Applied Materials Inc reaches 52-week high amid sector rotation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 15 2024
0mins
Should l Buy AMAT?
Source: investopedia.com
Applied Materials Inc shares rose by 4.14%, reaching a 52-week high, reflecting strong investor interest in the semiconductor sector.
This increase comes amid a broader market rally, with the S&P 500 gaining 0.62%, primarily driven by strength in chip makers and megacap tech stocks. Despite the Nasdaq-100 declining by 0.19%, Applied Materials is benefiting from positive sentiment surrounding the semiconductor industry, particularly in light of China's new semiconductor policy that boosts domestic equipment demand.
The implications of this price movement suggest that investors are optimistic about Applied Materials' growth prospects, especially as the company navigates a competitive landscape influenced by both domestic and international market dynamics.
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Analyst Views on AMAT
Wall Street analysts forecast AMAT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMAT is 288.05 USD with a low forecast of 190.00 USD and a high forecast of 425.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
18 Buy
4 Hold
0 Sell
Strong Buy
Current: 303.990
Low
190.00
Averages
288.05
High
425.00
Current: 303.990
Low
190.00
Averages
288.05
High
425.00
About AMAT
Applied Materials, Inc. is a materials engineering solution company. The Company provides equipment, services and software to the semiconductor, display, and related industries. It operates in three segments: Semiconductor Systems, Applied Global Services (AGS), and Display. The Semiconductor systems segment designs, develops, manufactures and sells a range of primarily 300 mm equipment used to fabricate semiconductor chips, also referred to as integrated circuits (ICs). The AGS segment provides services, spares and factory automation software to customer fabrication plants globally. The AGS segment also manufactures and sells 200mm and other equipment. The Display segment is comprised primarily of products for manufacturing liquid crystal displays (LCDs), organic light-emitting diodes (OLEDs), and other display technologies for televisions, monitors, laptops, personal computers (PCs), tablets, smartphones, and other consumer-oriented devices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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