Applied Materials (AMAT) signed a $1.9 Billion contract to build multiple solar component factories outside of the United States.
According to the Schaeffer Research:
The company announced earlier today that it has signed agreements to supply and install equipment for "multiple solar factories" for an unnamed private corporation based outside the U.S. One analyst noted that the plan is part of a major project in China that "includes wealthy individuals related to the solar industry, a big component of government sponsorship and may also include some existing solar ventures." The same analyst notes that this order is "about 5 times larger than any order or project Applied Materials has ever received." The deal carries a price tag of $1.9 billion, which has surpassed analysts' expectations.
We are putting AMAT on the Maria Energia Model Portfolio Watch List.