Glonghui, May 20 | Citigroup released a report indicating that Applied Materials (AMAT.US) earnings per share for the second fiscal quarter ended at the end of April were 9% higher than expected, and its earnings per share guide for the third fiscal quarter ending the end of July was also 6% higher than market forecasts. The company's overall terminal market review is the same as that of its peers. Its confidence in rising demand for gate full loop (GAA) logic transistors gradually increased in the second half of the year. Total sales are expected to exceed 2.5 billion US dollars this year, which is expected to double next year. The company expects advanced packaging and high-bandwidth memory (HBM) sales this year to be US$1.7 billion and over US$600 million respectively. By the end of the year, sales growth in the Chinese market is expected to be normalized to about 30%, and the normalized gross margin is expected to be 47%. The stock market will raise the forecast for Applied Materials 2025. It is expected that SEMICONWEST 2024 will be the Group's next major catalyst. The bank slightly adjusted its earnings estimates per share for 2024 (1% reduction) and 2025 (1% increase). The target price was raised from $211 to $250, rated for purchase.