ET -- Applied Materials is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Adjusted earnings were $2 a share for the quarter, compared with the consensus estimate of $1.84 among analysts tracked by FactSet. Revenue came in at $6.63 billion, above analysts' expectations of $6.39 billion. Applied Materials also sees third-quarter revenue of $6.15 billion, compared with the consensus view of $6.06 billion. In a bull case scenario that assumes further increases in chip demand, Applied Materials shares may climb as high as $138 from the current level of about $130, strategists led by Steve Barger wrote in a note.

Source: Wall Street Journal May 19, 2023 22:07 UTC