Bernstein Keeps Outperform Rating on Applied Materials (AMAT)

Applied Materials, Inc. (NASDAQ:AMAT) is one of the 11 Best American Semiconductor Stocks to Invest In. On October 3, Bernstein reiterated its Outperform rating on Applied Materials, Inc. (NASDAQ:AMAT) and kept the price target at $195.

This decision came after Applied Materials, Inc. (NASDAQ:AMAT) said in a filing that a new US rule would hurt its financial performance. The rule makes it difficult to export some products and provide certain parts and services to select customers in China without getting a license.

The US has expanded its list of export restrictions to include majority-owned subsidiaries of listed companies. This rule aims to target firms in China and other countries that try to avoid US export limits by using affiliates.

Applied Materials, Inc. (NASDAQ:AMAT) expects an impact of about $110 million in its fiscal fourth quarter and forecasts a bigger hit of $600 million on its fiscal year 2026 results.

Despite this new challenge, Bernstein kept its Outperform rating on Applied Materials, Inc. (NASDAQ:AMAT).

Applied Materials, Inc. (NASDAQ:AMAT) is an American corporation that specializes in materials engineering solutions for the semiconductor and flat panel display industries.

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Disclosure: None. This article is originally published at Insider Monkey.