(AMAT) Applied Materials Incorporated – Bull of the Day
Applied Materials (AMAT) is one of the world’s largest suppliers of fabrication equipment to semiconductor, LCD and solar PV cell manufacturers. Applied’s leading market position, strength in China, improving trends across all served end markets, innovative R&D capabilities, management execution and solid financials makes us optimistic about the stock.
Although the solar business remains a drag on results, the situation may turn around in 2010. The nature of the company’s business necessitates a huge cost structure and customer concentration, which should not be a problem in the current market environment.
Consequently, we are initiating coverage of AMAT shares with an Outperform rating.
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