Forecast Of The Day: Applied Materials Global Services Revenue
What?
Revenue for Applied Materials (NYSE:AMAT) Global Services – which provides integrated solutions to optimize equipment and fab performance – rose from $3.65 billion in 2019 to $5 billion in 2021. Trefis expects the metric to grow to about $6.8 billion by 2024.
Why?
- Rallying 30% YTD, What’s Spurring The Rally In Applied Materials’ Stock?
- Up 35% This Year, How Will Applied Materials Stock Trend Following Q4 Results?
- Up 50% This Year, Will Applied Materials Stock Continue To Outperform?
- What To Expect As Applied Materials Reports Q3 Earnings?
- What’s Happening With Applied Materials Stock?
- What To Expect From Applied Materials Q2 Results?
We expected growth to be driven by higher semiconductor capital spending and an increasing focus on improving the overall utilization and reducing the total cost of ownership.
So What?
We remain positive on AMAT stock with a $124 price estimate, which is about 17% ahead of the current market price.
| Returns | Nov 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
| AMAT Return | 20% | -33% | 228% |
| S&P 500 Return | 4% | -16% | 80% |
| Trefis Multi-Strategy Portfolio | 4% | -19% | 221% |
[1] Month-to-date and year-to-date as of 11/27/2022
[2] Cumulative total returns since the end of 2016