Where Will Applied Materials Stock Be in 1 Year?
Applied Materials (NASDAQ: AMAT) posted its latest earnings report on Nov. 17. For the fourth quarter of fiscal 2022, which ended on Oct. 30, the semiconductor equipment maker's revenue rose 10% year over year to $6.75 billion, beating analysts' estimates by $310 million. Its adjusted EPS rose 5% to $2.03 and cleared the consensus forecast by $0.29.
Applied Materials' earnings win allayed some concerns about the broader slowdown of the semiconductor market and the unpredictable regulatory headwinds, but its stock has still shed about a third of its value over the past 12 months. Could it recover in fiscal 2023 as the industry gradually stabilizes?
Image source: Getty Images.
Source Fool.com
