Cambiar Sees AI Buildout Supporting Applied Materials’ Equipment Demand
The fund says AI compute expansion and memory supply concerns support its smaller position in the chip-equipment maker.
Applied Materials remains a standout performer for Cambiar Opportunity Fund, which cited strong demand for the company’s semiconductor equipment in its second-quarter 2026 investor letter. The fund said the buildout of AI computing capacity is supporting demand.
Cambiar also pointed to memory supply concerns. The letter said Applied Materials’ CEO had noted that some customers were worried about supply into 2030.
The fund said it had been reducing its technology exposure as shares rose, while keeping a smaller position in Applied Materials. Its technology allocation was 8.4% at the end of the quarter, and its lower tech weighting was the largest detractor versus the index, the letter said.
Applied Materials closed at $511.38 on Sept. 30. As of 15:04 UTC on Oct. 1, shares traded at $526.71, up 3% since the previous close.
This article was produced with the help of AI technology.
Source: Yahoo Finance
