Applied Materials Rallies 5.68% on Strategic Sector Position and Analyst Boost
1min read On September 19, Applied Materials (AMAT) surged by 5.68% in the market, following recent analyses and ratings updates from financial experts.
Earlier, on September 17, a major financial services company maintained its rating for Applied Materials at "equal-weight," with a revised target price set at $185.00. This comes as an acknowledgment of the company's steady financial performance and its strategic position in the semiconductor sector.
Applied Materials, which released its Q3 2024 earnings on August 22, reported revenue of $20.131 billion and net profits totaling $5.446 billion. The earnings per share stood at $6.57, reflecting strong financial health and the company's capability to navigate the fluctuating demands of the market.
Founded in 1967 and incorporated in Delaware, Applied Materials has established itself as a global leader in materials engineering. The company specializes in providing equipment, services, and software pivotal for the manufacturing processes in the semiconductor, display, and related industries. With its diverse technological offerings, Applied Materials enhances equipment performance, yields, and cost-efficiency, making it an essential partner for manufacturers of semiconductors, liquid crystal, and OLED displays among other electronic devices.
Operating through three main segments—Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets—the company serves clients who apply its products in their own devices or sell them onward, contributing to advanced electronic components used globally.