Applied Materials slides; results due after the bell
AMAT•Applied Materials shares fell 3.2% ahead of quarterly results due after the closing bell. Analysts expect revenue to rise 51% to $10.30 billion and adjusted EPS to reach $4.05, up from $2.17 a year earlier.
1. Results in focus
Applied Materials shares slipped 3.2% on Thursday ahead of quarterly results due after the closing bell. Investors are watching for updates on the company's increased stake in Besi and demand for AI chips.
2. Analyst expectations
Analysts expect quarterly revenue of $10.30 billion, up 51%, and adjusted EPS of $4.05 compared with $2.17 a year ago. The company has beaten earnings estimates in each of its past eight reporting periods.
3. Stake and ratings
In late October, Applied Materials said it would increase its stake in Dutch peer BE Semiconductor Industries to about 20%, expanding a partnership in hybrid-bonding technology for next-generation AI chips. Analyst ratings include 35 strong-buy or buy recommendations and four holds. The shares have risen 49% year to date, compared with a 9% rise for the Nasdaq.
