While the after-hours stock reaction following Applied Materials' Q2 earnings call appeared to focus on the July quarter outlook or management's comments that its display business could decline 15%-20% in 2019, Stifel analyst Patrick Ho said the quarter reinforced his view that Applied's diversification and broad-based semi exposure can help drive sustained growth. He believes any potential pullback in the stock after earnings represents a buying opportunity and reiterates his Buy rating while raising his price target on Applied Materials to $75 from $71.