AMAT Stock: $170 Target (Up From $142) By Craig-Hallum

By Amit Chowdhry ● April 11, 2021
  • The shares of Applied Materials, Inc. (NASDAQ: AMAT) have received a price target increase from $142 to $170 by Craig-Hallum. These are the details.

The shares of Applied Materials, Inc. (NASDAQ: AMAT) have received a price target increase from $142 to $170 by Craig-Hallum. Craig-Hallum analyst Christian Schwab is maintaining a Buy rating on the shares following the company’s analyst day. 

Schwab pointed out that Applied Materials is expecting the 2021 and 2022 wafer front end (WFE) to be somewhere between $150 billion and $160 billion. And the expectations for the 2021 WFE will likely be higher than $70 billion. 

Plus Schwab noted that the next wave of demand is just starting and it is expected to be less cyclical as it is going to be driven by secular trends that management believes are permanent like artificial intelligence and big data.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.