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UBS: Time to Buy Applied Materials, Apple Could Drive Near-Term Upside

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Expressing increased confidence in an EPS upside for Applied Materials, Inc. AMAT 2.17%, UBS’ Stephen Chin mentioned that OLED equipment sales, foundry capex, higher opex leverage and high exposure to China’s semis capex could drive P/E multiple expansion for the stock

The analyst upgraded the rating on Applied Materials from Neutral to Buy, while raising the price target from $21 to $27.

OLED Upside

Chin expressed optimism regarding the company’s...