Applied Materials, Inc. AMAT shares are trading lower on Thursday alongside shares of semiconductor and chip stocks, possibly in sympathy with Lam Research Corporation LRCX, which fell after its first-quarter earnings report.
What To Know: Lam Research Corporation released its first-quarter financial results after the market close on Wednesday. Lam Research Corporation reported quarterly earnings of $6.85 per share, which beat the analyst consensus estimate of $6.07, a 34.26% decrease over earnings of $10.42 per share from the same period last year.
The company reported quarterly sales of $3.48 billion, which beat the analyst consensus estimate of $3.41 billion, a 31.38% decrease over sales of $5.07 billion from the same period last year.
Related Link: Netflix Thrived Despite Hollywood Tensions
AMAT Price Action: Shares of AMAT were down 4.48% at $135.12 at the time of publication, according to Benzinga Pro.
Image by Willfried Wende from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
