From 24/7 Wall Street:
Tuesday after the close, we’ll get to see earnings out of Applied Materials Inc. (NASDAQ: AMAT). The estimates for the semiconductor fabrication company from First Call are $0.22 EPS on $2.14 billion in revenues. Next quarter estimates are $0.26 EPS on $2.28 billion in revenues. Estimates for fiscal Oct-2008 are $1.01 EPS on $8.95 billion in revenues. Analysts have an average price target north of $24.00. Applied Materials’ 52-week trading range is $16.13 to $23.00. Shares are still in the middle of its 52-week trading range and it really just looks like the stock has support $1.00 under and resistance $1.00 higher based on its trading bands....
Here's a negative story from Barron's that didn't do anything to the stock.
11 April $19.00 close
12 April article
14 April $18.75 close
13 May $ 19.87 close
From Barron's:
Applied Materials' Forecast: Hazy, Rain Possible
IT'S HARD TIMES FOR MAKERS OF SEMICONDUCTOR-PRODUCTION gear. "We're in the throes of a very, very bad downturn," says Jim Covello, the Goldman Sachs analyst who follows companies like Applied Materials. "The semiconductor capital-equipment business just isn't a growth industry any more."
No wonder Applied Materials and its Wall Street fans are waiting for the sun. Out of the semiconductor gloom, Applied shares (ticker: AMAT) have risen about 8% this year -- far outperforming Nasdaq, which has lost 14% -- to reach a recent $19. Meanwhile, analysts like Citigroup's Tim Arcuri are talking up the company's SunFab offering, a line of equipment for making huge solar-power panels, two meters to a side....MORE
