Applied Materials (NASDAQ:AMAT) is one of the AI Stocks to Watch. Applied Materials is gaining renewed interest from Wall Street as analysts view the stock as well-positioned toward growth whether the market is market-driven or share-driven. On February 13, TD Cowen analyst Krish Sankar raised the price target on Applied Materials to $450.00 (from $315.00) while reiterating its “Buy” rating.
The research firm believes that AMAT is poised to benefit from stronger semiconductor equipment demand in C26. In particular, it noted over 20% system growth for both AMAT and Lam Research, which is above ASML and KLAC.
With AMAT and LRCX together representing roughly 30% of global wafer fabrication equipment (WFE), the key question is whether it is the overall WFE market that will grow 20% or share gains will be driven by rising deposition and etch intensity from DRAM node complexity and GAA foundry transition.
Either way, see AMAT as well positioned to benefit. PT to $450.
Applied Materials, Inc. is a leader in materials engineering solutions engaged in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries.
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This article is originally published at Insider Monkey.
