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Applied Materials (AMAT) is among the handful of companies that are building the incredibly complex machines that allow foundries to turn bare silicon wafers into advanced processors. It has thus surged massively over the past few years and has a market capitalization close to half a trillion dollars as of this writing. Citi recently doubled down on AMAT stock, plus some competitors that are doing equally as well.
It's worth taking a closer look at these stocks since they are likely to keep surging. Chip demand has shown no sign of slowing down, and analysts are racing to bump price targets. If the rally continues, these AI-adjacent stocks may be the next category to cross the $1 trillion mark and beyond.
