Citi analyst Atif Malik lowered the firm’s price target on Applied Materials to $217 from $240 and keeps a Buy rating on the shares. The firm updated its semiconductor equipment sector view and believes the equipment group is heading into a mid-cycle correction in the first half of 2025. While server artificial intelligence demand remains strong, consumer demand across PCs, smartphones, and auto “appears lackluster,” analyst tells investors in a research note. Citi cut estimates and, accordingly, lowered price target by 10%.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMAT:
- Applied Materials Announces Cash Dividend
- Applied Materials price target lowered to $210 from $220 at UBS
- Applied Materials to Participate in Upcoming Investor Conferences
- Applied Materials Stock (NASDAQ:AMAT): The Outlook Is in Line, Everything Is Fine
- Applied Materials, H&R Block report quarterly beats: Morning Buzz
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue