Applied Materials Inc (AMAT): Is The Escalation In Services Growth A Major Growth Catalyst In 2024?

Applied Materials delivered a decent result and the management claims to have made a strong start to the current fiscal year, exceeding its earnings projections. Strengths identified include the company’s innovation strategy and position at key industry inflections, such as new-foundry logic and developments in its DRAM market where it has captured over 50% of market share. Revenue from its advanced packaging product portfolio is predicted to reach nearly $1.5 billion in 2024.