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Summary

Applied Materials has just sold off by roughly 48% since its ATH.

I believe it created a once-in-a-decade buying opportunity with a high double-digit upside potential.

AI-driven semiconductor demand remains robust, with supply shortages expected through 2030, directly benefiting AMAT's core business.

AMAT delivered a 25% top-line jump, 330 bps margin expansion, and over 40% EPS growth, with bullish Q4 guidance and consensus.

Wall Street Analysts expect over 66% upside with AMAT, which I read as another bullish signal.

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Some of you who read my articles may know that I'm a big fan of the semiconductor space. I'm invested in a handful of players, which include (among others) Nvidia (NVDA), Micron Technology (MU), and Broadcom (AVGO).

But I also like to take a step back from these names and look at businesses, which are the first step in the whole AI revolution.…