AMAT

Applied Materials trades at roughly 50 times earnings and 75 times free cash flow despite only 3% annual revenue growth over the past three years, leaving it exposed when cyclical chip demand cools.

应用材料即使大跌后仍严重高估，较强支撑位在 459 以下，若半导体继续回撤，其下行风险仍然较大。