What's Going On With Applied Materials Stock?

Applied Materials, Inc. AMAT shares are trading higher by 3.2% to $158.28 Thursday morning. Shares of several semiconductor and chip stocks are trading higher in sympathy with Taiwan Semiconductor Mfg. Co. Ltd. after the company reported strong fourth-quarter financial results.

The semiconductor and chip industry is highly interconnected. Positive news or strong financial results from a major player like TSMC can have a positive impact on the entire industry.

Investors may view this as a sign of increased demand, technological advancements or overall health in the sector, leading to increased confidence in related semiconductor stocks.

What Happened With TSMC Earnings?

Taiwan Semiconductor Manufacturing Company Ltd (TSMC) reported fourth-quarter revenue of $19.62 billion, showing a 1.5% year-on-year decrease but surpassing the consensus estimate of $19.45 billion. The earnings per share (EPS) were $1.44, exceeding the consensus of $1.37.

“Our fourth quarter business was supported by the continued strong ramp of our industry-leading 3-nanometer technology,” said Wendell Huang, VP and CFO of TSMC…Read More

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According to data from Benzinga Pro, AMAT has a 52-week high of $165.01 and a 52-week low of $106.09.