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What Are Wall Street Analysts Thinking About Applied Materials Stocks Ahead of Earnings?

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What Are Wall Street Analysts Thinking About Applied Materials Stocks Ahead of Earnings?

Key Takeaways

  • Applied Materials will report earnings after the closing bell on Thursday.
  • The majority of analysts covering stocks tracked by Visible Alpha have a “buy” or equivalent rating.
  • The company recorded record sales in the previous quarter, driven by increasing demand for artificial intelligence.

Applied Materials (AMAT) will report fiscal fourth-quarter earnings after market close on Thursday, and analysts are bullish ahead of the results.

Of the 15 analysts covering the stocks tracked by Visible Alpha, nine gave a “buy” or equivalent rating, while six gave a “hold” rating. The consensus price target is $226.79, a premium of over 21% over Tuesday’s closing price of $186.58.

Wall Street’s expectation semiconductor The equipment maker will report revenue of $6.96 billion, up more than 3% from the prior year, and net income of $1.78 billion, or $2.14 per share, compared to $2 billion, or $2.38 per share, a year earlier. .

A quarter ago, Applied Materials achieved record sales of $6.78 billion. artificial intelligence (AI) boom.

Shares of Applied Materials fell 1% on Tuesday. They are up more than 15% since the beginning of the year.

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