20 Trending AI Stocks on Latest Analyst Ratings and News

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14. 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. The company, one of the most prominent in the chip space, has historically performed better than peers in terms of financials. Over the past decade, the revenue of the company has increased by nearly 350%. Consensus revenue estimates suggest continued growth for this metric, with revenue projected to increase from around $27 billion in fiscal 2024 to over $37 billion in fiscal 2028. There is plenty of potential for further acceleration due to the AI revolution.

Gary Dickerson, the chief of Applied Materials, Inc. (NASDAQ:AMAT), spoke at the Goldman Sachs 2024 Communacopia and Technology Conference earlier this month, noting that the whole industry was focused on energy efficient computing as the biggest global inflections ever were driving the semiconductor growth, like AI, IoT, Industrial Automation, Robotics, EVs, Autonomous Vehicles, and Renewable Energy. Per Dickerson, these were all just really big multi-trillion dollar inflections.

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