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Applied Materials stock has risen 17% over the past 12 months.
David Paul Morris/Bloomberg
Applied Materials
reported better-than-expected earnings for its fiscal second quarter. Its shares fell slightly in after-hours trading.
The chip equipment maker reported adjusted earnings of $2.00 a share for the April quarter, compared with the consensus estimate of $1.84 among Wall Street analysts tracked by FactSet. Revenue came in at $6.63 billion for the quarter, above analysts’ expectations of $6.39 billion.
Applied Materials
(ticker: AMAT) also forecast a range of potential revenue for the current quarter with a midpoint of $6.15 billion, compared with the consensus view of $6.06 billion.
“Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering,” the company’s CEO Gary Dickerson said in the news release.
Applied Materials shares fell 0.6% to $129.10 following the release in post-market trading.
The chip equipment company’s key customers include Intel (INTC) and
Taiwan Semiconductor Manufacturing
(TSM).
Over the past 12 months, Applied Materials stock has risen 17%, compared with the 12% rally for the
iShares Semiconductor
(SOXX) exchange-traded fund, which tracks the performance of the ICE Semiconductor index.
Write to Tae Kim at [email protected]
Source: https://www.barrons.com/articles/applied-materials-earnings-stock-price-c685fba?siteid=yhoof2&yptr=yahoo