A Solid Dividend Stock to Buy in May
Applied Materials (NASDAQ: AMAT) had to pull its quarterly guidance in March, as the novel coronavirus outbreak disrupted tech supply chains thanks to shelter-in-place orders and lockdowns initiated across the globe to contain the spread.
Not surprisingly, the company's fiscal second-quarter results were a mixed bag as revenue and earnings fell way short of Wall Street's expectations. The company said that COVID-19 created substantial challenges across its "supply chain, manufacturing operations and logistics," erasing nearly $650 million in potential sales in its semiconductor systems business during the quarter.
Despite these challenges, Applied Materials put up a solid performance and also met its dividend commitments at a time when several big names have been reducing or suspending payouts. Let's take a closer look at the reasons why Applied Materials could turn out to be a solid dividend stock right now.
Source Fool.com
