Applied Materials Gained 7% in the Second Half of 2022. Is the Worst Over?
Shares of Applied Materials (NASDAQ: AMAT), one of the leading suppliers of semiconductor manufacturing equipment worldwide, rose 7% in the second half of 2022, according to data from S&P Global Market Intelligence. Despite the 2022 bear market, with the S&P 500 falling sharply late last year, shares of the semiconductor giant rallied because of numerous announcements from its main manufacturing customers.
As of this writing, shares of Applied Materials are down 31.5% over the past 12 months.
Applied Materials develops and sells tools that manufacturers use to produce semiconductors. Companies such as Taiwan Semiconductor Manufacturing, Samsung, and Intel need Applied Materials' equipment to make the most advanced chips on the market, making the products vital for the progression of various industries, including cloud computing, smartphones, and the internet of things (IoT).
Source Fool.com
