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HomeBusinessApplied Materials Review by Berenberg Bank

Applied Materials Review by Berenberg Bank


Berenberg Bank analysts provided their views on Applied Materials, Inc. (NASDAQ:AMAT), maintaining their buy rating and $205 price target, and noting that the gradual easing of the ongoing supply chain and logistics disruption will help lift investor sentiment.
According to the analysts, the company has the widest range of products of the semi equipment players, and therefore tracks the cycle closely. Investors are concerned and expect a downturn, but the analysts believe that the supply chain challenges are delaying it.
The analysts think that all of the semi equipment companies have a large backlog due to be shipped over the coming year and do not believe the technology shrinkage roadmap will have to be paused, as leading-edge-chip demand remains high and the utilization rate of leading-edge capacity remains tight.
The analysts expect legacy-edge node investment to continue because of underinvestment over the past few years, while both Europe and China are building up their local semi-manufacturing facility.

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