Applied Materials Inc (NASDAQ:AMAT, XETRA:AP2) shares fell about 4% on Friday even after the chipmaking equipment supplier beat Wall Street estimates on both revenue and profit for its fiscal third quarter and issued fourth-quarter guidance above expectations. The Santa Clara, California-based company reported revenue of $9.12 billion for the quarter, up 25% year-over-year and ahead of analyst ...
Stock futures are steady Friday after the S&P 500 closed at a record high yesterday; semiconductor stocks are on the cusp of entering a bull market; Reddit stock is popping on news of its inclusion in the S&P 500; Applied Materials shares are slipping despite strong results; and Elon Musk disclosed a nearly 50% stake in SpaceX. Here's what you need to know today.
Analysts see the semiconductor company continuing to grow from a boost in demand amid the race to dominate the artificial-intelligence industry.
Reddit rallies with the social-media platform set to join the S&P 500, while Applied Materials dips after earnings fail to wow investors.
Applied Materials shares fell about 5% in premarket trading on Friday, as the chip equipment maker's upbeat outlook failed to soothe investors worried about the threat from intensifying competition.
Applied Materials delivered stronger-than-expected earnings and guidance, but AMAT fell more than 5% in extended trading as investors decided a beat was not enough after the stock's 2026 rally. Fiscal third-quarter revenue rose 25% year on year to $9.12 billion, above Wall Street's $8.99 billion estimate, while adjusted earnings climbed 41% to $3.50 a share.
Artificial-intelligence adoption continued to drive demand for the company's semiconductor solutions.