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Investors are bailing on Applied Materials (AMAT) following reports that OpenAI missed internal revenue and user growth targets.
OpenAI has missed internal revenue and user growth targets, according to a recent report.
KEY POINTS
- Applied Materials stock broke below its 20-day moving average due to concerns about AI demand.
- Chipmakers may slow orders for AMAT's EUV and GAA equipment if AI software growth stalls.
- AMAT remains a key beneficiary from the shift to 2nm process nodes and high-bandwidth memory.
- Wall Street consensus still rates AMAT as a 'Strong Buy,' with price targets above $500.
COMPANIES
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