APPLIED MATERIALS Q3 PROFIT TOPS EXPECTATIONS; STOCKS FALL

Applied Materials is currently trading at 45.59-lower by 3.33% as compared to the previous closing. In Pre-market trading on Friday, the stock was traded lower by 2.46%. The stock has continued falling after the opening bell.

The company reported better-than-expected quarterly earnings after the market close on Thursday. Applied Materials generated adjusted EPS of 74 cents for the third quarter. The EPS was above the market expectation of 70 cents. The semiconductor manufacturing equipment maker brought in $3.56 billion in revenue for the quarter ended 28th July. The revenue was above the consensus estimates of $3.52 billion.

The chip gear maker forecasts fiscal fourth-quarter sales of about $3.685 billion, plus or minus $150 million. Applied Materials expects Non-GAAP adjusted diluted EPS between 72 cents and 80 cents for the fiscal fourth quarter.

Stocks of the company have gained about 44% so far this year.

On the technical front, the RSI is currently at 45.06% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards.

 

TRADE SUGGESTION- STOP SELL AT 45.40 TAKE PROFIT AT 44.60 STOP LOSS AT 45.80

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