Is It Too Late to Buy Applied Materials Stock?

Applied Materials (NASDAQ: AMAT) stock has been in fine form on the market in recent weeks, with shares of the company rising 21% since the beginning of July. Now it seems that this high-flying semiconductor play could head higher following its latest results.

The semiconductor equipment supplier released fiscal 2022 third-quarter results (for the three months ended July 31, 2022) on Aug. 18. Wall Street was surprised by the stronger-than-expected numbers, as recent reports from semiconductor bellwethers such as Nvidia and Intel have pointed toward a slowdown in semiconductor sales.

Applied Materials delivered fiscal Q3 revenue of $6.5 billion, an increase of 5% over the prior-year period. The company's adjusted earnings inched up 2% year-over-year to $1.94 per share. Analysts were expecting $1.78 per share in earnings on $6.27 billion in revenue. But the steps taken by Applied Materials to mitigate the supply chain challenges allowed it to fulfill more orders and deliver better-than-expected numbers.

Source Fool.com