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Fly News Breaks for August 17, 2018
AMAT
Aug 17, 2018 | 09:18 EDT
Needham analyst Y. Edwin Mok states that the commentary by Applied Materials about a weaker foundry spending environment, on top of the expected memory pushouts, were surprising in the company's otherwise strong Q3 earnings report. Mok is keeping his Strong Buy rating on Applied Materials however, adding that he had anticipated this potential headwind and still believes that the industry fundamentals are healthy and long-term drivers still intact amid a temporary downturn.
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