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18. 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. Citi analyst Atif Malik recently lowered the price target on Applied Materials, Inc. (NASDAQ:AMAT) stock to $217 from $240 and kept a Buy rating on the shares.

The advisory updated its semiconductor equipment sector view and forecast that the equipment group was heading into a mid-cycle correction in the first half of 2025. While server artificial intelligence demand remained strong, consumer demand across PCs, smartphones, and auto appeared lackluster, analysts at the advisory told investors in a research note.

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