Mizuho Securities Downgrades Applied Materials (AMAT) to Neutral, Reduces PT

​Applied Materials, Inc. (NASDAQ:AMAT) is one of the Best Technology Stocks to Invest in for the Long Term. On September 12, analyst Vijay Rakesh from Mizuho Securities downgraded Applied Materials, Inc. (NASDAQ:AMAT) from Outperform to Neutral, while also reducing the price target from $200 to $175.

​The analyst highlighted competition and technology shifts in the wafer fabrication equipment industry, as competition from China and technology transition drives increased competition overall. He also noted that the biggest share shifts are in Sputtering and Plasma-Enhanced Chemical Vapor Deposition segments. Applied Materials, Inc. (NASDAQ:AMAT) holds roughly 47% revenue share in this area, making the company more exposed to the competition compared to its competitors.

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor and display industries.

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Disclosure: None. This article is originally published at Insider Monkey.