Applied Materials Stock Leaps on Q4 Earnings Beat, Improving Outlook

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By Martin Baccardax “We expect 2023 to be a down year for wafer fab equipment spending, but we believe that Applied’s business will be more resilient,” said CEO Gary Dickerson. Applied Materials (AMAT) – Get Free Report shares moved firmly higher Friday following a fourth quarter earnings beat paired with a solid near-term demand outlook for the semiconductor equipment maker. Applied Materials, which lowered its fourth quarter profit outlook last month after President Joe Biden unveiled new restrictions on the export of high-tech semiconductors and chipmaking equipment to China-based companies…

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