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Fly News Breaks for August 17, 2018
AMAT
Aug 17, 2018 | 09:22 EDT
DA Davidson analyst Thomas Diffely kept his Buy rating and $70 price target on Applied Materials after its Q3 results, saying the last round of delays and stalled foundry projects have been incorporated in the company's disappointing outlook. Diffely adds that WFE spending will still exceed $100B in 2018-19 period, anticipating a slight recovery in Q4 and a "meaningful ramp" in 2019. The analyst also points to higher than expected ramp in Applied Materials' Services segment, which has now posted its 19th consecutive quarter of annual growth.
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