What To Expect From Applied Materials Earnings? Analyst Eyes China Dynamics
What To Expect From Applied Materials Earnings? Analyst Eyes China Dynamics
Stifel analyst Brian Chin reiterated the Buy rating on Applied Materials, Inc. (NASDAQ:AMAT), with a price forecast of $230.
Stifel分析師布萊恩·欽重申了應用材料公司（納斯達克股票代碼：AMAT）的買入評級，預測股價爲230美元。
The company will report the second quarter of fiscal 2024 financial results on Thursday, May 16, 2024.
該公司將於2024年5月16日星期四公佈2024財年第二季度的財務業績。
According to the analyst, non-China trailing-edge remains soft and that the timing on expansion in leading-edge foundry-logic and memory is more late FY24/FY25-oriented.
根據分析師的說法，非中國的後沿技術仍然疲軟，領先的晶圓代工廠邏輯和存儲器的擴張時機則以24/FY25財年晚些時候爲導向。
For now, the analyst sees revenue bias still toward China, technology, and conversion (DRAM HBM) activity.
目前，分析師認爲收入仍偏向中國、技術和轉換（DRAM HBM）活動。
More importantly, the analyst views capacity/growth-driven foundry/logic and DRAM investment plans for 2025.
更重要的是，分析師看到了2025年產能/增長驅動的代工廠/邏輯和DRAM投資計劃。
Per Chin, Applied Materials continues to have a better line of sight than most toward establishing higher revenue and profitability in the ensuing upcycle.
根據Chin的說法，應用材料在隨後的升級週期中實現更高的收入和盈利能力方面仍然比大多數人有更好的視野。
The analyst projects China DRAM (~$500 million in the second quarter) to phase-out of the mix in the third quarter, representing a headwind in Applied's outlook.
該分析師預計，中國DRAM（第二季度約爲5億美元）將在第三季度逐步淘汰該組合，這是應用前景的不利因素。
Over the balance of the year, China should remain a steadying factor and might cause Applied Materials to revisit its view.
在今年的剩餘時間裏，中國應保持穩定因素，並可能導致應用材料公司重新審視其觀點。
According to the analyst, Applied Materials has too many tentacles to be fully immune to a slowdown in aggregate semi investment.
根據分析師的說法，應用材料的觸角太多，無法完全不受半導體投資總額放緩的影響。
Yet by that token, the company possesses a better/broader arsenal of products (portfolio) through which to attack/address semi customers' future technology roadmap scaling/integration challenges.
然而，出於這個原因，該公司擁有更好/更廣泛的產品（產品組合），可以通過這些產品來攻擊/解決半客戶未來的技術路線圖擴展/集成挑戰。
Ultimately, the analyst sees Applied Materials on track to establish higher peak revenue/profitability through the ensuing upcycle. It warrants a higher multiple as it demonstrates improved financial performance across the cycle.
最終，分析師認爲，應用材料有望在隨後的升級週期中實現更高的峯值收入/盈利能力。它表明整個週期的財務業績有所改善，因此保證了更高的倍數。
Price Action: AMAT shares are trading higher by 3.36% to $216.87 at last check Wednesday.
價格走勢：週三最後一次檢查時，AMAT股價上漲3.36％，至216.87美元。
Image: Courtesy of Applied Materials, Inc.
圖片：由應用材料公司提供
譯文內容由第三人軟體翻譯。