Here's Why Applied Materials Shares Are Moving
Portfolio Pulse from Henry Khederian
Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower by 2.96% after Advanced Micro Devices reported Q2 earnings and issued Q3 guidance below estimates. Despite AMD surpassing analyst consensus estimates, there was a significant decrease in earnings and sales compared to the same period last year. This news has affected other chip stocks, including Applied Materials.
August 04, 2023 | 11:42 am
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Applied Materials shares are trading lower due to AMD's Q2 earnings report and lower Q3 guidance. This news has negatively impacted the stock price of Applied Materials.
Applied Materials' stock price is being negatively impacted due to AMD's Q2 earnings report and lower Q3 guidance. As AMD is a major player in the chip industry, its performance can influence the stock prices of other companies in the same industry, such as Applied Materials.
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