Here's Why You Should Buy Applied Materials (AMAT) Stock
Zacks Investment Research | Feb 20, 2018 12:05AM ET
On Feb 20, Applied Materials, Inc. (NASDAQ:AMAT) was upgraded to a Zacks Rank #1 (Strong Buy).
The company reported robust first-quarter fiscal 2018 results, wherein both the top and the bottom line surpassed the Zacks Consensus Estimate. Notably, the company outperformed the Zacks Consensus Estimate for earnings in the trailing four quarters, with an average beat of 4.76%.
Non-GAAP earnings of $1.06 per share increased 14% sequentially and 59% year over year. The growth was primarily attributed to strong revenue growth, up 5.9% sequentially and 28.2% year over year, to $4.2 billion. Robust demand for the company’s products across all regions provided an impetus to the top line.
The impressive results are driving earnings estimates upward. The Zacks Consensus Estimate for 2018 earnings has increased almost 7% to $4.33 per share in the last seven days. Earnings estimate for 2019 has also increased 4.1% to $4.55 per share over the same time frame.
The stock has returned 56.0% over a year, outperforming the Zacks Investment Research
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