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Movement Alert|Applied Materials Rises 3.05% in Pre-Market Trading, Semiconductor Equipment Sector Rebounds as Citi Bullish Catalyst Continues

Market Focus08-07

On August 7, Applied Materials rose 3.05% in pre-market trading, trading at 543.2 USD/share, with turnover of 13.2671 million USD.

On the news front, the semiconductor equipment sector rebounded following the prior session's collective pullback triggered by SanDisk's below-expectation guidance. Peer stocks moved higher in tandem, with KLA Corporation up 1.83%, Lam Research up 2.46%, ASML up 2.76%, and Teradyne up 2.90%.

Adding to the bullish momentum, Citi recently placed Applied Materials on its 90-day positive catalyst watchlist, projecting that the company's fiscal Q3 results on August 13 will deliver guidance above market consensus, with revenue and EPS forecasts approximately 3% and 2% above Street estimates, respectively. HSBC and UBS have also raised target prices to the 683-705 USD range, implying significant upside from current levels. The company is expected to report EPS of 3.36 USD for the quarter.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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