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US Semis Sector Rides Rising Tide of AI to Reach Record Valuations: Bernstein
Wells Fargo Maintains Applied Materials(AMAT.US) With Buy Rating, Maintains Target Price $280
Wells Fargo analyst Joseph Quatrochi maintains $Applied Materials(AMAT.US)$ with a buy rating, and maintains the target price at $280.According to TipRanks data, the analyst has a success rate of 75.3
New Buy Rating for Applied Materials (AMAT), the Technology Giant
US stocks closed lower on the last day of June with all three major indexes down. The AI-driven Nasdaq rose 18% in the first half of the year, while Nvidia soared 149%.
After hitting a new high, the S&P and Dow fell together, possibly due to Goldman Sachs and JPMorgan bearish on US stocks. Amazon, Google, and Microsoft fell from their recent highs, while most chip stocks rose. However, Nvidia rose 3% before falling 0.4% as the AI hype drove the Nasdaq up 18% and the S&P up 14.5% in the first half of the year.
U.S. stocks closed with a thrilling increase in all three indexes, with most technology stocks rising. Amazon rose more than 2%, once again reaching a historic new high.
S&P 500 rose 0.09%, Dow Jones rose 0.09%, and Nasdaq rose 0.3%; chip stocks continued to decline, with Nvidia falling nearly 2%; Chinese concept stocks weakened, with Xiaopeng falling nearly 7% and JD.com falling more than 4%.
Applied Materials (AMAT) Outpaces Stock Market Gains: What You Should Know