Why Applied Materials Stock Tripped and Fell on Tuesday
High-tech equipment maker Applied Materials (NASDAQ: AMAT) didn't have a top Tuesday on the stock market. The company's shares were dinged by over 2% despite its announcement of a new manufacturing platform. That price performance was notably worse than that of the benchmark S&P 500 index, which went in the opposite direction by rising nearly 0.7% higher on the day.
Before market open, Applied Materials issued a press release unveiling said system, called Vistara. The new wafer-making platform is the latest in a line of such offerings from the company; it listed its Endura, Producer, Centura, and Centris as other successful platforms on the market.
In the document, Applied Materials categorized Vistara as its "most significant" innovation in wafer manufacturing in over a decade. That might have been the detail sending its shares lower -- companies on the cutting edge of the tech world are often expected by investors to devise new boundary-pushing products more often.
Source Fool.com
