President Trump’s tariffs have overshadowed Applied Materials (AMAT) stock, stirring up short-term headaches for the semiconductor equipment titan. Despite a recent rebound, shares trade ~30% below their 52-week highs, with the decline somewhat justified. Indeed, higher costs and global trade tensions could dent the company’s near-term prospects. Still, the effort to restore chip manufacturing to U.S. soil promises a lucrative payoff in the long run. Given this narrative and AMAT’s unmatched rol