Morgan Stanley Raises the PT on Applied Materials (AMAT), Keeps an Equal Weight Rating
The analyst noted that he raised the price target, taking confidence from a strong July quarter, which was slightly better than the firm's and broader market's expectations. This was driven by a stronger-than-expected performance in China. However, despite this, the company's guidance for the October quarter fell short of Morgan Stanley's forecast by around $500 million, thereby justifying a cautious rating. Brett also noted that the guidance miss is mainly due to the challenges in leading-edge logic chips and DRAM.
A technician in a clean room assembling a semiconductor chip using a microscope.
Applied Materials, Inc. (NASDAQ:AMAT) expects fiscal third-quarter revenue of around $7.2 billion, with gross margins at 48.3%.
Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for manufacturing semiconductor chips and advanced displays.
While we acknowledge the potential of AMAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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