Applied Materials is likely to give a light revenue forecast when the chip-equipment maker reports fiscal-first-quarter earnings after the market close.
Wall Street expects
) to report January quarter revenue of $6.7 billion with adjusted earnings per share of $1.93. Analysts’ estimates for the current fiscal-second quarter is for earnings per share of $1.76 on revenue of $6.3. billion.
In Thursday trading, Applied Material shares were down 1.7% to $117.48. The company’s key customers include
Taiwan Semiconductor Manufacturing
Early this week, Stifel analyst Brian Chin reaffirmed his Buy rating on Applied Materials stock, and $132 price target. He is optimistic about the company’s long-term product leadership and market position, but is concerned it may miss Wall Street revenue expectations for both the April quarter and July quarter.
“Applied has too many tentacles to be immune as aggregate semi [industry] investment eventually weakens,” he wrote.
Over the past 12 months, Applied Materials stock has fallen 17%, compared to the 13% drop for the
(SOXX) exchange-traded fund, which tracks the performance of the ICE Semiconductor Index.
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