The stock of leading semiconductor equipment supplier Applied Materials (NASDAQ: AMAT) rallied 6.4% on Friday to all-time closing highs near $200, following the company's first fiscal quarter earnings report.

As I've written before, Applied is one of the least-risky ways to play the growth of semiconductors and artificial intelligence applications. But is the stock still a buy at all-time highs?

While Applied is known by many as a very cyclical stock, it has actually proven less cyclical than investors may have feared during the post-pandemic downturn.

Continue reading

Source Fool.com