The world's largest and most diversified semiconductor equipment company, Applied Materials (NASDAQ: AMAT), reported earnings last week, showing its resilience to some of the more cyclical elements of the market.

While the chip sector is currently in a downturn -- especially leading-edge chips and memory -- Applied still guided for sequential growth, signaling its very mild dip in revenuE may be over.

In a world of economic turmoil, Applied's resilience could lead to multiple expansion for the stock. If that's the case, then even more upside could be coming, even beyond the 50% gains the stock has already made this year. 

Continue reading

Source Fool.com