Secular Growth Opportunity for Applied Materials in Semiconductor Market
Semiconductor Industry Revival in 2024
The semiconductor industry is forecasted to experience a turnaround in 2024, fueled by the demand for AI chips and growth in PC and smartphone markets. Deloitte predicts a 13% increase in industry revenue to $588 billion, driven by a 4% rise in PC and smartphone sales.
Increasing Demand for Semiconductor Equipment
The surge in demand for semiconductor equipment is expected to benefit companies like Applied Materials, as businesses and governments invest in boosting production capacities to address the chip shortage.
Secular Growth Opportunity for Applied Materials
Applied Materials is well-positioned to capitalize on the growing demand for chips, with major customers like Samsung, Taiwan Semiconductor Manufacturing, and Intel boosting its revenue. The company's strong financial outlook and potential for double-digit growth make it a lucrative investment option in the semiconductor market.
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