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Fly News Breaks for October 5, 2015
AMAT
Oct 5, 2015 | 06:46 EDT
RBC Capital downgraded Applied Materials to Underperform and lowered its price target to $12 from $16. Analyst Mahesh Sanganeria expects CY16 capex to be down 13% year-over-year to $46B driven by DRAM and NAND capex declines, and flattish foundry investment. Sanganeria believes the WFE market is very sticky and unlikely to respond quickly due to process complexity.
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