Why Applied Materials Rose 48.4% in the First Half of 2023
Shares of Applied Materials (NASDAQ: AMAT) rose 48.4% in the first half of 2023, according to data from S&P Global Market Intelligence.
It was a very good first half for semiconductor stocks in general, as many sector leaders entered 2023 at depressed levels following the Fed's aggressive interest rate hikes and fears over a potential recession.
Yet while PC and smartphone sales have remained depressed following the pull-forward of demand during the pandemic and weakness in China, trailing-edge chips for electric vehicles and the Internet of Things applications remained strong.
Source Fool.com