Applied Materials Trades More Than 25% Below Its High With Revenue at a Record
The equipment maker just posted records on nearly every line and guided even higher. The stock is priced as if it won't last.
Overview
Applied Materials (NASDAQ: AMAT) came into Thursday's fiscal third-quarter report about 28% beneath its 52-week high of $739.67, closing the session at $534.54.
The chip-equipment maker then posted records on nearly every line. Revenue came in at $9.1 billion, up 25% year over year. Non-GAAP (adjusted) earnings per share rose 41% to a record $3.50. Operating income and operating cash flow set records, too, with the latter topping $3 billion.
Details
Management then guided fiscal fourth-quarter revenue to $10.25 billion, plus or minus $500 million, good for 51% year-over-year growth at the midpoint. The stock fell about 5% in after-hours trading anyway.
Source
Originally published at www.fool.com.