Morgan Stanley Lowers Price Target for Applied Materials
Morgan Stanley has reduced its price target for Applied Materials (AMAT) from $642 to $563, reflecting a downward revision of nearly $80. Despite this cut, the firm raised its revenue forecast for the company in 2027 to $50.7 billion. Applied Materials' stock was down by 1.3% before Monday's market open following the downgrade. The adjustment highlights concerns about near-term performance or valuation despite long-term optimism regarding future revenues. The move underscores a cautious stance from one of the major brokerages, which could influence investor sentiment and trading behavior in the semiconductor equipment sector.
