Bank of America Just Gave Applied Materials Stock a New Street-High Price Target

Applied Materials (AMAT) has found itself in Wall Street's sweet spot after Bank of America Corporation turned even more bullish on the semiconductor industry's artificial intelligence (AI) driven future.

The investment firm now believes visibility into AI-related spending extends through 2028, prompting analysts led by Vivek Arya to lift their CY2027 wafer fab equipment forecast by 4% to $190 billion, representing 31% year-over-year (YOY) growth, up from the previous estimate of $183 billion and 27% growth.

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BAC also raised its CY2028 forecast by 23% to $250 billion, implying 32% YOY growth, compared with the earlier projection of $203 billion and 11% growth.

The firm attributed the upward revisions to greater cleanroom availability by CY2028, stro

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/bank-america-just-gave-applied-165835407.html)