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Applied Sees Upside for the Display Market
Applied Materials delivered record revenue in its fiscal quarter and earnings hit an annualized run-rate of $5 per share for the first time. For the fiscal year, revenues grew 18% and earnings 37%. Revenue was approximately $4.95 billion, plus or minus $200 million, with the midpoint up about 19%, Y/Y. Non-GAAP EPS will be about $1.26 plus or minus $0.06, or up nearly 30%, Y/Y. From a display perspective, the 2020 revenue target was met in a challenging market However, they are starting to see some encouraging leading indicators of future growth for 2021. These include increasing adoption of OLEDs for IT applications, higher OLED adoption in the smartphone market with more than 70% of the 5G handsets launched to date equipped with OLED screens and foldable OLED handsets approaching a price point that could spur volume adoption. They are optimistic about the long-term opportunities for Applied in the display market and are focusing on addressing the OLED inflection and expanding the available market.
Applied Materials delivered record revenue in its fiscal quarter and earnings hit an annualized run-rate of $5 per share for the first time. For the fiscal year, revenues grew 18% and earnings 37%. Revenue was approximately $4.95 billion, plus or minus $200 million, with the midpoint up about 19%, Y/Y. Non-GAAP EPS will be about $1.26 plus or minus $0.06, or up nearly 30%, Y/Y. From a display perspective, the 2020 revenue target was met in a challenging market However, they are starting to see some encouraging leading indicators of future growth for 2021. These include increasing adoption of OLEDs for IT applications, higher OLED adoption in the smartphone market with more than 70% of the 5G handsets launched to date equipped with OLED screens and foldable OLED handsets approaching a price point that could spur volume adoption. They are optimistic about the long-term opportunities for Applied in the display market and are focusing on addressing the OLED inflection and expanding the available market.
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