Why Applied Materials Stock Hit A New 52-Week High Today
Portfolio Pulse from Henry Khederian
Shares of Applied Materials, Inc. (NASDAQ:AMAT) are trading higher by 4.63% after Intel Corporation and KLA Corp reported strong quarterly results. Intel's Q2 revenue of $12.9 billion exceeded the analyst consensus estimate of $10.97 billion, and its earnings per share of 13 cents outperformed the Street consensus estimate of a loss of 3 cents per share.
July 28, 2023 | 5:04 pm
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Applied Materials, Inc. (NASDAQ:AMAT) shares are trading higher by 4.63% after Intel Corporation and KLA Corp reported strong quarterly results.
Applied Materials, a provider of materials engineering solutions used to produce virtually every new chip and advanced display, is seeing its stock price rise following strong quarterly results from Intel and KLA Corp. This is likely due to the fact that strong results from these companies indicate a healthy semiconductor and chip market, which is beneficial for Applied Materials.
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