Applied Materials (AMAT) : Traders are bullish on Applied Materials (AMAT) as it has outperformed the S&P 500 by a wide margin of 4.93% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.54%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.98% in the last 1 week, and is up 7.54% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Applied Materials (NASDAQ:AMAT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.50 and $26.38 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $26.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $26.81, notching a gain of 1.67% for the day. The total traded volume was 6,914,596 . The stock had closed at $26.37 on the previous day.
The stock has recorded a 20-day Moving Average of 2.33% and the 50-Day Moving Average is 8.01%. Applied Materials, Inc. is up 35.52% in the last 3-month period. Year-to-Date the stock performance stands at 45.01%.
Applied Materials (AMAT) : The highest level Applied Materials (AMAT) is projected to reach is $30 for the short term and the lowest estimate is at $17. The consolidated price target from 15 rating analysts who initiate coverage on the stock is $26.97 and the possibility the share price can swing is $3.12.
Applied Materials, Inc. (Applied) provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group, Applied Global Services, Display, and Energy and Environmental Solutions. The Silicon Systems Group segment develops, manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services, products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays, organic light-emitting diodes and other display technologies for televisions, personal computers, tablets, smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.