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Fly News Breaks for November 16, 2018
AMAT
Nov 16, 2018 | 09:41 EDT
RBC Capital analyst Mitch Steves lowered his price target on Applied Materials to $38 and kept his Sector Perform rating after its "notably" lower Q1 guidance. The analyst believes that the stock price will remain capped given that the management is still not calling a bottom in expected revenue slowdown while also warning about some potential share loss related to the adoption of extreme ultraviolet, or EUV, technology for chip making. With "no near-term product cycle until middle of 2019", Steves also lowers his FY19 EPS view to $3.57 from $4.31.
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