AMAT stock, one of the semiconductor stock picks, was trading at $80.58 as of 11:08 AM EDT.
On Thursday, stock prices went down because people were worried that the Federal Reserve would maintain its ultra-hawkish stance. The main U.S. stock market indices ended the day down, wiping out more of the gains made earlier in the week.
Even though the overall trend was down, the semiconductor equipment sector grew on the day. Along with companies like ASML ( NASDAQ:ASML ), Applied Materials ( NASDAQ:AMAT ), and KLA Corp., the stock of Lam Research ( NASDAQ:LRCX ) rose in response to a positive earnings announcement KLA Corp. ( NASDAQ:KLAC )
Super Micro Computer ( NASDAQ:SMCI ), another notable gainer, rose when it revealed an updated forecast. On the other hand, both WD-40 (WDFC) and Union Pacific ( NYSE:UNP ) saw big drops in price after their separate earnings reports came out.
Sector Under Consideration
The semiconductor equipment sector saw purchases sparked by strong earnings from Lam Research ( NASDAQ:LRCX ). When the company gave a forecast for the current quarter that was better than expected, investors rushed into the sector. After the company’s Q1 profit was higher than expected and i...
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