What Wall Street Analysts Think of Applied Materials’ Stock Ahead of Earnings | Global News Avenue

Applied Materials Corporation (huge) will report fourth-quarter earnings after the close on Thursday, and analysts are leaning bullish ahead of the results.

Of the 15 analysts tracked by Visible Alpha, nine have a “buy” or equivalent rating, while six have a “hold” rating. The consensus price target is $226.79, a premium of more than 21% to Tuesday’s closing price of $186.58.

Wall Street expects semiconductor The equipment maker reported revenue of $6.96 billion, up more than 3% year over year, and net income of $1.78 billion, or $2.14 per share, down from $2 billion, or $2.38 per share, in the same period last year.

A quarter ago, Applied Materials’ sales hit an all-time high of $6.78 billion Artificial Intelligence (AI) Prosperity.

Applied Materials shares edged down 1% on Tuesday. Since the beginning of this year, they have increased by more than 15%.