Applied Materials gets neutral analyst reactions
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How To Top Categories Computers Home Entertainment Internet Phones Photography Security Tablets ForumsLog In to CNET Join Despite topping analyst estimates for its fourth quarter, Applied Materials (Nasdaq: AMAT) received lukewarm ratings from analysts. Shares of the chip equipment giant rose 0.63 to 43.38.
In the fourth quarter, Applied Materials earned $664 million, or 77 cents a share, on sales of $2.92 billion, topping analyst earnings estimates by a penny. Sales were up 81 percent from the year ago period, which saw the company earn $303 million, or 37 cents a share, on sales
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For the fiscal year, Applied Materials took in $2.05 billion, or $2.39 a share, on sales of $9.56 billion up from the $757 million, or 92 cents a share, earned on sales of $5.1
cheap Michael kors handbags outlet billion in fiscal 1999.
Analyst reaction was lukewarm.
Analyst M. Ali Irani at CIBC World Markets reiterated his "buy" rating.
Brett A. Hodess at Merrill Lynch reiterated near term "accumulate," and kept a long term rating of "buy." The target price was cut to
Cheap Michael Kors handbags $55 from $76 per share.
Wit SoundView analyst Michael O gave the company a "buy" rating, citing concerns over weakened demand. "As
Cheap Michael Kors handbags we look into the chip end markets (computers, communication and consumers), we see demand. less robust than we would have anticipated and inventory building up," O wrote in a report. While maintaining year over year growth in revenues and earnings of 31 percent, the analyst noted that he believes that a "substantial amount" of risk exists.
He reiterated his conviction that the fundamentals of Applied Material business
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