"Wells Fargo was impressed with the company's guidance, especially given the rising expectations from its peers. "While not providing a C2026 [wafer fab equipment estimates], AMAT expects its semi systems rev to grow >20% y/y-well ahead of prior Street est at +11% y/y," as noted by Seeking Alpha. The firm has an overweight rating with a $435 price target."
"Bank of America said it is now the "time to shine" for Applied Materials. The firm has a buy rating with a price target of $420. JPMorgan reiterated its overweight rating on AMAT, noting that AMAT's growth potential remains strong."
"The firm says RIVN is showing signs of a "de-risked" outlook thanks to volume expectations and improving vehicle costs. Plus, the firm says Rivian's R2 launch appears to be on track for Q2."
"The company delivered its first full year of positive gross profit and improved per-unit economics, while maintaining a robust liquidity po"
Applied Materials reported EPS of $2.38, beating estimates by $0.17, and revenue of $7.01 billion, down 2.2% year over year but $130 million above expectations. The company provided revenue guidance of $7.15 billion to $8.15 billion and adjusted EPS guidance of $2.44 to $2.84, both above street forecasts. Analysts responded with bullish notes and higher price targets, including overweight and buy ratings. Rivian posted an EPS loss of $0.66 that beat estimates and revenue of $1.29 billion that beat expectations despite a year-over-year decline. Deutsche Bank upgraded Rivian to buy, citing a "de-risked" outlook, improving vehicle costs, and an on-track R2 launch expected to drive 2026 growth.
Read at 24/7 Wall St.
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