Analysts Are Trying To Badly Catch Up To Applied Materials, (AMAT) Says Jim Cramer

Core Viewpoint - Applied Materials, Inc. (NASDAQ:AMAT) is experiencing significant growth, with shares up 78% over the past year and 19% year-to-date, driven by increased capital expenditure in wafer equipment globally [2]. Company Performance - Applied Materials is one of the largest semiconductor manufacturing equipment providers in the world [2]. - The company has received upgrades from Mizuho and Deutsche Bank, with Mizuho raising the price target to $370 from $275 and Deutsche Bank increasing it to $390 from $275 [2]. Market Dynamics - Major chip manufacturers like Intel and TSMC are aggressively investing in expanding their contract manufacturing capabilities, which benefits Applied Materials [2]. - There is a perceived shortage in wafer equipment, indicating strong demand for Applied Materials' products [3]. Analyst Sentiment - Analysts are attempting to catch up with the positive outlook for Applied Materials, with recent upgrades seen as a capitulation to the company's strong performance [3]. - Despite some market fluctuations, the overall demand for Applied Materials' offerings remains robust [3].