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![wallstengine Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1508426880860704771.png) Wall St Engine [@wallstengine](/creator/twitter/wallstengine) on x 72.4K followers
Created: 2025-07-07 08:03:37 UTC

Redburn-Atlantic Downgrades $AMAT to Neutral from Buy, Lowers PT to $XXX from $XXX

Analyst comments: "We downgrade AMAT to Neutral, for several reasons: (a) our analysis concludes that its largest profit contributor, PVD, is losing share to rivals, particularly Naura (Not Rated) in China; (b) beyond PVD, we are concerned that AMAT’s product portfolio is more vulnerable to China localisation than peers; (c) we conclude that while AMAT’s product portfolio has elements that are well placed for the vertical scaling era, the ‘tail’ acts as a drag – AMAT will likely struggle to match peer growth rates at the 2nm node; and (d) finally, Internet of Things, Communications, Automotive, Power and Sensors (ICAPS) applications are mature node markets where AMAT is strong and earns accretive margins. Demand here is weak, burdened by stubborn overcapacity."

Analyst: Timm Schulze-Melander


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1942132380707492183/c:line.svg)

**Related Topics**
[china](/topic/china)
[rating agency](/topic/rating-agency)
[$amat](/topic/$amat)
[stocks technology](/topic/stocks-technology)

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