Applied Materials Sees Strong China Sales, Advanced Technology Driving Analyst Optimism
Portfolio Pulse from Priya Nigam
Applied Materials, Inc. (NASDAQ:AMAT) reported better-than-expected fiscal second-quarter results, leading to a series of positive analyst reviews and increased price targets. The company saw strong sales in China and advanced technology driving growth. Analysts from Goldman Sachs, Mizuho Securities, JPMorgan, Stifel, Cantor Fitzgerald, Needham, and KeyBanc Capital Markets all maintained positive ratings, with price targets ranging from $240 to $260. Despite some concerns about a slowdown in China DRAM revenue, the overall outlook remains optimistic, with significant growth expected through 2025.
May 17, 2024 | 3:41 pm
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Applied Materials reported better-than-expected Q2 results, leading to positive analyst reviews and increased price targets. Strong sales in China and advanced technology are driving growth, with significant expansion expected through 2025.
The company's better-than-expected earnings and revenue, along with strong sales in China and advanced technology, have led to positive analyst reviews and increased price targets. This is likely to drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100