Here's Why Applied Materials Stock Is Moving

Applied Materials, Inc. AMAT shares are trading lower by 2.68% to $109.48 during Monday's session. Shares of several semiconductor and chip companies are trading lower Monday, weakness may be in continued reaction to Intel Corp's worse-than-expected fourth-quarter report, which has weighed on sector sentiment ahead of earnings. The broader market is also lower ahead of this week's Fed decision.

Intel said fourth-quarter revenue fell 32% year-over-year to $14 billion, below analyst estimates of $14.49 billion, according to Benzinga Pro. Full-year revenue was $63.1 billion, down 20% year-over year.

See Also: Why GE HealthCare Technologies Are Rising

Intel also said it prioritized rationalizing its investments and “right-sizing” the organization over the fourth quarter.

The company reported a loss of 16 cents per share in the fourth quarter, missing analyst estimates of 20 cents per share. Intel said full-year EPS was $1.94...Read More

According to data from Benzinga Pro, AMAT has a 52-week high of $145.16 and a 52-week low of $71.12.

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