Applied Materials' DRAM Revenues May Hit Record High: Analysts' Takeaways On FQ3 Print, Outlook
Portfolio Pulse from Priya Nigam
Applied Materials, Inc. (NASDAQ:AMAT) reported strong fiscal third-quarter results, with its DRAM revenues growing by 45% sequentially and 12% year-over-year. Analysts from Mizuho Securities and Morgan Stanley raised their price targets for AMAT, while Needham and KeyBanc Capital Markets reaffirmed their ratings. The company's strong guidance is attributed to its exposure to resilient sectors of the semi cycle, including ICAPS and China.
August 18, 2023 | 3:14 pm
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Applied Materials reported strong Q3 results, leading to raised price targets from analysts. The company's DRAM revenues grew significantly, which could drive the stock price up.
Applied Materials reported strong Q3 results, with significant growth in DRAM revenues. This positive performance, along with raised price targets from analysts, could increase investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100