Semiconductor equipment manufacturer Applied Materials (AMAT) has seen a 77% gain in the past year. Mizuho analysts upgraded AMAT stock to “Outperform” with a price target of $370, citing a projected 13% increase in wafer fabrication equipment spending this year. The company’s Q4 earnings beat expectations, with revenue at $6.8 billion. Annual results showed a 4% revenue increase to $28.37 billion. Wall Street analysts have a bullish outlook on AMAT stock, with a consensus “Strong Buy” rating. Major players like Taiwan Semiconductor and Intel are driving demand for Applied Materials’ products.

Read more at Barchart: Up 77% in the Past Year, This Analyst Says More Upside Is Still in Store for Applied Materials Stock