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Buying This Growth Stock Right Now Is a No-Brainer

TheMotleyFool

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Buying This Growth Stock Right Now Is a No-Brainer

Share prices of Applied Materials (NASDAQ: AMAT) have pulled back nearly 8% since the stock's rating was cut from buy to neutral by research firm New Street Research toward the end of September. While New Street reaffirmed its $140 price target on the stock, it cited the lack of near-term catalysts as the reason for the downgrade.

This seems to have dented investor confidence in Applied Materials stock, which has beaten the broader market handsomely so far in 2021 thanks to a string of impressive quarterly results driven by the growing demand for semiconductor manufacturing equipment.