Report
Abhinav Davuluri
EUR 101.80 For Business Accounts Only

We expect Applied Materials to exhibit impressive growth in 2017, yet shares remain overvalued.

Applied Materials reported stellar fiscal first-quarter results, while providing an even better outlook for next quarter, as the firm benefits from strength across all its business segments. Consistent with commentary from peers, Applied Materials' silicon systems orders were bolstered by foundry demand related to the ongoing 10-nanometer process build-out and continued 3D NAND equipment purchases. We expect wafer fabrication equipment spending to be up roughly 5% in 2017 based on the roadmaps o...
Underlying
Applied Materials Inc.

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Abhinav Davuluri

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