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Applied Materials' (AMAT) Carbon Neutral Efforts Get a Boost

Applied Materials AMAT continues to progress well toward bolstering its sustainability goals.

The company has joined a global initiative called RE100, committing to 100% renewable electricity. This testifies the abovementioned fact.

Reportedly, the company is progressing well to achieve 100% renewable electricity by 2030, which is a major positive.

By running its business on 100% renewable energy and sourcing it worldwide by 2030, the company will be able to reduce its carbon footprint, which is very crucial in this data-driven world.

With growing efforts toward achieving zero-carbon footprints, Applied Materials remains well-poised to gain solid momentum, wherein the demand for lowering the hazardous environmental impacts of business operations is increasing fast.

Applied Materials, Inc. Price and Consensus

Applied Materials, Inc. Price and Consensus
Applied Materials, Inc. Price and Consensus

Applied Materials, Inc. price-consensus-chart | Applied Materials, Inc. Quote

Renewable Energy in Demand

With the latest move, AMAT peps up the carbon neutrality game for other tech companies like Lam Research LRCX, KLA Corporation KLAC and Analog Devices ADI that are also taking initiatives to adopt alternative energy sources to lower overall carbon emissions and cut energy bills substantially.

Lam Research seems to be progressing well on its environmental sustainability path, which is evident from its recent accomplishments. The company, which is committed to reaching its goal of net-zero carbon emissions by 2050 and operating businesses on 100% renewable energy by 2030, has introduced a foundational strategy to boost sustainability throughout the supply chain.

Further, LRCX has come up with various energy-efficient etch products that are capable of reducing tool use of helium by up to 80%. The products are designed to boost generator efficiency by up to 15% in NAND and foundry logic development.

Meanwhile, Analog Devices pledged to reach carbon neutrality and net-zero emissions by 2030 and 2050, respectively.

ADI intends to shift its overall operations to 100% renewable energy by 2025. It is gearing up to address emissions across the full value chain by 2030.

KLA is committed to powering its global operations with 100% renewable energy by 2030. Precisely, KLA is targeting a 46% cumulative reduction in both Scope 1 and Scope 2 emissions by 2030 from its 2019 baseline.

Bottom Line

The latest move by Applied Materials is in sync with its strong efforts to bolster its presence in the semiconductor industry by deepening its focus on maximizing the sustainability impacts of its technologies and solutions.

We believe that this Zacks Rank #3 (Hold) company’s strengthening endeavors will continue to shape its trajectory in the intensifying carbon neutrality game. Its robust environmental measures across its operations remain noteworthy.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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