On Monday, February 19, Connor Zierden pitched Applied Materials Inc. (NASDAQ: AMAT) as an addition to the Information Technology sector holdings. Applied is a semiconductor equipment manufacturing company with three main business segments: Semiconductor Systems, Applied Global Services, and Display. Connor anticipates strong double-digit revenue growth in all three segments through the end of the decade, with the Display Segment experiencing the most drastic market expansion. The most explosive drivers over the next five years are expected to be Artificial Intelligence and hyperscale data centers. Applied saw record operating margins and quarterly revenues in the first quarter of 2018, with sales growing 28% year over year to $4.20 Billion. Applied leads the industry in research, development, and engineering (RD&E) investment, enabling them to take the largest market share. Alongside the commitment to RD&E, Applied has a venture arm that invests over $50 Million annually to extend its reach and supplement its businesses. Connor believes that a revitalized capital allocation framework that includes doubling the quarterly dividend payment, increasing capital expenditures, and authorizing an additional $6 Billion in share buybacks confirms the bullish executive outlook and the company’s commitment to return value to its shareholders. He envisions the semiconductor industry to be prominent over the next decade, which demonstrates the long-term value Applied has to offer. Connor motioned to purchase 160 shares of AMAT; the motion passed unanimously.