BlackRock Global Dividend Fund on Applied Materials
Thesis
Applied Materials contributed to performance as investor enthusiasm for semiconductor demand increased alongside AI infrastructure development. The company also benefited from strong earnings, an upgraded growth outlook and robust order visibility. BlackRock remains constructive on AI, while expecting future opportunities to increasingly emerge from infrastructure bottlenecks and second-order beneficiaries rather than only the most obvious winners.
“Applied Materials benefited from strong earnings, an upgraded growth outlook, and robust order visibility.”