Applied Materials Trading Volume Ranks 54th Amid 4-Day Stock Decline

On March 28, 2025, Applied Materials (AMAT) experienced a trading volume of $1.124 billion, ranking 54th in the day's stock market activity. The stock price decreased by 1.77%, marking the fourth consecutive day of decline, with a total drop of 6.38% over the past four days.

Jefferies has upgraded Applied Materials to a Buy rating, citing the company's strategic positioning to benefit from increased spending on leading-edge and DRAM technologies. The firm noted that Applied Materials' March guidance indicates the lowest exposure to China among its peers, which is a positive factor given the current market dynamics.

Jefferies also highlighted that the firm's 2025 wafer fabrication equipment (WFE) forecast has been raised to $105 billion, up from $103 billion. This adjustment reflects stronger DRAM and TSMC capex, which offset weakening outlooks for Intel and Samsung. The firm expects DRAM spending to remain robust, driven by high-bandwidth memory and DRAM demand for high-performance computing.

Jefferies' upgrade for Applied Materials comes amid shifting trends in semiconductor spending and evolving dynamics in China. The firm warned that while the 2025 WFE estimate is now $105 billion, street estimates still imply $117 billion, suggesting potential downward revisions if market conditions do not improve. China's share of WFE spending, which was 32% in Q4, is expected to return to a more sustainable 15-20% over time, posing a potential headwind for the industry.