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Fly News Breaks for November 21, 2019
AMAT
Nov 21, 2019 | 05:16 EDT
UBS analyst Timothy Arcuri downgraded Applied Materials to Sell from Neutral with a price target of $48, down from $49. The analyst sees headwinds for the company into the first half of 2020 as wafer fab equipment spending peaks in the near term and contracts for a few quarters. Applied Materials has estimate risk moving though 2020 "given a very extended run-rate in foundry/logic," Arcuri tells investors in a research note.
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