Bernstein Maintains a Buy Rating on Applied Materials (AMAT), Sets a $195 PT

Applied Materials, Inc. (NASDAQ:AMAT) is one of the best stocks to invest in for the long term. In a report released on August 15, Stacy Rasgon from Bernstein maintained a Buy rating on Applied Materials, Inc. (NASDAQ:AMAT) with a price target of $195.00.

Applied Materials, Inc. (AMAT) "Is About To Have A Renaissance," Says Jim Cramer

A technician in a clean room assembling a semiconductor chip using a microscope.

The rating update came after Applied Materials, Inc. (NASDAQ:AMAT) released its fiscal Q3 2025 results on August 14, reporting record revenue of $7.30 billion, up 8% year-over-year.

GAAP EPS for the quarter was $2.22, along with record non-GAAP EPS $2.48, reflecting a growth of 8% and 17% year-over-year, respectively.

Applied Materials, Inc. (NASDAQ:AMAT) also reported a GAAP gross margin of 48.8% and a non-GAAP gross margin of 48.9%.

Applied Materials, Inc. (NASDAQ:AMAT) provides manufacturing equipment, software, and services to the semiconductor and related industries. It operates through the Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets segments.

While we acknowledge the potential of AMAT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMAT and that has 100x upside potential, check out our report about this cheapest AI stock.

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