20 AI News That Broke The Internet This Month

Page 5 of 19

15.  Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 77

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. Gary Dickerson, the chief of Applied Materials, spoke at the Goldman Sachs 2024 Communacopia and Technology Conference earlier this month, predicting that data centers would pass PCs and smartphones in wafer starts over the next few years. Investment advisory Stifel has a similarly bullish outlook on wafers. The advisory recently reiterated a Buy rating on Applied Materials, Inc. (NASDAQ:AMAT) stock with a price target of $270. In an investor note, the advisory noted that the Q3 results and outlook of the firm modestly exceeded consensus estimates, reflecting gradual growth in system and service revenue. The note further stated that the firm was well-positioned to grow at/above the industry in 2025 as the China exposure had been derisked.

Page 5 of 19