Financial Performance And Analyst OutlookAnalyst reiterates a Buy rating on AMAT and increases the 12-month price target to $220, reflecting a potential upside, as the company's non-GAAP gross margin exceeded company guidance, highlighting efficient cost management and profitability.
Market Leadership And GrowthAMAT reinforces its leadership position for materials-based engineering within the Wafer Fabrication Equipment market and estimates a significant year-over-year growth in its materials engineering market share.
Product Demand And InnovationData center wafer demand is expected to surpass PCs and eventually smartphones, indicating a strong future demand for AMAT's products, complemented by the introduction of new etch and deposition patterning solutions.