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Barchart
Faisal Humayun Khan

Applied Materials: The Picks-and-Shovels Play in an AI Era Will Continue to Trend Higher

Applied Materials AMAT Semiconductor Stifel

Applied Materials (AMAT) stock has surged by nearly 190% in the last 52-weeks. The picks and shovels play in the AI revolution has continued to benefit and growth can potentially accelerate in the coming years.

According to Stifel, semiconductor equipment manufacturers like Applied Materials, KLA-Tenor (KLAC), and Lam Research (LRCX), are positioned to benefit from a “prolonged demand cycle in the industry.” Stifle has a “Buy” rating for AMAT stock with a price target of $650.

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