Applied Materials hits a 52-week high, levels to watch At time of writing the stock is just edging past a 52-week high at $21.22 and is testing longer-term resistance. Next resistance of importance is at $22.28, which is a zone of prior resistance just below a pivot high from August 2007. Support is at $20.63.
Applied Materials weakness creates buying opportunity, says Stifel Stifel believes that Applied Materials' (AMAT) fundamental story has not changed, while the weakness in the shares is an overreaction to certain issues, including the Microchip (MCHP) preannouncement. Stifel expects the company to benefit from strong WFE spending in 2015 and increasing capital intensity trends in the chip sector. The firm keeps a $25 price target and Buy rating on the shares.