Advanced Energy Industries

Evidence of pricing leverage and mix improvement shows in the trajectory to 40.1 percent non‑GAAP gross margin in Q1 2026 and management’s >43 percent long‑term margin ambition. AE notes ability to adjust prices to offset tariffs and is benefiting from higher‑value platforms (eVoS, eVerest, NavX) in Semi.

However, the 10‑K explicitly flags that Data Center Computing carries structurally lower margins, which caps consolidated pricing power as that mix grows. Overall, moderate‑to‑good pricing power, strongest in Semi, more limited in Data Center.