Is Applied Materials (AMAT) A Great Investment Choice?

Harding Loevner, an investment management firm, published its “Global Equity Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.31% was recorded by the fund for the third quarter of 2021, trailing its Benchmark, the MSCI World Index, which returned 0.09% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Harding Loevner Global Equity Fund, in its Q3 2021 investor letter, mentioned Applied Materials, Inc. (NASDAQ: AMAT) and discussed its stance on the firm. Applied Materials, Inc. is a Santa Clara, California-based manufacturing company with a $132.2 billion market capitalization. AMAT delivered a 68.98% return since the beginning of the year, while its 12-month returns are up by 64.15%. The stock closed at $145.83 per share on December 03, 2021.

Here is what Harding Loevner Global Equity Fund has to say about Applied Materials, Inc. in its Q3 2021 investor letter:

“To keep innovating, foundries like those operated by TSMC and Samsung rely on capital equipment made by ASML, a Dutch company that enjoys a near-monopoly in lithography, a specialized process that allows for an increase in the density of transistors and their connections on each silicon wafer. US-based Applied Materials, a new investment this quarter, makes the equipment that helps construct thinner, taller structures on the surface of the silicon.”

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Based on our calculations, Applied Materials, Inc. (NASDAQ: AMAT) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. AMAT was in 68 hedge fund portfolios at the end of the third quarter of 2021, compared to 73 funds in the previous quarter. Applied Materials, Inc. (NASDAQ: AMAT) delivered a 7.36% return in the past 3 months.

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