Citi Reiterates Buy on Applied Materials, $710 PT
Citi analyst Atif Malik reiterated a Buy rating and a $710 price target on Applied Materials (NASDAQ: AMAT), following a meeting with the company’s CFO Brice Hill at the Citi Global TMT conference.
“Key takeaways from the meeting included management’s confidence in continued growth, supported by rising 8-quarter forecasts from its largest DRAM and leading-edge logic customers.
Applied Materials’ fab tracker includes more than 100 projects globally, with more than 10 new fabs added in each of the last two quarters.
Advanced packaging revenue was approximately $1.4 billion last year and is expected to grow more than 70% in calendar year 2026.
The company is investing in panel-level packaging across lithography, e-beam inspection, and fine-line interconnects, though that segment remains in development rather than volume production.”
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