Information Provided By:
Fly News Breaks for August 12, 2019
Aug 12, 2019 | 08:50 EDT
In a preview of Applied Materials' (AMAT) July-end quarterly report, Stifel analyst Patrick Ho said he expects the company to meet his $3.52B and 69c revenue and pro-forma EPS estimates and sees the company reiterating some of the same commentary on the current environment that has been made recently by other industry players. However, he continues to believe Applied is well positioned to outperform in 2020, citing its favorable position in TSMC (TSM), which he calls "the leading-edge foundry," as well as an expected recovery in NAND spending and the beginnings of a recovery in display spending. Ho keeps a Buy rating and $57 price target on Applied Materials shares.