Time to Accumulate Applied Materials Before Foundry Ramps Hit? - 24/7 Wall St. Time to Accumulate Applied Materials Before Foundry Ramps Hit? By Joey Frenette Published Aug 20, 9:14AM EDT Quick Read Applied Materials cratered from its peak, yet Dr. Burry's short and over a dozen Q2 hedge fund warrant caution. Foundry CapEx keeps flowing to equipment suppliers, but the bullwhip effect makes Applied Materials one of the sharpest boom-bust plays in semis. At 30x forward P/E with shares still tripled over the p ...