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Thursday, Aug 16
2012, 2:53 PM
Applied Materials (AMAT +1.5%) has turned positive in spite of providing dismal guidance and...
Applied Materials (AMAT +1.5%) has turned positive in spite of providing dismal guidance and bookings data to go with its FQ3 beat, and getting downgraded Susquehanna and CLSA. Huge stock buybacks, a rock-bottom valuation, and hopes for a year-end rebound are probably helping. Needham (Hold) is worried a recovery won't include orders from memory makers, and also doubts AMAT can outperform its peers. Chip stocks are doing well today (SOXX +1.7%). (transcript)