Applied Materials Inc. Technical and Fundamental Aspects.Applied Materials, Inc. is an American corporation that supplies equipment, services and software for the manufacture of semiconductor (integrated circuit) chips for electronics, flat panel displays for computers, smartphones, televisions, and solar products.
The company also supplies equipment to produce coatings for flexible electronics, packaging and other applications.
U.S. chip stocks rise on Thursday, January 16th, after Taiwan Semiconductor Manufacturing Co NYSE:TSM , the world's largest contract chipmaker, reported record quarterly profit today.
In technical terms, Applied Materials stock was not among hyped and scorching-hot Trump-a-Rally assets in November, 2024.
However the most important thing is that in December, 2024 AMAT stocks has been supported by 100-week SMA and now is forming breakthrough of descending top/ flat bottom technical figure, trying to print the biggest over past twelve months 4-weeks upside swing.
In fundamental terms, Applied Materials NASDAQ:AMAT is presently being traded at a Forward P/E ratio of 22.12. This signifies a discount in comparison to the average Forward P/E of more than 25 for Semiconductors industry peers.
Another Semiconductors industry peers are being trading as follow - a Forward P/E ratio for Nvidia Corp NASDAQ:NVDA is presently 53.30; for Taiwan Semiconductor Manufacturing NYSE:TSM is 34.92; for Broadcom Inc NASDAQ:AVGO is 191.80; for Asml Holding NV NASDAQ:ASML is 40.08; and for Advanced Micro Devices Inc NASDAQ:AMD is 106.63.
The main technical graph for Applied Materials Inc. NASDAQ:AMAT indicates on a forming breakthrough of descending top/ flat bottom technical figure.
The nearest upside target is considered by our team as a 6-month highs near $ 215 a share, and the far target is considered as a Double Top technical figure around $ 250 a share, that can be achieved over next 6 months.
