What's Going On With Applied Materials Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Applied Materials, Inc. (NASDAQ: AMAT) shares are trading lower in the premarket session after reporting second-quarter results for 2024. The company generated $1.39 billion in cash from operations and distributed $1.09 billion to shareholders. Despite beating revenue and EPS estimates, the company faces temporary order halts from some semiconductor manufacturing customers. AMAT sees third-quarter revenue and earnings slightly above estimates but does not expect significant growth this year.
May 17, 2024 | 10:28 am
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Applied Materials reported Q2 2024 results with revenue and EPS beating estimates. The company generated $1.39 billion in cash from operations and distributed $1.09 billion to shareholders. Despite positive results, shares are trading lower due to temporary order halts from some customers and a modest growth outlook for the year.
Despite beating revenue and EPS estimates, the stock is trading lower due to concerns over temporary order halts from some customers and a modest growth outlook for the year. This indicates investor apprehension about short-term growth prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Intel Corporation (NASDAQ: INTC) is a key customer of Applied Materials. The performance and outlook of Applied Materials can impact Intel's supply chain and production capabilities, especially in the context of semiconductor manufacturing.
As a key customer of Applied Materials, Intel's supply chain and production capabilities could be influenced by AMAT's performance and outlook. However, the direct impact on Intel's stock price is less certain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) is a major customer of Applied Materials. The performance and outlook of Applied Materials can impact TSM's supply chain and production capabilities, especially in the context of semiconductor manufacturing.
As a major customer of Applied Materials, TSM's supply chain and production capabilities could be influenced by AMAT's performance and outlook. However, the direct impact on TSM's stock price is less certain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50