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Fly News Breaks for May 24, 2018
AMAT
May 24, 2018 | 07:20 EDT
Citi analyst Atif Malik added Applied Materials to his firm's Focus List saying the stock is a the "big winner" on the majority of his "Megatrends 2020." The analyst expects equipment spending to hit record highs in the $60B range through 2020 on multiple device architecture and manufacturing transformations. Artificial intelligence and the Internet of Things are the two overarching drivers, Malik tells investors in a research note. He believes the pullback in Applied Materials shares post-earnings on weak 2019 display sales outlook driven by a pause in OLED smartphone demand is a buying opportunity.
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