VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Axcelis Technologies, Inc. vs Duolingo, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Axcelis Technologies, Inc.

ACLS · Nasdaq Global Select Market

Market cap (USD)$4.4B
Gross margin (TTM)44.9%
Operating margin (TTM)14.2%
Net margin (TTM)14.3%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2026-04-25
Moat score
64/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Axcelis Technologies, Inc.'s moat claims, evidence, and risks.

View ACLS analysis

Duolingo, Inc.

DUOL · NASDAQ

Market cap (USD)$4.7B
Gross margin (TTM)72.2%
Operating margin (TTM)13.1%
Net margin (TTM)39.9%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2026-01-06
Moat score
68/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Duolingo, Inc.'s moat claims, evidence, and risks.

View DUOL analysis

Comparison highlights

  • Moat score gap: Duolingo, Inc. leads (68 / 100 vs 64 / 100 for Axcelis Technologies, Inc.).
  • Segment focus: Axcelis Technologies, Inc. has 2 segments (68.1% in Ion implantation systems); Duolingo, Inc. has 2 segments (93.9% in Duolingo App).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Axcelis Technologies, Inc. has 7 moat types across 2 domains; Duolingo, Inc. has 6 across 3.

Primary market context

Axcelis Technologies, Inc.

Ion implantation systems

Market

Global semiconductor ion implantation equipment for wafer fabrication

Geography

Global, concentrated in Asia-Pacific semiconductor fabs

Customer

Semiconductor manufacturers, foundries, IDMs, power-device makers, memory producers and logic fabs

Role

OEM supplier of high current, medium current and high energy ion implantation systems

Revenue share

68.1%

Duolingo, Inc.

Duolingo App

Market

Mobile-first, freemium language learning and adjacent subjects (math, music)

Geography

Global

Customer

Consumers (end-users); advertisers

Role

Digital learning platform / content & software publisher

Revenue share

93.9%

Side-by-side metrics

Axcelis Technologies, Inc.
Duolingo, Inc.
Ticker / Exchange
ACLS - Nasdaq Global Select Market
DUOL - NASDAQ
Market cap (USD)
$4.4B
$4.7B
Gross margin (TTM)
44.9%
72.2%
Operating margin (TTM)
14.2%
13.1%
Net margin (TTM)
14.3%
39.9%
Sector
Technology
Technology
Industry
Semiconductors
Software - Application
HQ country
US
US
Primary segment
Ion implantation systems
Duolingo App
Market structure
Oligopoly
Competitive
Market share
19%-21% (estimated)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
64 / 100
68 / 100
Moat domains
Demand, Supply
Network, Demand, Supply
Last update
2026-04-25
2026-01-06

Moat coverage

Shared moat types

Design In QualificationBrand Trust

Axcelis Technologies, Inc. strengths

Learning Curve YieldCapex Knowhow ScaleInstalled Base ConsumablesService Field NetworkProcurement Inertia

Duolingo, Inc. strengths

Data Network EffectsHabit DefaultScope EconomiesOperational Excellence

Segment mix

Axcelis Technologies, Inc. segments

Full profile >

Ion implantation systems

Oligopoly

68.1%

Customer Solutions & Innovation aftermarket

Competitive

31.9%

Duolingo, Inc. segments

Full profile >

Duolingo App

Competitive

93.9%

Duolingo English Test

Oligopoly

6.1%

Want the full wide moat stocks list?

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.