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Fly News Breaks for August 17, 2018
AMAT
Aug 17, 2018 | 07:26 EDT
Wells Fargo analyst Aaron Rakers lowered his estimates for Applied Materials following the company's Q3 report given its comments on incrementally weaker Foundry spending and its report that it expects NAND capital spending to be flat to modestly down year-over-year in 2018, which is a weaker view than it expressed last quarter. Rakers, who highlighted that Applied generates about 40% of its revenue from sources other than new semi equipment sales, keeps an Outperform rating on the stock but lowered his price target to $60 from $65.
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