Why ASML Holdings, Lam Research, and Applied Materials Fell More Than 10% in August
Shares of semiconductor capital equipment makers ASML Holdings (NASDAQ: ASML), Lam Research (NASDAQ: LRCX), and Applied Materials (NASDAQ: AMAT) were down in August, falling 12.7%, 12.5%, and 11.2%, respectively, according to data from S&P Global Market Intelligence.
Even though Applied Materials reported strong earnings and gave a strong outlook during the month, it wasn't enough to stave off fears over a potential economic downturn. Since these three stocks each rallied in July, Federal Reserve Chair Jay Powell's comments at Jackson Hole, Wyoming, were enough to send them in reverse at the end of August.
Applied Materials reported its fiscal third-quarter results on Aug. 18, beating analyst expectations for both revenue and earnings per share, while also guiding for strong sequential growth. Interestingly, while investors seem to be concerned about demand, Applied management said its demand is still above its ability to supply, and that the company's backlog continues to grow.
Source Fool.com
