Why Applied Materials Stock Just Popped 9%
Shares of Applied Materials (NASDAQ: AMAT), a producer of equipment for the manufacture of semiconductor chips and solar panels, are soaring in early Friday trading, up 9.2% as of 10:30 a.m. EST.
The reason: earnings.
Last night, Applied Materials ran circles around Wall Street estimates for its fiscal Q4 results, reporting quarterly sales of $3.75 billion and "non-GAAP" profits of $0.80 per share. Street analysts were only looking for $0.76 per share earned on sales of $3.68 billion -- and Applied beat those numbers handily.
Source Fool.com
