pokerbettingstrategy| Big Bank Rating 丨 Citi: Raise application materials target price to US$250 rating Buy

Citigroup releases reportpokerbettingstrategy, refers to the application material (AMATpokerbettingstrategy.US) Earnings per share for the fiscal quarter ending April was 9% higher than expectations, and its third-quarter earnings per share guidance for the fiscal quarter ending July was also 6% higher than market forecasts. The company's overall terminal market comments are the same as those of its peers. Its confidence in rising demand for gate all-ring (GAA) logic transistors in the second half of the year is gradually increasing. Total sales this year are expected to exceed US$2.5 billion and are expected to double next year. The company expects advanced packaging and high-frequency bandwidth memory (HBM) sales this year to exceed US$1.7 billion and US$600 million respectively. By the end of the year, sales growth in the Chinese market is expected to be normalized to approximately 30%, and the normalized gross profit margin is expected to be 47%. The bank expects that the market will raise its forecast for Applied Materials in 2025. It is expected that SEMICONWEST2024 will be the next major catalyst for the group. The bank will slightly adjust its earnings per share forecast for 2024 (down 1%) and 2025 (up 1%), with the target price rising from US$211 to US$250, with a buy rating.

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