Is a Big Move in Store for Applied Materials Stock? -Breaking
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© Reuters. Are Applied Materials Stocks Making a Huge Move?Applied Materials (NASDAQ 🙂 traded in a large sideways trading range, where it formed a level support and a resistance line. The stock could make a huge move if it breaks above either support or resistance levels. You can learn more how to profit this trade. Applied Materials is the biggest supplier of semiconductor manufacturing equipment in the world. They provide materials engineering solutions for nearly all kinds of chips. The systems of the firm are utilized in almost all major processes, with the exception being lithography.
Strong momentum is being enjoyed by the company in Semiconductor Systems, Applied Global Services and Semiconductor Systems. AMAT has seen strong demand from silicon across multiple markets. Growth should also be supported by the increasing use of OLED technology on smartphones, televisions and computers.
The company’s cash balance was $6.5 billion at the close of the last quarter. This is a significant improvement on no short-term borrowing. AMAT has experienced strong earnings growth over the past five year, with an average growth rate of 30% per share. Analysts anticipate earnings rising 56% annually in this quarter.
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