{"id":11196,"date":"2023-05-19T23:04:33","date_gmt":"2023-05-20T03:04:33","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/applied-materials-stock-has-had-a-nice-run-an-analyst-just-issued-a-warning\/"},"modified":"2023-05-19T23:04:34","modified_gmt":"2023-05-20T03:04:34","slug":"applied-materials-stock-has-had-a-nice-run-an-analyst-just-issued-a-warning","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=11196","title":{"rendered":"Applied Materials Stock Has Had a Nice Run. An Analyst Just Issued a Warning."},"content":{"rendered":"
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<\/p>\n
<\/div>\n<\/figure><\/div>\n

Semiconductor equipment maker
\n Applied Materials
\n doesn\u2019t have much more room to rise after a strong run this year, acoording to analysts at KeyBanc.<\/p>\n

In a bull case scenario that assumes further increases in chip demand, Applied Materials (ticker: AMAT) shares may climb as high as $138 from the current level of about $130, strategists led by Steve Barger wrote in a note. In a bear case, shares could drop to $85, where they were around November of last year.<\/p>\n

\n

\u201cShares of AMAT and peers have enjoyed robust price appreciation this year while timing expectations for recovery have been pushed out,\u201d KeyBanc said. \u201cInvestors may have discounted a stronger recovery than we are likely to see in the near term, which could increase risk for new money as shares have little underlying valuation support.\u201d<\/p>\n

Chip makers and technology companies more generally have had a reasonably good year after experiencing sharp declines in 2022. The gains came even as the Federal Reserve continues to raise interest rates and China recovers more slowly than hoped from Covid-19 lockdowns.<\/p>\n

KeyBanc has a Sector Weight rating on the stock.<\/p>\n

By contrast, analysts at
\n Citi
\n raised their price target on the stock to $160 from $136 after Thursday\u2019s results, and maintained a Buy rating on the shares.<\/p>\n

Applied Materials fell on Friday 1.4% in premarket trading even though the company beat earnings estimates but said the market remains difficult. Over the past 12 months, Applied Materials stock has risen 22%, compared with a rally of just more than 10% for the iShares Semiconductor (SOXX) exchange-traded fund, which tracks the performance of the ICE Semiconductor index.<\/p>\n

The chip equipment company\u2019s key customers include
\n Intel
\n (INTC) which rose 0.5% and
\n Taiwan Semiconductor Manufacturing
\n (TSM) down 0.2% (TSM).
\n Nvidia
\n (NVDA) rose 0.5%. <\/p>\n

Analysts at Semiconductor Advisors LLC said they \u201chave little to no motivation to own the stock.\u201d<\/p>\n

\u201cWe currently expect memory weakness through the end of the year,\u201d they wrote in a note Thursday. \u201cMemory makers continue to see the worst downturn in well over a decade and have slowed their equipment purchases to near zero levels.\u201d<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Semiconductor equipment maker Applied Materials doesn\u2019t have much more room to rise after a strong run this year, acoording to analysts at KeyBanc. In a bull case scenario that assumes further increases in chip demand, Applied Materials (ticker: AMAT) shares may climb as high as $138 from the current level of about $130, strategists led […]<\/p>\n","protected":false},"author":1,"featured_media":11197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-11196","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nApplied Materials Stock Has Had a Nice Run. 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