77spinscasino| JPMorgan Chase: Raise its target price for applied materials to US$240 and is expected to outperform the WFE market in the next few years

JPMorgan Chase releases report77spinscasino, which refers to Applied Materials 'solid results for the fiscal quarter ending at the end of April, supported by continued strength in the ICAPS business unit (Internet of Things, Communications, Automotive, Power and Sensors) and DRAM business, growth in emerging areas of advanced packaging, and continued strength in the services business. Looking forward to the current fiscal quarter ending at the end of July, benefiting from increased front-edge wafer manufacturing, logic expenses, initial investment in major technology innovations, advanced DRAM and HBM expenses, and continued shipments of the ICAPS business unit, the company's revenue, gross margin and earnings per share forecasts were higher than market expectations, but were partially offset by slowing spending in the Chinese market.

The report predicts that the momentum of the current fiscal quarter ending at the end of July will expand into the second half of this year and continue into 2025. Overall, the report predicts that the company is in a favorable position for many technological innovations in the future and is expected to continue to outperform the semiconductor fab equipment (WFE) market in the next few years. The target price has been raised from US$230 to US$240, and the rating is "overweight".