As previously reported, Craig-Hallum downgraded Applied Materials (AMAT) to Hold from Buy with a $190 price target The firm notes management expects 2026 to be a similar business environment to last year. They also expect the WFE market to grow in calendar year 2026 and to grow faster driven by market share gains and a favorable business mix. Unfortunately, growth is expected to be second half of the year weighted, which means the next three quarters should remain relatively consistent at current levels, Craig-Hallum adds. The firm believes investors will get a better buying opportunity over the next few quarters as industry spending increase is multiple quarters away.
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Read More on AMAT:
- Applied Materials downgraded to Hold from Buy at Craig-Hallum
- Applied Materials price target raised to $250 from $195 at Bernstein
- Applied Materials price target raised to $260 from $220 at JPMorgan
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