Applied Materials Drops on Downgrade - Worth a Look (AMAT)

| About: Applied Materials, (AMAT)

Applied Materials, Inc. (NASDAQ:AMAT) looks like it is dropping as a result of a UBS downgrade Monday. The company engages in the development, manufacture, marketing, and service of integrated circuit fabrication equipment for the semiconductor industry worldwide.

AMAT is currently trading at $17.75. If the stock trades below $17 I will likely purchase some shares of the company.

AMAT 1-yr chart: