Applied Materials (AMAT)

[Stock]

UBS gets bearish on semi equipment stocks

Applied Materials Cut To Neutral From Buy By UBS >AMAT

Last update: 8/3/2010 8:22:07 AM
(END) Dow Jones Newswires

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Applied Materials downgraded to neutral at UBS

By Simon Kennedy

LONDON (MarketWatch) -- UBS downgraded semiconductor equipment company Applied Materials Inc. (AMAT 11.73, -0.28, -2.35%) to neutral from buy, saying it expects industry orders to peak in the first quarter of 2011. UBS lifted its fiscal 2011 earnings per share forecast for the company to $1.35 from $1.25, but also lowered its fiscal 2012 forecast to $1.08 a share from $1.17 a share.