Susquehanna analyst Mehdi Hosseini last night upgraded Applied Materials (AMAT) to Positive from Neutral with a price target of $400, up from $180. Recent channel checks checks suggest the semiconductor capital equipment industry is preparing for $120B wafter fab equipment spending, the analyst tells investors in a research note. Susquehanna says that with lobal semi revenues trending to over $1 trillion, the wafer fab equipment supply chain must prepare for spending well above $150B. It believes WFE fundamental trends “remain strong” and upgraded both Advanced Energy and Applied Materials to Positive.
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