Don’t Miss Out: Jim Cramer’s 10 Key Stocks to Watch

7. Applied Materials Inc. (NASDAQ:AMAT)

Number of Hedge Fund Investors: 77

Jim Cramer mentioned that Citi has reduced its price targets for Applied Materials Inc. (NASDAQ:AMAT), a semiconductor equipment manufacturer that was once highly regarded.

“Citi also lowered its price targets on once-darling semiconductor equipment maker Applied Materials”

Applied Materials, Inc. (NASDAQ:AMAT) is driven by strong earnings, its leadership in semiconductor equipment, and high demand for advanced manufacturing technologies. In its latest quarterly report for Q3 2023, Applied Materials, Inc.(NASDAQ:AMAT) reported revenues of $6.43 billion, showing significant year-over-year growth due to increased demand for its semiconductor manufacturing equipment.

As a leading provider of equipment and software for semiconductor fabrication, Applied Materials, Inc. (NASDAQ:AMAT) is well-positioned to benefit from the industry’s growth, especially as manufacturers invest in advanced nodes and technologies. The ongoing global demand for semiconductors, driven by trends like AI, cloud computing, and 5G—supports a strong market for Applied Materials, Inc. (NASDAQ:AMAT)’s products, boosting its growth prospects.

Moreover, Applied Materials, Inc. (NASDAQ:AMAT)’s focus on research and development, along with its commitment to expanding offerings in materials engineering and sustainability, positions it to meet the changing needs of the semiconductor industry. Recent announcements about increasing capacity to meet market demand and advancements in its product portfolio further enhance a positive outlook for Applied Materials, Inc. (NASDAQ:AMAT) future growth.