2024-02-16 10:29:21 ET
Summary
- Applied Materials stock is up sharply after posting strong Q1 earnings and Q2 guidance.
- The stock has been on an eye-popping rally, but the pace of gains is unsustainable.
- The company's fundamentals are strong, but the valuation is becoming less attractive after the big rally.
Semiconductor giant Applied Materials ( AMAT ) posted Q1 earnings last night, and the stock is exploding higher. We’ve seen the semis as a group relentlessly powering higher this year, and Applied Materials is no different. The stock, with the pre-market move this morning, is up something like 30% and we’re only halfway through February....
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For further details see:
Applied Materials: Why I'm Moving To The Sidelines After Q1