Key Takeaways Applied Materials will report earnings after the closing bell on Thursday. The majority of analysts covering the stock tracked by Visible Alpha hold a “buy” rating or equivalent. The company posted record-high sales in the previous quarter, fueled by booming demand for artificial intelligence.
Applied Materials (AMAT) is set to report its fiscal fourth-quarter earnings after the market close on Thursday, with analysts leaning bullish ahead of the results.
Of the 15 analysts covering the stock tracked by Visible Alpha, nine have issued “buy” or equivalent ratings, compared to six “hold” ratings. The consensus target price is $226.79, which is more than 21% from Tuesday’s closing price of $186.58.
Wall Street expects the semiconductor equipment maker to report revenue of $6.96 billion, up more than 3% year over year, and net income of $1.78 billion, or $2.14 per share, down from $2 billion, or $2.38 per share, a year earlier.
A quarter ago, Applied Materials posted record sales of $6.78 billion, fueled by an artificial intelligence boom.
Applied Materials shares fell 1% on Tuesday. They have added more than 15% since the beginning of the year.
