This Top Tech Stock Is a Screaming Buy As It Could Crush the Market Once Again
Technology stocks turned out to be good for investors in 2021 as the NASDAQ-100 Technology Sector index recorded astounding gains. Applied Materials (NASDAQ: AMAT) was one of those tech companies that helped investors get rich by delivering eye-popping upside on the back of impressive growth in revenue and earnings.
Applied Materials' outstanding stock market performance last year isn't surprising, as it is solving a key problem that's hurting several industries ranging from smartphones to automotive to gaming consoles and personal computers -- the global chip shortage.
The company makes semiconductor manufacturing equipment and also provides ancillary services to semiconductor manufacturers to boost their productivity. This explains why there has been a sharp spike in the company's top and bottom lines over the past year as semiconductor manufacturers have been scrambling to boost capacity to meet surging demand.
Source Fool.com
