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00:02Applied Materials could see semiconductor systems revenue grow about 40% this year
00:07as AI-driven chip investment strengthens, according to J.P. Morgan.
00:11Analyst Harlan Sur maintained an overweight rating and $660 price forecast
00:16after meeting with company investor relations chief Mike Sullivan.
00:20Sullivan said demand has improved over the past three weeks,
00:23though limited customer cleanroom space could restrict further upside.
00:27Applied Materials plans to expand manufacturing capacity
00:30to support up to twice its recent systems output by 2028.
00:34The company has more than eight quarters of visibility through backlog and customer forecasts.
00:39AI-related markets are driving about 80% of wafer fabrication equipment growth this year,
00:44with a similar mix expected in 2027.
00:46Shares were down 0.67% at $492.85 at the time of publication on Thursday,
00:53according to Benzinga Prodata.
00:54For all things money, visit Benzinga.com.
