AMAT - Why Applied Materials Shares Are Rising | Benzinga
Applied Materials, Inc. (NASDAQ:AMAT) shares are trading higher by 2.9% to $210.97 during Thursday’s session. Shares of semiconductor stocks are trading higher in sympathy with Micron, which reported better-than-expected second-quarter financial results and issued strong third-quarter guidance.
Micron beat revenue expectations with $5.82 billion and reported a surprise profit of 42 cents per share, surpassing analyst estimates of a 25 cents per share loss. Operating cash flow rose to $1.22 billion from $343 million year-over-year but decreased from the previous quarter’s $1.4 billion.
Meanwhile, adjusted free cash flow was negative at $29 million for the quarter…Read More
See Also: Micron’s Q2 Earnings Growth Fueled By AI — High Bandwidth Memory Investments Key