28 Oct · announced by the company |
| nVent NVT |
nVent sells electrical enclosures, cooling equipment and power-connection products that keep data centers and other computing facilities safe and running. | 30 Oct · expected, per Nasdaq |
Showing 40 of 40 · No price is shown: the Index is a map of what each company sells and where it sits, not a quote board.