Challenging Wafer Fab Equipment Environment Doesn't Hinder Our Positive View of Applied Materials
Applied Materials reported fiscal first-quarter results consistent with expectations while painting a dreary picture for 2019, as memory investments will be considerably lower during the year. With spending skewed to logic and foundry investments (particularly with extreme ultraviolet lithography accounting for a larger portion of equipment spending), Applied’s share of wafer fab equipment is set to be lower in 2019. Our fair value estimate of $49 per share incorporates our view that the wide-mo...Applied Materials provides manufacturing equipment, services and software to the semiconductor, display and related industries. The company's segments are: Semiconductor Systems, which develops, manufactures and sells a range of manufacturing equipment used to fabricate semiconductor chips; Applied Global Services, which provides integrated solutions to support equipment and fab performance and productivity; and Display and Adjacent Markets, which is comprised of products for manufacturing liquid crystal displays, organic light-emitting diodes and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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