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Fly News Breaks for November 15, 2019
AMAT
Nov 15, 2019 | 08:08 EDT
Needham analyst N. Quinn Bolton raised his price target on Applied Materials to $65 and kept his Buy rating after its Q4 results came in "near the high end" of prior guidance and with its Q1 growth outlook of 9.2% sequentially vs. his 1% forecast. The analyst attributes the upside in the company's guidance to record level in foundry revenue, even though the company's gross margins are under pressure and tracking below historical levels "due to customer mix, a higher proportion of service, and increased contribution from specialty nodes."
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