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Fly News Breaks for May 10, 2019
LRCX, OLED, AMAT, ENTG
May 10, 2019 | 07:41 EDT
Citi analyst Atif Malik downgraded both Entegris (ENTG) and Universal Display (OLED) to Neutral from Buy. The analyst expects consumable stocks tied to overall wafer or display starts to "slow down" in the second half of 2019. His top picks in Semiconductor Capital Equipment remain Lam Research (LRCX) and Applied Materials (AMAT), which he notes have high exposure to the memory end market. Assuming no recession, Malik believes the group bottomed in Q1 as year-over-year memory supply growth peaked.