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Can Applied Materials' Stock Price Rise Even After Blockbuster Returns?

Semicon West, the largest trade show for semiconductor capital equipment, kicked off this week. Semiconductor equipment companies are hawking their wares. Buyers are expected to spend as much as $37 billion on new equipment this year.

Despite a 37% year-to-date jump, semiconductor manufacturer Applied Materials (AMAT) may have room to move higher. Applied Materials is poised to take nearly half that spending on semiconductor equipment. With a 45% gross margin, the company could earn over $2.50 per share in 2018, up from $1.19 in 2015.