Forecast Of The Day: Applied Materials Global Services Revenue

+10.21%
Upside
113
Market
124
Trefis
AMAT: Applied Materials logo
AMAT
Applied Materials

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?

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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.

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

 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

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