Applied Materials, Inc. (AMAT), is an American corporation that supplies equipment, services and software to enable the manufacture of semiconductor (integrated circuit) chips for electronics, flat panel displays for computers, smartphones and televisions, and solar products. The company also supplies equipment to produce coatings for flexible electronics, packaging and other applications. The company is headquartered in Santa Clara, California, in the Silicon Valley.
Reported after close yesterday (5/19/16) Earnings: EPS $0.34 Revenue $2.45B Estimates: EPS $0.32 Revenue $2.43B Up 8.99% pre-market
Estimates sales raising 40% to $3.3B marking fastest top line growth in 5+ years. This is going to be good.
This may be a buying opportunity (down 3% AH) A good bit of buying the last few days, caused it to make little gaps the last couple days that have now been filled Hour chart: See if it bounces from 29.15, a confluence of a Fib retracement and the lower Bollinger Band. There will be more volume tomorrow. Here's the ER: So revenue missed (that excuse will be used to explain the AH drop). But EPS is 2.3-times what it was last year, on 39% sales growth. And the kicker: guidance is above estimates.
$AMAT Cowen & Company raises to $40 from $33 https://stocknews.com/news/amat-cowen-company-raises-to-40-from-33/
Looks like a potential sell here, maybe puts. Right on the resistance level today, this could use a pull back next week
Applied Materials Inc. AMAT, +0.40% makes equipment used to fabricate semiconductors. This company is exposed to a growing area of the economy, there’s better value to be found in large-cap computer hardware manufacturers than in tech services companies right now.
After building cause in a series of clustered closes centering around $56 or so, AMAT got over and held its April 2000 high of $57.50 for several days but failed to make any further progress. Now it appears like it is testing those clustered closes again. The last stepping-stone (re-accumulation) trading range showed me a target of $64. It hit almost $61 on the last rally. So this thing has been a 4-bagger in the course of the last couple years. It may need a significant rest now that it has hit its all-time high from the dotcom bubble days. However, after the 2000 crash, this built cause for 13 years, from Oct 2002 to Oct 2015. Ultimately, I expect it goes much higher; multiples higher. Edit: In my experience, because it is a purveyor of machinery to the semi industry, it has proved to be a leader; a canary in the coal mine.
AMAT appears to have capitulated and has now tested the high-volume-low bar showing very little volume (no supply of stock coming into market). It is ready for mark up. I will probably get in early this week. Current cause gives an objective of $109.
Looks real good for a reversal up to $51.50 as long as this week's lows of $47.20 holds into the net few weeks. Similar trend to JD set a few weeks back.
