Year 2 of the Chip Shortage Is Starting, and Applied Materials Stock Is Still a Buy

The world continues to grapple with a big question: "When will the chip shortage end?" The answer is almost certainly not 2022. Perhaps it will end in 2023, but it's too early to know for sure. In the meantime, semiconductor designers, manufacturers, and fabrication equipment companies continue to report stellar growth and profitability.

Applied Materials (NASDAQ: AMAT), one of the leaders in developing fab equipment (the machines that make chips), just reported yet another fantastic quarter of sales and profit growth -- with plenty more on the way. Here's why this is still a great stock to buy for the long term.

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Source Fool.com