Applied Materials Stock Has 19% Upside, According to 1 Wall Street Analyst

Share prices of Applied Materials (AMAT 0.72%) have already rocketed 73% over the last 12 months, and yet analysts at Bernstein still see another 19% upside potential in the next 12 months. Earlier this week, the wealth management firm maintained its outperform (buy) rating while raising the price target from $230 to $240. The stock currently trades at around $202 a share. Why is Applied Materials' stock up?Applied Materials is a leading supplier of equipment used to make silicon wafers for the chip industr ...