Applied Materials (AMAT): Two downside targets have been met in a row

Applied Materials is the “backbone” of the global semiconductor industry and one of the purest stock bets on artificial intelligence infrastructure. In less than a year, the stock tripled in value and hit a new all-time high, followed by a significant correction. Even a record quarterly report failed to reverse the downward trend, and industry capital is increasingly flowing toward memory manufacturers. We’ll break down what drives AMAT’s profits, its current valuation, and which levels on the daily chart are important right now.